Auto Ancillary · Founded 1980 · www.acglgoa.com · BSE 505036 · NSE AUTO COR.GOA · ISIN INE451C01013
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Business
Automobile Corporation of Goa Ltd. (AUTOCORP) operates in the Auto Ancillary sector in India. Its core business involves manufacturing and supplying various components primarily to the automotive industry. As an auto ancillary company, its business model is typically B2B, serving Original Equipment Manufacturers (OEMs) for new vehicle production, and potentially the aftermarket for spare parts. The company generates revenue by producing and selling these components, often under long-term supply contracts with automotive manufacturers.
Revenue Mix
Specific information on key segments and their revenue contribution for Automobile Corporation of Goa Ltd. is not available. However, in the auto ancillary industry, typical segmentations can include:
OEM Sales vs. Aftermarket Sales: Contribution from components supplied for new vehicle assembly versus spare parts for existing vehicles.
Product Categories: Breakdown by types of components manufactured (e.g., body parts, chassis components, electrical systems, seating systems, aggregates for buses/trucks).
Vehicle Segments: Contribution from supplies to different vehicle types (e.g., passenger vehicles, commercial vehicles, two-wheelers, tractors).
Without specific data, it's not possible to define AUTOCORP's precise revenue mix.
Industry
The Indian auto ancillary industry is diverse, competitive, and largely dependent on the health and growth of the automotive OEM sector. It includes a mix of organized and unorganized players, catering to both domestic and export markets. The industry is characterized by cyclicality, technological advancements, and stringent quality demands from OEMs.
Given its name, Automobile Corporation of Goa Ltd. suggests a significant operational base or origin in Goa, India. Without specific market share or product details, it's challenging to precisely define its positioning against peers. It likely competes with other component manufacturers offering similar products, differentiating potentially on quality, cost efficiency, technological capability, or established relationships with specific OEMs.
MOAT
Without specific company details, it's difficult to ascertain durable competitive advantages for Automobile Corporation of Goa Ltd. However, potential moats for an auto ancillary company could include:
High Switching Costs: If the company supplies mission-critical or highly customized components, and is deeply integrated into an OEM's supply chain, it can create high switching costs for the OEM.
Proprietary Technology/Expertise: Specialized manufacturing processes, patented designs, or unique material science capabilities.
Scale and Cost Leadership: Efficient production at scale leading to cost advantages that are difficult for smaller competitors to match.
Brand Reputation & Quality Certifications: A track record of reliability and adherence to global quality standards (e.g., ISO/TS certifications) can build trust with OEMs.
Geographic Proximity: Being strategically located near major automotive manufacturing hubs can reduce logistics costs and improve supply chain efficiency.
Growth Drivers
Key factors that could drive growth for Automobile Corporation of Goa Ltd. over the next 3-5 years include:
Growth in Indian Automotive Market: Overall expansion in passenger vehicle, commercial vehicle, and two-wheeler production and sales in India, driven by rising disposable incomes, urbanization, and infrastructure development.
Government Initiatives: Schemes like the Production Linked Incentive (PLI) scheme for the automotive sector and advanced chemistry cell (ACC) battery manufacturing, which aim to boost domestic manufacturing and exports.
Increased Vehicle Content: Growing complexity and premiumization in vehicles, requiring more and higher-value components per vehicle.
Exports: Expanding into international markets, leveraging cost competitiveness and quality to supply global OEMs.
Electric Vehicle (EV) Transition: Adaptation and investment in manufacturing components for electric vehicles, which will create new opportunities alongside phasing out of certain traditional ICE components.
Risks
Automotive Industry Cyclicality: The auto ancillary sector is highly susceptible to the boom and bust cycles of the broader automotive industry, impacting demand and profitability.
Raw Material Price Volatility: Fluctuations in commodity prices (steel, aluminum, plastics, etc.) can significantly impact production costs and margins if not effectively hedged or passed on to customers.
OEM Concentration Risk: Reliance on a few major OEM clients can expose the company to significant risk if one of those clients faces production issues, changes suppliers, or reduces orders.
Technological Disruption: The shift to EVs and autonomous driving presents both opportunities and risks, requiring significant R&D and capital expenditure to adapt to new component needs and potentially rendering traditional component manufacturing obsolete.
Intense Competition: The auto ancillary market in India is competitive, with both domestic and international players vying for OEM contracts, leading to pricing pressures.
