SamvardhanaMotherson

₹127.7 2.2 | 1.7%

WEBSITE BSE:517334 NSE : MOTHERSON 10 May, 16:01

Market Cap ₹86501 Cr.

Stock P/E 43.3

P/B 3.7

Current Price ₹127.7

Book Value ₹ 34.1

Face Value 1

52W High ₹133.4

Dividend Yield 0.51%

52W Low ₹ 76.9

Edit Ratio

SamvardhanaMotherson Research see more...

Overview Inc. Year: 1986Industry: Auto Ancillary

Motherson Sumi Systems Limited manufactures components for the automotive and transport industries in India and across the world. The organization offers indoors and outside mirrors, and camera-based detection vision systems; modules and polymer products; slicing and gear cutting tools, and machining of high precision metallic machined additives; and generation, engineering, and manufacturing solutions. It also presents exterior lighting fixtures and electronics, passenger vehicle HVAC and compressors, body control module, struts, and shock absorbers and products; logistics solutions; and fitness and clinical merchandise, solutions, and services, in addition to included solutions for aerospace industry. In addition, the agency gives commercial park; manufacturing engineering, session, challenge control, and turnkey supplies to the car industry; and machine gear and hydraulic merchandise buying and selling. Further, it designs, manufactures, and integrates electric distribution systems, electronics, and related components for business automobile industries, rolling stock manufacturers, and other related segments. Motherson Sumi Systems Ltd become incorporated in 1986 and is based in Noida, India.

SamvardhanaMotherson Share Price

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Peer Comparison

SamvardhanaMotherson 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	14076	16118	17241	17654	18302	20267	22477	22462	23474	25698
Other Income	87	123	85	58	53	81	75	53	165	55
Total Income	14164	16240	17326	17713	18355	20348	22552	22515	23639	25752
Total Expenditure	13133	15041	15974	16538	16858	18651	20456	20538	21585	23328
Operating Profit	1031	1199	1352	1175	1497	1697	2096	1978	2054	2424
Interest	131	129	161	169	184	149	278	253	488	620
Depreciation	737	733	736	732	749	815	840	839	867	1016
Exceptional Income / Expenses	0	0	-48	0	-98	-1	-0	0	-249	-1
Profit Before Tax	162	336	407	273	466	732	977	886	449	787
Provision for Tax	86	101	266	93	171	217	254	261	229	218
Profit After Tax	77	235	141	180	295	515	723	625	220	569
Adjustments	140	10	-20	-39	-49	-61	-70	-24	-19	-27
Profit After Adjustments	217	245	122	141	246	454	654	601	202	542
Adjusted Earnings Per Share	0.5	0.5	0.2	0.2	0.4	0.7	1	0.9	0.3	0.8

SamvardhanaMotherson 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	25312	30428	34673	37216	42376	56293	63523	60729	57370	63774	78701	94111
Other Income	322	311	376	39	264	170	220	225	229	258	257	348
Total Income	25634	30739	35050	37256	42640	56463	63743	60954	57599	64032	78958	94458
Total Expenditure	23836	28031	31829	33668	38209	51171	58175	56075	53011	59075	72493	85907
Operating Profit	1798	2708	3220	3587	4431	5293	5569	4879	4588	4957	6465	8552
Interest	250	294	318	345	375	411	423	593	512	543	781	1639
Depreciation	715	817	921	1087	1059	1575	2058	2721	2926	2958	3136	3562
Exceptional Income / Expenses	0	0	-165	0	-97	-178	0	0	-62	-48	-100	-250
Profit Before Tax	834	1596	1817	2293	3083	3267	3200	1622	1173	1424	2405	3099
Provision for Tax	384	499	526	519	910	1007	1102	688	-69	607	735	962
Profit After Tax	451	1097	1292	1774	2172	2260	2098	934	1243	817	1670	2137
Adjustments	-6	-332	-429	-481	-618	-663	-485	236	-204	57	-174	-140
Profit After Adjustments	445	765	863	1292	1554	1597	1613	1170	1039	874	1496	1999
Adjusted Earnings Per Share	1	1.7	1.9	2.9	3.3	3.4	3.4	2.5	2.2	1.3	2.2	3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	23%	9%	7%	12%
Operating Profit CAGR	30%	10%	4%	14%
PAT CAGR	104%	21%	-6%	14%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	63%	-7%	8%	9%
ROE Average	8%	8%	10%	24%
ROCE Average	9%	8%	10%	17%

SamvardhanaMotherson 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	2289	2959	3324	4397	8273	9884	10963	11261	12561	20588	22452
Minority's Interest	403	790	1014	1512	2232	2960	3480	3565	4023	1776	1925
Borrowings	2716	2983	4086	4786	9444	7570	8100	8261	7469	8501	6618
Other Non-Current Liabilities	463	462	482	271	536	1123	1285	2335	1880	1971	1977
Total Current Liabilities	6869	8049	8474	9250	11383	15334	18891	19571	20294	22285	27515
Total Liabilities	12739	15244	17380	20216	31867	36871	42718	44993	47063	55122	60487
Fixed Assets	5277	5919	6129	7147	12103	14581	18292	20630	19971	20887	22648
Other Non-Current Assets	744	1270	1832	2620	3716	5190	4476	4897	5064	11618	11061
Total Current Assets	6719	8056	9419	10449	16048	17100	19950	19465	20249	22616	26779
Total Assets	12739	15244	17380	20216	31867	36871	42718	44993	47063	55122	60487

