BSE: 0 | NSE: ETML | Tyres & Allied |
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Emerald Tyre Manufacturers Ltd is a below average quality company.
The key valuation ratios of Emerald Tyre Manufacturers Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Emerald Tyre Manufacturers Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 9.2% | 12.3% | 17.2% | 17.8% | - |
| Value Creation Index ⓘ | -0.3 | -0.1 | 0.2 | 0.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 76.6 | 122 | 151 | 154 | 154 |
| Sales YoY Gr. | - | 59.7% | 23.4% | 1.9% | - |
| Adj EPS ⓘ | 0.7 | 3.1 | 4.8 | 7.4 | 5.7 |
| YoY Gr. | - | 358.2% | 55.1% | 54.8% | - |
| BVPS (₹) ⓘ | 26.8 | 30.9 | 37.5 | 45.5 | 59 |
| Adj Net Profit ⓘ | 0.8 | 4 | 6.3 | 10.7 | 11 |
| Cash Flow from Ops. ⓘ | -0.6 | 11.5 | 11.9 | 22.3 | - |
| Debt/CF from Ops. ⓘ | -95.7 | 5.9 | 6.6 | 3.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 26.2% | 1.9% | ||||
| Adj EPS ⓘ | NA | NA | 122.4% | 54.8% | ||||
| BVPSⓘ | NA | NA | 19.4% | 21.2% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 2.2 | 10.2 | 13.9 | 18.6 | 10.9 |
| Op. Profit Mgn % ⓘ | 15 | 12.3 | 13.6 | 18.3 | NAN |
| Net Profit Mgn % ⓘ | 1.1 | 3.3 | 4.1 | 6.9 | 7.2 |
| Debt to Equity ⓘ | 1.5 | 1.7 | 1.6 | 1.1 | - |
| Working Cap Days ⓘ | 0 | 251 | 226 | 237 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 175 | 158 | 165 | 0 |
Sales growth is growing at healthy rate in last 3 years 26.17%
Net Profit is growing at healthy rate in last 3 years 122.40%
Return on Equity has declined versus last 3 years average to 10.90%
Debt to equity has increased versus last 3 years average to 1.13
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 5.7 | 6.3 |
| TTM Sales (₹ Cr.) | 154 | 171 |
| BVPS (₹.) ⓘ | 59 | 10 |
| Reserves (₹ Cr.) ⓘ | 95 | - |
| P/BV ⓘ | 3.01 | 17.75 |
| PE ⓘ | 31.07 | 28.26 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 346 |
| Equity (₹ Cr.) | 19.5 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 30.5 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 77 | 122 | 151 | 154 |
| Operating Expenses ⓘ | 65 | 107 | 130 | 126 |
| Manufacturing Costs | 6 | 8 | 11 | 11 |
| Material Costs | 45 | 79 | 95 | 88 |
| Employee Cost | 8 | 10 | 15 | 17 |
| Other Costs ⓘ | 6 | 10 | 10 | 10 |
| Operating Profit ⓘ | 11 | 15 | 21 | 28 |
| Operating Profit Margin (%) | 15.0% | 12.3% | 13.6% | 18.3% |
| Other Income ⓘ | 1 | 1 | 4 | 1 |
| Interest ⓘ | 7 | 6 | 9 | 9 |
| Depreciation ⓘ | 4 | 3 | 4 | 5 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 2 | 6 | 12 | 15 |
| Tax ⓘ | 1 | 2 | 3 | 4 |
| Profit After Tax | 2 | 4 | 9 | 11 |
| PAT Margin (%) | 2.0% | 3.6% | 5.7% | 7.2% |
| Adjusted EPS (₹) | 0.7 | 3.2 | 6.6 | 7.7 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 13% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 39 | 41 | 49 | 66 | ||||||
| Share Capital ⓘ | 11 | 7 | 7 | 14 | ||||||
| Reserves ⓘ | 27 | 34 | 43 | 51 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 48 | 56 | 61 | 57 | ||||||
| Long Term Debt | 16 | 22 | 23 | 17 | ||||||
| Short Term Debt | 32 | 33 | 39 | 40 | ||||||
| Trade Payables | 12 | 15 | 18 | 20 | ||||||
| Others Liabilities ⓘ | 18 | 28 | 28 | 30 | ||||||
| Total Liabilities ⓘ | 116 | 139 | 156 | 173 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 76 | 81 | 100 | 114 | ||||||
| Accumulated Depreciation | 47 | 51 | 55 | 60 | ||||||
| Net Fixed Assetsⓘ | 29 | 31 | 45 | 54 | ||||||
| CWIP ⓘ | 4 | 10 | 7 | 6 | ||||||
| Investmentsⓘ | 5 | 6 | 6 | 6 | ||||||
| Inventories | 38 | 43 | 47 | 50 | ||||||
| Trade Receivables | 30 | 36 | 42 | 45 | ||||||
| Cash Equivalents | 1 | 1 | 2 | 2 | ||||||
| Others Assetsⓘ | 10 | 12 | 7 | 8 | ||||||
| Total Assets ⓘ | 116 | 139 | 156 | 173 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -1 | 11 | 12 | 22 |
