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Frontier Springs Ltd (FRONTSP)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 522195 NSE: FRONTSP Steel & Iron Products | Small Cap | Frontier Springs Share Price

₹1,419.70 -1.25 (-0.09%)

As on 25-Jun'26 16:59

Frontier Springs Ltd (FRONTSP)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 522195 NSE: FRONTSP Steel & Iron Products | Small Cap | Frontier Springs Share Price

₹1,419.70 -1.25 (-0.09%)

As on 25-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,677 Cr.
Current Price
₹1,419.7
52-Week Low / High
₹1,175 / 1,870
TTM EPS
₹51.9
TTM Sales
₹322 Cr.
Book Value per Share
₹155.2
P/E Ratio
27.36
Lower than its 5-year historical median
Industry PE
24.4
Price to Book (P/B)
9.15
Higher than its 5-year historical median
Price to Sales (P/S)
5.21
Higher than its 5-year historical median
EV/EBITDA
19.27
In line with its 5-year historical median
Dividend Yield
0.04%
Profitability Efficiency
Return on Equity (ROE)
32.53%
Outperforms industry median
Return on Capital Employed (ROCE)
42.18%
Outperforms industry median
Return on Assets (ROA)
23.68%
Operating Profit Margin
21.6%
Net Profit Margin
14.98%
Gross Profit Margin
18.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
70.84%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
136.5%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
166.82%
Asset Quality
Promoter Holding
51.76%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹172 Cr.
Equity
₹11.8 Cr.
Face Value
₹10
All Time Low / High
₹0.07 / 1870.05

Frontier Springs stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Frontier Springs Ltd a good quality company?
Frontier Springs Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Frontier Springs Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Frontier Springs Ltd vs industry peers?
Frontier Springs Ltd revenue CAGR is 18.29%, compared to the industry median CAGR of 7.56%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Frontier Springs Ltd?
Promoters hold 51.76% of the Frontier Springs Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Frontier Springs Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 70.6% based on the current price.

10 Year X-Ray : Login to view analysis.

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.
Frontier Springs Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 7.8%10.9%17.8%25.9%35.3%18.3%15.5%13.9%21%42.2%-
Value Creation
Index
-0.5-0.20.30.91.50.30.1-00.52.0-

Growth Parameters

Sales 40.948.859.583.399.97783.7107135231322
Sales YoY Gr.-19.3%22%40%19.9%-22.9%8.7%28.3%26.1%70.8%-
Adj EPS 0.41.83.17.111.76.46.16.110.82951.9
YoY Gr.-320.9%68.5%131.5%65.2%-45.5%-3.5%-0.2%76%168.8%-
BVPS (₹) 20.322.125.131.943.450.457.163.175.5104.9155.2
Adj Net
Profit
0.52.13.68.313.87.57.37.212.734.261
Cash Flow from Ops. 1.36.36.78.810.11110.29.611.622.1-
Debt/CF from Ops. 9.92.21.910.90.30.30.50.30.3-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 21.2%18.3%40.4%70.8%
Adj EPS 59.6%20%67.8%168.8%
BVPS20%19.3%22.5%38.9%
Share Price 66.6% 72.4% 118.9% -7.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
2.18.512.924.730.913.511.410.215.532.139.9
Op. Profit
Mgn %
9.611.414.715.820.316.914.612.115.621.626.8
Net Profit
Mgn %
1.34.46.11013.89.88.76.79.414.819
Debt to
Equity
0.50.50.40.20.20.10.10.100.10
Working Cap
Days
2031841431151091761691281209252
Cash Conv.
Cycle
8669412933795747413639

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales414959831007784107135231
Operating Expenses + 3743517080647194114181
Manufacturing Costs10121521241910253043
Material Costs202227364029355267115
Employee Cost 2223333456
Other Costs 67711121323131317
Operating Profit 46913201312132150
Operating Profit Margin (%) 9.6%11.3%14.6%15.7%20.3%16.9%14.6%12.1%15.6%21.6%
Other Income + 0011111111
Exceptional Items 0000000000
Interest 2221110111
Depreciation 1222233344
Profit Before Tax 12510181110101746
Tax 00224333412
Profit After Tax 1248148871335
PAT Margin (%) 1.2%4.4%6.0%10.1%14.0%10.1%9.0%6.7%9.6%15.0%
Adjusted EPS (₹)0.41.83.07.111.96.66.46.111.029.3
Dividend Payout Ratio (%)0%0%0%4.70%3.10%0%5.20%5.40%4.60%2.10%

Valuation of Frontier Springs - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 242630385160677589124
Share Capital 4444444444
Reserves 202226344756637185120
Debt +1314129943546
Long Term Debt6663321112
Short Term Debt7876622334
Minority Interest0000000000
Trade Payables12121316131414242230
Others Liabilities 43455676910
Total Liabilities 52555968788392110123169

Fixed Assets

Net Fixed Assets +23272930333436424556
Gross Block34404346515560687589
Accumulated Depreciation11131416182123263033
CWIP 1100101121
Investments 00235813151825
Inventories15161518161721303140
Trade Receivables1071011161817162238
Cash Equivalents 2211332225
Others Assets 2223432334
Total Assets 52555968788392110123169

