Pix Transmission

₹1301.1 -0.4 | 0%

WEBSITE BSE:500333 NSE : PIX TRANS 10 May, 16:01

Market Cap ₹1773 Cr.

Stock P/E 22.8

P/B 3.8

Current Price ₹1301.1

Book Value ₹ 342.1

Face Value 10

52W High ₹1570

Dividend Yield 0.46%

52W Low ₹ 762.1

Edit Ratio

Pix Transmission Research see more...

EQUITY RESEARCH: Pix Transmission Ltd.

Overview Inc. Year: 1981Industry: Rubber Products

Pix Transmissions Ltd manufactures and sells belts and associated mechanical power transmissions merchandise in India. The enterprise gives ribbed/poly-V, timing/synchronous, banded, car, industrial, special construction, agriculture, garden and lawn, and V-belts; and PowerWare products, which include pulleys, couplings, bespokes, and tensioners and idler pulleys, in addition to add-ons, which includes service kits, pulley and profile gauges, laser guided pulley alignment tools, belt length measurers, tension meters, poly-v belt wear gauges, timing belt gauges, and X'slit belt cutting gear. Its merchandise used in business, ceramic, cement, oil and gasoline, electricity plant, wooden, automotive, cold garage, entertainment and sport, packaging, rice/flour mills, building and construction, agriculture, meals processing, system gear, paper pulp, metal, lawn and garden, domestic equipment, mineral ore mining, pharmaceutical, and textile industries. It also exports its products. Pix Transmissions Ltd become integrated in 1981 and is based totally in Mumbai, India.

Pix Transmission Share Price

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Peer Comparison

Pix Transmission 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	116	109	125	120	119	112	134	112	124	128
Other Income	1	2	3	6	6	1	0	3	4	5
Total Income	117	111	128	127	125	113	134	115	128	133
Total Expenditure	84	81	97	95	95	90	102	87	93	96
Operating Profit	33	30	31	31	30	23	33	29	35	37
Interest	2	2	2	2	2	2	2	1	1	1
Depreciation	5	5	5	6	6	6	6	6	6	6
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	26	23	23	24	22	15	25	22	28	30
Provision for Tax	6	6	8	6	6	4	6	6	7	8
Profit After Tax	20	17	15	18	16	12	19	16	21	22
Adjustments	0	0	0	-0	-0	0	0	0	-0	0
Profit After Adjustments	20	17	15	18	16	12	19	16	21	22
Adjusted Earnings Per Share	14.5	12.6	11.4	13	11.9	8.7	14	11.6	15.2	16.2

Pix Transmission 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	233	207	219	234	252	264	309	319	380	449	486	498
Other Income	6	4	3	3	6	5	7	8	5	8	14	12
Total Income	239	211	222	237	258	270	316	326	385	457	500	510
Total Expenditure	195	174	182	196	204	206	250	258	269	334	382	378
Operating Profit	44	37	40	41	54	63	66	68	116	124	118	134
Interest	20	17	20	19	16	15	13	12	9	8	8	5
Depreciation	13	14	13	13	13	15	16	19	20	21	23	24
Exceptional Income / Expenses	134	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	145	7	6	10	24	34	38	37	87	95	87	105
Provision for Tax	39	-1	3	3	8	11	9	7	22	26	22	27
Profit After Tax	106	8	4	7	16	23	29	30	65	69	65	78
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	106	8	4	7	16	23	29	30	65	69	65	78
Adjusted Earnings Per Share	75.9	5.3	2.9	4.8	11.9	16.6	21	22.2	47.6	50.5	47.6	57

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	8%	15%	13%	8%
Operating Profit CAGR	-5%	20%	13%	10%
PAT CAGR	-6%	29%	23%	-5%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	72%	42%	49%	44%
ROE Average	17%	21%	18%	24%
ROCE Average	20%	24%	20%	21%

Pix Transmission 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	150	148	150	151	171	189	214	236	300	365	418
Minority's Interest	0	-0	0	0	0	0	0	0	0	0	0
Borrowings	32	49	59	48	50	42	47	43	38	61	44
Other Non-Current Liabilities	17	14	16	18	20	22	22	21	23	23	31
Total Current Liabilities	138	166	104	113	114	100	102	99	80	105	82
Total Liabilities	337	377	329	330	355	353	385	400	440	555	575
Fixed Assets	100	142	167	173	174	187	199	219	226	259	273
Other Non-Current Assets	30	51	9	12	21	10	17	10	8	21	8
Total Current Assets	191	168	145	146	159	157	168	171	206	275	294
Total Assets	337	377	329	330	355	353	385	400	440	555	575

Pix Transmission 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	8	32	20	16	18	17	10	13	12	10	24
Cash Flow from Operating Activities	142	45	32	64	27	31	47	52	58	55	112
Cash Flow from Investing Activities	44	-61	-29	-26	-15	-14	-34	-28	-16	-72	-22
Cash Flow from Financing Activities	-162	3	-6	-30	-13	-25	-10	-19	-43	31	-69
Net Cash Inflow / Outflow	24	-13	-4	8	-1	-7	3	5	-2	14	21
Closing Cash & Cash Equivalent	32	20	16	24	17	10	13	18	10	24	45

