GNA Axles Ltd - Stock Valuation and Financial Performance

BSE: 540124 | NSE: GNA | Auto Ancillary | Small Cap

GNA Axles Share Price

380.90 -6.80 -1.75%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on GNA Axles

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

GNA Axles stock performance -

mw4me loader
P/E Ratio (SA):
13.94
Market Cap:
1,635 Cr.
52-wk low:
365.5
52-wk high:
582.1

Is GNA Axles Ltd an attractive stock to invest in?

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 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.

10 Year X-Ray of GNA Axles:

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.
GNA Axles 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 % 10.6%9.9%13.1%11.1%12.4%14.4%10.3%11.3%12.6%15.9%-
Value Creation
Index
-0.2-0.3-0.1-0.2-0.10.0-0.3-0.2-0.10.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 4024265095136709359098901,2701,5831,519
Sales YoY Gr.-6.1%19.4%1%30.5%39.5%-2.8%-2.1%42.8%24.6%-
Adj EPS 4.84.98.66.911.916.412.316.520.730.327.3
YoY Gr.-2.7%73.3%-19.5%72%38.4%-25.1%33.9%25.7%46.7%-
BVPS (₹) 34.437.145.669.279.593.6104.1120.6138.7166.5185.9
Adj Net
Profit
14.6152629.650.970.452.770.688.8130117
Cash Flow from Ops. 29.214.274.5-90.359.772.211933.241.4105-
Debt/CF from Ops. 5.212.91.9-1.32.42.41.65.95.41.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 16.5%18.8%20.3%24.6%
Adj EPS 22.7%20.7%35.2%46.7%
BVPS19.2%15.9%16.9%20.1%
Share Price - 18.3% 29.5% -2.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
1513.820.713.6161912.414.61619.915.5
Op. Profit
Mgn %
12.113.216.215.715.416.213.716.214.214.714.5
Net Profit
Mgn %
3.63.55.15.87.67.55.87.978.27.7
Debt to
Equity
1.41.610.40.40.40.40.40.40.3-
Working Cap
Days
174189192226225196207234200181100
Cash Conv.
Cycle
46544860798510511810510347

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 20.31%

Net Profit is growing at healthy rate in last 3 years 35.15%

Return on Equity has declined versus last 3 years average to 15.50%

Sales growth is not so good in last 4 quarters at 3.00%

Latest Financials - GNA Axles Ltd.

Standalone Consolidated
TTM EPS (₹) 27.3 27.3
TTM Sales (₹ Cr.) 1,519 1,519
BVPS (₹.) 185.9 185.8
Reserves (₹ Cr.) 755 755
P/BV 2.05 2.05
PE 13.94 13.95
From the Market
52 Week Low / High (₹) 365.52 / 582.05
All Time Low / High (₹) 66.00 / 582.05
Market Cap (₹ Cr.) 1,635
Equity (₹ Cr.) 42.9
Face Value (₹) 10
Industry PE 46.3

Management X-Ray of GNA Axles:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *8.638.628.588.577.204.794.794.792.390.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of GNA Axles

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
Sales4024265095136709359098901,2701,583
Operating Expenses 3533704264335677907857461,0901,350
Manufacturing Costs8798102110141176177145195247
Material Costs228227269267351510494481722920
Employee Cost 9182427293334434955
Other Costs 2927312946718077123128
Operating Profit 48568280103145125144181233
Operating Profit Margin (%) 12.0%13.2%16.2%15.7%15.4%15.5%13.7%16.2%14.2%14.7%
Other Income 3503301211
Interest 15171613781491111
Depreciation 17232724253542415049
Exceptional Items 0000000000
Profit Before Tax 18213947741037096121175
Tax 461317233717253244
Profit After Tax 151526305166537189130
PAT Margin (%) 3.6%3.5%5.1%5.8%7.6%7.0%5.8%7.9%7.0%8.2%
Adjusted EPS (₹)4.84.98.66.911.915.312.316.520.730.3
Dividend Payout Ratio (%)0%0%0%0%8%9%0%15%12%10%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 104113138297341402447518595715
Share Capital 15151521212121212121
Reserves 8998123275320380425496574693
Minority Interest0000000000
Debt15018211799124152163172207186
Long Term Debt768442262574105764730
Short Term Debt7498757399795795160156
Trade Payables96119154152183188166228201225
Others Liabilities 21133729344046433742
Total Liabilities 3724264475776827828219601,0411,168

Fixed Assets

Gross Block248285301308392464521611656719
Accumulated Depreciation103126153177201235277316365413
Net Fixed Assets145159147132191229244295291306
CWIP 24003016610012
Investments 0000000000
Inventories619291110154161145153188188
Trade Receivables111122162182235312296438474561
Cash Equivalents 111722602119527
Others Assets29524578766453558374
Total Assets 3724264475776827828219601,0411,168

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 291474-9060721193341105
PBT 18213947741037096121175
Adjustment 32384232304255486057
Changes in Working Capital -17-397-149-20-3714-86-106-80
Tax Paid -4-6-14-20-24-36-20-25-33-46
Cash Flow From Investing Activity -50-13-16-8-78-88-123-28-46-66
Capex -500-15-11-81-89-103-30-46-75
Net Investments 000000-21000
Others 0-13-23301109
Cash Flow From Financing Activity 20-1-589819164-54-39
Net Proceeds from Shares 000130000000
Net Proceeds from Borrowing 22-8-20-19-14845-35-40-15
Interest Paid -15-16-15-11-6-6-13-8-10-10
Dividend Paid 00000-5-70-11-11
Others 1223-23-226-20-223865-4
Net Cash Flow -1000000000
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)1513.8320.6913.615.9417.7312.4314.6515.9519.88
ROCE (%)14.1313.8519.4617.1918.0720.9913.7715.4417.2121.39
Asset Turnover Ratio1.161.131.231.061.081.281.1311.271.43
PAT to CFO Conversion(x)1.930.932.85-31.181.092.250.460.460.81
Working Capital Days
Receivable Days909497116113107122151131119
Inventory Days52626268716161614943
Payable Days14617318520917413313114910885

GNA Axles Ltd Stock News

GNA Axles Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of GNA Axles on 28-Mar-2024 16:01 is ₹380.9.
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 GNA Axles stood at ₹1,635.
The latest P/E ratio of GNA Axles as of 28-Mar-2024 16:01 is 13.94.
The latest P/B ratio of GNA Axles as of 28-Mar-2024 16:01 is 2.05.
The 52-week high of GNA Axles is ₹582.0 and the 52-week low is ₹365.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of GNA Axles is ₹1,519 ( Cr.) .

About GNA Axles Ltd

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

  • 1994: Company obtained certificate for commencement of business.
  • 1995: Company started supply of fully finished and ready to assemble mechanised axle shafts to OEMs, such as Mahindra & Mahindra.
  • 2002 - 2003: Started exports to USA and Europe.
  • 2004: Installed 13” Upsetter with new heat treatment shop.
  • 2007: Commissioned 66 kVA dedicated electricity supply line for Unit I.
  • 2008: Invested in forging technology for rear axle shafts with direct drive screw press supported by robots.
  • 2012: Commissioned Unit II with facility for commercial vehicle axle shafts and spindles machining.
  • 2013: Commissioned Lasco extrusion press supported by robots and electric heat treatment furnace at Unit II Commissioned direct drive screw press for heavy axle shaft forgings supported by robots at Unit I.
  • 2015: Commissioned 66 kVA dedicated electricity supply line for Unit II.
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