| PBT ⓘ | 2 | 6 | 12 | 15 |
| Adjustment ⓘ | 10 | 9 | 9 | 14 |
| Changes in Working Capital ⓘ | -12 | -3 | -7 | -2 |
| Tax Paid ⓘ | -1 | -1 | -2 | -4 |
| Cash Flow From Investing Activity ⓘ | 0 | -12 | -15 | -14 |
| Capex | 0 | -12 | -15 | -14 |
| Net Investments | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 1 | 1 | 3 | -8 |
| Net Proceeds from Shares ⓘ | 4 | 3 | 0 | 7 |
| Net Proceeds from Borrowing ⓘ | 3 | 1 | 0 | -5 |
| Interest Paid ⓘ | -7 | -6 | -9 | -9 |
| Dividend Paid ⓘ | 0 | 0 | 0 | -1 |
| Others ⓘ | 1 | 4 | 12 | 0 |
| Net Cash Flow ⓘ | 1 | 1 | 1 | 0 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 4.65 | 11.87 | 19.34 | 19.33 | ||||||
| ROCE (%) | 9.24 | 12.25 | 17.16 | 17.82 | ||||||
| Asset Turnover Ratio | 0.66 | 0.96 | 1.02 | 0.94 | ||||||
| PAT to CFO Conversion(x) | -0.5 | 2.75 | 1.33 | 2 | Working Capital Days | |||||
| Receivable Days | 143 | 98 | 94 | 104 | ||||||
| Inventory Days | 179 | 120 | 109 | 115 | ||||||
| Payable Days | 96 | 62 | 63 | 79 | ||||||
Emerald Tyre Manufacturers Limited was incorporated on March 27, 2002, under the name and style of ‘Emrald Resilient Tyre Manufactures Private Limited’, a private limited company under the Companies Act, 1956, pursuant to a Certificate of Incorporation issued by the Registrar of Companies, Chennai at Tamil Nadu. Thereafter, the name of the company was changed from ‘Emrald Resilient Tyre Manufactures Private Limited’ to ‘Emerald Resilient Tyre Manufacturers Private Limited’ vide special resolution passed by the members at the Extra-ordinary General Meeting held on July 16, 2018.
Subsequently, the company was converted into Public Limited Company and name of company was changed from ‘Emerald Resilient Tyre Manufacturers Private Limited’ to ‘Emerald Resilient Tyre Manufacturers Limited’ pursuant to a special resolution passed by its shareholders at the Extra Ordinary General Meeting held on November 25, 2023. Thereafter, the name of the company was changed from ‘Emerald Resilient Tyre Manufacturers Limited’ to ‘Emerald Tyre Manufacturers Limited’ pursuant to a special resolution passed by its shareholders at the Extra Ordinary General Meeting held on January 11, 2024, and a fresh certificate of incorporation was issued by the Registrar of Companies, Tamil Nadu dated January 17, 2024.
Emerald Tyre Manufacturers is engaged in the business of manufacturing, supplying and services for a comprehensive range of tyres for material handling applications like forklifts, skid loaders, ground support equipment of Airports, Port trailers, agri implements, lawn and garden mowers, mining equipment, aerial work platform trucks, backhoe loaders etc. The company being incorporated in the year 2002, has a renowned presence in the Domestic market as well as Global market for more than two decades in the international market under the brand name ‘GRECKSTER’.
The company was promoted and pioneered by Chandhrasekharan Venkatachalam Thirupathi. Its Promoter has a rich engineering background with more than two decades’ experience in Manufacturing and operation of tyres. He has guided the company in expanding its operations by taking strategic directional focus towards focusing on exports, multi- size expansion, de-risking entire business by strategic product & market selection.
Business area of the company
The company is engaged in the business of manufacturing, supplying and services for a comprehensive range of tyres for material handling applications like forklifts, skid loaders, ground support equipment of Airports, Port trailers, agri implements, lawn and garden mowers, mining equipment, aerial work platform trucks, backhoe loaders etc.
Products of the company
Awards and accreditations
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