SamvardhanaMotherson 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	443	585	831	1743	1766	4877	2771	3540	4869	5937	4878
Cash Flow from Operating Activities	1486	2695	3390	2188	3800	3264	4312	6352	5051	2463	4643
Cash Flow from Investing Activities	-1079	-1372	-2853	-1906	-6726	-3194	-3311	-2240	-1894	-2312	-2245
Cash Flow from Financing Activities	-256	-1080	495	-263	5518	-2221	-225	-2803	-2098	-1217	-2734
Net Cash Inflow / Outflow	151	243	1031	19	2591	-2152	777	1309	1060	-1067	-336
Closing Cash & Cash Equivalent	594	827	1870	1762	4938	2726	3540	4869	5937	4878	4538

SamvardhanaMotherson 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	1.71	1.93	2.89	3.28	3.37	3.41	2.47	2.19	1.29	2.21
CEPS(Rs)	2.61	4.29	4.95	6.41	6.82	8.1	8.77	7.72	8.8	5.57	7.09
DPS(Rs)	2	2.5	3	2.5	2	2.25	1.5	1.5	1.5	0.65	0.65
Book NAV/Share(Rs)	5.1	6.61	7.42	9.85	17.46	20.87	23.14	23.77	26.52	30.38	33.13
Core EBITDA Margin(%)	5.71	7.73	8.06	9.37	9.65	9.06	8.42	7.66	7.6	7.37	7.89
EBIT Margin(%)	4.19	6.1	6.05	6.97	8.01	6.51	5.7	3.65	2.94	3.08	4.05
Pre Tax Margin(%)	3.22	5.15	5.15	6.06	7.14	5.78	5.04	2.67	2.05	2.23	3.06
PAT Margin (%)	1.74	3.54	3.66	4.68	5.03	4	3.3	1.54	2.17	1.28	2.12
Cash Profit Margin (%)	4.5	6.17	6.27	7.56	7.49	6.79	6.54	6.02	7.27	5.92	6.11
ROA(%)	3.65	7.84	7.92	9.44	8.34	6.58	5.27	2.13	2.7	1.6	2.89
ROE(%)	21.77	41.95	41.24	46	34.29	24.89	20.13	8.41	10.43	4.93	7.76
ROCE(%)	15.88	25.25	26.3	27.9	23.77	18.92	16.95	9.73	7.28	6.95	9.37
Receivable days	41.98	36.38	32.36	36.96	39.36	33.19	33.87	34.09	34.58	35.1	34.98
Inventory Days	34.23	34.65	36.39	29.09	22.65	22.88	24.93	29.51	32.3	32.73	33.08
Payable days	69.51	68.55	75.55	81.65	88.32	86.86	97.8	109.44	120.09	111.78	102.68
PER(x)	25.55	29.5	52.5	27.32	33.68	41.09	29.22	16.48	61.25	72.05	30.39
Price/Book(x)	4.98	7.65	13.66	8.03	6.33	6.64	4.3	1.71	5.07	3.06	2.02
Dividend Yield(%)	1.04	0.98	0.58	0.94	0.54	0.72	1.01	2.46	0.74	0.47	0.97
EV/Net Sales(x)	0.62	0.87	1.4	1.06	1.36	1.3	0.87	0.43	1.19	1.11	0.67
EV/Core EBITDA(x)	8.71	9.79	15.07	11.04	13.05	13.83	9.9	5.36	14.91	14.27	8.19
Net Sales Growth(%)	71.3	20.21	13.95	7.33	13.86	32.84	12.84	-4.4	-5.53	11.16	23.41
EBIT Growth(%)	87.98	74.45	12.93	23.56	31.07	6.37	-1.48	-38.87	-23.94	16.74	61.97
PAT Growth(%)	129.6	143.35	17.75	37.34	22.48	4.03	-7.16	-55.47	33.02	-34.23	104.28
EPS Growth(%)	69.48	72.1	12.74	49.83	13.33	2.8	0.99	-27.46	-11.19	-41.23	71.19
Debt/Equity(x)	2.15	1.64	1.55	1.38	1.25	1.05	1.05	1.05	0.85	0.62	0.54
Current Ratio(x)	0.98	1	1.11	1.13	1.41	1.12	1.06	0.99	1	1.01	0.97
Quick Ratio(x)	0.6	0.59	0.67	0.88	1.14	0.85	0.81	0.73	0.75	0.73	0.69
Interest Cover(x)	4.34	6.42	6.72	7.65	9.22	8.95	8.56	3.74	3.29	3.62	4.08
Total Debt/Mcap(x)	0.43	0.21	0.11	0.17	0.2	0.16	0.24	0.61	0.17	0.2	0.27

SamvardhanaMotherson Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	61.73	68.16	68.16	68.16	68.16	64.77	64.77	64.77	64.78	60.36
FII	16.43	10.78	9.49	8.75	8.24	10.87	10.83	11.41	10.77	12.44
DII	13.87	9.94	10.5	10.57	12.02	14.8	15.18	15	15.34	18.23
Public	7.98	11.13	11.86	12.53	11.58	9.56	9.22	8.83	9.1	8.98
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	194.93	307.91	307.91	307.91	461.87	438.88	438.88	438.88	438.99	408.99
FII	51.89	48.68	42.87	39.52	55.84	73.69	73.41	77.31	73	84.32
DII	43.79	44.88	47.43	47.74	81.46	100.29	102.88	101.63	103.96	123.5
Public	25.19	50.28	53.56	56.59	78.47	64.78	62.46	59.82	61.69	60.83
Others	0	0	0	0	0	0	0	0	0	0
Total	315.79	451.76	451.76	451.76	677.64	677.64	677.64	677.64	677.64	677.64

Pros

Debtor days have improved from 111.78 to 102.68days.
Company has reduced debt.

Cons

Company has a low return on equity of 8% over the last 3 years.
Stock is trading at 3.7 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.