Sansera Engineering

₹1013 22 | 2.2%

WEBSITE BSE:543358 NSE : SANSERA 10 May, 16:01

Market Cap ₹5431 Cr.

Stock P/E 30.9

P/B 4.2

Current Price ₹1013

Book Value ₹ 242.3

Face Value 2

52W High ₹1094.8

Dividend Yield 0.25%

52W Low ₹ 738.2

Edit Ratio

Sansera Engineering Research see more...

Equity Research: Sansera Engineering Limited

Overview Inc. Year: 1981Industry: Auto Ancillary

Sansera Engineering Ltd manufactures and components precision components for heavy-duty commercial cars and non-automotive sectors. The agency gives automobile components, together with connecting rods, rocker hands, finger followers, balancer shafts, equipment shifter forks and shafts, suspension and guidance elements, meeting additives, and aluminum components. It also provides products for off-street vehicles; business and stationery engines; pump barrels; and agricultural and aerospace products. Sansera Engineering Ltd become incorporated in 1981 and is primarily based in Bengaluru, India.

Sansera Engineering Share Price

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Peer Comparison

Sansera Engineering 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	540	485	574	532	636	560	617	660	693	713
Other Income	2	1	6	1	1	4	6	0	1	1
Total Income	542	487	581	533	636	564	623	660	694	714
Total Expenditure	433	411	481	441	528	471	522	546	575	592
Operating Profit	109	76	100	92	109	93	101	115	119	122
Interest	11	13	15	14	14	16	17	19	18	18
Depreciation	29	31	33	31	32	33	35	35	37	38
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	69	32	53	48	63	44	49	61	64	67
Provision for Tax	17	8	15	13	16	13	13	16	16	18
Profit After Tax	52	24	37	35	47	31	35	45	48	48
Adjustments	-1	-1	0	-1	-1	-0	-0	-0	-1	-0
Profit After Adjustments	51	23	37	34	46	31	35	45	47	48
Adjusted Earnings Per Share	9.9	4.5	7.2	6.5	8.7	5.9	6.6	8.4	8.8	9

Sansera Engineering 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	546	637	814	901	1018	1358	1624	1457	1549	1989	2338	2683
Other Income	6	10	1	5	6	13	16	16	23	15	18	8
Total Income	552	647	815	906	1025	1371	1641	1473	1572	2005	2356	2691
Total Expenditure	453	521	673	746	850	1109	1337	1230	1275	1653	1959	2235
Operating Profit	98	125	141	160	175	262	304	243	297	351	397	457
Interest	32	28	23	32	33	44	51	61	50	53	64	72
Depreciation	32	36	33	36	47	61	70	94	102	120	130	145
Exceptional Income / Expenses	0	-2	0	0	0	-12	-16	0	0	0	0	0
Profit Before Tax	34	60	86	91	96	145	166	89	146	178	203	241
Provision for Tax	9	16	32	24	32	58	67	8	36	46	55	63
Profit After Tax	25	44	54	68	64	87	99	80	110	132	148	176
Adjustments	-2	-2	-0	-0	0	-2	-2	0	-2	-1	-2	-1
Profit After Adjustments	23	43	54	67	64	85	97	81	108	130	146	175
Adjusted Earnings Per Share	4.8	9.1	11.4	14.3	13.7	18.2	20.8	17.2	23	25	27.6	32.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	18%	17%	11%	16%
Operating Profit CAGR	13%	18%	9%	15%
PAT CAGR	12%	23%	11%	19%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	37%	NA%	NA%	NA%
ROE Average	14%	14%	14%	15%
ROCE Average	15%	15%	15%	16%

Sansera Engineering 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	176	306	360	438	508	594	688	768	878	1023	1168
Minority's Interest	17	9	6	6	5	7	9	9	10	12	14
Borrowings	83	56	53	79	117	182	213	172	188	234	263
Other Non-Current Liabilities	16	16	28	35	60	84	130	190	205	214	203
Total Current Liabilities	243	233	289	349	413	558	620	689	648	738	815
Total Liabilities	534	621	736	907	1104	1425	1660	1828	1929	2221	2463
Fixed Assets	280	300	332	440	593	692	928	1064	1127	1239	1394
Other Non-Current Assets	31	34	73	71	68	145	108	126	119	187	155
Total Current Assets	222	287	331	396	443	588	624	638	683	794	914
Total Assets	534	621	736	907	1104	1425	1660	1828	1929	2221	2463

Sansera Engineering 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	37	4	16	11	37	11	34	24	60	37	38
Cash Flow from Operating Activities	68	44	73	149	93	137	214	244	256	213	256
Cash Flow from Investing Activities	-80	-60	-102	-137	-163	-208	-238	-177	-139	-255	-241
Cash Flow from Financing Activities	-15	20	24	21	44	98	18	-32	-139	47	-6
Net Cash Inflow / Outflow	-28	4	-5	33	-27	27	-5	35	-23	4	9
Closing Cash & Cash Equivalent	9	7	11	44	11	34	24	60	37	38	50