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 1679101110101222
PBT 12510181110101746
Adjustment 3333233464
Changes in Working Capital -22-0-2-70-0-1-7-17
Tax Paid -0-0-1-2-3-3-3-2-4-11
Cash Flow From Investing Activity + -3-6-4-4-8-5-10-10-10-20
Capex -3-6-3-3-7-2-6-9-8-15
Net Investments 0-0-2-1-2-4-5-2-3-7
Others 0011111111
Cash Flow From Financing Activity + 1-0-3-5-1-6-11-21
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 01-0-301-00-01
Interest Paid -1-1-1-1-1-0-0-0-0-0
Dividend Paid 000-0-00-0-0-1-1
Others 30-1-1-0-601-12
Net Cash Flow 00-1010-1003

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)2.148.5212.7724.9231.4914.0711.8410.215.8632.53
ROCE (%)7.7510.9417.8325.8635.3318.2915.4513.9420.9742.18
Asset Turnover Ratio0.90.971.171.511.590.950.951.261.381.87
PAT to CFO Conversion(x)131.751.130.711.381.251.430.920.63
Working Capital Days
Receivable Days73.4061.3047.6041.1042.9078.9075.1047.4043.7040.40
Inventory Days113.80107.7083.8063.4054.6079.4082.6072.9069.6047
Payable Days195.30197172148.20132.40168.10148.80134.90125.5081.20

Management X-Ray

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 (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Frontier Springs Ltd FAQs

The current trading price of Frontier Springs on 25-Jun-2026 16:59 is ₹1,419.7.

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 24-Jun-2026 the market cap of Frontier Springs stood at ₹1,677.5 Cr

The latest P/E ratio of Frontier Springs as of 24-Jun-2026 is 27.36.

The latest P/B ratio of Frontier Springs as of 24-Jun-2026 is 9.15.

The 52-week high of Frontier Springs is ₹1,870.1 and the 52-week low is ₹1,174.6.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Frontier Springs is ₹322 ( Cr.) .

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

The key valuation ratios of Frontier Springs 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 Frontier Springs Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Frontier Springs Ltd

Frontier Springs, is the world’s leading manufacturer of hot wound springs for transportation, industrial and government applications.

With a state-of-the-art manufacturing facility, covering more than 50,000 sq. ft., they offer a modern, streamlined operation that allows us to deliver high quality springs worldwide. Whether it’s an order for one spring or a million, Frontier is ready to meet requirements.

Frontier Springs has been meeting and satisfying the hot wound spring requirements of the transportation and heavy equipment industrial marketplace since 1980. They continuing commitment to quality, innovation and complete customer satisfaction is ‘’built into’’every product they manufacture.

Their ISO certification and investments in innovative technologies & custom design capabilities allows them to keep pace with the rigorous quality standards that are necessary in today’s ever-changing world market.For Rail Road and Transportation applications, Frontier maintains a large inventory of hot wound springs.

Product range of the company includes:

Hot coil springs supplying to Heavy Engineering. Industries, O.E. Manufacturers in India & Abroad in order to obtain better space utilization, more fatigue and weight reduction, different type of Coil Springs are manufactured at Frontier.

  • Hot Coil Springs
  • Leaf Springs
  • Steel Grade

Frontier makes the following types of hot wound springs:

  • - Mass Transit Springs - Locomotive Springs - Replacement Springs - Vibration Control Springs
  • - Industrial Springs  - OEM Springs - Triple Coil Springs - Double Coil Springs - Single Coil Springs
  • - Railroad Springs - Transit Car Springs - Helical Steel Springs - Truck Springs - Buffer Springs
  • - Side Bearing Springs - Journal Springs - Secondary Springs - Equalizer Springs - Primary Springs
  • - Pipe Hanger Springs - Valve Springs - Nuclear Valve Springs - Coal Crushing Springs
  • - Rail Road Passenger Springs - Shock Absorber Springs - Snow Plowing Springs - Actuator Springs
  • - Shaker Springs   - Mining Equipment Springs   - Draft Gear Springs   - Bogie spring  
  • - Pipe Support Springs   - Wagon Springs   - Brake Chamber Springs   - Condenser Springs 
  • - Power Generator Springs   - Conveyor Springs   - Agriculture Equipment Springs  
  • - Heavy Duty Coiled Springs   - Tractor Springs   - Large Coil Springs   - Compression Springs 
  • - Leaf Springs for Automobiles   - Laminated Bearing Springs 

Clientele:

  • Indian Railways
  • Chittaranjan Locomotive Works
  • Diesel Locomotives Works
  • Rail Coach Factory
  • Bharat Earth Movers Ltd.
  • Vehicle Factory (Defence)
  • Bharat Heavy Electricals Ltd.
  • Texmaco Ltd.
  • Simplex Castings Ltd.
  • Crompton Greeves Ltd.
  • National Thermal Power Corporation
  • Telco Construction Equipment Co. Ltd.

Awards & Achievements:

An ISO 9000:2001 certified company.

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