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BSE: 500168 | NSE: GOODYEAR | Tyres & Allied | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Goodyear India Ltd is a good quality company.
The key valuation ratios of Goodyear India Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
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.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 22.4% | 22.3% | 19.7% | 17.6% | 12.7% | 10.4% | 15.8% | 13.7% | 19.2% | 16.6% | - |
| Value Creation Index ⓘ | 0.6 | 0.6 | 0.4 | 0.3 | -0.1 | -0.3 | 0.1 | 0.0 | 0.4 | 0.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 1,583 | 1,384 | 1,512 | 1,665 | 1,912 | 1,746 | 1,792 | 2,436 | 2,928 | 2,552 | 2,552 |
| Sales YoY Gr. | - | -12.6% | 9.2% | 10.1% | 14.9% | -8.7% | 2.6% | 35.9% | 20.2% | -12.8% | - |
| Adj EPS ⓘ | 43.7 | 42.1 | 55.3 | 56.8 | 45.2 | 38.9 | 59.1 | 44.9 | 53.7 | 41.3 | 41.1 |
| YoY Gr. | - | -3.7% | 31.2% | 2.9% | -20.5% | -14% | 52.2% | -24.1% | 19.6% | -23% | - |
| BVPS (₹) ⓘ | 214.2 | 212 | 305.3 | 346.5 | 374.7 | 395.8 | 362.7 | 308.7 | 261.4 | 250.9 | 250.9 |
| Adj Net Profit ⓘ | 101 | 97.1 | 127 | 131 | 104 | 89.7 | 136 | 104 | 124 | 95.3 | 95 |
| Cash Flow from Ops. ⓘ | 99.4 | 7.5 | 168 | 182 | 56.6 | 65.4 | 294 | 89.3 | 112 | 135 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 5.5% | 5.9% | 12.5% | -12.8% | ||||
| Adj EPS ⓘ | -0.6% | -1.8% | -11.3% | -23% | ||||
| BVPSⓘ | 1.8% | -7.7% | -11.6% | -4% | ||||
| Share Price | 8% | 6.5% | -2.2% | -16.1% | ||||
Performance Ratio Colour Code Guide ⓘ
| Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 21.9 | 21.9 | 19.3 | 17.4 | 12.5 | 10.1 | 15.5 | 13.3 | 18.8 | 16.1 | 16.4 |
| Op. Profit Mgn % ⓘ | 9.9 | 11.5 | 13.2 | 12.2 | 8.8 | 7.8 | 12.1 | 7.1 | 7.1 | 6.7 | 6.7 |
| Net Profit Mgn % ⓘ | 6.4 | 7 | 8.4 | 7.9 | 5.5 | 5.1 | 7.6 | 4.3 | 4.2 | 3.7 | 3.7 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 103 | 111 | 154 | 174 | 176 | 145 | 149 | 170 | 160 | 190 | 57 |
| Cash Conv. Cycle ⓘ | -17 | -5 | 1 | -9 | -3 | 9 | -3 | 3 | 6 | 14 | 13 |
Return on Equity has increased versus last 3 years average to 16.40%
Sales growth is growing at healthy rate in last 3 years 12.51%
Net Profit has been subdued in last 3 years -11.27%
Sales growth is not so good in last 4 quarters at -12.99%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 41.1 | - |
| TTM Sales (₹ Cr.) | 2,552 | - |
| BVPS (₹.) ⓘ | 250.9 | - |
| Reserves (₹ Cr.) ⓘ | 556 | - |
| P/BV ⓘ | 4.74 | - |
| PE ⓘ | 28.90 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 1091.00 / 1440.00 |
| All Time Low / High (₹) | 20.70 / 1451.10 |
| Market Cap (₹ Cr.) | 2,741 |
| Equity (₹ Cr.) | 23.1 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 30.6 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,583 | 1,730 | 1,512 | 1,665 | 1,912 | 1,746 | 1,792 | 2,436 | 2,928 | 2,552 |
| Operating Expenses ⓘ | 1,427 | 1,534 | 1,312 | 1,463 | 1,748 | 1,610 | 1,575 | 2,264 | 2,721 | 2,381 |
| Manufacturing Costs | 57 | 78 | 69 | 84 | 96 | 99 | 97 | 151 | 138 | 138 |
| Material Costs | 1,094 | 1,115 | 951 | 1,079 | 1,323 | 1,192 | 1,178 | 1,741 | 2,188 | 1,840 |
| Employee Cost | 101 | 139 | 121 | 127 | 127 | 140 | 139 | 163 | 171 | 183 |
| Other Costs ⓘ | 176 | 202 | 170 | 174 | 202 | 179 | 162 | 208 | 223 | 220 |
| Operating Profit ⓘ | 156 | 196 | 200 | 201 | 164 | 136 | 217 | 172 | 207 | 171 |
| Operating Profit Margin (%) | 9.8% | 11.3% | 13.2% | 12.1% | 8.6% | 7.8% | 12.1% | 7.1% | 7.1% | 6.7% |
| Other Income ⓘ | 30 | 38 | 33 | 37 | 38 | 35 | 23 | 23 | 16 | 17 |
| Interest ⓘ | 3 | 3 | 3 | 3 | 3 | 4 | 3 | 4 | 4 | 4 |
| Depreciation ⓘ | 29 | 47 | 34 | 36 | 41 | 50 | 53 | 53 | 54 | 55 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 154 | 184 | 196 | 199 | 158 | 117 | 183 | 138 | 165 | 128 |
