Goodyear India Ltd - Stock Valuation and Financial Performance

BSE: 500168 | NSE: GOODYEAR | Tyres & Allied | Small Cap

Goodyear India Share Price

1,176.95 -3.60 -0.30%
as on 12-Apr'24 16:59

DeciZen - make an informed investing decision on Goodyear India

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Goodyear India stock performance -

mw4me loader
P/E Ratio (SA):
20.46
Market Cap:
2,714.8 Cr.
52-wk low:
1,058.1
52-wk high:
1,451.1

Is Goodyear India Ltd an attractive stock to invest in?

1. Is Goodyear India Ltd a good quality company?

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

2. Is Goodyear India Ltd undervalued or overvalued?

The key valuation ratios of Goodyear India Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Goodyear India Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Goodyear India Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Goodyear India:

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.
Goodyear India 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

Dec'13Dec'14Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 25.5%22.4%22.3%19.7%17.6%12.7%10.4%15.8%13.7%19.2%-
Value Creation
Index
0.80.60.60.40.3-0.1-0.30.10.00.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,5691,5831,3841,5121,6651,9121,7461,7922,4362,9282,654
Sales YoY Gr.-0.9%-12.6%9.2%10.1%14.9%-8.7%2.6%35.9%20.2%-
Adj EPS 42.343.742.155.356.845.238.959.144.953.757.5
YoY Gr.-3.3%-3.7%31.2%2.9%-20.5%-14%52.2%-24.1%19.6%-
BVPS (₹) 182.3214.2212305.3346.5374.7395.8362.7308.7261.4278.2
Adj Net
Profit
97.710197.112713110489.7136104124133
Cash Flow from Ops. 13199.47.516818256.665.429489.3112-
Debt/CF from Ops. 0000000000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 7.2%12%18.8%20.2%
Adj EPS 2.7%-1.1%11.4%19.6%
BVPS4.1%-5.5%-12.9%-15.3%
Share Price 10.6% 4.6% 9.8% 9.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Dec'13Dec'14Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
25.121.921.919.317.412.510.115.513.318.821.3
Op. Profit
Mgn %
9.29.911.513.212.28.87.812.17.17.18.4
Net Profit
Mgn %
6.26.478.47.95.55.17.64.34.25
Debt to
Equity
0000000000-
Working Cap
Days
11410311115417417614514917016055
Cash Conv.
Cycle
-18-17-51-9-39-33613

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 21.30%

Sales growth is growing at healthy rate in last 3 years 18.81%

Net Profit is growing at healthy rate in last 3 years 11.37%

Sales growth is not so good in last 4 quarters at -6.81%

Latest Financials - Goodyear India Ltd.

Standalone Consolidated
TTM EPS (₹) 57.5 -
TTM Sales (₹ Cr.) 2,654 -
BVPS (₹.) 278.2 -
Reserves (₹ Cr.) 619 -
P/BV 4.23 -
PE 20.46 -
From the Market
52 Week Low / High (₹) 1058.05 / 1451.10
All Time Low / High (₹) 20.70 / 1451.10
Market Cap (₹ Cr.) 2,715
Equity (₹ Cr.) 23.1
Face Value (₹) 10
Industry PE 27.2

Management X-Ray of Goodyear India:

