Suprajit Engineering Ltd - Stock Valuation and Financial Performance

BSE: 532509 | NSE: SUPRAJIT | Auto Ancillary | Small Cap

Suprajit Engineering Share Price

412.30 7.55 1.87%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Suprajit Engineering

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Suprajit Engineering stock performance -

mw4me loader
P/E Ratio (CD):
38.22
Market Cap:
5,700.4 Cr.
52-wk low:
327.2
52-wk high:
453.5

Is Suprajit Engineering Ltd an attractive stock to invest in?

1. Is Suprajit Engineering Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Suprajit Engineering Ltd is a good quality company.

2. Is Suprajit Engineering Ltd undervalued or overvalued?

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

3. Is Suprajit Engineering Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Suprajit Engineering 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 Suprajit Engineering:

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.
Suprajit Engineering Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 18.3%15.5%14.8%15.4%16.3%13%10.9%11.9%11.8%10.2%-
Value Creation
Index
0.30.10.10.10.2-0.1-0.2-0.2-0.2-0.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 5456129531,2031,4311,5901,5631,6411,8402,7522,812
Sales YoY Gr.-12.2%55.7%26.3%19%11.1%-1.7%5%12.2%49.6%-
Adj EPS 4.14.25.67.89.78.78.19.810.810.210.8
YoY Gr.-2.5%34.2%40.2%24.3%-10.6%-6.6%21.3%9.8%-5.9%-
BVPS (₹) 17.120.134.137.546.855.160.770.277.787.794.8
Adj Net
Profit
48.649.873.2109136121113138149141149
Cash Flow from Ops. 37.567.292.8126217145232161182239-
Debt/CF from Ops. 4.22.93.231.62.51.621.72.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 19.7%14%20.8%49.6%
Adj EPS 10.8%0.9%7.8%-5.9%
BVPS19.9%13.4%13.1%12.9%
Share Price 19.9% 11.1% 15.2% 24.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
26.222.321.322.5231713.914.914.412.211.8
Op. Profit
Mgn %
17.115.816.316.916.614.71414.414.111.411.2
Net Profit
Mgn %
8.98.18.69.19.57.67.38.48.15.15.3
Debt to
Equity
0.80.80.70.70.50.50.50.30.30.5-
Working Cap
Days
117122118137141142147146138114103
Cash Conv.
Cycle
6168667977777774776949

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 20.76%

Sales growth is good in last 4 quarters at 11.79%

Return on Equity has declined versus last 3 years average to 11.80%

Net Profit has been subdued in last 3 years 7.80%

Latest Financials - Suprajit Engineering Ltd.

Standalone Consolidated
TTM EPS (₹) 14.8 10.8
TTM Sales (₹ Cr.) 1,463 2,812
BVPS (₹.) 90.2 94.8
Reserves (₹ Cr.) 1,235 1,298
P/BV 4.57 4.34
PE 27.74 38.22
From the Market
52 Week Low / High (₹) 327.20 / 453.45
All Time Low / High (₹) 3.25 / 478.00
Market Cap (₹ Cr.) 5,700
Equity (₹ Cr.) 13.9
Face Value (₹) 1
Industry PE 46.3

Management X-Ray of Suprajit Engineering:

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 Suprajit Engineering

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
Sales5456129531,2031,4311,5901,5631,6411,8402,752
Operating Expenses 4525157979991,1951,3571,3441,4041,5812,440
Manufacturing Costs19233440494748505591
Material Costs3333725646897999159159551,0791,617
Employee Cost 7083125198257304293308336574
Other Costs 3038737289918891111157
Operating Profit 9396155203237233219237260313
Operating Profit Margin (%) 17.1%15.8%16.3%16.9%16.5%14.6%14.0%14.4%14.1%11.4%
Other Income 441620213822343739
Interest 14172630272523191536
Depreciation 891627374158575995
Exceptional Items 00-6-100-270120
Profit Before Tax 7475123164193205133194235220
Tax 24244350557129526268
Profit After Tax 515080114138134104143173152
PAT Margin (%) 9.3%8.2%8.4%9.5%9.7%8.4%6.7%8.7%9.4%5.5%
Adjusted EPS (₹)4.24.25.58.19.99.67.410.212.511.0
Dividend Payout Ratio (%)22%23%19%14%14%16%24%17%16%21%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 2052414485246557708499821,0751,213
Share Capital 12121314141414141414
Reserves 1932294345106417568359681,0611,199
Minority Interest00540000000
Debt142166259330282298311270294570
Long Term Debt43657619310897663514265
Short Term Debt100100183137174201245235281305
Trade Payables595795105182175214248194292
Others Liabilities 5065105176183204207213176346
Total Liabilities 4565299601,1351,3021,4471,5811,7131,7392,422

