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Ucal Fuel Systems Ltd Stock Analysis

Small Cap
Evaluated by 494 users | BSE: 500464 | NSE: UCALFUEL |
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Ucal Fuel Systems was established in 1985 by Carburettors Ltd. (pioneers in India in the manufacture of Carburettors and mechanical fuel pumps) as a joint venture company with Mikuni Corporation Japan - internationally renowned company for fuel management products. It is a part of the larger...

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.
Ucal Fuel Systems Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Capital Employed 0.36%10.79%10.69%7.16%6.57%11.36%9.14%13.61%23.39%11.77%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 501607680654644738724791820870
Y-o-Y Gr. Rt.-21%12.2%-3.9%-1.5%14.6%-1.9%9.3%3.7%6%
Adjusted EPS (Rs.) -10.419.269.152.21.3410.496.0215.4245.8920.96
Y-o-Y Gr. Rt.-NA-1.2%-76%-39.1%682.8%-42.6%156.2%197.6%-54.3%
Book Value per Share (Rs.) 9.9319.6725.5525.9525.1329.8514.295.24134.95145.72
Adjusted Net Profit -2320.520.24.9323.213.334.110146.4
Net Op. Cash Flow (Rs. Cr.) -46.579.19763.975.791.980.69878.3130
Debt to Cash Flow from Ops -7.574.53.875.924.713.453.652.63.321.76
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.
Ucal Fuel Systems Ltd. should be analysed on a Consolidated basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 6.3%6.2%6.3%6%
Adjusted EPS NA73.3%51.6%-54.3%
Book Value per Share 34.842.1117.38
Share Price 8.4% 2.2% -11.6% 4.8%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) -72.3244.935.428.025.1838.127.3428.1739.8714.93
Operating Profit Margin (%) 8.3214.0212.5510.329.7311.9410.1912.9115.0414.4
Net Profit Margin (%) -4.593.382.970.740.463.141.844.3112.375.33
Debt to Equity 16.018.186.656.596.424.89.361.210.870.71
Working Capital Days 127114116124124109110100110118
Cash Conversion Cycle 27282221262523131923
Entity Percentage Holding
Promoters 70.33%
Institutions 0.38%
Non-Institutions 29.28%
Pledged *18.7118.7118.7110.688.538.538.538.538.538.53
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of Ucal Fuel Systems Ltd and arrived at the following conclusion:

Past 10 year's financial track record indicates that Ucal Fuel Systems Ltd is a below average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of Ucal Fuel Systems Ltd's performance infers:

Ucal Fuel Systems Ltd earnings have grown by 73.3%, whereas share price has appreciated 2.2% 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 Ucal Fuel Systems Ltd share prices over the last 10 years. Here is what we found out:

Ucal Fuel Systems Ltd share price has appreciated 6.5% annually over the past ten years.

Ucal Fuel Systems was established in 1985 by Carburettors Ltd. (pioneers in India in the manufacture of Carburettors and mechanical fuel pumps) as a joint venture company with Mikuni Corporation Japan - internationally renowned company for fuel management products.

It is a part of the larger Ucal group which was founded by Shri.K.Gopalakrishna, a visionary leader who built the multidimensional enterprise. Ucal today spans a wide spectrum of products for the automotive sector and is a

Ucal Fuel Systems was established in 1985 by Carburettors Ltd. (pioneers in India in the manufacture of Carburettors and mechanical fuel pumps) as a joint venture company with Mikuni Corporation Japan - internationally renowned company for fuel management products.

It is a part of the larger Ucal group which was founded by Shri.K.Gopalakrishna, a visionary leader who built the multidimensional enterprise. Ucal today spans a wide spectrum of products for the automotive sector and is a perfect amalgam of people, technology and resources reinforced with the advantage of a thorough understanding of automotive industry

Ucal is in the business of providing holistic solutions in fuel management systems and is committed to producing products of consistent quality and timely delivery. This is validated because Ucal is the most preferred supplier of products to customers such as Maruti Udyog, Hyundai, General Motors, Cummins, Bosch, Mikuni, TVS Motor Company, Bajaj Auto, Suzuki, Yamaha & Hero Honda Motors to name a few.

The company takes pride in being an engineering company that provides solutions to customers. The company designs products for petrol and diesel engine application and has impeccable manufacturing process and systems that ensures product quality. Apart from producing parts of consistent quality and upholding stakeholder satisfaction, Ucal takes it as a duty to be socially responsible organization and ensure that all products are environmentally friendly.

