JTEKT India

₹167.9 4 | 2.4%

WEBSITE BSE:520057 NSE : JTEKTINDIA 10 May, 16:01

Market Cap ₹4269 Cr.

Stock P/E 44.2

P/B 5.8

Current Price ₹167.9

Book Value ₹ 28.9

Face Value 1

52W High ₹185

Dividend Yield 0.3%

52W Low ₹ 116.1

Edit Ratio

JTEKT India Research see more...

Overview Inc. Year: 1984Industry: Auto Ancillary

JTEKT India Ltd is an primarily India-based corporation that is normally engaged within the enterprise of producing and assembling of automobile additives. The Company is a manufacturer of rack and pinion steering systems, hydraulic power steering (HPS) structures and drive line products. It additionally manufactures column-type electric powered steering (CEPS) and manual steerage gear (MS). The Company’s products are there in various fields, such as wind power generation, railway, aeronautics, metal and semiconductor manufacturing facilities. It also has product lines for system equipment, sensors and high heat-resistant lithium-ion capacitors. The Company additionally exports its merchandise to America, Europe and Japan.

JTEKT India Share Price

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Peer Comparison

JTEKT India Quarterly Results

#(Fig in Cr.)	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Net Sales	321	385	413	470	472	571	471	530	478	584
Other Income	2	3	2	2	3	2	2	2	4	2
Total Income	323	389	415	472	474	573	473	532	481	586
Total Expenditure	303	355	376	428	432	513	433	480	443	524
Operating Profit	20	34	39	44	43	60	40	52	38	62
Interest	1	1	1	1	1	1	1	1	1	1
Depreciation	19	18	17	17	17	18	19	19	19	20
Exceptional Income / Expenses	-2	0	0	-5	-3	0	0	0	7	0
Profit Before Tax	-1	14	21	21	21	41	20	32	25	42
Provision for Tax	-0	4	6	6	6	11	5	6	6	11
Profit After Tax	-1	11	16	15	16	30	15	26	19	30
Adjustments	-0	-1	-1	-1	-1	-2	-1	-1	-2	-3
Profit After Adjustments	-1	10	14	14	14	28	14	25	17	27
Adjusted Earnings Per Share	-0	0.4	0.6	0.6	0.6	1.1	0.6	1	0.7	1.1

JTEKT India Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	1460	1492	1553	1518	1211	1519	1754	1511	1333	1589	2044	2063
Other Income	9	40	5	16	6	7	12	9	5	10	9	10
Total Income	1469	1532	1558	1534	1218	1526	1766	1519	1338	1599	2052	2072
Total Expenditure	1295	1314	1337	1324	1066	1306	1532	1374	1230	1461	1857	1880
Operating Profit	174	218	221	210	152	220	233	146	108	138	195	192
Interest	41	39	31	32	25	21	16	10	5	4	5	4
Depreciation	58	68	104	99	79	96	96	93	83	71	73	77
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	-7	-3	7
Profit Before Tax	74	111	86	79	48	102	122	43	21	56	114	119
Provision for Tax	26	25	27	25	15	36	44	8	7	15	27	28
Profit After Tax	48	86	59	54	32	66	78	35	14	41	87	90
Adjustments	-10	-19	-21	-17	5	-3	-6	-5	-2	-4	-6	-7
Profit After Adjustments	38	68	38	37	37	64	73	30	12	37	81	83
Adjusted Earnings Per Share	1.9	3.4	1.9	1.9	1.9	3.2	3	1.2	0.5	1.5	3.3	3.4

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	29%	11%	6%	3%
Operating Profit CAGR	41%	10%	-2%	1%
PAT CAGR	112%	35%	6%	6%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	38%	24%	13%	22%
ROE Average	13%	7%	8%	14%
ROCE Average	16%	10%	11%	15%

JTEKT India Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	262	309	323	347	383	544	593	596	599	632	703
Minority's Interest	61	79	99	112	16	21	24	26	26	29	31
Borrowings	240	170	167	156	120	99	47	16	17	34	31
Other Non-Current Liabilities	75	78	124	41	82	100	145	116	112	34	46
Total Current Liabilities	474	448	377	453	336	432	466	237	285	308	321
Total Liabilities	1113	1084	1090	1109	938	1195	1275	991	1039	1038	1131
Fixed Assets	609	602	584	600	477	549	533	487	425	392	475
Other Non-Current Assets	94	107	147	55	187	114	145	117	127	142	86
Total Current Assets	410	376	358	455	275	532	598	387	487	504	570
Total Assets	1113	1084	1090	1109	938	1195	1275	991	1039	1038	1131

JTEKT India Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	11	2	2	16	5	3	7	122	61	68	64
Cash Flow from Operating Activities	99	163	199	131	162	178	184	125	91	108	95
Cash Flow from Investing Activities	-96	-42	-81	-79	-64	-122	16	-34	-40	-126	-84
Cash Flow from Financing Activities	-13	-122	-102	-35	-100	-55	-85	-153	-44	14	-28
Net Cash Inflow / Outflow	-10	-0	15	18	-2	1	115	-61	7	-4	-17
Closing Cash & Cash Equivalent	2	2	16	34	3	7	122	61	68	64	47