Regulatory Changes: Changes in emission norms, safety standards, or import/export policies can impact product specifications, costs, and market access.
Management & Ownership
Specific details regarding the promoters, management team quality, and ownership structure for Automobile Corporation of Goa Ltd. are not provided in the input. In Indian companies, promoter groups often hold significant stakes and play a crucial role in strategic direction. For an auto ancillary company, the management's ability to navigate industry cycles, invest in R&D for new technologies, manage supply chains efficiently, and maintain strong OEM relationships is paramount.
Outlook
The outlook for Automobile Corporation of Goa Ltd., like much of the Indian auto ancillary sector, presents a mixed picture. The long-term growth trajectory of the Indian automotive market, coupled with government support for domestic manufacturing and potential for increased exports, provides a favorable environment for growth. Companies that can adapt to technological shifts, particularly the transition to electric vehicles, and maintain strong OEM relationships are well-positioned. However, the inherent cyclicality of the automotive industry, intense competition, raw material price volatility, and the significant capital expenditure required to keep pace with technological advancements (e.g., EV components) pose considerable challenges. Success will depend on the company's ability to innovate, manage costs effectively, and diversify its product portfolio and customer base.
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| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 140 | 169 | 203 | 130 | 111 | 217 | 256 | 206 | 200 | 271 |
| Other Income | 3 | 5 | 4 | 4 | 3 | 4 | 4 | 4 | 3 | 6 |
| Total Income | 143 | 174 | 207 | 134 | 114 | 221 | 261 | 210 | 204 | 276 |
| Total Expenditure | 129 | 158 | 182 | 123 | 107 | 197 | 229 | 189 | 184 | 246 |
| Operating Profit | 14 | 16 | 25 | 11 | 7 | 24 | 32 | 21 | 19 | 31 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3 | 0 |
| Profit Before Tax | 13 | 14 | 24 | 10 | 6 | 23 | 31 | 20 | 15 | 29 |
| Provision for Tax | 3 | 3 | 6 | 2 | 2 | 6 | 8 | 5 | 4 | 8 |
| Profit After Tax | 10 | 11 | 18 | 7 | 5 | 17 | 23 | 15 | 11 | 21 |
| Adjustments | 0 | 0 | 0 | -0 | 0 | -0 | 0 | 0 | -0 | -0 |
| Profit After Adjustments | 10 | 11 | 18 | 7 | 5 | 17 | 23 | 15 | 11 | 21 |
| Adjusted Earnings Per Share | 16.1 | 17.9 | 29.4 | 12.1 | 7.4 | 27.7 | 37.9 | 24 | 17.8 | 35 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 395 | 417 | 467 | 489 | 426 | 333 | 116 | 282 | 506 | 584 | 661 | 933 |
| Other Income | 7 | 7 | 8 | 8 | 10 | 10 | 10 | 7 | 8 | 13 | 15 | 17 |
| Total Income | 402 | 424 | 475 | 498 | 436 | 344 | 126 | 289 | 514 | 598 | 676 | 951 |
| Total Expenditure | 377 | 393 | 437 | 461 | 395 | 323 | 137 | 275 | 475 | 542 | 608 | 848 |
| Operating Profit | 25 | 31 | 38 | 37 | 41 | 20 | -11 | 14 | 39 | 56 | 67 | 103 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 5 | 6 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 1 | -4 | -1 | -0 | -6 | 3 | 0 | 0 | -3 |