Subsidiaries:

  • AMTEC Precision Products Ltd. Acquired by UCAL in the year 2005, AMTEC Precision Products manufactures precision machined parts and plastic moulded products for US Automotive and Non-Automotive customers. AMTEC has three facilities located in Illinois, USA.
  • Bharat Technologies Auto Components Ltd. Bharat Technologies Auto Components Ltd. (BTACL), manufactures precision machined parts for automotive application at its 100% Export Oriented Unit at Ambattur, Chennai. BTACL’s strength and expertise lie in its ability to manufacture components to close tolerances, using CNC machines, and to meet global quality requirements in large volumes. Around one million in volume of each product is exported to the US. Further, the company’s technical power blends experience and dynamism, to provide a wide array of machining solutions to any challenging customer requirements.
  • UCAL Machine Tools Ltd. A 100% subsidiary of Ucal, UCAL Machine Tools was established in 1991 to manufacture dies and moulds for the Pressure Die Cast products required by UCAL Fuel Systems Ltd. Ucal Machine Tools also manufactures pressure die cast parts for Indian and International customers. The company has three pressure die casting units, one at Pondicherry and two at Maraimalai Nagar, apart from a tool room and assembly unit at Maraimalai Nagar.
  • UCAL Polymer Industries Ltd. Established as a 100% subsidiary in 2000, UCAL Polymer Industries Ltd., (UPIL) is engaged in the manufacture of rubber and plastic products. Specialised activities like Rubber to metal bonding, Compression moulding and Plastic injection moulding are carried out at UPIL. The manufacturing unit is at Pondicherry.

Product range of the company includes:

  • Gasoline Systems & Products
  • Gasoline Engines - 4 Wheelers
  • Gasoline Engine - 2 Wheelers
  • Gasoline Engine - Pumps
  • Diesel Systems & Products
  • EMS System Products
  • Emission Control & Other Products
  • High pressure Die cast Products
  • Precision Machined Products

Achievements/ recognition:

  • 2009 - BOSCH Supplier Award for maximizing value to the customer
    National Energy Conservation Award by The Bureau of Energy efficiency, New Delhi.
  • ACMA Certificate of merit 2000-2001
  • Certificate of BVQI
  • Appreciation certificate 2001
  • National quality award
  • BVQI Certificate of approval
  • Certificate of merit 2002
  • BVQI appendix to Certificate of approval
  • ACMA Certificate of merit award 1992-93

Milestones

  • 1959 - Carburettors Limited incorporated
  • 1985 - UFSL incorporated as a Private Limited Company
  • 1987 - Joint venture agreement entered into with Mikuni Corporation
  • 1989 - UFSL became a Public Limited Company
  • 1990 - Maraimalai Nagar Plant established
    Carburettor for Maruti 800CC and 1000CC cars
  • 1992 - Carburettor for Premier118 NE car, Nissan A12 engine
    Carburettor for HM Contessa Car Isuzu 1800CC engine and for Zen cars with 1000CC engine
  • 1993 - Carburettors for Esteem cars with 1300CC engine, Suzuki Samurai Motorcycles-2 stroke engine and gensets
  • 1996 - Pondicherry Plant established
    Carburettor for Bajaj Auto-rickshaw
    Exports Commenced
  • 1997 - Carburettor for TVS Scooty
     
  • 1998 - Carburettor for Yamaha Motorcycle and Maruti Omni
    Multi Point Fuel Injection (MPFI) System Parts for Hyundai Santro
  • 1999 - Secondary Air Suction valve (ASV) for Hero Honda
    Carburettor for Scooterettes  and 4-stroke motorcycles
    MPFI system parts for Maruti
     
  • 2000 - Gurgaon Plant established
    Carburettor for Bajaj Caliber/Boxer and Yamaha Crux Motorcycles
    CD carburettor for TVS Fiero motorcycles and SAV/Carburettor for TVS Victor
    Exports of SAV commenced
  • 2001 - CD Carburettor for Bajaj Pulsar
  • 2002 - Export of Electronic throttle valve commenced
  • 2003 -Collaboration with Orbital Inc., Australia for development of Direct Injection Systems
    Setting up of a central R&D centre at Ambattur, Chennai
  • 2005 -Acquired AMTEC Precision Product, a company in US
  • 2006 - Started development of products for Diesel application
  • 2007 - Maraimalai Nagar Plant 6 established for machined component. Production of Vacuum pump and Oil pump started
  • 2008 - Joint Venture with Mikuni Closed
  • 2009 - Production of Fuel pump started
  • 2009-10 - It marked the first full year of operation after the exit of its technical and equity partner, Mikuni Corporation, Japan.
     
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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