Stocks - Q : Quality | V : Valuation | PT : Price Trend
Funds - P : Performance | Q : Quality
Funds - P : Performance | Q : Quality
Past 10 year's financial track record analysis by Moneyworks4me indicates that Schaeffler India Ltd is a good quality company.
The key valuation ratios of Schaeffler India Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Schaeffler India Ltd is likely to Rise-somewhat 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.
Value Creation Index Colour Code Guide ⓘ
| Dec'15 | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 24.8% | 21.8% | 31% | 24.8% | 18.8% | 13.2% | 25% | 29.8% | 27% | 25.9% | - |
| Value Creation Index ⓘ | 0.8 | 0.6 | 1.3 | 0.8 | 0.4 | 0.0 | 1.2 | 1.7 | 1.4 | 1.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 1,724 | 1,796 | 3,933 | 4,562 | 4,361 | 3,762 | 5,561 | 6,867 | 7,226 | 8,076 | 8,076 |
| Sales YoY Gr. | - | 4.2% | 119% | 16% | -4.4% | -13.7% | 47.8% | 23.5% | 5.2% | 11.8% | - |
| Adj EPS ⓘ | 27.3 | 23.4 | 48.2 | 28.8 | 24.7 | 19 | 40.5 | 55.7 | 58.4 | 62.5 | 62.6 |
| YoY Gr. | - | -14.3% | 106.1% | -40.2% | -14.3% | -22.9% | 112.9% | 37.4% | 4.9% | 7% | - |
| BVPS (₹) ⓘ | 154.9 | 177.5 | 278 | 173.1 | 189.5 | 200.9 | 233.8 | 274.2 | 308.1 | 344.4 | 344.4 |
| Adj Net Profit ⓘ | 227 | 194 | 401 | 451 | 386 | 298 | 633 | 870 | 913 | 976 | 978 |
| Cash Flow from Ops. ⓘ | 182 | 193 | 401 | 238 | 510 | 649 | 465 | 751 | 900 | 884 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0.2 | 0.2 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 18.7% | 13.1% | 13.3% | 11.8% | ||||
| Adj EPS ⓘ | 9.6% | 20.4% | 15.5% | 7% | ||||
| BVPSⓘ | 9.3% | 12.7% | 13.8% | 11.8% | ||||
| Share Price | 14.6% | 36.9% | 17% | -2.2% | ||||
Performance Ratio Colour Code Guide ⓘ
| Dec'15 | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 18.9 | 14.1 | 21.1 | 17.9 | 13.6 | 9.8 | 18.7 | 21.9 | 20.1 | 19.1 | 18.2 |
| Op. Profit Mgn % ⓘ | 20.2 | 16.7 | 17.6 | 15.3 | 15.1 | 14.5 | 17.6 | 18.9 | 18.4 | 18.2 | 18.2 |
| Net Profit Mgn % ⓘ | 13.2 | 10.8 | 10.2 | 9.9 | 8.9 | 7.9 | 11.4 | 12.7 | 12.6 | 12.1 | 12.1 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 146 | 149 | 101 | 137 | 154 | 169 | 137 | 142 | 147 | 141 | 91 |
| Cash Conv. Cycle ⓘ | 42 | 48 | 33 | 52 | 62 | 60 | 43 | 44 | 50 | 55 | 57 |
Sales growth is growing at healthy rate in last 3 years 13.25%
Net Profit is growing at healthy rate in last 3 years 15.50%
Sales growth is good in last 4 quarters at 11.72%
Return on Equity has declined versus last 3 years average to 18.20%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 62.6 | 60.1 |
| TTM Sales (₹ Cr.) | 8,076 | 8,232 |
| BVPS (₹.) ⓘ | 344.4 | 341.3 |
| Reserves (₹ Cr.) ⓘ | 5,352 | 5,303 |
| P/BV ⓘ | 9.59 | 9.68 |
| PE ⓘ | 52.82 | 55.01 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 2836.55 / 4950.00 |
| All Time Low / High (₹) | 4.60 / 4950.00 |
| Market Cap (₹ Cr.) | 51,644 |
| Equity (₹ Cr.) | 31.3 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 44.1 |
| Mar'24 | YoY Gr. Rt. % | Jun'24 | YoY Gr. Rt. % | Sep'24 | YoY Gr. Rt. % | Dec'24 | YoY Gr. Rt. % | |
|---|---|---|---|---|---|---|---|---|
| Sales (₹ Cr.)ⓘ | 1,456 | 141.7 | 1,503 | 73.2 | 1,765 | 67.6 | 1,231 | 10.9 |
| Adj EPS (₹) ⓘ | 8.7 | 474.2 | 8.7 | 79.2 | 9.9 | 90 | 4.8 | -24.3 |
| Op. Profit Mgn % ⓘ | 52.97 | 2012 bps | 53.76 | 812 bps | 55.37 | 896 bps | 45.83 | -763 bps |
| Net Profit Mgn % ⓘ | 34.94 | 2058 bps | 34.17 | 170 bps | 33.28 | 442 bps | 23.38 | -1029 bps |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Industry growth outlook
Domestic bearings industry grew from `87.5bn in CY14 to `92.5bn in CY15, while FAG maintained its market share at 16% (consistent over last 4 years). Management expects growth over next few years to be driven by a) automotive (stricter emission norms, improving safety standards, reduction in weight), and b) industrial (government led spending in railways, renewable energy).
