Triton Valves Ltd Stock Analysis

BSE: 505978 | NSE: | Engineering - Industrial Equipments | Small Cap

BSE Share Price Jan 18, 18:01
1386.70 -29.65 (-2.09%)

DeciZen - Make an Informed Decision on Triton Valves

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

1. Quality

2. Valuation

Fair
P/E P/S EV/EBITDA

3. Price Trend

Semi Strong

10 Year X-Ray of Triton Valves:

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

Value Creation Index Colour Code Guide
Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 5.7%6.4%8.5%11.5%10.1%10.3%8%5.7%6.5%8.2%-
Value Creation Index -0.6-0.6-0.4-0.2-0.3-0.3-0.4-0.6-0.5-0.4-

Growth Parameters

Growth Parameters Colour Code Guide
Sales 144144161170165187221243214233278
YoY Gr. Rt. %-0.4%11.2%5.5%-2.4%13%18.2%9.9%-11.9%9.1%-
Adj EPS 21.419.539.973.27387.163.935.748.783.475
YoY Gr. Rt. %--8.8%104%83.5%-0.2%19.3%-26.6%-44.1%36.2%71.4%-
BVPS (₹) 450.5464.8484.8520.8576.8664.9713.9730.9749.9841.4822.1
Adj Net Profit 2.11.947.27.28.66.33.558.68
Cash Flow from Ops. 10.217.416.620.912.823.118.315.528.83.3-
Debt/CF from Ops. 6.93.83.52.34.42.433.51.518.6-

CAGR

CAGR Colour Code Guide
9 Years 5 Years 3 Years 1 Years
Sales 5.5%7.1%1.8%9.1%
Adj EPS 16.3%2.7%9.3%71.4%
BVPS 7.27.85.612.2
Share Price 12.6% 0.9% 7.6% 32.4%

Key Financial Parameters

Performance Ratio Colour Code Guide
Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 4.84.38.414.613.3149.356.710.59
Op. Profit Mgn % 9.41112.214.213.113.510.7810.39.46.9
Net Profit Mgn % 1.51.32.54.34.44.62.91.52.43.72.8
Debt to Equity 1.61.41.20.910.80.80.80.60.70.2
Working Cap Days 155150131123129119125123142157163
Cash Conv. Cycle 999989869586777575619

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 9.00%

Debt to equity has declined versus last 3 years average to 0.71

Sales growth is good in last 4 quarters at 50.88%

Sales growth has been subdued in last 3 years 1.83%

Net Profit has been subdued in last 3 years 9.28%

Latest Financials - Triton Valves Ltd.

Standalone Consolidated
TTM EPS (₹) 75 21.4
TTM Sales (₹ Cr.) 278 287
BVPS (₹.) 822.1 770.5
Reserves (₹ Cr.) 84 79
P/BV 1.69 1.80
PE 18.48 64.76
From the Market
52 Week Low / High (₹) 810.00 / 1763.00
All Time Low / High (₹) 93.67 / 2794.90
Market Cap (₹ Cr.) 144
Equity (₹ Cr.) 1
Face Value (₹) 10
Industry PE 31.1

Management X-Ray of Triton Valves :

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

Analyst's Notes

News

About Triton Valves Ltd

Triton Valves Ltd was incorporated in 1976 by M.V. Gokarn. Gokarn was a technocrat entrepreneur with a vision. His vision was to establish world-class manufacturing in India, not just for tyre valves but for a wide range of industrial and automotive products.

Triton was established in technical collaboration with Pingeot Bardin SA a leading manufacturer of automotive tyre valves in France. Critical manufacturing technology was transferred to Triton during the five year collaboration with Pingeot Bardin.

It is India’s largest manufacturer of automotive tyre tube valves, valve cores and accessories. For over three decades they have been developing and manufacturing high precision products to meet the diverse requirements of their customers around the world.

The manufacturing facility of the company was setup on a 14 acre plot in Mysore, 140 km from Bangalore in Southern India. Equipment was imported from Europe and a young dedicated team of engineers was formed.

Commercial production of the company commenced in 1978 with an annual capacity of 3 million valves and 4 million valve cores. Triton quickly established a reputation for its quality and customer service and emerged as a strong player in the tyre valve market in India.

The company plunged into a crisis with the untimely demise of Gokarn in 1986. However the management team rose to the challenge under the leadership of Mrs. Gokarn and soon Triton emerged as the market leader in India.

Today Triton has many significant achievements to its credit. It is the market leader in India with over 60% market share, the first in the industry to acquire the QS 9000 and the ISO/TS 16949 certifications; it has the most modern manufacturing facility in India and is also the fastest growing company in the industry.

Produc range of the company includes:

  • Valvas
  • Cores
  • Service Tools
  • Adapters & Plugs
  • Accessories

Clientele:

The company’s reputation for quality, delivery and customer service has earned them the trust of their Original Equipment customers such as Apollo Tyres, Bridgestone India, Ceat Tyres, JK tyres, MRF Tyres, Mahindra & Mahindra, Tata Motors, TVS-Srichakra Tyres and Wheels India.

Milestones:

  • 1976 - Incorporation of the company
  • 1978 - Commencement of commercial production with technical collaboration from Pingeot Bardin SA of France
  • 1992 - Triton emerges as the market leader in India
  • 1996 - Certified for ISO 9002
  • 2000 - Certified for QS 9000
  • 2004 - Certified for ISOTS:16949
  • 2007 - Large scale capaity expansion

Achievements/ recognition:

  • 1996 - Certified for ISO 9002
  • 2000 - Certified for QS 9000
  • 2004 - Certified for ISOTS: 16949
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