Enkei Wheels

₹671 -8.7 | 1.3%

WEBSITE BSE:533477 NSE : ENKEI WHEEL 18 May, 12:50

Market Cap ₹1206 Cr.

Stock P/E 48.3

P/B 5

Current Price ₹671

Book Value ₹ 134.7

Face Value 5

52W High ₹760

Dividend Yield 0%

52W Low ₹ 441

Edit Ratio

Enkei Wheels Research see more...

Overview Inc. Year: 2009Industry: Auto Ancillary

Enkei Wheels (India) Ltd manufactures and sells aluminium alloy casting wheels for use in the automobile sector in India. The enterprise gives aluminium alloy wheels for two wheelers and 4 wheelers. It also exports its merchandise. The agency became included in 2009 and is primarily based in Pune, India.

Enkei Wheels Share Price

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Peer Comparison

Enkei Wheels Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	151	171	159	185	149	132	177	207	200	222
Other Income	2	4	9	3	0	2	9	2	0	7
Total Income	152	174	168	188	149	134	186	209	200	228
Total Expenditure	137	156	163	162	153	130	163	185	184	199
Operating Profit	15	19	5	25	-5	5	23	24	16	29
Interest	1	1	2	2	2	2	3	3	3	3
Depreciation	4	6	6	8	8	9	8	12	12	12
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	10	13	-3	15	-15	-7	12	9	1	14
Provision for Tax	3	4	1	1	-0	-2	4	3	-1	5
Profit After Tax	7	9	-5	13	-14	-4	8	6	2	9
Adjustments	-0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	7	9	-5	13	-14	-4	8	6	2	9
Adjusted Earnings Per Share	4.1	5	-2.5	7.5	-7.9	-2.4	4.5	3.3	1.2	4.9

Enkei Wheels Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	TTM
Net Sales	320	384	385	407	465	474	267	235	451	663	716	806
Other Income	1	0	0	0	1	1	0	1	5	8	8	18
Total Income	321	384	386	407	466	476	267	237	456	672	724	823
Total Expenditure	305	346	346	373	423	450	271	235	413	618	655	731
Operating Profit	16	38	40	34	42	26	-4	2	43	54	69	92
Interest	9	8	5	5	5	5	5	13	6	16	11	12
Depreciation	18	28	26	22	23	21	18	22	19	28	42	44
Exceptional Income / Expenses	11	0	-12	0	5	13	32	0	0	0	0	0
Profit Before Tax	1	2	-3	7	19	14	5	-33	17	10	16	36
Provision for Tax	0	-0	3	5	9	1	2	-1	1	6	4	11
Profit After Tax	1	2	-5	3	11	13	3	-31	16	4	12	25
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	1	2	-5	3	11	13	3	-31	16	4	12	25
Adjusted Earnings Per Share	0.4	1.7	-3.9	1.8	7	7.8	1.6	-17.4	9.1	2.1	6.5	13.9

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	8%	45%	9%	8%
Operating Profit CAGR	28%	226%	22%	16%
PAT CAGR	200%	0%	-2%	28%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	46%	29%	12%	31%
ROE Average	5%	5%	0%	2%
ROCE Average	7%	7%	4%	7%

Enkei Wheels Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023
Shareholder's Funds	16	18	2	43	81	129	183	191	208	221	233
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	86	63	63	61	52	52	100	129	111	105	113
Other Non-Current Liabilities	126	107	96	70	57	49	26	25	25	23	29
Total Current Liabilities	90	96	78	59	82	95	110	105	142	144	158
Total Liabilities	318	283	239	234	272	326	420	450	486	494	534
Fixed Assets	181	164	131	129	127	126	140	122	110	231	344
Other Non-Current Assets	29	21	7	5	26	80	141	205	230	116	24
Total Current Assets	108	98	101	100	119	120	139	123	146	147	166
Total Assets	318	283	239	234	272	326	420	450	486	494	534

Enkei Wheels Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023
Opening Cash & Cash Equivalents	49	27	8	8	7	10	20	41	30	33	7
Cash Flow from Operating Activities	18	26	13	17	25	39	6	16	28	49	59
Cash Flow from Investing Activities	-14	-11	-6	-20	-44	-71	-89	-64	-37	-42	-56
Cash Flow from Financing Activities	-25	-34	-8	3	20	42	104	37	12	-33	2
Net Cash Inflow / Outflow	-22	-18	-1	-0	2	11	21	-11	3	-26	4
Closing Cash & Cash Equivalent	27	8	8	7	9	20	41	30	33	7	11