| Tax ⓘ | 52 | 65 | 68 | 69 | 56 | 28 | 47 | 36 | 43 | 33 |
| Profit After Tax | 101 | 120 | 127 | 130 | 102 | 89 | 136 | 103 | 123 | 95 |
| PAT Margin (%) | 6.4% | 6.9% | 8.4% | 7.8% | 5.3% | 5.1% | 7.6% | 4.2% | 4.2% | 3.7% |
| Adjusted EPS (₹) | 43.9 | 51.9 | 55.2 | 56.3 | 44.2 | 38.5 | 59.1 | 44.6 | 53.3 | 41.1 |
| Dividend Payout Ratio (%) | 23% | 23% | 23% | 23% | 29% | 34% | 301% | 224% | 50% | 100% |
| PARTICULARS | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 497 | 614 | 707 | 802 | 867 | 916 | 840 | 715 | 606 | 581 |
| Share Capital ⓘ | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 |
| Reserves ⓘ | 474 | 591 | 684 | 779 | 844 | 893 | 817 | 692 | 583 | 558 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 245 | 200 | 264 | 378 | 342 | 266 | 405 | 483 | 479 | 427 |
| Others Liabilities ⓘ | 376 | 404 | 482 | 548 | 611 | 125 | 715 | 773 | 824 | 853 |
| Total Liabilities ⓘ | 1,118 | 1,218 | 1,454 | 1,729 | 1,821 | 1,307 | 1,960 | 1,971 | 1,909 | 1,861 |
Fixed Assets | ||||||||||
| Gross Block | 481 | 268 | 306 | 360 | 404 | 517 | 554 | 595 | 677 | 735 |
| Accumulated Depreciation | 241 | 46 | 79 | 114 | 154 | 202 | 242 | 278 | 320 | 370 |
| Net Fixed Assetsⓘ | 240 | 221 | 227 | 246 | 251 | 316 | 312 | 317 | 357 | 364 |
| CWIP ⓘ | 17 | 29 | 31 | 26 | 50 | 15 | 16 | 33 | 61 | 44 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 123 | 128 | 169 | 168 | 167 | 150 | 133 | 301 | 286 | 304 |
| Trade Receivables | 112 | 159 | 157 | 208 | 243 | 220 | 271 | 250 | 322 | 268 |
| Cash Equivalents | 365 | 334 | 453 | 577 | 559 | 546 | 597 | 390 | 163 | 124 |
| Others Assetsⓘ | 260 | 347 | 416 | 503 | 550 | 60 | 631 | 679 | 720 | 757 |
| Total Assets ⓘ | 1,118 | 1,218 | 1,454 | 1,729 | 1,821 | 1,307 | 1,960 | 1,971 | 1,909 | 1,861 |
| PARTICULARS | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 99 | 9 | 168 | 182 | 57 | 65 | 294 | 89 | 112 | 135 |
| PBT ⓘ | 154 | 184 | 196 | 199 | 158 | 117 | 183 | 138 | 165 | 128 |
| Adjustment ⓘ | 7 | 17 | 6 | 9 | 10 | 24 | 39 | 41 | 49 | 49 |
| Changes in Working Capital ⓘ | -4 | -121 | 37 | 51 | -58 | -38 | 123 | -51 | -59 | -3 |
| Tax Paid ⓘ | -57 | -71 | -71 | -76 | -53 | -37 | -51 | -39 | -42 | -39 |
| Cash Flow From Investing Activity ⓘ | 116 | -133 | -12 | -22 | -36 | -96 | 87 | -50 | 91 | -34 |
| Capex | -48 | -43 | -38 | -51 | -72 | -62 | -44 | -73 | -111 | -55 |
| Net Investments | 140 | -123 | 0 | 0 | 0 | -63 | 108 | 10 | 190 | 10 |
| Others ⓘ | 25 | 33 | 27 | 29 | 37 | 29 | 23 | 13 | 12 | 11 |
| Cash Flow From Financing Activityⓘ | -27 | -31 | -37 | -37 | -39 | -45 | -223 | -236 | -241 | -130 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -3 | -3 | -4 | -3 | -3 | -4 | -4 | -4 | -4 | -4 |
| Dividend Paid ⓘ | -21 | -23 | -27 | -29 | -30 | -30 | -214 | -225 | -230 | -121 |
| Others ⓘ | -4 | -5 | -6 | -6 | -6 | -11 | -6 | -7 | -6 | -5 |
| Net Cash Flow ⓘ | 188 | -155 | 120 | 123 | -18 | -76 | 158 | -197 | -38 | -29 |
| PARTICULARS | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 22.13 | 21.67 | 19.36 | 17.28 | 12.27 | 10 | 15.57 | 13.29 | 18.68 | 16.05 |
| ROCE (%) | 34.31 | 33.92 | 30.24 | 26.89 | 19.37 | 13.59 | 21.33 | 18.41 | 25.74 | 22.38 |
| Asset Turnover Ratio | 1.59 | 1.59 | 1.22 | 1.07 | 1.08 | 1.12 | 1.1 | 1.24 | 1.51 | 1.35 |
| PAT to CFO Conversion(x) | 0.98 | 0.08 | 1.32 | 1.4 | 0.56 | 0.73 | 2.16 | 0.86 | 0.91 | 1.42 | Working Capital Days |
| Receivable Days | 30 | 27 | 36 | 39 | 43 | 48 | 50 | 39 | 36 | 42 |
| Inventory Days | 24 | 25 | 33 | 36 | 32 | 33 | 29 | 33 | 37 | 42 |
| Payable Days | 89 | 73 | 89 | 109 | 99 | 93 | 104 | 93 | 80 | 90 |
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
Light Truck Tyre
Truck Tyre
Farm Tyre
Goodyear Technologies
Milestones
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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