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Sal Automotive Overview

Sal Automotive Limited was established in 1974 in Mohali, Punjab, has a storied history that began with the manufacturing of the “Vijay Kesari” scooter. Over the years, the company has transitioned into a global manufacturer of automotive components, seats, and agricultural implements. Known for its robust network of over 50 dealers across northern India which acts as the perfect moat for them and preventing competitors to enter in into this market, Sal Automotive is a preferred supplier to the Indian Automotive Industry. The compan...Read More

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Sal Automotive Key Financials

Market Cap ₹101 Cr.

Stock P/E 18.8

P/B 2.2

Current Price ₹211.1

Book Value ₹ 94.1

Face Value 10

52W High ₹298.8

Dividend Yield 0.59%

52W Low ₹ 164

Sal Automotive Share Price

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Volume
Price

Sal Automotive Quarterly Price

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Sal Automotive Peer Comparison

Sal Automotive Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 80 82 61 100 94 95 88 100 108 88
Other Income 1 0 -0 0 0 0 1 0 0 0
Total Income 81 82 61 100 95 95 89 100 108 88
Total Expenditure 77 79 58 97 91 91 86 98 104 85
Operating Profit 4 3 3 4 4 4 3 3 4 3
Interest 1 1 1 1 1 0 1 0 0 1
Depreciation 1 1 1 1 1 1 1 1 1 1
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -1
Profit Before Tax 2 1 1 2 2 2 1 1 3 1
Provision for Tax 1 0 0 1 0 1 1 0 1 0
Profit After Tax 1 1 1 1 2 1 1 1 2 1
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 1 1 1 1 2 1 1 1 2 1
Adjusted Earnings Per Share 3.1 1.9 1.9 3.1 3.3 2.9 2 1.8 3.9 1.3

Sal Automotive Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 94 96 93 114 131 85 95 151 304 308 378 384
Other Income 1 1 1 1 1 1 1 2 2 1 2 1
Total Income 95 96 94 115 131 87 96 152 305 308 379 385
Total Expenditure 90 93 90 109 125 86 93 152 293 295 365 373
Operating Profit 5 4 4 6 7 1 3 0 12 14 15 13
Interest 0 0 0 0 0 0 1 1 3 3 2 2
Depreciation 1 1 1 1 1 1 2 2 3 4 4 4
Exceptional Income / Expenses 0 0 0 0 0 3 0 0 0 0 0 -1
Profit Before Tax 4 3 3 5 5 2 1 -3 6 7 8 6
Provision for Tax 1 1 1 2 1 1 0 -1 1 2 2 2
Profit After Tax 2 2 2 3 3 1 1 -2 5 5 5 5
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 2 2 2 3 3 1 1 -2 5 5 5 5
Adjusted Earnings Per Share 5 4.2 4.8 7.1 7.2 2.6 1.8 -4.9 9.8 10.6 11.3 9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 23% 36% 35% 15%
Operating Profit CAGR 7% 0% 72% 12%
PAT CAGR 0% 0% 38% 10%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -10% 13% 21% 33%
ROE Average 13% 14% 7% 8%
ROCE Average 16% 15% 9% 11%

Sal Automotive Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 25 26 29 31 33 33 34 30 35 39 43
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 2 2 9 0 5
Other Non-Current Liabilities 2 1 1 1 1 1 2 1 4 3 3
Total Current Liabilities 23 21 21 35 31 30 39 71 82 70 72
Total Liabilities 50 48 51 67 65 64 77 104 130 112 123
Fixed Assets 9 9 6 9 9 9 9 13 33 34 36
Other Non-Current Assets 1 1 6 9 9 14 17 34 13 6 11
Total Current Assets 40 38 39 50 47 41 50 57 84 72 76
Total Assets 50 48 51 67 65 64 77 104 130 112 123

Sal Automotive Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 8 8 10 9 7 9 8 8 1 14 5
Cash Flow from Operating Activities 1 4 -0 -1 3 -7 -1 -9 17 11 10
Cash Flow from Investing Activities -1 -0 -1 -3 -1 7 -0 -14 -10 -3 -6
Cash Flow from Financing Activities -1 -1 -1 3 -0 -2 2 16 6 -16 -7
Net Cash Inflow / Outflow -0 3 -2 -1 1 -1 0 -7 13 -8 -3
Closing Cash & Cash Equivalent 8 10 9 7 9 8 8 1 14 5 2