Enkei Wheels Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023
Earnings Per Share (Rs)	0.42	1.7	-3.87	1.76	6.99	7.85	1.6	-17.45	9.06	2.06	6.51
CEPS(Rs)	14.41	22.69	14.28	16.36	22.11	21	12	-5.34	19.71	17.86	29.62
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	9.94	13.64	1.65	29.11	52.31	79.57	107.29	106.09	115.51	123.08	129.77
Core EBITDA Margin(%)	4.31	8.81	9.08	7.3	8.71	5.23	-1.48	0.12	8.26	6.88	8.49
EBIT Margin(%)	2.59	2.34	0.52	2.6	5.04	3.83	3.86	-8.54	5.21	3.87	3.82
Pre Tax Margin(%)	0.18	0.44	-0.65	1.58	4.04	2.88	1.93	-13.87	3.88	1.44	2.24
PAT Margin (%)	0.15	0.53	-1.25	0.57	2.25	2.68	1.02	-13.33	3.61	0.56	1.63
Cash Profit Margin (%)	5.11	7.06	4.61	5.31	7.12	7.18	7.68	-4.08	7.86	4.83	7.42
ROA(%)	0.16	0.76	-2.09	1.1	4.26	4.26	0.73	-7.2	3.48	0.76	2.28
ROE(%)	19.57	14.73	-53.02	11.44	17.4	12.14	1.75	-16.77	8.17	1.73	5.15
ROCE(%)	6.85	8.29	2.45	12.33	18.1	9.88	3.75	-5.7	6.18	6.66	7.01
Receivable days	54.4	47.3	50.48	51.21	51.46	44.02	44.35	38.62	40.06	35.02	36.06
Inventory Days	16.49	11.97	15.49	12.93	14.05	28.81	83.66	99.63	39.84	31.6	34.89
Payable days	119.82	99.15	109.69	77.96	53.68	54.71	95.9	98.28	48.93	45.88	61.42
PER(x)	95.04	70.35	0	110.86	53.86	51.14	189	0	37.55	280.39	89.52
Price/Book(x)	3.98	8.77	86.83	6.68	7.2	5.04	2.81	2.44	2.94	4.7	4.49
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	0.45	0.62	0.71	0.86	1.39	1.51	2.35	2.61	1.69	1.8	1.68
EV/Core EBITDA(x)	8.83	6.27	6.81	10.45	15.17	27.32	-171.47	365.73	17.87	22.06	17.42
Net Sales Growth(%)	11.52	19.97	0.41	5.51	14.26	2.1	-43.78	-11.83	91.55	47.27	7.93
EBIT Growth(%)	-22.84	8.44	-77.31	421.65	101.96	-24.57	-43.35	-294.87	216.9	9.63	6.6
PAT Growth(%)	-87.81	330.56	-339.71	147.73	312.8	18.12	-78.6	-1250.75	151.9	-77.2	215.14
EPS Growth(%)	-87.81	309.05	-327.73	145.34	298.46	12.22	-79.67	-1193.26	151.9	-77.2	215.15
Debt/Equity(x)	9.58	4.78	33.77	1.6	0.91	0.66	0.83	0.94	0.88	0.73	0.71
Current Ratio(x)	1.2	1.03	1.29	1.69	1.46	1.26	1.26	1.17	1.03	1.02	1.05
Quick Ratio(x)	1.09	0.84	1.05	1.46	1.18	0.72	0.62	0.62	0.74	0.5	0.66
Interest Cover(x)	1.08	1.23	0.44	2.54	5.03	4.02	2	-1.6	3.91	1.59	2.41
Total Debt/Mcap(x)	2.41	0.54	0.39	0.24	0.13	0.13	0.3	0.38	0.3	0.16	0.16

Enkei Wheels Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	74.97	74.97	74.97	74.97	74.97	74.97	74.97	74.97	74.97	74.97
FII	0.01	0	0	0.02	0.02	0	0.02	0.02	0.02	0.02
DII	0	0	0	0	0	0	0	0	0	0
Public	25.03	25.03	25.03	25.01	25.01	25.03	25.01	25.02	25.02	25.02
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	1.35	1.35	1.35	1.35	1.35	1.35	1.35	1.35	1.35	1.35
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.45	0.45	0.45	0.45	0.45	0.45	0.45	0.45	0.45	0.45
Others	0	0	0	0	0	0	0	0	0	0
Total	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8

Pros

Cons

Company has a low return on equity of 5% over the last 3 years.
Debtor days have increased from 45.88 to 61.42days.
Stock is trading at 5 times its book value.
The company has delivered a poor profit growth of -1% over past five years.

* 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.