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Samkrg Pistons & Rings Ltd. Stock Analysis

Small Cap
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Samkrg Pistons & Rings Ltd.was incorporated on March 30, 1985 at Hyderabad as a public limited company and obtained the Certificate of Commencement of Business on July18, 1985. The company was promoted by R J Yata and S D M  Rao alongwith Andhra Pradesh Industrial Development...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 13.68%15.83%13.21%12.37%14.73%15.99%17.55%15.45%14.26%12.53%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 180199173206232245252268290236
Y-o-Y Gr. Rt.-10.5%-13%18.6%13.1%5.5%2.6%6.7%7.9%-18.5%
Adjusted EPS (Rs.) 10.111.998.8310.4712.6916.1420.0420.4420.9719.85
Y-o-Y Gr. Rt.-18.7%-26.4%18.6%21.2%27.2%24.2%2%2.6%-5.3%
Book Value per Share (Rs.) 50.8162.567.2475.2584.7292.3111.76126.74142.29150.19
Adjusted Net Profit 9.911.88.710.312.515.919.720.120.619.5
Net Op. Cash Flow (Rs. Cr.) 13.315.917.517.431.625.333.426.727.224.4
Debt to Cash Flow from Ops 2.62.552.322.050.550.690.510.680.640.6
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Samkrg Pistons & Rings Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 3%0.3%-2.1%-18.5%
Adjusted EPS 7.8%9.4%-0.3%-5.3%
Book Value per Share 12.812.110.45.6
Share Price 4.3% -5.7% -26.2% -10.2%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 20.4520.5913.2814.3815.5617.9119.3416.9215.4113.43
Operating Profit Margin (%) 14.351617.5114.5214.5614.4716.0715.4814.9416.31
Net Profit Margin (%) 5.55.91555.366.467.827.487.118.26
Debt to Equity 0.690.660.620.480.210.190.160.150.130.1
Working Capital Days 849211289757680686586
Cash Conversion Cycle 35445645383741343549
Entity Percentage Holding
Promoters 66.88%
Institutions 0.90%
Non-Institutions 32.23%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Samkrg Pistons&Rings's performance infers:

Samkrg Pistons&Rings earnings have grown by 9.4%, whereas share price has depreciated -5.7% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Samkrg Pistons&Rings share prices over the last 10 years. Here is what we found out:

Samkrg Pistons&Rings share price has depreciated 2.3% annually over the past ten years.

Samkrg Pistons & Rings Ltd.was incorporated on March 30, 1985 at Hyderabad as a public limited company and obtained the Certificate of Commencement of Business on July18, 1985. The company was promoted by R J Yata and S D M  Rao alongwith Andhra Pradesh Industrial Development Corporation Ltd. (APIDC).

The company is engaged in the manufacture of pistons and piston rings used in two-wheelers three-wheelers four-wheelers and internal combustion engines.

Samkrg's technological and

Samkrg Pistons & Rings Ltd.was incorporated on March 30, 1985 at Hyderabad as a public limited company and obtained the Certificate of Commencement of Business on July18, 1985. The company was promoted by R J Yata and S D M  Rao alongwith Andhra Pradesh Industrial Development Corporation Ltd. (APIDC).

The company is engaged in the manufacture of pistons and piston rings used in two-wheelers three-wheelers four-wheelers and internal combustion engines.

Samkrg's technological and research capacity in terms of professional skills and resources enables manufacture of advanced pistons, piston pins / gudgeon pins, piston rings & circlips to endure higher thermal and mechanical loads. This is critical to engines being more powerful, efficient and less polluting. Manufacturing & marketing of good value, high quality and cost effective products meeting domestic and international customer quality requirements.    

The company entered into a technical collaboration agreement with Cheng Shing Piston Co. Ltd. Taiwan (Cheng Shing) to manufacture pistons and piston rings. Under the agreement valid for six years from the date of commencement of commercial production the collaborators were to provide updated technology for casting machining and finishing of pistons and manufacture of piston pins. The agreement also covers supply of designs drawings and specifications of plant and machinery.  

Product range of the company includes:

  • Pistons
  • Pins
  • Rings

Milestones:

  • Mar-85- Company was incorporated, commencement of business
  • Mar-86 - Technical Collaboration with M/s. Cheng Shing Piston co. Ltd
  • Oct-88 - Commercial production of piston & pins at Bonthapally
  • Jan-89 - Developed asymmetric profile of super hyper eutectic piston
  • May-91 - 4 stroke pistons developed for motorcycles
  • Aug-93 - Setup a full fledged piston ring Plant at Varisam
  • Aug-94 - Developed squeeze casting process for 4S 2-wheeler; & 4- wheeler
  • Oct-94 - Developed Ductile/Nodular/KV1 piston rings with key stone chrome plated rings.
  • Dec-96 - Setup second factory for manufacture of pistons to increase capacity and commenced commercial production at Akkivalasa
  • Aug-97 - Accredited with ISO 9002
  • Sep-98 - Established Technology Center with Japanese expertise & consultancy for 4S pistons and steel rings and 3 piece oil rings for motorcycles & cars.
  • Dec-99 - Commercialized production of ring carrier pistons for tractors, LCVs & HCVs with German technology
  • Apr-2000 Best QCD Vendor award received from TVS-Suzuki for 3 years 1998, 1999 & 2000
  • Feb-01 - Technology award by CBMD - India
  • May-01 - Accredited with QS-9000: 1998
  • Jun-01 - FAPCCI Award for the Best All Round Industrial Performance
  • Oct-03 - Dr Sir M Visveswaraya Industrial Award for Best Performance in Large & Medium Scale Sector for the year 2003.
  • Mar-04 - Company has become a Debt free company from all long-term interest paying loans.
  • Jun-04- Certified for Quality Management System (QMS) under ISO/TS 16949 : 2002 by M/s. Underwrites Laboratories Inc. - USA .
  • May-05 - Achieved Best Management Award for 2005 from Govt. of Andhra Pradesh
  • Mar-06- Achieved Honda Motorcycle & Scooter India Pvt. Ltd for Quality & Delivery Targets for 2005-06.
  • Apr-06 - FAPCCI award for Best Marketing Performance for 2005

Achievements/ recognition:

  • FAPCCI Award for Best Marketing Performance for the Year 2005. 
  • Best Management Award for the Year 2005. 
  • Dr.Sri.M. Visveswaraya for Best Performance in Large & Medium Scale Industries. 
  • Honda Achivement Awards for Quality & Delivery Targets for 2005-06 
  • Honda Achivement Awards for Zero PPM for 2006-07. 
  • FAPCCI Award for Best All-Round Industrial .
  • Performance Best QCD Vendor Award from TVS- Suzuki for 3 Years.
  • Technology Award by CBMD-INDIA.
  • 2010-13
    Honda Achivement Awards for Quality & Delivery Targets for 2009-10
    Best QCD Vendor Award from TVS- Suzuki for 3 Years
    Knorr Bremse Award - Global source"

Certifications:

  • IOS/TS 16949: 2002. for Plant1, Plant 2 and Plant 3
  • ISO 9001 : 2000 
  • ISO 9002 : 1994 and QS-9000 : 1998 
  • ISO : 9002
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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