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Goodyear India

₹1136.2 -15.7 | 1.4%

Market Cap ₹2621 Cr.

Stock P/E 19.8

P/B 4.1

Current Price ₹1136.2

Book Value ₹ 278.2

Face Value 10

52W High ₹1451.1

Dividend Yield 2.33%

52W Low ₹ 1100

Edit Ratio

Goodyear India Research see more...

Overview Inc. Year: 1961Industry: Tyres & Allied

Goodyear India Ltd is engaged inside the manufacturing and trading of tires, tubes and flaps. It supplies tires to a number of original equipment manufacturers (OEMs). The Company manufactures automotive bias tires, which includes farm tires and commercial truck tires at its Ballabgarh plant. The Company additionally trades in Goodyear branded tires, including radial passenger tires (consumer) and off the road (OTR) bias tires, manufactured by Goodyear South Asia Tires Pvt Ltd (GSATPL), Aurangabad. The different products, which the Company markets and sells, include radial OTR imported tires. The Company offers products below the brands, inclusive of Assurance TripleMax, Assurance Duraplus and Wrangler AT/SA. The Company additionally offers tubeless radial tires. It gives Goodyear tires to the tractor companies. The Company also gives Goodyear Eagle EfficientGrip, Goodyear Eagle F1 Directional 5 and Goodyear Excellence, amongst others.

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Goodyear India Share Price

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Peer Comparison

Goodyear India Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 698 605 598 819 767 689 653 720 690 591
Other Income 6 7 5 4 5 4 4 4 4 5
Total Income 705 612 603 823 772 693 656 723 695 597
Total Expenditure 638 571 565 759 721 645 596 656 629 552
Operating Profit 66 40 38 64 51 48 61 68 66 45
Interest 1 1 1 1 1 1 1 1 1 1
Depreciation 13 13 13 13 13 14 14 14 14 14
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 53 27 23 50 36 33 46 53 51 30
Provision for Tax 13 7 6 13 9 9 12 13 13 8
Profit After Tax 39 19 17 38 27 24 34 39 38 22
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 39 19 17 38 27 24 34 39 38 22
Adjusted Earnings Per Share 17 8.4 7.5 16.4 11.7 10.6 14.6 17 16.4 9.5

Goodyear India Profit & Loss

#(Fig in Cr.) Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 1481 1569 1583 1730 1512 1665 1912 1746 1792 2436 2928 2654
Other Income 23 32 30 38 33 37 38 35 23 23 16 17
Total Income 1504 1600 1613 1768 1545 1702 1950 1781 1814 2459 2944 2671
Total Expenditure 1392 1431 1427 1534 1312 1463 1748 1610 1575 2264 2721 2433
Operating Profit 113 169 185 234 233 238 202 171 239 195 223 240
Interest 4 2 3 3 3 3 3 4 3 4 4 4
Depreciation 24 25 29 47 34 36 41 50 53 53 54 56
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 85 142 154 184 196 199 158 117 183 138 165 180
Provision for Tax 28 48 52 65 68 69 56 28 47 36 43 46
Profit After Tax 56 94 101 120 127 130 102 89 136 103 123 133
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 56 94 101 120 127 130 102 89 136 103 123 133
Adjusted Earnings Per Share 24.4 40.8 43.9 51.9 55.2 56.3 44.2 38.5 59.1 44.6 53.3 57.5

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 20% 19% 12% 7%
Operating Profit CAGR 14% 9% -1% 7%
PAT CAGR 19% 11% -1% 8%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -6% 8% 4% 11%
ROE Average 19% 16% 14% 17%
ROCE Average 26% 22% 20% 26%

Goodyear India Balance Sheet

#(Fig in Cr.) Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 354 424 497 614 707 802 867 916 840 715 606
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 158 35 262 324 393 461 519 39 607 644 684
Total Current Liabilities 531 574 359 280 353 465 435 352 514 612 620
Total Liabilities 1043 1033 1118 1218 1454 1729 1821 1307 1960 1971 1909
Fixed Assets 198 210 240 221 227 246 251 316 312 317 357
Other Non-Current Assets 164 49 262 346 422 493 574 50 627 690 758
Total Current Assets 682 773 616 651 805 990 995 941 1021 964 794
Total Assets 1043 1033 1118 1218 1454 1729 1821 1307 1960 1971 1909