Fixed Assets

Gross Block2242494515836076577808198591,162
Accumulated Depreciation72811202763104167221271355
Net Fixed Assets153168331556544553613598588807
CWIP 1171823271551028
Investments 7511214923130172276320262445
Inventories7780167202236271276315343483
Trade Receivables119125210244289292275332297461
Cash Equivalents 86192232476494188107
Others Assets24216785678661505091
Total Assets 4565299601,1351,3021,4471,5811,7131,7392,422

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 386793126217145232161182239
PBT 7475123164193205133194235220
Adjustment 202341515160965848118
Changes in Working Capital -34-8-39-354-5350-43-43-15
Tax Paid -22-23-33-54-31-68-47-48-58-85
Cash Flow From Investing Activity -53-76-240-169-125-89-157-6037-579
Capex -25-41-54-39-25-59-66-25-53-92
Net Investments -28-35-30-130-100-30-94-3589-172
Others 00-157000400-316
Cash Flow From Financing Activity 14715147-85-42-61-86-111223
Net Proceeds from Shares 001460000000
Net Proceeds from Borrowing 33717-31-72-18-29-42-47278
Interest Paid -13-16-22-29-28-24-23-19-15-34
Dividend Paid -12-13-15-15-17-21-36-10-27-28
Others 36025121332227-14-227
Net Cash Flow -1-1448141515107-117
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)27.3622.5723.3423.4123.4918.7812.8515.5916.8313.3
ROCE (%)27.6723.0625.3423.6323.1921.513.1216.7418.4115.69
Asset Turnover Ratio1.481.361.391.241.191.161.0311.071.32
PAT to CFO Conversion(x)0.751.341.161.111.571.082.231.131.051.57
Working Capital Days
Receivable Days65675964676766686250
Inventory Days39434452555864666555
Payable Days58574953667178887555

Suprajit Engineering Ltd Stock News

Suprajit Engineering Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Suprajit Engineering on 28-Mar-2024 16:01 is ₹412.3.
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 Suprajit Engineering stood at ₹5,700.4.
The latest P/E ratio of Suprajit Engineering as of 28-Mar-2024 16:01 is 27.74.
The latest P/B ratio of Suprajit Engineering as of 28-Mar-2024 16:01 is 4.57.
The 52-week high of Suprajit Engineering is ₹453.4 and the 52-week low is ₹327.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Suprajit Engineering is ₹1,463 ( Cr.) .

About Suprajit Engineering Ltd

Suprajit Engineering Ltd (SEL) was incorporated on May 24, 1985 as a private limited company and was converted into public limited company on June 15, 1995. Suprajit started manufacturing high quality liner cables exacting Japanese standards for the automotive industry in 1987. It is today India’s most preferred manufacturer of cables and instruments and meets the demand of virtually every major OEM in the automotive sector. It is a customer centric company, ready to take on challenging product development and manufacturing to international specifications for a wide range of automotive cables and instruments. Today catering to a wide spectrum of automotive and non-automotive cable requirements Suprajit has achieved a phenomenal growth, making it India's largest manufacturer of automotive cables.

It has one of the largest manufacturing capacities for any one company in a specific country in the world. Suprajit is committed to being a world class organization, supplying cables and components to overseas and domestic customers in automobile and non-automobile sectors. With ISO/TS 169 49 2002 certifications, Suprajit practices a philosophy of continuous improvement and adopts processes that ensures fool proof & defect free manufacturing. Suprajit also seamlessly and efficiently satisfies its customer needs by optimizing production cycles. In 2011 - Gills Cables Limited was renamed as Suprajit Europe Ltd.

