Market Cap ₹268 Cr.
Stock P/E -37.4
P/B 0.9
Current Price ₹191.5
Book Value ₹ 207.9
Face Value 10
52W High ₹294.7
Dividend Yield 0.78%
52W Low ₹ 162.7
PPAP Automotive Ltd is engaged in the business of producing of automotive elements. The Company manufactures automobile sealing systems, and exterior and interior automobile parts in India. The Company offers polymer extrusion-based automotive sealing system and injection-molded products. The Company's automotive sealing system product variety includes outer belt molding (black kind/bright kind), internal belt molding, windshield molding, roof molding, quarter window molding, air spoiler, a-pillar garnish, b-pillar garnish, body side protector, skirt air damper and slide rail system. The Company additionally manufactures indoors and outdoors Injection molded merchandise, including door trims, interior pillars, rear parcel shelf, trunk linings and fender Inner. It has injection molding machines, ranging from 60 lots to 2,500 tons. It's manufacturing facilities are located in Chennai (Tamil Nadu) and Pathredi (Rajasthan) and Noida, Greater Noida,(Uttar Pradesh).
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| #(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 | 106 | 115 | 123 | 123 | 128 | 127 | 132 | 116 | 148 | 122 |
| Other Income | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 0 |
| Total Income | 106 | 115 | 123 | 124 | 129 | 128 | 133 | 117 | 149 | 122 |
| Total Expenditure | 94 | 103 | 110 | 110 | 115 | 118 | 123 | 110 | 136 | 113 |
| Operating Profit | 12 | 12 | 12 | 14 | 13 | 9 | 9 | 7 | 13 | 10 |
| Interest | 1 | 2 | 2 | 2 | 3 | 3 | 3 | 4 | 3 | 4 |
| Depreciation | 7 | 8 | 7 | 8 | 8 | 8 | 8 | 8 | 9 | 9 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 3 | 3 | 3 | 3 | 3 | -2 | -2 | -5 | 1 | -2 |
| Provision for Tax | 1 | 1 | 1 | 1 | 1 | -0 | -0 | -1 | -0 | -1 |
| Profit After Tax | 2 | 2 | 2 | 3 | 2 | -1 | -2 | -4 | 1 | -2 |
| Adjustments | -1 | -1 | -1 | -2 | -3 | -3 | -1 | 1 | -0 | -1 |
| Profit After Adjustments | 2 | 1 | 1 | 1 | -1 | -4 | -2 | -3 | 1 | -3 |
| Adjusted Earnings Per Share | 1.2 | 0.8 | 0.6 | 0.4 | -0.4 | -2.6 | -1.6 | -2 | 0.4 | -1.9 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 319 | 345 | 398 | 411 | 360 | 322 | 422 | 511 | 518 |
| Other Income | 1 | 2 | 3 | 1 | 1 | 2 | 1 | 1 | 1 |
| Total Income | 320 | 347 | 400 | 412 | 360 | 324 | 423 | 513 | 521 |
| Total Expenditure | 265 | 278 | 313 | 334 | 309 | 289 | 383 | 467 | 482 |
| Operating Profit | 54 | 69 | 88 | 78 | 52 | 35 | 40 | 46 | 39 |
| Interest | 8 | 6 | 5 | 4 | 3 | 4 | 7 | 12 | 14 |
| Depreciation | 25 | 24 | 26 | 26 | 26 | 26 | 29 | 31 | 34 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 22 | 38 | 57 | 48 | 23 | 5 | 0 | -5 | -8 |
| Provision for Tax | 7 | 13 | 20 | 15 | 4 | 1 | 1 | 1 | -2 |
| Profit After Tax | 14 | 25 | 37 | 33 | 19 | 4 | -1 | -6 | -7 |
| Adjustments | 0 | 3 | 2 | 0 | -1 | -2 | 0 | 0 | -1 |
| Profit After Adjustments | 14 | 28 | 39 | 34 | 18 | 2 | -1 | -6 | -7 |
| Adjusted Earnings Per Share | 10 | 20 | 28.1 | 24.1 | 13 | 1.5 | -0.6 | -4.2 | -5.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 21% | 12% | 5% | 0% |
| Operating Profit CAGR | 15% | -4% | -12% | 0% |
| PAT CAGR | 0% | NAN% | NAN% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -1% | -4% | -6% | 15% |
| ROE Average | -2% | -0% | 3% | 6% |
| ROCE Average | 2% | 2% | 6% | 10% |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 206 | 237 | 270 | 295 | 303 | 306 | 304 | 295 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 44 | 28 | 16 | 13 | 12 | 45 | 79 | 80 |
| Other Non-Current Liabilities | 11 | 15 | 16 | 16 | 16 | 14 | 13 | 11 |
| Total Current Liabilities | 67 | 80 | 101 | 106 | 81 | 80 | 105 | 163 |