JTEKT India Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	1.92	3.41	1.91	1.86	1.86	3.21	2.98	1.24	0.48	1.51	3.33
CEPS(Rs)	5.36	7.76	8.19	7.69	5.6	8.18	7.13	5.23	3.95	4.58	6.56
DPS(Rs)	0.65	0.8	0.65	0.5	0.5	0.5	0.8	0.35	0.15	0.4	0.5
Book NAV/Share(Rs)	13.19	15.54	16.27	17.48	19.27	27.39	24.25	24.36	24.48	25.84	28.75
Core EBITDA Margin(%)	10.01	10.65	12.31	11.32	10.54	13.64	12.64	9.06	7.71	8.01	9.14
EBIT Margin(%)	7.02	8.96	6.67	6.49	5.29	7.94	7.83	3.5	1.89	3.77	5.82
Pre Tax Margin(%)	4.52	6.62	4.89	4.64	3.46	6.56	6.94	2.84	1.54	3.54	5.59
PAT Margin (%)	2.92	5.15	3.37	3.16	2.35	4.26	4.46	2.33	1.03	2.59	4.26
Cash Profit Margin (%)	6.47	9.2	9.28	8.93	8.05	10.41	9.93	8.47	7.25	7.05	7.84
ROA(%)	4.53	7.86	5.43	4.93	3.17	6.23	6.34	3.1	1.35	3.96	8.03
ROE(%)	19.13	30.22	18.66	16.15	8.88	14.33	13.76	5.91	2.29	6.68	13.06
ROCE(%)	18.19	22.73	18.46	17.51	11.36	17.58	17.63	7.29	3.84	8.93	16.3
Receivable days	44.69	47.43	41.39	43.09	48.89	48.27	54.76	55.87	61.67	57.2	46.63
Inventory Days	15.77	19.05	20.21	21.26	24.17	21.6	22.15	27.37	33.54	31.63	29.69
Payable days	70.67	69.11	68.45	70.64	83.71	65.19	61.46	63.17	69.17	66.23	52.75
PER(x)	5.13	6.23	26.43	24.95	43.91	30.7	36.89	32.44	175.56	49.16	31.04
Price/Book(x)	0.75	1.37	3.1	2.66	4.24	3.6	4.53	1.65	3.44	2.87	3.59
Dividend Yield(%)	6.61	3.76	1.29	1.08	0.61	0.51	0.73	0.87	0.18	0.54	0.48
EV/Net Sales(x)	0.41	0.51	0.82	0.79	1.54	1.39	1.57	0.66	1.52	1.13	1.24
EV/Core EBITDA(x)	3.47	3.49	5.78	5.69	12.31	9.58	11.78	6.82	18.75	13.09	12.93
Net Sales Growth(%)	2.73	2.21	4.06	-2.23	-20.21	25.41	15.45	-13.88	-11.76	19.19	28.65
EBIT Growth(%)	-12.58	30.22	-22.24	-4.85	-34.26	69.43	10.91	-61.48	-52.3	137.45	98.49
PAT Growth(%)	-20.34	79.92	-31.64	-8.21	-40.13	104.98	17.77	-55.12	-61.02	200.38	111.87
EPS Growth(%)	-21.81	77.9	-44.07	-2.25	-0.19	72.44	-7.26	-58.4	-61.25	214.74	120.49
Debt/Equity(x)	1.56	1.11	0.9	0.88	0.65	0.43	0.32	0.12	0.07	0.11	0.08
Current Ratio(x)	0.86	0.84	0.95	1	0.82	1.23	1.28	1.64	1.71	1.64	1.78
Quick Ratio(x)	0.69	0.63	0.69	0.78	0.57	1	1.04	1.15	1.25	1.17	1.19
Interest Cover(x)	2.81	3.83	3.75	3.5	2.9	5.77	8.83	5.32	5.34	16.07	25.1
Total Debt/Mcap(x)	2.1	0.81	0.29	0.33	0.15	0.12	0.07	0.08	0.02	0.04	0.02

JTEKT India Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	75	75	73.98	73.98	73.98	73.98	73.98	73.98	73.98	74.98
FII	4.58	4.59	4.58	3.99	3.95	3.84	0.32	0.41	0.52	0.48
DII	3.55	3.24	4.52	4.48	4.45	4.55	7.67	8.5	9.24	8.92
Public	16.87	17.17	16.92	17.55	17.63	17.63	18.03	17.12	16.26	15.62
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	18.34	18.34	18.09	18.09	18.09	18.09	18.09	18.09	18.09	19.07
FII	1.12	1.12	1.12	0.97	0.96	0.94	0.08	0.1	0.13	0.12
DII	0.87	0.79	1.11	1.1	1.09	1.11	1.88	2.08	2.26	2.27
Public	4.12	4.2	4.14	4.29	4.31	4.31	4.41	4.19	3.98	3.97
Others	0	0	0	0	0	0	0	0	0	0
Total	24.45	24.45	24.45	24.45	24.45	24.45	24.45	24.45	24.45	25.43

Pros

Debtor days have improved from 66.23 to 52.75days.
Company has reduced debt.
Company is almost debt free.

Cons

Company has a low return on equity of 7% over the last 3 years.
Stock is trading at 5.8 times its book value.
The company has delivered a poor profit growth of 5% 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.