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Dunlop India Ltd. Stock Analysis

Small Cap
Evaluated by 217 users | BSE: 509130 | NSE: DUNLOP |
Tyres & Allied
In 2005 the Ruia group took over tyre major Dunlop India  from its erstwhile promoters and settling enormous liabilities, resumed production after a suspension of almost 7 years.The group, a fast emerging industrial conglomerate with interest in infrastructure and engineering, tyre...

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'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15
Return on Capital Employed -12.58%20.41%0.36%0.47%0.24%0.43%-0.35%-0.32%-0.31%-4.31%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 0011817717617419.8000
Y-o-Y Gr. Rt.-NANA50.2%-1%-1.1%-88.6%-100%NANA
Adjusted EPS (Rs.) 4.0632.910.740.240.180.28-1.59-0.58-0.3-3.5
Y-o-Y Gr. Rt.-710.6%-97.8%-67.6%-25%55.6%-667.9%NANANA
Book Value per Share (Rs.) -95.9349.4932.628.1733.0833.2731.6823.52-0.87-1.27
Adjusted Net Profit 15.31485.41.81.32-11.5-7-3.6-42.6
Net Op. Cash Flow (Rs. Cr.) -52.2-11.1-21.6-38.8-21.423.4-3.550.40
Debt to Cash Flow from Ops -3.12-19.34-7.02-5.21-12.8413.1-95.5855.35722.79-8,874.99
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.
Dunlop India Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales NA-100%-100%NA
Adjusted EPS -198.4%-281%NANA
Book Value per Share 0-152.1-134.20
Share Price -3.9% - - -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15
Return on Equity (%) -5.1726.980.40.140.110.18-1.07-0.66-0.4-5.98
Operating Profit Margin (%) 002.392.040.24.72-4.51000
Net Profit Margin (%) 004.530.990.721.16-57.82000
Debt to Equity -0.450.960.6511.151.281.460.97-26.16-17.92
Working Capital Days 001421591741491,191000
Cash Conversion Cycle 0022819278931000
Entity Percentage Holding
Promoters 37.94%
Institutions 6.65%
Non-Institutions 55.41%
Pledged *88.6188.6188.6188.6188.5688.5688.5688.5588.5588.55
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Dunlop India's performance infers:

Dunlop India earnings have declined by -281%, whereas share price has appreciated 0% 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 Dunlop India share prices over the last 10 years. Here is what we found out:

Dunlop India share price has appreciated -19.8% annually over the past ten years.

In 2005 the Ruia group took over tyre major Dunlop India  from its erstwhile promoters and settling enormous liabilities, resumed production after a suspension of almost 7 years.The group, a fast emerging industrial conglomerate with interest in infrastructure and engineering, tyre and  rubber products, sugar and electronics, has had a phenomenal growth since its inception in 1993. The core capability of the group lies in identifying the opportunities and reinventing

In 2005 the Ruia group took over tyre major Dunlop India  from its erstwhile promoters and settling enormous liabilities, resumed production after a suspension of almost 7 years.The group, a fast emerging industrial conglomerate with interest in infrastructure and engineering, tyre and  rubber products, sugar and electronics, has had a phenomenal growth since its inception in 1993. The core capability of the group lies in identifying the opportunities and reinventing the acquired companies. Headquartered in Kolkata, the group has a workforce of about 9000 skilled, committed and qualified professionals.

Pneumatic Tyre was discovered in the year 1888 by a Scotsman John Boyd Dunlop (1840-1921). The beginning of Dunlop legacy occurred in 1888. The first company founded by John Boyd Dunlop was Dunlop Tyres.Its biggest asset is Dunlop’s brand name; the company is operating 500 dealers and Distribution arrangement with important distributors in gulf, South Asia and African markets already finalized for selling the complete product range. It has also entered for supply of tyres with prestigious other equipment manufacturers (OEMs).

Product details

This company is catering to the needs of different customers countrywide. The company products has been received very well in the market place in major categories like TRUCK/BUS, FARM and OTR range.

Truck and Bus tyres categories

  • X-100 XL  
  • G-247 
  • G-227 
  • MAHAAN 
  • XM-MAJOR 
  • CENTURION RIB 
  • SPRINTER LUG 

Farm categories

  • MAHAAN T 100 (Tractor Front) 
  • MAHAAN T XM 88 (Tractor Rear) 
  • ROAD FIELD MASTER (Tractor Rear)

OTR (Off the Road Categories)

  • GRADER 95  
  • PG 6S E3  
  • PG 6D E4  

Milestones:

  • 1888: The beginning of Dunlop legacy occurred
  • 1896: the company started marketing cycle tyres in India.
  • 1926: incorporated its business in India as Dunlop Rubber Company (India) Limited with an authorised capital of Rs.50lakhs
  • 1928: Dunlop Rubber Co (I) Ltd was renamed Dunlop India Ltd (DIL).
  • 1936: It’s head quarter in India was shifted to the sprawling Dunlop House on Free School Street, Calcutta. In the same year DIL set up the first tyre manufacturing plant in   Asia on a 239 acre plot of land at Sahaganj, near Calcutta. The plant, which started its production with tyres for passenger cars, cycles and animal drawn vehicles, over the years added capabilities for manufacturing 300 varieties of tyres ranging from scooter tyres to tyres for truck, bus, tractors and earthmovers and aircrafts. Sahaganj also produced an array of Industrial Products. The range included: steel cord conveyor belting, rubber and PVC conveyor belting, transmission belting, industrial and automotive v-belts, hoses, adhesive solutions and other products.
  • 1942: Toward the end of the 2nd World War Sahaganj started manufacturing tyres for aircrafts.
  • 1946: Dunlop India started production of Industrial Products. 
  • 1952: First Conveyer belt rolled out of the Dunlop Plant.
  • 1956: Production of OTR tyres started.
  • 1959: The company  set up its second plant in India at Ambattur, near Chennai.
  • 1987: Steel Chord belt production started. 2005: The Ruia Group led by Mr Pawan Kumar Ruia took control of DIL. At this point DIL had liabilities in excess of Rs 6.5 billion.
  • 2006: It's plant at Ambattur resumed production on 27 August, while Sahaganj opened its gates on 31 October.
  • 2007: It has came out of BIFR’s purview on 19 December.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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