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BSE: 539353 | NSE: | Auto Ancillary | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Sal Automotive Ltd is a below average quality company.
The key valuation ratios of Sal Automotive Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Sal Automotive Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 9.9% | 9.8% | 8% | 8.4% | 11.4% | 11.5% | -1.8% | 3.2% | -3% | 10.2% | - |
| Value Creation Index ⓘ | -0.3 | -0.3 | -0.4 | -0.4 | -0.2 | -0.2 | -1.1 | -0.8 | -1.2 | -0.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 80.6 | 93.8 | 95.6 | 93 | 114 | 131 | 85.5 | 94.6 | 151 | 304 | 339 |
| Sales YoY Gr. | - | 16.4% | 1.9% | -2.8% | 22.3% | 14.9% | -34.6% | 10.6% | 59.3% | 101.8% | - |
| Adj EPS ⓘ | 9.7 | 10 | 8.5 | 9.5 | 13.8 | 14.5 | -3.7 | 3.5 | -9.7 | 19.6 | 28.9 |
| YoY Gr. | - | 3.2% | -15.5% | 12% | 44.8% | 5.3% | -125.7% | NA | -377.4% | NA | - |
| BVPS (₹) ⓘ | 101.5 | 105 | 109.2 | 120.5 | 130.4 | 139.4 | 139.4 | 139.9 | 126.5 | 145.8 | 159.1 |
| Adj Net Profit ⓘ | 2.3 | 2.4 | 2 | 2.3 | 3.3 | 3.5 | -0.9 | 0.8 | -2.3 | 4.7 | 7 |
| Cash Flow from Ops. ⓘ | 0.3 | 1.1 | 4.1 | -0.4 | -0.7 | 2.7 | -6.6 | -1.5 | -9.5 | 16.6 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | -0.4 | 0 | -0 | -6 | -2.9 | 2.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 15.9% | 21.7% | 52.6% | 101.8% | ||||
| Adj EPS ⓘ | 8.1% | 7.3% | NA | NA | ||||
| BVPSⓘ | 4.1% | 2.3% | 1.5% | 15.2% | ||||
| Share Price | - | 19.7% | 55% | 84.7% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 9.9 | 9.7 | 7.9 | 8.3 | 11 | 10.7 | -2.7 | 2.5 | -7.3 | 14.4 | 18.9 |
| Op. Profit Mgn % ⓘ | 5 | 4 | 3.1 | 3.5 | 4.5 | 4.4 | -0.7 | 1.6 | -0.8 | 3.4 | 4.3 |
| Net Profit Mgn % ⓘ | 2.9 | 2.6 | 2.1 | 2.5 | 2.9 | 2.7 | -1 | 0.9 | -1.6 | 1.6 | 2 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.3 | 0.9 | 1 | - |
| Working Cap Days ⓘ | 111 | 110 | 103 | 106 | 124 | 124 | 191 | 205 | 168 | 97 | 39 |
| Cash Conv. Cycle ⓘ | 9 | 11 | 10 | 10 | 18 | 24 | 40 | 27 | 23 | 11 | -3 |
Return on Equity has increased versus last 3 years average to 18.90%
Sales growth is growing at healthy rate in last 3 years 52.61%
Sales growth is good in last 4 quarters at 49.71%
Net Profit has been subdued in last 3 years 0.00%
Debt to equity has increased versus last 3 years average to 1.03
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 28.9 | - |
| TTM Sales (₹ Cr.) | 339 | - |
| BVPS (₹.) ⓘ | 159.1 | - |
| Reserves (₹ Cr.) ⓘ | 36 | - |
| P/BV ⓘ | 3.34 | - |
| PE ⓘ | 18.42 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 260.10 / 696.90 |
| All Time Low / High (₹) | 12.50 / 713.70 |
| Market Cap (₹ Cr.) | 127 |
| Equity (₹ Cr.) | 2.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 47.2 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 81 | 94 | 96 | 93 | 114 | 131 | 85 | 95 | 151 | 304 |
| Operating Expenses ⓘ | 77 | 90 | 93 | 90 | 109 | 125 | 86 | 93 | 152 | 293 |
| Manufacturing Costs | 4 | 5 | 5 | 5 | 5 | 5 | 4 | 4 | 5 | 10 |
| Material Costs | 57 | 67 | 69 | 65 | 82 | 97 | 61 | 69 | 117 | 243 |
| Employee Cost | 13 | 15 | 15 | 16 | 17 | 19 | 18 | 17 | 24 | 34 |
| Other Costs ⓘ | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 5 | 6 |
| Operating Profit ⓘ | 4 | 4 | 3 | 3 | 5 | 6 | -1 | 2 | -1 | 10 |
| Operating Profit Margin (%) | 5.0% | 4.0% | 3.1% | 3.5% | 4.5% | 4.4% | -0.7% | 1.6% | -0.8% | 3.4% |
| Other Income ⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 3 |
| Depreciation ⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 3 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 4 | 4 | 3 | 3 | 5 | 5 | 2 | 1 | -3 | 6 |
| Tax ⓘ | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 0 | -1 | 1 |
| Profit After Tax | 2 | 2 | 2 | 2 | 3 | 3 | 1 | 1 | -2 | 5 |
| PAT Margin (%) | 2.9% | 2.6% | 2.1% | 2.5% | 3.0% | 2.7% | 1.5% | 0.9% | -1.5% | 1.5% |
| Adjusted EPS (₹) | 9.8 | 10.1 | 8.5 | 9.6 | 14.2 | 14.5 | 5.2 | 3.5 | -9.7 | 19.6 |
| Dividend Payout Ratio (%) | 36% | 35% | 41% | 42% | 32% | 31% | 67% | 100% | 0% | 20% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 24 | 25 | 26 | 29 | 31 | 33 | 33 | 34 | 30 | 35 |
