Auto.Axle

₹1863 -11.2 | 0.6%

WEBSITE BSE:505010 NSE : AUTO AXLES 10 May, 16:01

Market Cap ₹2815 Cr.

Stock P/E 16.3

P/B 3.4

Current Price ₹1863

Book Value ₹ 550.9

Face Value 10

52W High ₹2690

Dividend Yield 1.72%

52W Low ₹ 1741.8

Edit Ratio

Auto.Axle Research see more...

Overview Inc. Year: 1981Industry: Auto Ancillary

Automotive Axles Ltd is an India-based organization engaged inside the manufacturing of automobile axles. The Company operates through the section of manufacturing and sale of automotive components. The Company manufactures drive axles, non-drive axles, front steer axles, speciality and protection axles and drum and disc brakes. It provides these merchandise to the important domestic and worldwide producers of truck and buses, such as light, medium and heavy commercial automobiles, military and off-motorway motors, aftermarket and exports. The Company has a portfolio of auto components, and it additionally designs engineering modules or systems comprising gearing, integral brake to axle layout, weight option designs and driver-operated differential locks. It provides its products to the home and global manufacturers of trucks and buses in segments, including light, medium and heavy industrial vehicles; off highway vehicles; navy, aftermarket, and exports.

Auto.Axle Share Price

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Quarterly Price

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Peer Comparison

Auto.Axle Quarterly Results

#(Fig in Cr.)	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Jun 2022	Sep 2022	Dec 2022	Jun 2023	Sep 2023	Dec 2023
Net Sales	426	255	309	374	500	475	656	532	584	541
Other Income	1	1	1	2	1	1	1	2	4	4
Total Income	427	256	310	376	501	476	657	534	588	546
Total Expenditure	381	239	287	339	449	424	578	473	518	483
Operating Profit	46	17	23	37	53	52	79	61	70	62
Interest	1	1	1	1	1	1	1	1	1	1
Depreciation	9	8	9	9	10	10	10	9	9	9
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	36	8	14	27	42	41	68	51	60	53
Provision for Tax	10	2	4	7	11	10	17	13	15	13
Profit After Tax	27	6	10	20	30	30	51	38	45	39
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	27	6	10	20	30	30	51	38	45	39
Adjusted Earnings Per Share	17.6	3.7	6.7	13.1	20.1	19.9	33.5	25	29.8	25.9

Auto.Axle Profit & Loss

#(Fig in Cr.)	Sep 2013	Sep 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	643	677	459	1086	1172	1519	1939	952	906	1491	2324	2313
Other Income	2	6	3	2	2	5	3	8	7	4	5	11
Total Income	644	683	462	1088	1174	1524	1942	960	913	1495	2329	2325
Total Expenditure	589	620	424	991	1059	1354	1713	859	840	1356	2066	2052
Operating Profit	56	63	38	97	115	170	229	101	73	139	262	272
Interest	9	7	4	6	1	1	1	2	3	2	3	4
Depreciation	29	29	17	39	39	43	46	37	36	36	41	37
Exceptional Income / Expenses	0	0	0	0	0	0	0	-2	-4	0	0	0
Profit Before Tax	19	26	16	52	75	126	182	60	30	100	218	232
Provision for Tax	6	8	6	17	26	44	64	19	7	26	56	58
Profit After Tax	13	18	11	35	49	82	119	41	23	74	162	173
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	13	18	11	35	49	82	119	41	23	74	162	173
Adjusted Earnings Per Share	8.4	12	7	23	32.7	54.5	78.5	27.2	15	49.2	107.2	114.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	56%	35%	9%	14%
Operating Profit CAGR	88%	37%	9%	17%
PAT CAGR	119%	58%	15%	29%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-24%	21%	12%	18%
ROE Average	23%	13%	14%	12%
ROCE Average	31%	18%	20%	17%

Auto.Axle Balance Sheet

#(Fig in Cr.)	Sep 2013	Sep 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	280	294	302	327	377	444	538	532	554	621	759
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	19	11	3	0	0	0	66	19	15	10	6
Other Non-Current Liabilities	16	12	29	16	5	-1	-7	9	6	9	15
Total Current Liabilities	150	256	209	216	182	285	321	158	365	397	372
Total Liabilities	466	574	542	559	564	728	918	718	940	1037	1152
Fixed Assets	183	166	177	168	146	118	109	255	245	259	245
Other Non-Current Assets	17	33	41	23	22	38	166	54	58	24	25
Total Current Assets	267	375	325	367	395	573	644	409	637	755	881
Total Assets	466	574	542	559	564	728	918	718	940	1037	1152

Auto.Axle Cash Flow

#(Fig in Cr.)	Sep 2013	Sep 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	1	1	0	3	0	35	44	40	74	73	74
Cash Flow from Operating Activities	54	-6	92	57	97	51	106	198	49	43	52
Cash Flow from Investing Activities	-24	-25	-19	-25	-23	-27	-157	-59	-40	-27	-84
Cash Flow from Financing Activities	-30	30	-70	-35	-40	-15	47	-105	-10	-15	-31
Net Cash Inflow / Outflow	-0	-0	3	-3	35	9	-4	34	-1	2	-63
Closing Cash & Cash Equivalent	1	0	3	0	35	44	40	74	73	74	11