| Profit Before Tax | 24 | 25 | 32 | 33 | 32 | 13 | -16 | 3 | 37 | 51 | 63 | 95 |
| Provision for Tax | 8 | 9 | 11 | 13 | 11 | 3 | -4 | -0 | 9 | 13 | 16 | 25 |
| Profit After Tax | 15 | 17 | 21 | 20 | 21 | 10 | -13 | 3 | 28 | 38 | 47 | 70 |
| Adjustments | 0 | 0 | 0 | 1 | -1 | -0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 15 | 17 | 21 | 21 | 20 | 10 | -13 | 3 | 28 | 38 | 47 | 70 |
| Adjusted Earnings Per Share | 23.8 | 25.7 | 32.6 | 31.4 | 32.5 | 16.4 | -20.5 | 5.7 | 45.7 | 63 | 76.5 | 114.7 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 13% | 33% | 15% | 5% |
| Operating Profit CAGR | 20% | 69% | 27% | 10% |
| PAT CAGR | 24% | 150% | 36% | 12% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 20% | 35% | 41% | 17% |
| ROE Average | 20% | 18% | 10% | 9% |
| ROCE Average | 20% | 18% | 9% | 12% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 175 | 189 | 197 | 204 | 210 | 182 | 167 | 169 | 194 | 219 | 254 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 36 | 36 | 13 | 12 | 12 | 9 | 3 | 5 | 10 | 13 | 14 |
| Total Current Liabilities | 128 | 110 | 89 | 95 | 78 | 69 | 61 | 109 | 132 | 141 | 197 |
| Total Liabilities | 338 | 335 | 299 | 311 | 300 | 260 | 231 | 283 | 336 | 373 | 465 |
| Fixed Assets | 69 | 67 | 63 | 59 | 56 | 60 | 55 | 50 | 49 | 51 | 62 |
| Other Non-Current Assets | 42 | 56 | 14 | 12 | 12 | 5 | 4 | 6 | 14 | 10 | 6 |
| Total Current Assets | 227 | 212 | 222 | 239 | 232 | 195 | 172 | 226 | 273 | 312 | 397 |
| Total Assets | 338 | 335 | 299 | 311 | 300 | 260 | 231 | 283 | 336 | 373 | 465 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 2 | 10 | 0 | 6 | 1 | 29 |
| Cash Flow from Operating Activities | 1 | 31 | 19 | 40 | -5 | 21 | -20 | -29 | -4 | 61 | 10 |
| Cash Flow from Investing Activities | 9 | -19 | -5 | -29 | 26 | 25 | -3 | 9 | -29 | -11 | -14 |
| Cash Flow from Financing Activities | -10 | -12 | -14 | -10 | -20 | -39 | 14 | 25 | 28 | -22 | 11 |
| Net Cash Inflow / Outflow | -0 | 0 | 0 | 0 | 2 | 8 | -10 | 6 | -5 | 28 | 7 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 2 | 10 | 0 | 6 | 1 | 29 | 36 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 23.76 | 25.74 | 32.64 | 31.39 | 32.49 | 16.35 | -20.54 | 5.65 | 45.73 | 63.02 | 76.54 |
| CEPS(Rs) | 25.78 | 34.11 | 41.39 | 39.67 | 40.72 | 24.94 | -12.17 | 13.82 | 53.41 | 71.16 | 84.1 |
| DPS(Rs) | 15 | 15 | 17.5 | 17.5 | 17.5 | 10 | 0 | 0 | 17.5 | 20 | 25 |
| Book NAV/Share(Rs) | 271.85 | 294.58 | 306.16 | 317.3 | 327.56 | 298.23 | 273.89 | 277.45 | 318.14 | 359.6 | 416.75 |
| Core EBITDA Margin(%) | 4.44 | 5.58 | 6.09 | 5.76 | 7.35 | 2.91 | -18.59 | 2.51 | 6.12 | 7.32 | 7.92 |
| EBIT Margin(%) | 5.85 | 5.92 | 6.52 | 6.63 | 7.48 | 4.06 | -13.99 | 1.22 | 7.35 | 8.75 | 9.47 |
| Pre Tax Margin(%) | 5.77 | 5.83 | 6.47 | 6.56 | 7.45 | 4 | -14.09 | 1.19 | 7.33 | 8.74 | 9.46 |
| PAT Margin (%) | 3.73 | 3.79 | 4.19 | 4.03 | 4.9 | 2.99 | -10.81 | 1.22 | 5.5 | 6.57 | 7.05 |