Management strategy
FAG maintained its longâ??term strategy of investing in qualitative growth. Besides strengthening its engineering competence, the company is also expanding its manufacturing footprint. We are impressed with the localisation initiatives (of industrial bearings) at the new Savli plant. The Board is convinced that the company will benefit from investments made in plant and technology when the economy resumes the growth track and the belowâ??mentioned
Positives/Hits
1) Government of India announced implementation of key projects to improve rail infrastructure in the country.
2) Developments in renewable energy have been positive, though India still has significantly higher potential compared to current level of production in this sector.
3) Exports business posted moderate growth.
Negatives
1. Index of Industrial production was 3â??4% during CY15. Sectors closely related to FAG's business such as agricultural equipment, for example, showed a strongly negative trend.
2. Unfavourable developments in rural markets were also reflected in flat demand growth from 2â??wheeler industry.
3. Infrastructure development remained at moderate level.
4. Lower level of capacity utilisation in user industries impacted growth in aftermarket demand.
5. Slowdown in global economy, especially Chinese, forced many global competitors to intensify their Indian business activities, leading to tough competition in local markets.
| Company Name | CMP(₹) | |||||||
|---|---|---|---|---|---|---|---|---|
| Schaeffler India | 3,200.1 | -104 (-3.2%) | Mid Cap | 8,076 | 62.6 | 12.1 | 52.8 | 9.6 |
| PARTICULARS | Dec'15 | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,724 | 1,796 | 3,933 | 4,562 | 4,361 | 3,762 | 5,561 | 6,867 | 7,226 | 8,076 |
| Operating Expenses ⓘ | 1,419 | 1,499 | 3,254 | 3,865 | 3,726 | 3,225 | 4,588 | 5,572 | 5,899 | 6,608 |
| Manufacturing Costs | 142 | 168 | 355 | 414 | 397 | 353 | 505 | 611 | 642 | 732 |
| Material Costs | 993 | 1,084 | 2,374 | 2,874 | 2,750 | 2,333 | 3,462 | 4,252 | 4,479 | 5,010 |
| Employee Cost | 132 | 149 | 299 | 318 | 345 | 354 | 395 | 431 | 458 | 523 |
| Other Costs ⓘ | 152 | 97 | 227 | 259 | 234 | 186 | 225 | 278 | 320 | 343 |
| Operating Profit ⓘ | 306 | 297 | 679 | 697 | 634 | 537 | 973 | 1,296 | 1,327 | 1,468 |
| Operating Profit Margin (%) | 17.7% | 16.6% | 17.3% | 15.3% | 14.5% | 14.3% | 17.5% | 18.9% | 18.4% | 18.2% |
| Other Income ⓘ | 56 | 68 | 64 | 134 | 64 | 60 | 72 | 78 | 125 | 122 |
| Interest ⓘ | 3 | 2 | 11 | 8 | 4 | 6 | 5 | 5 | 5 | 4 |
| Depreciation ⓘ | 66 | 64 | 138 | 149 | 159 | 194 | 197 | 206 | 219 | 269 |
| Exceptional Items ⓘ | 0 | 0 | -5 | -43 | 0 | 0 | 0 | 15 | -5 | 0 |
| Profit Before Tax ⓘ | 294 | 299 | 589 | 632 | 534 | 397 | 843 | 1,177 | 1,224 | 1,317 |
| Tax ⓘ | 96 | 104 | 200 | 212 | 167 | 106 | 214 | 298 | 315 | 340 |
| Profit After Tax | 197 | 195 | 388 | 420 | 368 | 291 | 629 | 879 | 909 | 978 |
| PAT Margin (%) | 11.5% | 10.9% | 9.9% | 9.2% | 8.4% | 7.7% | 11.3% | 12.8% | 12.6% | 12.1% |
