Uniparts India Ltd - Stock Valuation and Financial Performance

BSE: 543689 | NSE: UNIPARTS | Engineering - Industrial Equipments | Small Cap

Uniparts India Share Price

521.45 -0.85 -0.16%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Uniparts India

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Uniparts India stock performance -

mw4me loader
P/E Ratio (SA):
14.91
Market Cap:
2,357.3 Cr.
52-wk low:
501.6
52-wk high:
722.2

Is Uniparts India Ltd an attractive stock to invest in?

1. Is Uniparts India Ltd a good quality company?

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

2. Is Uniparts India Ltd undervalued or overvalued?

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

3. Is Uniparts India Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Uniparts 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 Uniparts 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.
Uniparts India Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 6.9%3.8%9.5%3.9%3%7.7%5%9.8%25.4%30%-
Value Creation
Index
-0.5-0.7-0.3-0.7-0.8-0.5-0.6-0.30.81.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 422394450412529653538591883929743
Sales YoY Gr.--6.7%14.3%-8.5%28.6%23.4%-17.6%9.9%49.3%5.3%-
Adj EPS 3.21.46.22.21.75.83.58.725.432.535
YoY Gr.--57.2%353.3%-65.4%-23.3%250.3%-40.1%150.3%193%28.2%-
BVPS (₹) 43.343.54951.554.858.960.471.189.4111.6128.2
Adj Net
Profit
14.16.2289.77.426.115.639.1115147158
Cash Flow from Ops. 39.72.734.938.516.46.29372.455.7153-
Debt/CF from Ops. 3.15143.39.335.91.91.51.60-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 9.2%11.9%20%5.3%
Adj EPS 29.4%81.5%111.1%28.2%
BVPS11.1%15.3%22.7%24.9%
Share Price - - - -0.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
7.43.213.44.33.110.25.813.231.632.629.2
Op. Profit
Mgn %
10.55.412.27.25.88.88.211.415.317.515.4
Net Profit
Mgn %
3.31.66.22.41.442.96.61315.821.3
Debt to
Equity
0.70.70.70.60.60.90.60.30.20-
Working Cap
Days
15517516318216215818916713313183
Cash Conv.
Cycle
1081121011149695125106858864

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 29.20%

Sales growth is growing at healthy rate in last 3 years 19.99%

Net Profit is growing at healthy rate in last 3 years 111.06%

Sales growth is not so good in last 4 quarters at -20.66%

Latest Financials - Uniparts India Ltd.

Standalone Consolidated
TTM EPS (₹) 35 31.3
TTM Sales (₹ Cr.) 743 1,178
BVPS (₹.) 128.2 199.7
Reserves (₹ Cr.) 533 856
P/BV 4.08 2.62
PE 14.91 16.67
From the Market
52 Week Low / High (₹) 501.60 / 722.15
All Time Low / High (₹) 501.60 / 722.15
Market Cap (₹ Cr.) 2,357
Equity (₹ Cr.) 45.1
Face Value (₹) 10
Industry PE 45.7

Management X-Ray of Uniparts India:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.150.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Uniparts India

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales422394450412529653538591883929
Operating Expenses 385373395383498599494524748767
Manufacturing Costs9579126125166150113122166164
Material Costs186179181164226283233257373394
Employee Cost 6668748091108106102125131
Other Costs 38461414165842438378
Operating Profit 3721552931544467135162
Operating Profit Margin (%) 8.7%5.3%12.1%7.1%5.8%8.2%8.2%11.4%15.3%17.4%
Other Income 285121168194253
Interest 1197661211533
Depreciation 12131314151925252526
Exceptional Items 0000100000
Profit Before Tax 166392122301656149185
Tax 70115760132836
Profit After Tax 96281715231643121150
PAT Margin (%) 2.1%1.5%6.2%4.0%2.8%3.6%2.9%7.3%13.7%16.1%
Adjusted EPS (₹)2.11.46.33.73.35.33.59.727.233.5
Dividend Payout Ratio (%)24%37%12%0%0%23%0%0%34%43%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 191194218230244263269317399498
Share Capital 22454545454545454545
Reserves 169149174185200218225273354453
Minority Interest0000000000
Debt114125132118143209156106880
Long Term Debt3119177153817300
Short Term Debt83107115110128172139103880
Trade Payables26303038614736716955
Others Liabilities 59484748596271596461
Total Liabilities 390397428433507581533553620615

Fixed Assets

Gross Block211220252261162340363377399411
Accumulated Depreciation6276891020128147169192210
Net Fixed Assets149143163160162212215208207201
CWIP 212113078113
Investments 50505050505051515467
Inventories79828192119144128134155153
Trade Receivables737786839110185116161129
Cash Equivalents 322121056529
Others Assets34424337525642373832
Total Assets 390397428433507581533553620615

