Sundaram Brake Linings Ltd - Stock Valuation and Financial Performance

BSE: 590072 | NSE: SUNDRMBRAK | Auto Ancillary | Small Cap

Sundaram BrakeLining Share Price

677.25 7.25 1.08%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Sundaram BrakeLining

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Sundaram Brake Linings stock performance -

mw4me loader
P/E Ratio (SA):
22.84
Market Cap:
266.6 Cr.
52-wk low:
271.4
52-wk high:
787.5

Is Sundaram Brake Linings Ltd an attractive stock to invest in?

1. Is Sundaram Brake Linings Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Sundaram Brake Linings Ltd is a below average quality company.

2. Is Sundaram Brake Linings Ltd undervalued or overvalued?

The key valuation ratios of Sundaram Brake Linings Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Sundaram Brake Linings Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Sundaram Brake Linings Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Sundaram BrakeLining:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

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.
Sundaram Brake Linings Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % -5.3%-9.7%0.4%3.2%4.3%6.7%2.8%5.7%-0.6%-2.1%-
Value Creation
Index
-1.4-1.7-1.0-0.8-0.7-0.5-0.8-0.6-1.0-1.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 247237228228247286258237295355355
Sales YoY Gr.--4.1%-3.8%0%8.6%15.9%-9.8%-8.3%24.6%20.2%-
Adj EPS -23.1-37.9-42.9714.43.713.5-6.6-15.529.7
YoY Gr.-NANANA136.4%106.5%-74.6%269%-148.6%NA-
BVPS (₹) 220.1177.5176.5180.4189.7208.4213.4229.2230.3217.1241.3
Adj Net
Profit
-9.1-14.9-1.61.22.75.71.45.3-2.6-6.112
Cash Flow from Ops. 8.3-18.419.34.22.517.2-3.9-2.11.1-
Debt/CF from Ops. 5.5-54.15.71.77.213.31.4-7.7-2045-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 4.1%7.5%11.2%20.2%
Adj EPS NA-217.3%-261.8%NA
BVPS-0.2%2.7%0.6%-5.8%
Share Price 14.1% 15.9% 26% 145.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-10.2-19.1-2.31.73.87.21.76.1-2.9-6.913
Op. Profit
Mgn %
2.10.32.93.82.942.33.41.10.76.1
Net Profit
Mgn %
-3.7-6.3-0.70.51.120.62.2-0.9-1.73.3
Debt to
Equity
0.50.70.70.50.40.40.30.30.50.6-
Working Cap
Days
12213213913313413815716614713563
Cash Conv.
Cycle
7274616374768689827415

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 12.90%

Sales growth is growing at healthy rate in last 3 years 11.19%

Net Profit has been subdued in last 3 years -261.76%

Sales growth is not so good in last 4 quarters at 3.29%

Latest Financials - Sundaram Brake Linings Ltd.

Standalone Consolidated
TTM EPS (₹) 29.7 -
TTM Sales (₹ Cr.) 355 -
BVPS (₹.) 241.3 -
Reserves (₹ Cr.) 91 -
P/BV 2.81 -
PE 22.84 -
From the Market
52 Week Low / High (₹) 271.40 / 787.50
All Time Low / High (₹) 88.09 / 836.45
Market Cap (₹ Cr.) 267
Equity (₹ Cr.) 3.9
Face Value (₹) 10
Industry PE 46.3

Management X-Ray of Sundaram BrakeLining:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Sundaram BrakeLining

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales247237228228247286258237295355
Operating Expenses 241236221219240275252229292352
Manufacturing Costs53514342445151425465
Material Costs127116110103120144123121166214
Employee Cost 34394047475247414243
Other Costs 27302927292832243031
Operating Profit 51797116833
Operating Profit Margin (%) 2.1%0.3%2.9%3.8%2.9%4.0%2.3%3.4%1.1%0.7%
Other Income 3122335133
Interest 3433232235
Depreciation 8765455666
Exceptional Items 3000000020
Profit Before Tax 0-90146320-5
Tax 56100-10-40-1
Profit After Tax -5-150247360-5
PAT Margin (%) -2.1%-6.2%-0.2%0.8%1.5%2.5%1.0%2.5%0.0%-1.3%
Adjusted EPS (₹)-13.3-37.0-1.04.59.617.96.415.30.2-12.2
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 87706971758284909185
Share Capital 4444444444
Reserves 83666667717880868781
Minority Interest0000000000
Debt41454330303324264048
Long Term Debt13830000105
Short Term Debt28384030303324254043
Trade Payables23343625303333354251
Others Liabilities 33282334354038302422
Total Liabilities 183177172160170189179182197206

Fixed Assets

Gross Block172175808182879297107106
Accumulated Depreciation8594611152025313939
Net Fixed Assets87817471676767666867
CWIP 0000003311
Investments 0000001111
Inventories23292630333938344856
Trade Receivables58545344536253656469
Cash Equivalents 4344443000
Others Assets11101412131713121412
Total Assets 183177172160170189179182197206

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 8-18194317-4-21
PBT -3-90146320-5
Adjustment 141088465648
Changes in Working Capital -5-246-6-910-6-6-2
Tax Paid 20-442-1-1-6-10
Cash Flow From Investing Activity -9-2-2-11-4-6-4-8-6
Capex -6-3-2-2-1-4-6-4-8-6
Net Investments 00000-10000
Others -3001200000
Cash Flow From Financing Activity 22-9-18-52-125105
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 3-5-6-5-3005-46
Interest Paid -3-4-3-3-2-2-1-1-2-4
Dividend Paid 0000000000
Others 2100-1004-101153
Net Cash Flow 1-1-20000-300
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-5.85-18.6-0.592.515.179.013.036.890.09-5.43
ROCE (%)2.3-4.142.694.435.928.194.893.342.17-0.57
Asset Turnover Ratio1.481.411.41.481.521.61.41.311.561.76
PAT to CFO Conversion(x)N/AN/A-INF9.510.435.67-0.67-INFN/A
Working Capital Days
Receivable Days75808072707381908069
Inventory Days33374141464654555154
Payable Days66891161088480991038579

Sundaram Brake Linings Ltd Stock News

Sundaram Brake Linings Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Sundaram BrakeLining on 28-Mar-2024 16:01 is ₹677.2.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Sundaram BrakeLining stood at ₹266.6.
The latest P/E ratio of Sundaram BrakeLining as of 28-Mar-2024 16:01 is 22.84.
The latest P/B ratio of Sundaram BrakeLining as of 28-Mar-2024 16:01 is 2.81.
The 52-week high of Sundaram BrakeLining is ₹787.5 and the 52-week low is ₹271.4.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Sundaram BrakeLining is ₹355.1 ( Cr.) .

About Sundaram Brake Linings Ltd

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.
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