Sal Automotive Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 5.03 4.24 4.8 7.1 7.24 2.61 1.75 -4.85 9.8 10.63 11.25
CEPS(Rs) 7.04 5.91 6.38 8.99 10.09 5.61 4.95 -0.42 16.21 19.2 20.18
DPS(Rs) 1.75 1.75 2 2.25 2.25 1.75 1.75 0 2 2.25 1.25
Book NAV/Share(Rs) 52.48 54.62 60.26 65.19 69.71 69.7 69.97 63.27 72.88 80.98 89.72
Core EBITDA Margin(%) 3.6 2.8 3.12 4.42 4.39 -0.7 1.6 -0.83 3.42 4.14 3.38
EBIT Margin(%) 3.46 2.84 3.35 4.44 3.98 2.64 1.46 -1.22 2.91 3.12 2.71
Pre Tax Margin(%) 3.44 2.82 3.29 4.26 3.69 2.15 0.9 -1.99 2.04 2.21 2.08
PAT Margin (%) 2.33 1.93 2.23 2.93 2.66 1.46 0.89 -1.54 1.55 1.66 1.43
Cash Profit Margin (%) 3.26 2.69 2.97 3.7 3.7 3.15 2.51 -0.13 2.56 2.99 2.56
ROA(%) 4.89 4.17 4.66 5.76 5.27 1.95 1.19 -2.57 4.02 4.21 4.59
ROE(%) 9.75 7.92 8.36 11.32 10.74 3.75 2.51 -7.28 14.4 13.82 13.18
ROCE(%) 14.48 11.68 12.55 17.1 15.97 6.74 3.64 -3.68 13.78 14.28 15.95
Receivable days 72.62 62.99 63.11 78.53 79.5 100.57 94.62 76.2 43.15 43.78 39.12
Inventory Days 17.86 19.99 20.07 18.73 18.53 30.52 30.88 28.57 23.59 27.3 21.63
Payable days 107.18 97.28 99.49 102.88 93.93 129.52 131.16 107.03 67.93 69.2 55.03
PER(x) 0 0 5.05 8.86 16.53 17.54 47.11 0 12.55 21.66 28.4
Price/Book(x) 0 0 0.4 0.97 1.72 0.66 1.18 1.56 1.69 2.84 3.56
Dividend Yield(%) 0 0 8.26 3.57 1.88 3.82 2.12 0 1.63 0.98 0.39
EV/Net Sales(x) -0.06 -0.08 0.03 0.2 0.37 0.17 0.43 0.49 0.27 0.42 0.46
EV/Core EBITDA(x) -1.16 -2.13 0.73 3.83 7.46 22.74 13.83 257.02 6.83 9.48 11.94
Net Sales Growth(%) 16.36 1.93 -2.77 22.28 14.9 -34.58 10.62 59.27 101.74 1.23 22.84
EBIT Growth(%) 0.14 -16.31 15.24 49.48 0.6 -56.5 -38.94 -233.25 581.07 8.39 6.75
PAT Growth(%) 2.76 -15.75 13.25 47.93 1.99 -63.96 -32.96 -377.11 302.04 8.52 5.81
EPS Growth(%) 2.76 -15.75 13.25 47.93 1.99 -63.96 -32.96 -377.11 302.04 8.52 5.81
Debt/Equity(x) 0 0 0 0.01 0 0 0.26 0.89 1.03 0.63 0.51
Current Ratio(x) 1.74 1.83 1.83 1.44 1.53 1.38 1.28 0.81 1.03 1.03 1.06
Quick Ratio(x) 1.48 1.56 1.56 1.4 1.56 1.36 1.06 0.6 0.73 0.72 0.74
Interest Cover(x) 267.43 130.96 51.66 25.34 13.97 5.35 2.61 -1.59 3.34 3.42 4.33
Total Debt/Mcap(x) 0 0 0 0.01 0 0 0.22 0.57 0.61 0.22 0.14

Sal Automotive Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 75 75 75 75 75 75 75 75 75 75
FII 0 0 0 0 0 0 0 0 0 0
DII 4.44 4.44 4.44 4.44 4.44 4.44 4.44 4.44 4.44 4.44
Public 20.56 20.56 20.56 20.56 20.56 20.56 20.56 20.56 20.56 20.56
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Sal Automotive News

Sal Automotive Pros & Cons

Pros

  • Company has delivered good profit growth of 37% CAGR over last 5 years
  • Debtor days have improved from 69.2 to 55.03days.

Cons

  • Company has a low return on equity of 14% over the last 3 years.
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