Goodyear India Cash Flow

#(Fig in Cr.) Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 228 53 43 231 76 196 319 301 225 383 186
Cash Flow from Operating Activities 26 131 99 9 168 182 57 65 294 89 112
Cash Flow from Investing Activities -178 -121 116 -133 -12 -22 -36 -96 87 -50 91
Cash Flow from Financing Activities -22 -21 -27 -31 -37 -37 -39 -45 -223 -236 -241
Net Cash Inflow / Outflow -174 -11 188 -155 120 123 -18 -76 158 -197 -38
Closing Cash & Cash Equivalent 53 43 231 76 196 319 301 225 383 186 148

Goodyear India Ratios

# Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 24.41 40.78 43.88 51.91 55.21 56.33 44.24 38.51 59.06 44.6 53.26
CEPS(Rs) 34.85 51.69 56.24 72.07 69.84 72 62.03 60.23 81.93 67.43 76.66
DPS(Rs) 7 9 10 12 12.5 13 13 13 178 100 26.5
Book NAV/Share(Rs) 152.15 182.34 214.18 265.02 305.31 346.54 374.69 395.76 362.74 308.67 261.42
Core EBITDA Margin(%) 5.55 8.07 9.1 10.54 12.28 11.8 8.59 7.78 12.09 7.06 7.07
EBIT Margin(%) 5.48 8.45 9.16 10.08 12.23 11.85 8.43 6.92 10.41 5.85 5.78
Pre Tax Margin(%) 5.25 8.32 8.96 9.91 12.02 11.68 8.27 6.69 10.22 5.68 5.65
PAT Margin (%) 3.49 5.51 5.91 6.44 7.83 7.62 5.34 5.09 7.61 4.22 4.2
Cash Profit Margin (%) 4.98 6.99 7.58 8.94 9.9 9.74 7.48 7.96 10.55 6.39 6.04
ROA(%) 6.12 9.06 9.42 10.25 9.54 8.17 5.75 5.68 8.34 5.24 6.33
ROE(%) 16.95 24.38 22.13 21.67 19.36 17.28 12.27 10 15.57 13.29 18.68
ROCE(%) 26.62 37.34 34.31 33.92 30.24 26.89 19.37 13.59 21.33 18.41 25.74
Receivable days 32.26 34.2 29.56 26.64 35.51 39.1 43.12 48.45 50.01 39.06 35.67
Inventory Days 21.46 21.75 23.7 24.63 33.26 36.08 32.02 33.15 28.83 32.54 36.61
Payable days 84.51 89.24 89.05 72.85 89.01 108.69 99.42 93.12 104.06 93.1 80.26
PER(x) 14.96 9.08 14.29 9.26 15.31 19.74 21.35 15.7 15.09 19.9 20.05
Price/Book(x) 2.4 2.03 2.93 1.81 2.77 3.21 2.52 1.53 2.46 2.88 4.09
Dividend Yield(%) 1.92 2.43 1.59 2.5 1.48 1.17 1.38 2.15 19.97 11.27 2.48
EV/Net Sales(x) 0.41 0.34 0.68 0.45 0.99 1.19 0.85 0.49 0.81 0.68 0.79
EV/Core EBITDA(x) 5.37 3.17 5.84 3.31 6.43 8.34 8.02 4.96 6.1 8.49 10.31
Net Sales Growth(%) -2.12 5.9 0.9 9.32 -12.63 10.11 14.85 -8.7 2.64 35.94 20.19
EBIT Growth(%) -12.81 62.89 8.91 19.49 6.11 1.61 -20.29 -25.03 54.45 -23.59 18.71
PAT Growth(%) -12.82 67.03 7.62 18.29 6.35 2.03 -21.46 -12.96 53.38 -24.49 19.41
EPS Growth(%) -12.82 67.03 7.62 18.29 6.35 2.03 -21.46 -12.96 53.38 -24.49 19.41
Debt/Equity(x) 0 0 0 0 0 0 0 0 0 0 0
Current Ratio(x) 1.28 1.35 1.71 2.33 2.28 2.13 2.29 2.67 1.99 1.57 1.28
Quick Ratio(x) 1.09 1.18 1.37 1.87 1.8 1.77 1.9 2.25 1.73 1.08 0.82
Interest Cover(x) 23.15 66.7 46.02 57.87 59.22 69.96 53.71 30.43 54.56 34.6 43.73
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0 0

Goodyear India Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 74 74 74 74 74 74 74 74 74 74
FII 0.79 0.83 0.92 1.07 1.07 1.03 0.93 0.74 0.73 0.75
DII 7.04 7.02 6.85 7.2 7.24 7.33 7.63 8.06 8.07 8.05
Public 18.18 18.15 18.23 17.73 17.7 17.65 17.44 17.2 17.2 17.2
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 93.1 to 80.26days.
  • Company is almost debt free.

Cons

  • Stock is trading at 4.1 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.

Goodyear India News

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