LG Balakrishnan&Bros

₹1264 -5.7 | 0.4%

WEBSITE BSE:500250 NSE : L.G.BALKRISH 10 May, 16:01

Market Cap ₹3968 Cr.

Stock P/E 14.6

P/B 2.9

Current Price ₹1264

Book Value ₹ 434.9

Face Value 10

52W High ₹1409.4

Dividend Yield 1.42%

52W Low ₹ 772.1

Edit Ratio

LG Balakrishnan&Bros Research see more...

Overview Inc. Year: 1956Industry: Auto Ancillary

L.G. Balakrishnan & Bros Ltd is a transport enterprise. It's engaged in the business of producing chains, sprockets and steel shaped parts for automotive applications. The Company's segments consist of transmission, metal forming and others. The transmission section includes chains and sprockets. The metallic forming segment consists of fine blanking, machining and cord drawing merchandise. The others section consists of buying and selling goods. Its transmission products consists of tensioners, belts and brake shoe. It offers steel forming merchandise, consisting of fine blanking for precision sheet metallic elements, machined additives, and wire drawing products for inner use, other chain manufacturing plants, spring metal suppliers and umbrella producers. The Company's merchandise are marketed below the Rolon brand. It has manufacturing gadgets spread throughout Tamil Nadu, Maharashtra, Uttrakhand, Karnataka, Haryana and Rajasthan.

LG Balakrishnan&Bros Share Price

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Peer Comparison

LG Balakrishnan&Bros 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	574	559	521	578	581	523	539	600	600	607
Other Income	3	3	3	5	6	8	10	12	12	12
Total Income	577	562	524	583	587	531	548	612	612	619
Total Expenditure	458	454	436	476	474	434	451	496	494	506
Operating Profit	118	108	89	107	113	98	97	115	118	113
Interest	3	3	1	1	2	2	2	2	2	3
Depreciation	21	21	20	20	20	20	18	18	20	21
Exceptional Income / Expenses	0	5	9	1	2	8	-3	5	0	4
Profit Before Tax	95	90	77	87	93	83	74	101	97	93
Provision for Tax	23	26	19	20	21	29	19	25	24	25
Profit After Tax	71	64	58	67	72	55	55	75	73	68
Adjustments	-0	-0	-0	-0	-0	-0	-0	0	-0	0
Profit After Adjustments	71	64	58	67	72	54	55	75	73	68
Adjusted Earnings Per Share	22.6	20.2	18.6	21.4	23	17.3	17.7	24.1	23.1	21.6

LG Balakrishnan&Bros 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	956	1109	1173	1205	1259	1418	1688	1543	1609	2102	2203	2346
Other Income	4	5	2	4	9	5	3	5	8	12	26	46
Total Income	960	1113	1175	1209	1267	1423	1691	1548	1617	2114	2229	2391
Total Expenditure	867	982	1031	1068	1097	1222	1479	1357	1357	1713	1822	1947
Operating Profit	93	131	144	142	171	201	211	191	261	401	407	443
Interest	23	18	18	18	16	12	13	16	11	9	8	9
Depreciation	30	33	39	46	53	58	68	79	83	83	79	77
Exceptional Income / Expenses	0	0	7	0	1	0	12	19	14	23	20	6
Profit Before Tax	40	80	94	78	103	131	143	115	180	332	340	365
Provision for Tax	8	15	20	13	29	43	46	25	47	86	88	93
Profit After Tax	33	65	73	65	74	89	97	90	133	246	252	271
Adjustments	0	-2	-2	-1	-3	-2	3	2	1	-0	-0	0
Profit After Adjustments	33	63	71	63	71	86	100	92	133	245	252	271
Adjusted Earnings Per Share	10.4	20	22.7	20.2	22.6	27.4	31.7	29.2	42.5	78.2	80.3	86.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	5%	13%	9%	9%
Operating Profit CAGR	1%	29%	15%	16%
PAT CAGR	2%	41%	23%	23%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	58%	63%	29%	27%
ROE Average	20%	20%	18%	18%
ROCE Average	26%	26%	23%	21%

LG Balakrishnan&Bros 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	258	308	365	416	521	585	666	706	879	1132	1365
Minority's Interest	5	10	13	15	17	15	15	4	2	2	2
Borrowings	86	66	99	95	92	49	99	81	19	21	17
Other Non-Current Liabilities	65	77	78	22	25	27	31	40	38	38	43
Total Current Liabilities	254	289	312	312	293	339	410	301	440	519	446
Total Liabilities	668	749	867	860	947	1015	1221	1132	1378	1713	1873
Fixed Assets	228	255	316	381	396	413	531	584	541	499	487
Other Non-Current Assets	90	121	143	58	102	123	126	50	104	155	324
Total Current Assets	351	374	408	421	449	478	553	487	732	1059	1055
Total Assets	668	749	867	860	947	1015	1221	1132	1378	1713	1873

LG Balakrishnan&Bros 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	5	9	5	6	4	15	6	9	3	60	62
Cash Flow from Operating Activities	70	96	102	117	150	128	102	203	211	202	167
Cash Flow from Investing Activities	-63	-60	-97	-87	-78	-87	-180	-55	-121	-182	-157
Cash Flow from Financing Activities	-3	-39	-4	-33	-60	-50	81	-154	-33	-19	-58
Net Cash Inflow / Outflow	5	-4	1	-2	11	-9	2	-5	57	2	-48
Closing Cash & Cash Equivalent	9	5	6	4	15	6	9	3	60	62	14