| Adjusted EPS (₹) | 23.8 | 23.5 | 46.8 | 26.9 | 23.5 | 18.6 | 40.3 | 56.3 | 58.2 | 62.6 |
| Dividend Payout Ratio (%) | 8% | 10% | 7% | 22% | 30% | 41% | 40% | 43% | 45% | 45% |
| PARTICULARS | Dec'15 | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 1,289 | 1,475 | 2,311 | 2,706 | 2,962 | 3,140 | 3,654 | 4,286 | 4,815 | 5,383 |
| Share Capital ⓘ | 17 | 17 | 17 | 31 | 31 | 31 | 31 | 31 | 31 | 31 |
| Reserves ⓘ | 1,273 | 1,459 | 2,294 | 2,675 | 2,931 | 3,109 | 3,622 | 4,255 | 4,784 | 5,352 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 0 | 69 | 58 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long Term Debt | 0 | 0 | 57 | 5 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 0 | 0 | 12 | 53 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 240 | 271 | 594 | 788 | 499 | 769 | 965 | 1,112 | 1,051 | 1,119 |
| Others Liabilities ⓘ | 126 | 105 | 190 | 183 | 160 | 304 | 391 | 513 | 586 | 591 |
| Total Liabilities ⓘ | 1,655 | 1,851 | 3,164 | 3,735 | 3,622 | 4,213 | 5,010 | 5,910 | 6,453 | 7,093 |
Fixed Assets | ||||||||||
| Gross Block | 785 | 450 | 943 | 1,078 | 1,400 | 1,704 | 1,954 | 2,170 | 2,544 | 3,318 |
| Accumulated Depreciation | 440 | 64 | 199 | 347 | 505 | 699 | 884 | 1,047 | 1,264 | 1,514 |
| Net Fixed Assetsⓘ | 346 | 386 | 744 | 731 | 895 | 1,006 | 1,070 | 1,123 | 1,280 | 1,805 |
| CWIP ⓘ | 52 | 24 | 53 | 162 | 166 | 160 | 89 | 249 | 491 | 449 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 142 | 142 |
| Inventories | 220 | 274 | 601 | 910 | 720 | 714 | 1,086 | 1,243 | 1,311 | 1,454 |
| Trade Receivables | 336 | 326 | 640 | 751 | 632 | 692 | 846 | 1,032 | 1,049 | 1,274 |
Cash Equivalents  ⓘ
| 470 | 641 | 894 | 848 | 835 | 1,246 | 1,416 | 1,555 | 1,585 | 1,349 |
| Others Assetsⓘ | 231 | 200 | 231 | 333 | 373 | 395 | 502 | 708 | 594 | 619 |
| Total Assets ⓘ | 1,655 | 1,851 | 3,164 | 3,735 | 3,622 | 4,213 | 5,010 | 5,910 | 6,453 | 7,093 |
| PARTICULARS | Dec'15 | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 182 | 193 | 401 | 238 | 510 | 649 | 465 | 751 | 900 | 884 |
| PBT ⓘ | 294 | 299 | 589 | 632 | 534 | 397 | 843 | 1,177 | 1,224 | 1,317 |
| Adjustment ⓘ | 10 | 18 | 103 | 88 | 116 | 139 | 139 | 133 | 119 | 179 |
| Changes in Working Capital ⓘ | -9 | -12 | -86 | -253 | 23 | 252 | -328 | -246 | -145 | -298 |
| Tax Paid ⓘ | -112 | -112 | -204 | -229 | -163 | -138 | -190 | -314 | -297 | -314 |
| Cash Flow From Investing Activity ⓘ | -222 | -139 | -305 | -184 | -366 | -432 | -342 | -535 | -611 | -71 |
| Capex | -58 | -93 | -134 | -244 | -320 | -238 | -183 | -479 | -519 | -741 |
| Net Investments | -200 | -138 | -210 | -2 | -103 | -253 | -213 | -168 | -167 | 630 |
| Others ⓘ | 35 | 92 | 39 | 62 | 57 | 58 | 54 | 112 | 74 | 39 |
| Cash Flow From Financing Activityⓘ | -17 | -22 | -88 | -52 | -171 | -122 | -127 | -257 | -386 | -419 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -2 | -2 | -10 | -7 | -3 | -5 | 0 | -4 | -4 | -4 |
| Dividend Paid ⓘ | -12 | -17 | -20 | -28 | -94 | -109 | -119 | -250 | -375 | -406 |
| Others ⓘ | -3 | -3 | -58 | -17 | -73 | -7 | -8 | -3 | -6 | -9 |
