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BSE: 540124 | NSE: GNA | Auto Ancillary | Small Cap
1. Is GNA Axles Ltd a good quality company?
Past 10 year’s financial track record analysis by Moneyworks4me indicates that GNA Axles Ltd is a below average quality company.
2. Is GNA Axles Ltd undervalued or overvalued?
The key valuation ratios of GNA Axles Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
3. Is GNA Axles Ltd a good buy now?
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of GNA Axles 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.
Value Creation ⓘValue Creation Index Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'13 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | TTM | |||
| ROCE % ⓘ | 10.4% | 10.6% | 9.9% | 13.1% | 11.1% | 12.4% | 14.4% | 10.3% | 11.3% | 12.6% | - | ||
| Value Creation Index ⓘ | -0.3 | -0.2 | -0.3 | -0.1 | -0.2 | -0.1 | 0.0 | -0.3 | -0.2 | -0.1 | - | ||
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ |
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| Sales ⓘ | 346 | 402 | 426 | 509 | 513 | 670 | 935 | 909 | 890 | 1,270 | 1,500 | ||
| YoY Gr. Rt. % | - | 16% | 6.1% | 19.4% | 1% | 30.5% | 39.5% | -2.8% | -2.1% | 42.8% | - | ||
| Adj EPS ⓘ | 8.4 | 9.6 | 9.9 | 17.1 | 13.8 | 23.7 | 32.8 | 24.6 | 32.9 | 41.4 | 53.3 | ||
| YoY Gr. Rt. % | - | 14.3% | 2.8% | 73.1% | -19.5% | 71.9% | 38.3% | -25.1% | 33.9% | 25.7% | - | ||
| BVPS (₹) ⓘ | 59.3 | 68.7 | 74.3 | 91.2 | 138.3 | 159.1 | 187.2 | 208.2 | 241.2 | 277.4 | 322.3 | ||
| Adj Net Profit ⓘ | 12.8 | 14.6 | 15 | 26 | 29.6 | 50.9 | 70.4 | 52.7 | 70.6 | 88.8 | 114 | ||
| Cash Flow from Ops. ⓘ | 51.1 | 29.2 | 14.2 | 74.5 | -90.3 | 59.7 | 72.2 | 119 | 33.2 | 41.4 | - | ||
| Debt/CF from Ops. ⓘ | 2.6 | 5.2 | 12.9 | 1.9 | -1.3 | 2.4 | 2.4 | 1.6 | 5.9 | 5.4 | - | ||
CAGR ⓘCAGR Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
| Sales ⓘ | 15.6% | 19.9% | 10.8% | 42.8% | ||||||||
| Adj EPS ⓘ | 19.4% | 24.6% | 8% | 25.7% | ||||||||
| BVPS ⓘ | 18.7 | 14.9 | 14 | 15 | ||||||||
| Share Price | - | 12.7% | 79% | 50.4% | ||||||||
Key Financial Parameters ⓘPerformance Ratio Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'13 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | TTM | ||
| Return on Equity % ⓘ | 15.3 | 15 | 13.8 | 20.7 | 13.6 | 16 | 19 | 12.4 | 14.6 | 16 | 17.8 | |
| Op. Profit Mgn % ⓘ | 11.8 | 12.1 | 13.2 | 16.2 | 15.7 | 15.4 | 16.2 | 13.7 | 16.2 | 14.2 | 14.2 | |
| Net Profit Mgn % ⓘ | 3.7 | 3.6 | 3.5 | 5.1 | 5.8 | 7.6 | 7.5 | 5.8 | 7.9 | 7 | 7.6 | |
| Debt to Equity ⓘ | 1.5 | 1.4 | 1.6 | 1 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | - | |
| Working Cap Days ⓘ | 185 | 174 | 189 | 192 | 226 | 225 | 196 | 207 | 234 | 200 | 0 | |
| Cash Conv. Cycle ⓘ | 55 | 46 | 54 | 48 | 60 | 79 | 85 | 105 | 118 | 111 | 0 | |
Return on Equity has increased versus last 3 years average to 17.80%
Sales growth is growing at healthy rate in last 3 years 10.77%
Sales growth is good in last 4 quarters at 17.17%
Net Profit has been subdued in last 3 years 8.04%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 53.3 | 53.3 |
| TTM Sales (₹ Cr.) | 1,500 | 1,500 |
| BVPS (₹.) ⓘ | 322.3 | 322.2 |
| Reserves (₹ Cr.) ⓘ | 670 | 670 |
| P/BV ⓘ | 2.45 | 2.48 |
| PE ⓘ | 14.80 | 14.98 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 466.75 / 977.00 |
| All Time Low / High (₹) | 132.00 / 1107.35 |
| Market Cap (₹ Cr.) | 1,692 |
| Equity (₹ Cr.) | 21.5 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 31.9 |
| Pledged * | 19.11 | 17.04 | 10.83 | 10.83 | 8.63 | 8.62 | 8.58 | 8.57 | 7.20 | 4.79 |
Established in 1993, the company is among the leading manufacturers of rear axle shafts used in on-highway and off-highway vehicular segments in India. Since its first supplies in 1995 and its first exports in 2002-2003, the company has grown to production levels of more than 2.26 million components in Fiscal 2016. It manufactures and supplies a diverse range of rear axle shafts, other shafts and spindles for the on-highway segment, i.e. for light commercial vehicles (LCVs), medium commercial vehicles (MCVs) and heavy commercial vehicles (HCVs) and other transport vehicles such as buses. It also manufactures and supplies a diverse range of rear axle shafts and other shafts for the off-highway segment, i.e. for agricultural tractors and machinery, forestry and construction equipments, electric carts and other specialty vehicles used in mining and defense sectors. It also manufactures solid and hollow spindles used in the axle assembly for various vehicles and equipments in the on-highway segment which it supplies to its export customers.
The company has a broad customer base for both the on-highway and off-highway segments and its customers are based in India and overseas. Its customers primarily include original equipment manufacturers (OEMs) such as Mahindra & Mahindra, John Deere, Tractors and Farm Equipment (TAFE), and tier-1 suppliers to OEMs such as Automotive Axles, Meritor HVS AB and Dana.
The company has two manufacturing facilities: Unit I located in village Mehtiana, district Hoshiarpur, Punjab and Unit II located at village Gulabgarh Jattan, district Kapurthala, Punjab. Both of its manufacturing facilities are ISO/TS 16949:2009 certified for manufacture of rear axle shafts, other shafts and spindles for automotive applications. The company’s manufacturing facilities include machinery imported from various countries including Italy, Germany, Japan, China and Taiwan, used for various processes such as materials testing, forging, heat treatment, machining, induction hardening and packaging. Some of its significant machineries include 13” upsetter, direct drive screw press supported by robots, Lasco extrusion press supported by robots and electric heat treatment furnace, and direct drive screw press supported by robots for heavy axle shafts forgings.
Business area of the company
The company is Punjab based manufacturers of rear axle shafts, other shafts and spindles used in on-highway and off-highway vehicular segments in India. The company is mainly engaged in manufactures and sells auto components for the four-wheeler industry. GNA Axles made over 2.26 million components in 2016.
Key Milestones
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