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 Goodyear India

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSDec'13Dec'14Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,5691,5831,7301,5121,6651,9121,7461,7922,4362,928
Operating Expenses 1,4311,4271,5341,3121,4631,7481,6101,5752,2642,721
Manufacturing Costs5157786984969997151138
Material Costs1,1161,0941,1159511,0791,3231,1921,1781,7412,188
Employee Cost 88101139121127127140139163171
Other Costs 176176202170174202179162208223
Operating Profit 138156196200201164136217172207
Operating Profit Margin (%) 8.8%9.8%11.3%13.2%12.1%8.6%7.8%12.1%7.1%7.1%
Other Income 32303833373835232316
Interest 2333334344
Depreciation 25294734364150535354
Exceptional Items 0000000000
Profit Before Tax 142154184196199158117183138165
Tax 48526568695628473643
Profit After Tax 9410112012713010289136103123
PAT Margin (%) 6.0%6.4%6.9%8.4%7.8%5.3%5.1%7.6%4.2%4.2%
Adjusted EPS (₹)40.843.951.955.256.344.238.559.144.653.3
Dividend Payout Ratio (%)22%23%23%23%23%29%34%301%224%50%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSDec'13Dec'14Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 424497614707802867916840715606
Share Capital 23232323232323232323
Reserves 400474591684779844893817692583
Minority Interest0000000000
Debt0000000000
Long Term Debt0000000000
Short Term Debt0000000000
Trade Payables288245200264378342266405483479
Others Liabilities 321376404482548611125715773824
Total Liabilities 1,0331,1181,2181,4541,7291,8211,3071,9601,9711,909

Fixed Assets

Gross Block430481268306360404517554595677
Accumulated Depreciation2202414679114154202242278320
Net Fixed Assets210240221227246251316312317357
CWIP 32172931265015163361
Investments 0000000000
Inventories99123128169168167150133301286
Trade Receivables165112159157208243220271250322
Cash Equivalents 317365334453577559546597390163
Others Assets21026034741650355060631679720
Total Assets 1,0331,1181,2181,4541,7291,8211,3071,9601,9711,909

Cash Flow

(All Figures are in Crores.)
PARTICULARSDec'13Dec'14Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 131999168182576529489112
PBT 142154184196199158117183138165
Adjustment 6717691024394149
Changes in Working Capital 26-4-1213751-58-38123-51-59
Tax Paid -43-57-71-71-76-53-37-51-39-42
Cash Flow From Investing Activity -121116-133-12-22-36-9687-5091
Capex -47-48-43-38-51-72-62-44-73-111
Net Investments -89140-123000-6310810190
Others 15253327293729231312
Cash Flow From Financing Activity -21-27-31-37-37-39-45-223-236-241
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -2-3-3-4-3-3-4-4-4-4
Dividend Paid -16-21-23-27-29-30-30-214-225-230
Others -3-4-5-6-6-6-11-6-7-6
Net Cash Flow -11188-155120123-18-76158-197-38
PARTICULARSDec'13Dec'14Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)24.3822.1321.6719.3617.2812.271015.5713.2918.68
ROCE (%)37.3434.3133.9230.2426.8919.3713.5921.3318.4125.74
Asset Turnover Ratio1.641.591.591.221.071.081.121.11.241.51
PAT to CFO Conversion(x)1.390.980.081.321.40.560.732.160.860.91
Working Capital Days
Receivable Days34302736394348503936
Inventory Days22242533363233293337
Payable Days8989738910999931049380

Goodyear India Ltd Stock News

Goodyear India Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Goodyear India on 12-Apr-2024 16:59 is ₹1,177.
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 12-Apr-2024 16:59 the market cap of Goodyear India stood at ₹2,714.8.
The latest P/E ratio of Goodyear India as of 12-Apr-2024 16:59 is 20.46.
The latest P/B ratio of Goodyear India as of 12-Apr-2024 16:59 is 4.23.
The 52-week high of Goodyear India is ₹1,451.1 and the 52-week low is ₹1,058.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Goodyear India is ₹2,654 ( Cr.) .

About Goodyear India Ltd

Goodyear is present in India since 1922. It is presently working with two plants, one each in Ballabgarh and Aurangabad. The company is engaged in the manufacturing and marketing automotive tyres, tubes and flaps. Automotive tyres include farm, truck and passenger tyres. Other products of the company include tubes/flaps, rubber products and two- and three-wheeler tyres.

Goodyear has a tyre for every type of driving condition. Today's most exciting new cars use wider, lower-profile tyres to enhance both their handling and looks. This type of tyre places a priority on aggressive traction and response. In the past, that meant limited capabilities in poor weather, significant compromises in ride comfort and tread life. Now, a wide range of Goodyear tyres, including the new Eagle ultra-high performance and Excellence radials, deliver outstanding performance, all-season capability, and uncompromised comfort and tyre life.