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 4033538166937256153
PBT 166392122301656149185
Adjustment 2217161920253016-3-16
Changes in Working Capital 4-20-119-19-435214-6122
Tax Paid -2-1-10-6-6-5-4-13-29-39
Cash Flow From Investing Activity -30-4-31-20-37-43-230420
Capex -30-8-34-20-37-47-29-10-24-13
Net Investments 000000000-16
Others 0530046112849
Cash Flow From Financing Activity -100-4-192150-74-72-60-150
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 130-3-9822-20-24-30
Interest Paid -10-8-6-5-4-10-9-4-2-2
Dividend Paid 0-5-400-5-50-40-53
Others -14128-51742-40-43-14-94
Net Cash Flow 0-10-1113-41023
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)4.833.1413.67.46.169.245.9314.833.8733.34
ROCE (%)8.494.6613.367.597.259.275.7413.9833.0737.92
Asset Turnover Ratio1.141.031.120.981.131.20.971.091.511.51
PAT to CFO Conversion(x)4.440.51.252.241.070.265.811.670.461.02
Working Capital Days
Receivable Days61676573605463625757
Inventory Days67736475727492816061
Payable Days41576176806965766858

Uniparts India Ltd Stock News

Uniparts India Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Uniparts India on 28-Mar-2024 16:01 is ₹521.5.
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 28-Mar-2024 16:01 the market cap of Uniparts India stood at ₹2,357.3.
The latest P/E ratio of Uniparts India as of 28-Mar-2024 16:01 is 14.91.
The latest P/B ratio of Uniparts India as of 28-Mar-2024 16:01 is 4.08.
The 52-week high of Uniparts India is ₹722.1 and the 52-week low is ₹501.6.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Uniparts India is ₹742.6 ( Cr.) .

About Uniparts India Ltd

The company was incorporated as ‘Uniparts India Limited’ under the Companies Act, 1956 at Delhi, pursuant to a certificate of incorporation dated September 26, 1994 issued by the Registrar of Companies, Delhi and Haryana at Delhi (RoC). The company received a certificate of commencement of business on September 7, 1998 from the RoC.

Uniparts India is a global manufacturer of engineered systems and solutions and is one of the leading suppliers of systems and components for the off-highway market in the agriculture and construction, forestry and mining (CFM) and aftermarket sectors on account of its presence across many countries. It is a concept-to-supply player for precision products for off-highway vehicles (OHVs) with presence across the value chain. Its product portfolio includes core product verticals of 3-point linkage systems (3PL) and precision machined parts (PMP) as well as adjacent product verticals of power take off (PTO), fabrications and hydraulic cylinders or components thereof. It has a leading presence in the manufacture of 3PL and PMP products globally on account of it serving some of the largest global companies. Most of its products are structural and load bearing parts of the equipment and are subject to strict tolerances, specifications and process controls. A series of precision engineering process steps converge in to manufacturing of these products. It also caters to the aftermarket segment especially for 3PL product range. It provides replacements of 3PL parts to organized aftermarket retailers and distributors in North America, Europe, South Africa and Australia.

The company offers fully integrated engineering solutions from conceptualization, development and validation to implementation and manufacturing of its products. The conceptualization stage involves acquiring market intelligence, assessing customer requirement and formulating customized strategy for individual customers. The development phase includes product designing, material procurement and processing. This is followed by the validation phase, which involves prototyping, testing and feasibility analysis. Its in-house manufacturing and implementation competencies include forging, machining, fabrications, heat treatment, surface finish, logistics, quality and testing, design and validation. By means of servicing its aftermarket segment customers, its products find indirect access to a large set up of retail stores across geographies for aftermarket components. Within the aftermarket category, it is focused on the ‘will-fit’ parts segment, sold to distributors and retail chain stores.

Business area of the company

The company is a manufacturer of engineered systems and solutions. The company provides comprehensive solutions and manufacture high-quality, critical products and components for Off Highway Vehicles (OHV) industry, including complete assemblies of precision engineered products and end-to-end solutions ranging from product conceptualization, design, prototyping, testing, development and assembly to customized packaging and delivery.