Auto.Axle Ratios

#	Sep 2013	Sep 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	8.4	12.03	6.98	23.01	32.7	54.46	78.55	27.22	15.04	49.2	107.22
CEPS(Rs)	27.28	31.54	18.44	49.11	58.58	82.88	109.11	51.85	38.87	73.3	134.6
DPS(Rs)	2	2.5	1	5.5	8	13.5	19.5	6.8	4.5	15	32
Book NAV/Share(Rs)	185.6	194.71	200.13	216.52	249.2	294.03	356.3	352	366.63	410.97	502.46
Core EBITDA Margin(%)	7.56	7.57	6.96	7.88	8.7	10.63	11.67	9.8	7.27	9.03	11.08
EBIT Margin(%)	3.79	4.4	4.05	4.74	5.86	8.16	9.44	6.49	3.66	6.88	9.51
Pre Tax Margin(%)	2.6	3.44	3.24	4.27	5.76	8.12	9.41	6.3	3.33	6.71	9.39
PAT Margin (%)	1.78	2.42	2.07	2.88	3.8	5.3	6.12	4.32	2.51	4.99	6.97
Cash Profit Margin (%)	5.78	6.34	5.48	6.15	6.8	8.06	8.5	8.23	6.49	7.43	8.75
ROA(%)	2.45	3.5	1.89	6.32	8.81	12.74	14.42	5.03	2.74	7.52	14.8
ROE(%)	4.6	6.33	3.53	11.05	14.04	20.05	24.16	7.69	4.19	12.66	23.48
ROCE(%)	8.22	9.21	5.49	15.84	20.78	30.87	34.67	10.59	5.88	16.97	31.45
Receivable days	69.84	69.4	124.72	56.53	60.19	66.49	64.09	89.92	81.57	82.2	69.74
Inventory Days	46.71	49.25	82.58	34.27	29.35	27.71	30.26	65.25	71.86	48.95	33.77
Payable days	68.61	57.09	115.49	57.66	64.67	73.02	69.77	105.31	117.45	107.09	70.96
PER(x)	24.41	54.54	118.59	25.5	21.67	26.81	15.86	14.06	69.72	34.95	22.09
Price/Book(x)	1.11	3.37	4.13	2.71	2.84	4.96	3.5	1.09	2.86	4.18	4.71
Dividend Yield(%)	0.98	0.38	0.12	0.94	1.13	0.92	1.57	1.78	0.43	0.87	1.35
EV/Net Sales(x)	0.56	1.6	2.85	0.84	0.88	1.42	0.99	0.55	1.69	1.7	1.52
EV/Core EBITDA(x)	6.47	17.31	34.5	9.48	8.98	12.74	8.36	5.22	20.99	18.23	13.5
Net Sales Growth(%)	-31.69	5.35	-32.17	136.5	7.95	29.6	27.62	-50.91	-4.87	64.6	55.89
EBIT Growth(%)	-64.54	22.1	-37.65	177.36	33.33	66.21	44.41	-66.25	-46.35	209.4	115.58
PAT Growth(%)	-71.79	43.17	-42.01	229.86	42.11	66.53	44.23	-65.35	-44.74	227.14	117.9
EPS Growth(%)	-71.79	43.17	-42.01	229.86	42.11	66.53	44.23	-65.35	-44.74	227.14	117.9
Debt/Equity(x)	0.18	0.31	0.21	0.09	0	0	0.14	0.04	0.03	0.02	0.01
Current Ratio(x)	1.77	1.46	1.56	1.7	2.17	2.01	2	2.59	1.74	1.9	2.37
Quick Ratio(x)	1.18	1.02	1	1.19	1.63	1.53	1.43	1.6	1.19	1.4	1.76
Interest Cover(x)	3.18	4.59	4.99	10.1	61.84	231.26	333.35	34.18	11.16	41.56	75.82
Total Debt/Mcap(x)	0.17	0.09	0.05	0.03	0	0	0.04	0.04	0.01	0.01	0

Auto.Axle Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	71.04	71.04	71.04	71.04	71.04	71.04	71.04	71.04	71.04	71.04
FII	1.43	1.08	1.35	0.74	0.71	0.73	0.7	0.67	0.63	0.52
DII	13.5	14.45	13.31	13.2	13.88	13.52	12.47	12	11.96	11.97
Public	14.03	13.43	14.3	15.02	14.37	14.7	15.8	16.3	16.37	16.47
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	1.07	1.07	1.07	1.07	1.07	1.07	1.07	1.07	1.07	1.07
FII	0.02	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01
DII	0.2	0.22	0.2	0.2	0.21	0.2	0.19	0.18	0.18	0.18
Public	0.21	0.2	0.22	0.23	0.22	0.22	0.24	0.25	0.25	0.25
Others	0	0	0	0	0	0	0	0	0	0
Total	1.51	1.51	1.51	1.51	1.51	1.51	1.51	1.51	1.51	1.51

Pros

Debtor days have improved from 107.09 to 70.96days.
Company has reduced debt.
Company is almost debt free.

Cons

Company has a low return on equity of 13% over the last 3 years.
Stock is trading at 3.4 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.