Business area of the company

The Company is engaged in the business of manufacturing and selling of automotive and other components and that are considered as single segment.

Products

  • Motion Control Solutions
  • Control Cable Systems
  • Push-Pull Assemblies
  • Brake Cable and Lever Systems
  • Rotary Push-Pull Lever Control Systems
  • Gear Shifter Mechanism and Cable
  • Joysticks & Remote Valve Control Systems
  • Commercial Controls

Awards

2017-18

  • Volkswagen - ‘A’ Grade Supplier Award, Quality Performance Award.
  • Honda Motor Cycles and Scooters – Quality and Delivery Achievement Award.
  • General Motors - Supplier Quality Excellence Award (3 years in a row).
  • John Deere - Accelerated Global Sourcing Award.
  • Brose Key Supplier Award.
  • Bajaj Auto Limited - TPM Excellence Award.
  • Tata Motors - Green Card for ‘0’ PPM.
  • Hero MotoCorp Limited - Direct Online Supply (DOL) Award.
  • Bajaj Auto Limited - Quality Consistency Gold Award.
  • Yamaha - Cost Reduction & VA/VE activity award.
  • TVS, Bajaj and Mahindra - various Awards.
  • KSFC: Entrepreneur of the year for the promoter.
  • CNBC/ICICI/CRISIL: SME of the year Auto Ancillary of the year.
  • NASSCOM: Best IT user Award in Automotive Sector.
  • KSFC: Outstanding Enterprise of the State.
  • BMA - Entrepreneur of the year.

2018-19

  • Volkswagen - Grade Supplier Award, Quality Performance Award
  • Honda Motor Cycles and Scooters -Quality and Delivery Achievement Award
  • General Motors - Supplier Quality Excellence Award (3 years in a row)
  • John Deere - Accelerated Global Sourcing Award
  • Brose Key Supplier Award
  • Bajaj Auto Limited - TPM Excellence Award Tata Motors - Green Card for '0' PPM
  • Hero MotoCorp Limited -Direct Online Supply (DOL) Award
  • Bajaj Auto Limited - Quality Consistency Gold Award
  • Yamaha - Cost Reduction & VA/VE Activity Award A grade excellence Award
  • TVS. Bajaj and Mahindra - various Awards
  • Best Delivery and Quality Supplier of the Year - AISIN Group

2019-20

  • Volkswagen -'A' Grade Supplier Award, Quality Performance Award
  • Honda Motor Cycles and Scooters - Quality and Delivery Achievement Award
  • General Motors -Supplier Quality Excellence Award (3 years in a row)
  • John Deere - Accelerated Global Sourcing Award
  • Brose Key Supplier Award
  • Bajaj Auto Limited - TPM Excellence Award
  • Tata Motors -Green Card for '0' PPM
  • Hero MotoCorp Limited -Direct Online Supply (DOL) Award
  • Bajaj Auto Limited -Quality Consistency Gold Award
  • Yamaha - Cost Reduction & VA/VE activity award
  • A grade excellence Award
  • TVS, Bajaj and Mahindra -various Awards

Milestones

1985:

  • Commencement of operations

1985-95:

  • Two new cable plants in Bangalore

1996-2005:

  • Listing of shares on BSE and NSE
  • India’s largest cable maker
  • Acquisition of Shah Concabs -4W cable competitor
  • Plants in Bangalore, Manesar and Chakan
  • Enterprise by State award by KSFC

2006-2010:

  • New plants in Pantnagar, Haridwar and Manesar
  • 100% EOU for non-automotive cables in Bangalore
  • Acquisition of CTP Gills Cables, one of the oldest cable companies with marquee global customers - now renamed as Suprajit Europe.

2011-2020:

  • Consolidating position as established global mechanical cable maker; diversifying and de-risking revenue profile
  • New plant at SAL, Banglore and Pathredi.
  • Acquisition of Speedo cable business (4W business) of Pricol
  • Acquisition of Wescon Controls, Wichita, USA
  • Launched two new plants in Chennai and Sanand
  • Launched Capex of Rs 100 crore to expand cable capacity to 300 million with 2 new plants
  • Acquisition of Osram Kamai Plant (Halogen Bulbs division)
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