| Net Cash Flow ⓘ | -57 | 32 | 8 | 2 | -27 | 95 | -4 | -41 | -97 | 394 |
| PARTICULARS | Dec'15 | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 16.51 | 14.12 | 20.52 | 16.74 | 12.97 | 9.54 | 18.52 | 22.15 | 19.98 | 19.17 |
| ROCE (%) | 24.78 | 21.83 | 31.03 | 24.79 | 18.82 | 13.21 | 24.96 | 29.78 | 26.99 | 25.91 |
| Asset Turnover Ratio | 1.21 | 1.11 | 1.63 | 1.34 | 1.2 | 0.97 | 1.22 | 1.27 | 1.18 | 1.21 |
| PAT to CFO Conversion(x) | 0.92 | 0.99 | 1.03 | 0.57 | 1.39 | 2.23 | 0.74 | 0.85 | 0.99 | 0.9 |
| Working Capital Days | ||||||||||
| Receivable Days | 61 | 62 | 43 | 55 | 57 | 63 | 50 | 49 | 52 | 52 |
| Inventory Days | 40 | 46 | 39 | 60 | 67 | 69 | 58 | 61 | 64 | 62 |
| Payable Days | 84 | 86 | 66 | 88 | 85 | 99 | 91 | 89 | 88 | 79 |
Schaeffler India encompasses the Indian operations of Schaeffler Group. The post-merger combined entity offers a vast and diversified mix of products to its automotive and industrial customers. Schaeffler India manufactures these products across its four state-of-the-art facilities in India. The Company also has two dedicated R&D facilities in India that roll out innovative products for the Indian market. Through its thriving after-market network, the Company serves its customers across both the automotive and industrial segments. The company also provides best-in-class training services to important groups such as garages and fleet workshops under the automotive aftermarket and industrial distribution segments. The Company enjoys a prominent position in all its business segments. It has a balanced revenue mix between its automotive and industrial businesses.
Established in 1946, Schaeffler Group is a global automotive and industrial supplier. It manufactures high-precision components and systems for engine, transmission and chassis applications in the automotive segment. The Group also produces rolling and plain bearing solutions for a variety of industrial applications.
The Group owns majority stake in Schaeffler India. With effect from 2018, INA Bearings India Private Limited and LuK India Private Limited merged with Schaeffler India Limited (erstwhile FAG Bearings India Limited). The objective of the merger was to consolidate the Group’s India businesses and optimise the potential of the merged entity. Schaeffler AG, the Group’s flagship company, is a publicly listed stock corporation incorporated under the German law, with its registered office in Herzogenaurach.
Business area of the company
Schaeffler is actively engaged in innovating and shaping the global pace of change. With innovative technologies, products, and services for CO2-efficient drives, electric mobility, Industry 4.0, digitalization, and renewable energies, the company is a reliable partner for making motion and mobility more efficient, intelligent, and sustainable.
Products & solutions
Automotive OEM:
Industrial:
Automotive Aftermarket Replacement parts for:
Awards
Milestones
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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