Awards and Accreditations

  • 1998: UOI was awarded with (i) outstanding supplier performance; and (ii) recognition to the people of Olsen for their excellence in quality, teamwork and customer service, by Dubuque Works.
  • 2000: UOI was awarded with ‘10 Year Hall of Fame’ (1991 – 2000) by John Deere Davenport Works.
  • 2002: The Company was awarded with ‘All India Certificate of Export Excellence’ in recognition of achieving highest exports during 2001–2002 amongst SSI units in the Agricultural Machinery Panel by Engineering Export Promotion Council.
  • 2002: GFPL was awarded with ‘All India Trophy for Highest Exporters’ in the category of capital goods exporters – SSI during 2001 – 2002 by Engineering Export Promotion Council.
  • 2003: The Company was awarded with ‘All India Certificate of Export Excellence’ in recognition of achieving highest exports during 2002–2003 amongst SSI units in the Agricultural Machinery Panel by Engineering Export Promotion Council.
  • 2005: UOI was awarded with ‘15 Year Hall of Fame’ (1991–2005) by John Deere.
  • 2007: The Company was awarded with ‘All India Award for Export Excellence’ for special contribution for highest growth in exports as large enterprise by Engineering Export Promotion Council.
  • 2008: The Company was awarded with a gold trophy for ‘Top Exporter of the year’ 2007-2008 by Engineering Export Promotion Council.
  • 2010: Recognition at JCB Annual Supplier Conference by JCB India Limited.
  • 2013: The Company won the first prize at CII Kaizen Competition.
  • 2014: The Company was awarded with ‘Best Supplier Award’ for overall performance by Tractors and Farm Equipment Limited.
  • 2014: The Company was awarded with ‘Kubota India GM Award’.
  • 2015: The Company was ranked at 432 by the Fortune India Next 500.
  • 2016: Uniparts Group was awarded with ‘Company with Great Managers’ Trophy at the Great Manager Awards.
  • 2017: The Company was awarded with ‘Innovative use of Training and Development as an HR Initiative for OD’ by Global Training Development Leadership.
  • 2018: The Company was awarded two awards at the 9th National Kaizen Competition by Chamber of Industrial & Commercial Undertaking.
  • 2018: The Company was awarded with ‘Special Trophy for Excellence in Exports of MEIS items 2015-20 Large Enterprise’ by Engineering Export Promotion Council.
  • 2018: The Company was awarded with ‘Best Supplier Award’ for outstanding contribution in co-creating value by TAFE.
  • 2019: The Company was awarded with ‘Overall Excellence in Procurement and Sourcing Cost Reduction’ in Procurement Tech Summit and Awards 2019.
  • 2019: The Company won a silver trophy at the CII National Kaizen Circle Competition 2019.
  • 2020: The Company was awarded ‘Most Versatile Supplier 2020’ by Kubota India.
  • 2021: The Company was recognized as “A Most Emerging Supplier” by Kubota Manufacturing Trading Japan.
  • 2021: The Company was awarded the “Delivery Performance Award” by Kubota Agriculture India.
  • 2022: The Company was awarded with a “Certificate of Excellence” for the year 2021 at the Indian Supplier Meet – 2022 by Kubota India.

Major events

  • 1994: Incorporation of the Company.
  • 2000: Commenced sales to domestic OEMs in agriculture sector in India and developed its 3PL OEM product vertical.
  • 2000: Established the first facility in Noida, Uttar Pradesh.
  • 2001: Commenced sales to John Deere in India.
  • 2002: Commenced sales to John Deere in Spain.
  • 2003: Commenced sales to John Deere in the USA.
  • 2004: Commenced sales to OEMs in Japan.
  • 2005: Consolidated various businesses into the Company including those of Gripwel Fasteners, Farmparts Company and SKG Engineering Private Limited.
  • 2005: Incorporated UUL as a wholly owned subsidiary and acquired a majority stake in UOI.
  • 2005: Acquired a manufacturing and distribution facility in the USA, in Eldridge, Iowa.
  • 2005: Commenced sales to OEMs in the construction sector in the USA.
  • 2005: Set up a warehousing and distribution facility in Augusta, Georgia.
  • 2006: Commenced manufacturing products for the PMP vertical in India.
  • 2007: Acquired the balance equity stake in UOI.
  • 2007: Acquired 50% + 1 share equity interest in Kavee (a joint venture with Kramp), which owned 100% interest in Uniparts Kavee Services B.V.
  • 2007: Ashoka Investment Holdings Limited and Ambadevi Mauritius Holding Limited made an equity investment in the Company.
  • 2007: Consolidated the business of Sweaty Spirit Apparel Limited (formerly known as Ace Tractor Parts Limited) into the Company.
  • 2007: Started manufacturing hydraulic cylinder components in one of the Noida facilities in Uttar Pradesh.
  • 2008: Commenced operations at the manufacturing facility located at Visakhapatnam, Andhra Pradesh.
  • 2008: GFPL became a wholly owned subsidiary of the Company.
  • 2010: Set up a warehousing and distribution facility in Hennef, Germany.
  • 2011: Started sales to the hydraulics market in USA from the manufacturing facility located at Visakhapatnam, Andhra Pradesh.
  • 2012: Commenced sale of components for the European construction OEM market.
  • 2013: Sold entire equity interest in Kavee, with effect from April 1, 2012, to Kramp.
  • 2017: Added raw material storage space in Noida, Uttar Pradesh.
  • 2018: Commenced sales to Kobelco.
  • 2018: Added warehousing space at facility in Augusta, USA.
  • 2018: Added additional distribution centre and office space in Noida, Uttar Pradesh.
  • 2018: Moved the warehousing facility of UUL to new larger leased location in Richmond County, Georgia.
  • 2021: Incorporation of GCPL, a wholly owned subsidiary of Company.
  • 2022: Uniparts Europe B.V. was liquidated and de-registered and is therefore no longer a direct Subsidiary of Company.
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