| Share Capital ⓘ | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves ⓘ | 22 | 23 | 24 | 27 | 29 | 31 | 31 | 31 | 28 | 33 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 25 | 30 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 9 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 23 | 21 |
| Trade Payables | 20 | 20 | 17 | 18 | 28 | 22 | 21 | 28 | 40 | 50 |
| Others Liabilities ⓘ | 5 | 5 | 4 | 4 | 8 | 9 | 9 | 9 | 8 | 15 |
| Total Liabilities ⓘ | 49 | 50 | 48 | 51 | 67 | 65 | 64 | 77 | 104 | 130 |
Fixed Assets | ||||||||||
| Gross Block | 23 | 23 | 24 | 21 | 24 | 26 | 27 | 29 | 34 | 57 |
| Accumulated Depreciation | 12 | 14 | 15 | 16 | 15 | 17 | 18 | 19 | 21 | 24 |
| Net Fixed Assetsⓘ | 10 | 9 | 9 | 6 | 9 | 9 | 9 | 9 | 13 | 33 |
| CWIP ⓘ | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 1 | 10 | 1 |
| Investmentsⓘ | 0 | 0 | 0 | 5 | 5 | 5 | 0 | 0 | 0 | 0 |
| Inventories | 4 | 6 | 6 | 6 | 6 | 7 | 7 | 9 | 15 | 24 |
| Trade Receivables | 21 | 20 | 16 | 19 | 31 | 26 | 21 | 28 | 35 | 37 |
| Cash Equivalents | 8 | 8 | 10 | 9 | 7 | 9 | 8 | 8 | 1 | 14 |
| Others Assetsⓘ | 5 | 6 | 5 | 7 | 10 | 9 | 19 | 22 | 30 | 21 |
| Total Assets ⓘ | 49 | 50 | 48 | 51 | 67 | 65 | 64 | 77 | 104 | 130 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 0 | 1 | 4 | 0 | -1 | 3 | -7 | -1 | -9 | 17 |
| PBT ⓘ | 4 | 4 | 3 | 3 | 5 | 5 | 2 | 1 | -3 | 6 |
| Adjustment ⓘ | 1 | 1 | 0 | 0 | 0 | 1 | -2 | 1 | 2 | 4 |
| Changes in Working Capital ⓘ | -3 | -2 | 2 | -3 | -4 | -2 | -6 | -3 | -8 | 6 |
| Tax Paid ⓘ | -1 | -1 | -1 | -1 | -2 | -1 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | 0 | -1 | 0 | -1 | -3 | -1 | 7 | 0 | -14 | -10 |
| Capex | -1 | -1 | -1 | -1 | -4 | -2 | 6 | -2 | -15 | -11 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Cash Flow From Financing Activityⓘ | -1 | -1 | -1 | -1 | 3 | 0 | -2 | 2 | 16 | 6 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -1 | -3 |
| Dividend Paid ⓘ | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 4 | 1 | 0 | 4 | 18 | 8 |
| Net Cash Flow ⓘ | -1 | 0 | 3 | -2 | -1 | 1 | -1 | 0 | -7 | 13 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 9.93 | 9.75 | 7.92 | 8.36 | 11.32 | 10.74 | 3.75 | 2.51 | -7.28 | 14.4 |
| ROCE (%) | 15.13 | 14.48 | 11.68 | 12.55 | 17.1 | 15.97 | 6.74 | 3.64 | -3.68 | 13.78 |
| Asset Turnover Ratio | 1.94 | 2.1 | 2.16 | 2.08 | 1.97 | 1.98 | 1.33 | 1.34 | 1.67 | 2.6 |
| PAT to CFO Conversion(x) | 0 | 0.5 | 2 | 0 | -0.33 | 1 | -7 | -1 | N/A | 3.4 | Working Capital Days |
| Receivable Days | 77 | 73 | 63 | 63 | 79 | 80 | 101 | 95 | 76 | 43 |
| Inventory Days | 17 | 18 | 20 | 20 | 19 | 19 | 31 | 31 | 29 | 24 |
| Payable Days | 114 | 107 | 97 | 99 | 103 | 94 | 130 | 131 | 107 | 68 |
Established in 1974, SAL Automotive Limited (Formerly Swaraj Automotives Limited) is an emerging global manufacturer of Automotive Components, Seats and Agricultural Implements. The company is a leading and preferred Supplier to the Indian Automotive Industry.
Inaugurated by the President of India as Punjab Scooters Limited and started manufacturing scooter named as “Vijay Kesari”. Company diversified into manufacturing of Seats in 1986 and Seat Mechanism in 1994 in technological tie-up with Fuji Kiko of Japan. In the year 2014, company extended its product portfolio with agricultural implements.
The company employs dedicated shop floor workers supported by experienced technical and managerial staff. The company has adequate facilities to design and develop Seats, Seat Mechanisms and Agricultural Implements to cater the need of the valuable customers.
Business area of the company
The company is engaged in manufacturing business of Automobile Components, which includes Tractor seats, LCV seats, Seat mechanisms for passenger cars & commercial vehicles and Seat frames for commercial vehicles and Agriculture Implements, which include Rotavators, Tractor trailers and Planter etc.
Product Portfolio
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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