Pix Transmission 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)	75.91	5.26	2.87	4.8	11.92	16.56	20.97	22.19	47.63	50.53	47.58
CEPS(Rs)	87.61	15.44	12.27	14.37	21.73	27.33	32.6	35.99	62.29	65.76	64.71
DPS(Rs)	4.5	1.5	1	1.5	2	2.5	2.75	2	5	6	6
Book NAV/Share(Rs)	94.93	97.29	103.88	111.18	125.12	138.71	156.85	173.43	219.88	267.77	306.8
Core EBITDA Margin(%)	15.96	16.07	16.83	16.29	18.97	21.91	19.15	18.91	27.89	24.79	21.39
EBIT Margin(%)	67.79	11.31	12.19	12.09	16.05	18.39	16.31	15.47	24.15	22.09	19.38
Pre Tax Margin(%)	59.4	3.17	2.96	4.16	9.73	12.79	12.26	11.74	21.86	20.32	17.71
PAT Margin (%)	43.55	3.64	1.78	2.79	6.46	8.52	9.24	9.49	16.24	14.79	13.27
Cash Profit Margin (%)	49.02	10.17	7.62	8.36	11.77	14.06	14.37	15.39	21.24	19.25	18.05
ROA(%)	31.2	2.11	1.11	1.98	4.75	6.38	7.75	7.71	15.46	13.85	11.48
ROE(%)	139.38	5.74	2.85	4.46	10.09	12.55	14.19	13.44	24.22	20.72	16.56
ROCE(%)	68.92	9.86	10.15	10.24	14.03	16.45	16.24	14.84	27.26	24.11	19.55
Receivable days	75.28	101.66	87.5	78.89	82.36	86.57	78.32	77.52	68.1	69.4	75.06
Inventory Days	94.57	97.84	92.91	77.62	65.83	76.84	79.25	81.85	77.51	86.86	86.03
Payable days	107.33	139.56	142.74	88.29	93.11	93.84	65.28	68.69	69.98	60.63	48.32
PER(x)	0.49	6.46	16.86	10.32	11.07	7.35	8.4	3.73	7.04	16.84	15.97
Price/Book(x)	0.4	0.35	0.47	0.45	1.05	0.88	1.12	0.48	1.52	3.18	2.48
Dividend Yield(%)	12	4.41	2.07	3.03	1.52	2.06	1.56	2.42	1.49	0.71	0.79
EV/Net Sales(x)	0.49	0.7	0.84	0.72	1.16	0.98	1.1	0.61	1.35	2.77	2.16
EV/Core EBITDA(x)	2.56	3.92	4.67	4.09	5.41	4.11	5.13	2.87	4.41	10.07	8.91
Net Sales Growth(%)	7.24	-11.34	5.95	6.82	7.41	5.09	16.91	3.09	19.35	18.14	8.24
EBIT Growth(%)	476.43	-85.82	14.14	5.98	42.57	20.66	3.5	-2.21	95.71	6.55	-7.9
PAT Growth(%)	4027.18	-92.91	-48.02	67.16	148.61	38.85	26.6	5.84	114.64	6.08	-5.85
EPS Growth(%)	3718.48	-93.07	-45.46	67.16	148.52	38.9	26.6	5.84	114.64	6.08	-5.85
Debt/Equity(x)	0.68	0.89	0.95	0.83	0.75	0.55	0.53	0.43	0.24	0.32	0.16
Current Ratio(x)	1.38	1.01	1.39	1.29	1.4	1.57	1.65	1.73	2.59	2.61	3.58
Quick Ratio(x)	0.98	0.68	0.85	0.91	0.99	0.92	0.97	0.99	1.37	1.43	2.29
Interest Cover(x)	8.08	1.39	1.32	1.52	2.54	3.29	4.02	4.14	10.55	12.5	11.58
Total Debt/Mcap(x)	1.77	2.54	2.04	1.86	0.71	0.63	0.47	0.9	0.16	0.1	0.07

Pix Transmission Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	61.78	61.78	61.79	61.8	61.8	61.82	61.82	61.82	61.82	61.82
FII	0.05	0.05	0.05	0.05	0.05	0.21	0.55	0.23	0.24	0.27
DII	0.23	0.31	0.36	0.36	0.36	0.41	0.36	3.71	5.23	5.23
Public	37.94	37.85	37.79	37.79	37.78	37.57	37.27	34.24	32.72	32.69
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	0.84	0.84	0.84	0.84	0.84	0.84	0.84	0.84	0.84	0.84
FII	0	0	0	0	0	0	0.01	0	0	0
DII	0	0	0	0	0	0.01	0	0.05	0.07	0.07
Public	0.52	0.52	0.51	0.51	0.51	0.51	0.51	0.47	0.45	0.45
Others	0	0	0	0	0	0	0	0	0	0
Total	1.36	1.36	1.36	1.36	1.36	1.36	1.36	1.36	1.36	1.36

Pros

Company has delivered good profit growth of 23% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 21%
Debtor days have improved from 60.63 to 48.32days.
Company has reduced debt.
Company is almost debt free.

Cons

Stock is trading at 3.8 times its book value.

* 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.

Pix Transmission News

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Pix Transmission

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Pix Transmission Research see more...

Overview Inc. Year: 1981Industry: Rubber Products

Pix Transmission Share Price

Alert Data

Quarterly Price

Peer Comparison

Pix Transmission Quarterly Results

Pix Transmission Profit & Loss

Growth Rates

Pix Transmission Balance Sheet

Pix Transmission Cash Flow

Pix Transmission Ratios

Pix Transmission Shareholding Pattern

Pix Transmission News

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