| Cash Profit Margin (%) | 4.05 | 5.02 | 5.31 | 5.1 | 6.14 | 4.56 | -6.41 | 2.99 | 6.42 | 7.41 | 7.75 |
| ROA(%) | 4.86 | 4.91 | 6.61 | 6.61 | 6.84 | 3.56 | -5.1 | 1.34 | 9 | 10.82 | 11.12 |
| ROE(%) | 8.83 | 9.09 | 10.87 | 10.07 | 10.08 | 5.08 | -7.18 | 2.05 | 15.36 | 18.6 | 19.72 |
| ROCE(%) | 13.62 | 13.96 | 16.7 | 16.23 | 15.18 | 6.9 | -8.87 | 1.74 | 15.61 | 18.72 | 20.2 |
| Receivable days | 41.82 | 41.78 | 36.8 | 41.27 | 53.94 | 64.19 | 115.69 | 62.16 | 55.24 | 49.25 | 57.48 |
| Inventory Days | 24.96 | 27.03 | 32 | 37.07 | 40.58 | 47.46 | 124.6 | 51.34 | 32.57 | 31.14 | 29.07 |
| Payable days | 71.25 | 82.72 | 81.07 | 81.86 | 88.54 | 96.79 | 215.94 | 81.28 | 54.12 | 51.98 | 62.81 |
| PER(x) | 18.59 | 16.38 | 19.43 | 35.54 | 17.23 | 17.96 | 0 | 165.25 | 15.7 | 34.33 | 16.59 |
| Price/Book(x) | 1.62 | 1.43 | 2.07 | 3.52 | 1.71 | 0.98 | 1.49 | 3.37 | 2.26 | 6.02 | 3.05 |
| Dividend Yield(%) | 3.4 | 3.56 | 2.76 | 1.57 | 3.13 | 3.4 | 0 | 0 | 2.44 | 0.92 | 1.97 |
| EV/Net Sales(x) | 0.72 | 0.65 | 0.87 | 1.47 | 0.84 | 0.5 | 2.27 | 2.14 | 0.95 | 2.29 | 1.19 |
| EV/Core EBITDA(x) | 11.31 | 8.71 | 10.65 | 19.46 | 8.61 | 8.32 | -23.75 | 42.06 | 12.31 | 23.85 | 11.71 |
| Net Sales Growth(%) | 30.37 | 5.55 | 12.11 | 4.71 | -12.92 | -21.82 | -65.27 | 143.55 | 79.65 | 15.43 | 13.08 |
| EBIT Growth(%) | -10.62 | 7.89 | 26.44 | 1.53 | -3.87 | -57.61 | -219.79 | 121.24 | 981.9 | 37.49 | 22.37 |
| PAT Growth(%) | -12.71 | 8.34 | 26.8 | -3.84 | 3.52 | -52.28 | -225.63 | 127.51 | 709.15 | 37.79 | 21.46 |
| EPS Growth(%) | -12.71 | 8.34 | 26.8 | -3.84 | 3.52 | -49.67 | -225.62 | 127.51 | 709.15 | 37.79 | 21.46 |
| Debt/Equity(x) | 0.02 | 0.02 | 0.01 | 0.03 | 0 | 0 | 0.1 | 0.25 | 0.37 | 0.28 | 0.34 |
| Current Ratio(x) | 1.77 | 1.93 | 2.49 | 2.53 | 2.99 | 2.84 | 2.8 | 2.07 | 2.06 | 2.21 | 2.01 |
| Quick Ratio(x) | 1.53 | 1.62 | 1.88 | 2.02 | 2.39 | 2.27 | 2.16 | 1.71 | 1.68 | 1.86 | 1.73 |
| Interest Cover(x) | 72.22 | 67.23 | 130.83 | 86.05 | 221.2 | 72.92 | -144.91 | 36.54 | 450.39 | 602.48 | 694.69 |
| Total Debt/Mcap(x) | 0.01 | 0.01 | 0.01 | 0.01 | 0 | 0 | 0.07 | 0.07 | 0.16 | 0.05 | 0.11 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 49.77 | 49.77 | 49.77 | 49.77 | 49.77 | 49.77 | 49.77 | 49.77 | 49.77 | 48.98 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 50.21 | 50.21 | 50.21 | 50.21 | 50.21 | 50.21 | 50.21 | 50.21 | 50.21 | 51.01 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +13% | +33% | +15% | +5% |
| Operating Profit CAGR | +20% | +69% | +27% | +10% |
| PAT CAGR | +24% | +150% | +36% | +12% |
| Share Price CAGR | +20% | +35% | +41% | +17% |
| ROE Average | +20% | +18% | +10% | +9% |
| ROCE Average | +20% | +18% | +9% | +12% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 49.77 | 49.77 | 49.77 | 49.77 | 49.77 | 49.77 | 49.77 | 49.77 | 49.77 | 48.98 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 50.23 | 50.23 | 50.23 | 50.23 | 50.23 | 50.23 | 50.23 | 50.23 | 50.23 | 51.02 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 |
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