The Goodyear Tire & Rubber Company started in 1898 when Frank Seiberling purchased the company's first plant using money he borrowed from his brother-in-law. The rubber and cotton had to be transported from halfway around the world, to a landlocked town that had only limited rail transportation. Seiberling named the company after the courageous pioneer Charles Goodyear, the discoverer of vulcanisation. He also determined the distinctive winged-foot trademark that remains a symbolic link with the company's past.

Products of the company

Passenger Tyre 

  • GPS2
  • GT3 
  • Ducaro GDi
  • EAGLE VENTURA 
  • EAGLE NCT 3
  • EAGLE GA PLUS
  • EAGLE NCT 5 
  • EAGLE F1 GSD2
  • EAGLE F1 GSD3  

Light Truck Tyre

  • WRANGLER DT 
  • WRANGLER RT/S 
  • WRANGLER AT/S 
  • WRANGLER AT/R 
  • G28
  • WRANGLER D-SPORT

Truck Tyre

  • Power 2000
  • Power TORQ+
  • HMG 8
  • CT 162 

Farm Tyre 

  • Sampurna 
  • Purna 
  • ASSG 
  • FT195
  • DT195
  • FT195+
  • NRT 

Goodyear Technologies

  • RunOnFlat
  • SilentArmor
  • TripleTred
  • ComforTred

Milestones

  • 1922:  Goodyear tyre and Rubber company Akron, Ohio entered the Indian market.
  • 1961:  Goodyear India's own manufacturing facility was inaugurated in Ballabgarh, 32 km from India’s capital New Delhi .The plant had an investment of $12million and was commissioned within 12 months.
  • 1965:  The Ballabgarh plant was expanded which increased the plant production by 35%
  • 1969-70:  The production increased by nearly 100%
  • 1993:  Goodyear formed a 50-50 joint venture with South- Asian Tyres Ltd. (SATL) at Aurangabad to manufacture state-of-art radial tyres for car and light truck and bias construction tyres for graders and earthmovers.
  • 1996:  The first tyre GPS2 radial Passenger was rolled out from Aurangabad plant
  • 1998:  SATL becomes a fully-owned Goodyear company
  • 1999:  A significant investment of $9.3 million was made in the farm tyre manufacturing process.
  • 2002: Goodyear becomes the first tyre manufacturer to roll out tubeless tyres on Indian roads. In the passenger car segment, Goodyear supplies tyres to many of the leading Original Equipment Manufacturers in India. These include Maruti, Telco, Mahindra & Mahindra, Ford, Fiat and many more. In the farm segment, Goodyear tyres are supplied to all the major tractor manufacturers like PTL, ITL, TAFE, Eicher and Escorts. Similarly, for buses and trucks, vehicles rolling out of the assembly line of the leading OEMs like Telco, Ashok Leyland, and Swaraj Mazda are often seen with Goodyear tyres. Goodyear commands a major market share in the Off The Road (OTR) segment by being a major supplier to Coal India Limited, Escorts, L&T, TISCO and major steel plants of the country.
  • 2004:  A very significant year with three product launches including GT3, Eagle F1 and Ducaro GA.
  • 2006: Launch of branded retail “shop-in-shop” concept -- a part of the company’s strategic initiative in organized tyre retailing, aimed at strengthening its presence in the large tyre replacement market in the country. These outlets offer customers an unmatched tyre purchase experience. Goodyear India rolls out the Excellence series -- a new collection of luxury passenger car tyres. Designed with the ultimate '3 -Zone Technology', and ECO-Sil Silica Tread Compound Technology, the tyre provides superior comfort and precise handling on both wet and dry conditions for premium car drivers.
  • 2009: Goodyear launched DuraPlus. The company has developed this tyre to fit Asian car market that are categorised under A2 and B segment.
  • 2012: Goodyear Named a Thomson Reuters Top 100 Global Innovator
  •          Goodyear Self-Inflating Technology debuts at The Int' Automobil-Ausstellung (Iaa) Commercial Vehicle Show.

 

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