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Sundaram Brake Linings Ltd. Stock Analysis

Small Cap
Evaluated by 305 users | BSE: 590072 | NSE: SUNDRMBRAK |
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Established in 1976 as a joint venture with a world famous friction materials manaufacturer, Sundaram Brake Linings (SBL) a TVS Group company is now a fully Indian owned company manufacturing automotive, non-automotive and industrial friction materials. SBL products are extensivley used in...

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 10.22%8.81%-2%-5.3%-9.73%0.38%3.24%4.25%6.73%2.83%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 238256232247237228228247286258
Y-o-Y Gr. Rt.-7.7%-9.4%6.5%-4.1%-3.8%0%8.6%15.9%-9.8%
Adjusted EPS (Rs.) 28.4723.45-12.19-23.08-37.91-4.022.946.9514.353.65
Y-o-Y Gr. Rt.--17.6%-152%NANANANA136.4%106.5%-74.6%
Book Value per Share (Rs.) 246.59244.54233.34220.08177.54176.49180.37189.74208.37213.41
Adjusted Net Profit 11.29.2-4.8-9.1-14.9-1.61.22.75.71.4
Net Op. Cash Flow (Rs. Cr.) 47.74.28.3-18.419.34.22.517.1
Debt to Cash Flow from Ops 9.165.319.795.52-54.085.691.717.1813.251.4
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.
Sundaram Brake Linings Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 0.9%1.8%4.3%-9.8%
Adjusted EPS -20.4%NA7.5%-74.6%
Book Value per Share -1.63.85.82.4
Share Price 8% 1.6% -21.2% 24.1%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 11.829.55-5.1-10.18-19.07-2.271.653.767.211.73
Operating Profit Margin (%) 9.678.622.442.130.282.933.792.93.972.25
Net Profit Margin (%) 4.723.61-2.07-3.68-6.31-0.690.511.111.970.56
Debt to Equity 0.380.420.450.530.730.690.470.40.410.29
Working Capital Days 108103119122132139133134138159
Cash Conversion Cycle 46597372746163747687
Entity Percentage Holding
Promoters 65.54%
Non-Institutions 34.46%
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 Sundaram Brake Linings Ltd.'s performance infers:

Sundaram Brake Linings Ltd. earnings have grown by 0%, whereas share price has appreciated 1.6% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Sundaram Brake Linings Ltd. share prices over the last 10 years. Here is what we found out:

Sundaram Brake Linings Ltd. share price has appreciated 5% annually over the past ten years.

Established in 1976 as a joint venture with a world famous friction materials manaufacturer, Sundaram Brake Linings (SBL) a TVS Group company is now a fully Indian owned company manufacturing automotive, non-automotive and industrial friction materials. SBL products are extensivley used in commercial vehicles, passenger cars, tractors (agricultural) and motor cycles.

Nine decades ago (1912), TVS - T.V. Sundaram Iyengar started one of the earliest rural bus services in India. Today, the

Established in 1976 as a joint venture with a world famous friction materials manaufacturer, Sundaram Brake Linings (SBL) a TVS Group company is now a fully Indian owned company manufacturing automotive, non-automotive and industrial friction materials. SBL products are extensivley used in commercial vehicles, passenger cars, tractors (agricultural) and motor cycles.

Nine decades ago (1912), TVS - T.V. Sundaram Iyengar started one of the earliest rural bus services in India. Today, the TVS group has 30 companies with a combined turnover of US$ 2.5 billion with 25,000 employees. All the companies are professionally run under the TVS Board's guidelines. The core strength of TVS is manufacture of auto components for the automobile / tractor Industry. TVS has diverse activities such as commercial vehicle & passenger car distribution / servicing, cargo transportation & logistics, spare parts distribution through more than 140 fully-owned outlets spread throughout India. TVS also manufactures motor cycles, sewing needles and computer peripherals.

SBL has four manufacturing plants with two plants dedicated exclusively to manufacturing asbestos-free brake linings and pads. The combined production capacity of all four manufacturing plants exceeds 1.2 million brake blocks per month. SBL also manufactures asbestos-free woven clutch facings, disc pads, flexible rolls, and insitu bonded shoes

All manufacturing plants are strategically located near major Indian ports to improve the turnaround time in servicing global customers. SBL exports to more than 69 countries catering to the after market needs of international applications like Mercedes Benz, Volvo, Scania, Renault etc. SBL is also the preferred supplier to some of the well known axle manufacturers as original equipment

SBL products have been tested to meet European ECE-R90, American FMVSS 121, Australian ADR 35/38, South African SABS 1506 requirements besides the Indian IS 11852.

SBL has the singular distinction of being the first friction material manufacturer in the world to win the coveted Deming Application Prize for practising Total Quality Management (TQM). Besides SBL, the other group companies that have received the Deming Application Prize are Sundaram Clayton, TVS Motor Company, Brakes India (Foundry Division) and Lucas – TVS.

Product range of the company includes:

Sundaram Brake Linings Limited is mainly engaged in manufacture of friction materials.

  • Brake linings
  • Break Pads
  • Disk Brake pads,
  • Clutches
  • Parts.

Achievements/ recognition:

  • 1998-99 ACMA Productivity Award.
  • 1990-91 & 89-90: Productivity Award from Chief Inspector of Factories, Governmentof Tamil Nadu
  • SBL is a ISO / TS 16949 and ISO-14001 certified company.
  • 1988-89: Productivity Award from the National Productivity Council
  • 1988-89: Certificate of Merit for outstanding Export Performance from Ministry of Commerce, Government of India
  • 1993-94: National Award from DSIR,New Delhi
  • 1991-92:Technology Award fromACMA, India
  • 1989-90: National Award for Technology Department from DGTD, New Delhi
  • First friction material company in the world to win the Deming Application Prize.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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