Sansera Engineering 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)	4.83	9.07	11.45	14.33	13.66	18.18	20.77	17.18	23.01	25.01	27.62
CEPS(Rs)	12.11	0	0	0	0	0	36.18	37.1	45.07	48.24	52.6
DPS(Rs)	0	0	0	0	0	0	0	0	0	2	2.5
Book NAV/Share(Rs)	37.55	63.02	74.47	88.8	102.65	120.66	140.53	157.55	181	191.94	216.96
Core EBITDA Margin(%)	15.8	17.02	16.16	15.93	15.39	18.02	17.68	15.6	17.7	16.87	16.23
EBIT Margin(%)	11.29	13.02	12.44	12.7	11.72	13.68	13.38	10.25	12.63	11.63	11.43
Pre Tax Margin(%)	5.8	8.83	9.84	9.39	8.72	10.5	10.25	6.09	9.43	8.97	8.69
PAT Margin (%)	4.21	6.52	6.18	6.95	5.82	6.28	6.11	5.51	7.09	6.63	6.34
Cash Profit Margin (%)	9.69	11.75	9.97	10.67	10.07	10.67	10.45	11.95	13.65	12.65	11.91
ROA(%)	4.68	7.66	7.93	8.22	6.34	6.87	6.44	4.6	5.85	6.36	6.33
ROE(%)	13.52	18.73	16.67	17.62	14.21	16.58	16.21	11.47	13.83	14.25	13.8
ROCE(%)	15.65	18.64	18.95	17.93	15.52	18.59	17.99	11.11	13.82	14.95	15.06
Receivable days	59.53	62.49	58.6	60.09	63.03	62.16	60.03	66.42	67.39	66.2	65.66
Inventory Days	53.98	55	52.48	50.04	45.79	46.45	50.73	60.41	57.42	48.28	50.62
Payable days	56.85	71.09	54.79	65.61	73.65	70.99	74.65	84.64	101.02	103.98	100.08
PER(x)	0	0	0	0	0	0	0	0	0	27.11	26.97
Price/Book(x)	0	0	0	0	0	0	0	0	0	3.53	3.43
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0.29	0.34
EV/Net Sales(x)	0.44	0.33	0.32	0.31	0.38	0.37	0.36	0.4	0.32	2.08	1.96
EV/Core EBITDA(x)	2.46	1.68	1.86	1.78	2.21	1.94	1.92	2.4	1.69	11.77	11.56
Net Sales Growth(%)	5.46	16.65	27.86	10.69	13.02	33.36	19.61	-10.3	6.32	28.39	17.56
EBIT Growth(%)	27.46	33.4	22.7	13.9	4.18	47.21	14.83	-31.27	30.98	18.21	15.52
PAT Growth(%)	21.96	79.27	21.65	25.51	-5.48	36.12	14.35	-19.21	36.92	20.05	12.47
EPS Growth(%)	30.28	87.91	26.2	25.25	-4.7	33.05	14.25	-17.26	33.91	8.71	10.43
Debt/Equity(x)	1.42	0.7	0.73	0.74	0.8	0.94	0.89	0.85	0.64	0.64	0.62
Current Ratio(x)	0.92	1.24	1.14	1.13	1.07	1.05	1.01	0.93	1.05	1.08	1.12
Quick Ratio(x)	0.55	0.74	0.68	0.76	0.72	0.68	0.61	0.58	0.67	0.7	0.67
Interest Cover(x)	2.05	3.11	4.77	3.84	3.9	4.3	4.27	2.46	3.95	4.37	4.18
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0.18	0.18

Sansera Engineering Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	36.09	36.02	35.7	35.51	35.51	35.49	35.23	35.23	35.05	35.03
FII	14.58	13.96	12.98	11.4	10.32	9.94	16.36	15.02	11.06	10.45
DII	40.37	41.14	42.67	44.17	45.05	45.17	38.28	39.1	39.92	40.28
Public	8.96	8.88	8.65	8.92	9.11	9.39	10.13	10.65	13.97	14.23
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	1.88	1.88	1.88	1.88	1.88	1.88	1.88	1.88	1.88	1.88
FII	0.76	0.73	0.68	0.6	0.55	0.53	0.87	0.8	0.59	0.56
DII	2.1	2.15	2.25	2.34	2.38	2.39	2.04	2.08	2.14	2.16
Public	0.47	0.46	0.46	0.47	0.48	0.5	0.54	0.57	0.75	0.76
Others	0	0	0	0	0	0	0	0	0	0
Total	5.21	5.22	5.26	5.29	5.29	5.29	5.33	5.33	5.36	5.36

Pros

Debtor days have improved from 103.98 to 100.08days.

Cons

Promoter holding is low: 35.03%.
Company has a low return on equity of 14% over the last 3 years.
Stock is trading at 4.2 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.