| Total Liabilities | 328 | 359 | 404 | 431 | 413 | 444 | 501 | 549 |
| Fixed Assets | 217 | 197 | 211 | 237 | 230 | 244 | 284 | 319 |
| Other Non-Current Assets | 10 | 57 | 72 | 61 | 70 | 82 | 80 | 63 |
| Total Current Assets | 101 | 106 | 121 | 133 | 113 | 118 | 137 | 167 |
| Total Assets | 328 | 359 | 404 | 431 | 413 | 444 | 501 | 549 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 2 | 0 | 2 | 1 | 0 | 3 | 1 | 0 |
| Cash Flow from Operating Activities | 41 | 70 | 78 | 59 | 36 | 26 | 21 | 31 |
| Cash Flow from Investing Activities | -24 | -43 | -45 | -43 | -27 | -49 | -71 | -58 |
| Cash Flow from Financing Activities | -18 | -25 | -33 | -17 | -6 | 21 | 49 | 28 |
| Net Cash Inflow / Outflow | -1 | 2 | -1 | -1 | 3 | -2 | -1 | 0 |
| Closing Cash & Cash Equivalent | 1 | 2 | 1 | 0 | 3 | 1 | 0 | 1 |
| # | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 10.02 | 19.97 | 28.08 | 24.1 | 13 | 1.5 | -0.56 | -4.25 |
| CEPS(Rs) | 27.64 | 35.31 | 45.29 | 42.44 | 32.02 | 21.49 | 20.49 | 17.98 |
| DPS(Rs) | 2 | 3 | 4.5 | 4.5 | 3 | 1 | 1.5 | 1.5 |
| Book NAV/Share(Rs) | 146.81 | 168.99 | 192.64 | 211.01 | 216.59 | 218.7 | 217.06 | 210.19 |
| Core EBITDA Margin(%) | 14.52 | 16.96 | 20.8 | 18.84 | 14.19 | 10.33 | 9.25 | 8.66 |
| EBIT Margin(%) | 8.08 | 11.28 | 15.07 | 12.77 | 7.2 | 2.76 | 1.68 | 1.35 |
| Pre Tax Margin(%) | 5.87 | 9.67 | 13.95 | 11.73 | 6.38 | 1.48 | 0.03 | -1 |
| PAT Margin (%) | 3.83 | 6.37 | 9.15 | 8.13 | 5.32 | 1.12 | -0.19 | -1.16 |
| Cash Profit Margin (%) | 10.56 | 12.57 | 15.51 | 14.46 | 12.47 | 9.34 | 6.8 | 4.93 |
| ROA(%) | 4.27 | 7.29 | 9.8 | 8.01 | 4.53 | 0.85 | -0.17 | -1.13 |
| ROE(%) | 6.82 | 11.33 | 14.78 | 11.83 | 6.38 | 1.19 | -0.26 | -1.99 |
| ROCE(%) | 10.58 | 15.61 | 20.97 | 16.95 | 8.02 | 2.6 | 1.84 | 1.62 |
| Receivable days | 39.96 | 41.27 | 46.44 | 50.03 | 49.45 | 56.85 | 50.29 | 43.19 |
| Inventory Days | 38.8 | 28.78 | 24.55 | 34.16 | 47.99 | 53.54 | 43.69 | 47.2 |
| Payable days | 50.91 | 49.57 | 54.15 | 66.08 | 80.42 | 92.52 | 71.15 | 67.73 |
| PER(x) | 15.57 | 11.49 | 18.7 | 11.9 | 11 | 132.88 | 0 | 0 |
| Price/Book(x) | 1.06 | 1.36 | 2.73 | 1.36 | 0.66 | 0.91 | 0.88 | 0.74 |
| Dividend Yield(%) | 1.28 | 1.31 | 0.86 | 1.57 | 2.1 | 0.5 | 0.79 | 0.96 |
| EV/Net Sales(x) | 0.92 | 1.08 | 1.92 | 1.04 | 0.6 | 1.02 | 0.89 | 0.72 |
| EV/Core EBITDA(x) | 5.38 | 5.4 | 8.71 | 5.42 | 4.19 | 9.31 | 9.33 | 8.06 |
| Net Sales Growth(%) | 0 | 8.28 | 15.25 | 3.36 | -12.52 | -10.38 | 30.95 | 21.14 |
| EBIT Growth(%) | 0 | 49.87 | 38.9 | -14.81 | -50.72 | -65.58 | -20.48 | -2.18 |
| PAT Growth(%) | 0 | 78.64 | 49.33 | -10.68 | -42.81 | -81.05 | -121.77 | -653.97 |
| EPS Growth(%) | 0 | 99.35 | 40.6 | -14.17 | -46.04 | -88.48 | -137.58 | -654.02 |
| Debt/Equity(x) | 0.36 | 0.22 | 0.11 | 0.08 | 0.07 | 0.17 | 0.36 | 0.51 |
| Current Ratio(x) | 1.49 | 1.33 | 1.19 | 1.25 | 1.4 | 1.49 | 1.3 | 1.03 |
| Quick Ratio(x) | 0.91 | 1.04 | 0.88 | 0.83 | 0.78 | 0.92 | 0.77 | 0.56 |
| Interest Cover(x) | 3.66 | 7 | 13.48 | 12.3 | 8.86 | 2.15 | 1.02 | 0.58 |
| Total Debt/Mcap(x) | 0.34 | 0.16 | 0.04 | 0.06 | 0.11 | 0.19 | 0.41 | 0.69 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 64.87 | 64.87 | 64.87 | 64.87 | 65.01 | 65.01 | 65.01 | 65.01 | 65.01 | 65.01 |
| FII | 4.41 | 5.85 | 5.74 | 5.78 | 5.73 | 5.7 | 5.7 | 5.7 | 5.7 | 5.75 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 30.72 | 29.28 | 29.39 | 29.35 | 29.26 | 29.29 | 29.29 | 29.29 | 29.29 | 29.24 |
| 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 | 0.91 | 0.91 | 0.91 | 0.91 | 0.91 | 0.91 | 0.91 | 0.91 | 0.91 | 0.91 |
| FII | 0.06 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.43 | 0.41 | 0.41 | 0.41 | 0.41 | 0.41 | 0.41 | 0.41 | 0.41 | 0.41 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 |
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