LG Balakrishnan&Bros 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)	10.43	20.02	22.68	20.23	22.61	27.41	31.72	29.19	42.51	78.2	80.25
CEPS(Rs)	19.92	31.2	35.96	35.29	40.45	46.61	52.46	53.76	68.86	104.79	105.69
DPS(Rs)	7.5	12	7	6	7	4.5	5	5	10	15	16
Book NAV/Share(Rs)	81.38	97.2	115.34	131.8	165.83	186.46	212.12	224.92	280.13	360.74	434.92
Core EBITDA Margin(%)	8.58	10.46	11.1	10.37	11.61	13.45	12.35	12.07	15.69	18.52	17.31
EBIT Margin(%)	6.07	8.12	8.7	7.22	8.54	9.84	9.2	8.5	11.87	16.22	15.8
Pre Tax Margin(%)	3.87	6.64	7.32	5.87	7.41	9.02	8.45	7.44	11.19	15.78	15.45
PAT Margin (%)	3.13	5.4	5.73	4.89	5.32	6.09	5.72	5.84	8.26	11.69	11.45
Cash Profit Margin (%)	6	8.12	8.8	8.36	9.11	10.06	9.76	10.94	13.43	15.65	15.06
ROA(%)	5.17	9.19	9.08	7.51	8.2	9.02	8.64	7.66	10.59	15.9	14.07
ROE(%)	13.45	23.24	22.01	16.72	15.87	16.01	15.45	13.14	16.76	24.43	20.2
ROCE(%)	15.99	22.29	22.44	16.92	19.1	21.21	19.7	15.35	21.53	31.32	25.92
Receivable days	40.83	40.91	41.65	41.18	42.94	46.38	44.85	46.77	47.78	46.92	46.9
Inventory Days	68.16	61.08	62.35	63.12	60.01	60.73	60.55	70.55	67.03	63.99	69.24
Payable days	85.99	93.18	115.76	134.9	130.39	134.02	122.6	130.61	125.09	102.96	86.31
PER(x)	4.41	5.06	12.11	10.73	13.71	19.52	12.17	5.49	7.19	6.86	9.23
Price/Book(x)	0.56	1.04	2.38	1.65	1.87	2.87	1.82	0.71	1.09	1.49	1.7
Dividend Yield(%)	4.08	2.96	1.27	1.38	1.13	0.42	1.3	3.12	3.27	2.79	2.16
EV/Net Sales(x)	0.32	0.42	0.88	0.71	0.87	1.25	0.84	0.4	0.55	0.71	0.94
EV/Core EBITDA(x)	3.24	3.53	7.15	6.01	6.38	8.86	6.72	3.23	3.39	3.71	5.08
Net Sales Growth(%)	4.77	15.94	5.81	2.76	4.42	12.67	19.04	-8.6	4.29	30.65	4.8
EBIT Growth(%)	-17.36	54.79	13.95	-14.29	24.47	20.14	8.59	-15.6	45.71	78.44	2.09
PAT Growth(%)	-26.2	99.6	12.7	-11.66	14.32	19.38	9.17	-6.73	47.4	84.99	2.68
EPS Growth(%)	-26	92	13.32	-10.84	11.78	21.24	15.7	-7.97	45.64	83.94	2.63
Debt/Equity(x)	0.66	0.49	0.49	0.43	0.26	0.19	0.33	0.17	0.08	0.08	0.07
Current Ratio(x)	1.38	1.3	1.31	1.35	1.54	1.41	1.35	1.62	1.66	2.04	2.36
Quick Ratio(x)	0.61	0.58	0.57	0.62	0.75	0.66	0.6	0.66	0.98	1.2	1.47
Interest Cover(x)	2.76	5.47	6.31	5.35	7.56	12.04	12.2	8.05	17.47	36.96	45.08
Total Debt/Mcap(x)	1.16	0.47	0.21	0.26	0.14	0.06	0.18	0.24	0.07	0.06	0.04

LG Balakrishnan&Bros Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	34.32	34.32	34.32	34	34	34.21	33.86	33.74	33.74	33.74
FII	6.78	7.72	8.03	8.96	9.46	9.17	8.76	8.14	7.81	7.62
DII	12.48	11.8	11.82	11.74	11.74	11.74	12.73	13.78	13.91	13.99
Public	46.42	46.16	45.83	45.3	44.8	44.87	44.65	44.34	44.53	44.65
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	1.08	1.08	1.08	1.07	1.07	1.07	1.06	1.06	1.06	1.06
FII	0.21	0.24	0.25	0.28	0.3	0.29	0.28	0.26	0.25	0.24
DII	0.39	0.37	0.37	0.37	0.37	0.37	0.4	0.43	0.44	0.44
Public	1.46	1.45	1.44	1.42	1.41	1.41	1.4	1.39	1.4	1.4
Others	0	0	0	0	0	0	0	0	0	0
Total	3.14	3.14	3.14	3.14	3.14	3.14	3.14	3.14	3.14	3.14

Pros

Company has delivered good profit growth of 23% CAGR over last 5 years
Debtor days have improved from 102.96 to 86.31days.
Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 33.74%.

* 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.