Is Bharat Seats a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Bharat Seats Ltd is a average quality company .

Is Bharat Seats undervalued or overvalued?

The key valuation ratios of Bharat Seats Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is Bharat Seats share price return in the past 10 years?

Bharat Seats Ltd share price has appreciated 22.3% annually (CAGR) over the past ten years.

Is Bharat Seats a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Bharat Seats Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

Bharat Seats Ltd - Stock Valuation and Financial Performance

Name: Bharat Seats
Brand: Bharat Seats

BSE: 523229 | NSE: | Auto Ancillary | Small Cap

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Bharat Seats Share Price

₹214.95 8.05 3.89%
as on 05-Nov'24 00:00

10 Year X-Ray of Bharat Seats:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	12.5%	11.4%	16.8%	39.4%	27.9%	11%	7.4%	12.6%	18%	17.9%	-
Value Creation Index ⓘ	-0.1	-0.2	0.2	1.8	1.0	-0.2	-0.5	-0.1	0.3	0.3	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	693	700	840	970	904	589	548	818	1,051	1,067	1,113
Sales YoY Gr.	-	0.9%	20.1%	15.5%	-6.9%	-34.9%	-7%	49.3%	28.6%	1.5%	-
Adj EPS ⓘ	2.5	2.4	3.9	9.1	7	4	1.4	3.8	6.9	8	8.6
YoY Gr.	-	-6.7%	66.2%	130.5%	-23.2%	-42.5%	-64.1%	163.2%	81%	16.2%	-
BVPS (₹) ⓘ	14.7	17	19.8	27.6	33.3	36.1	37.1	40.5	46.6	53.1	55.2
Adj Net Profit ⓘ	8	7.5	12.4	28.5	21.9	12.6	4.5	11.9	21.6	25	27
Cash Flow from Ops. ⓘ	35.7	34.4	38.5	68.5	34.7	27.7	18.8	15.6	42.5	56.7	-
Debt/CF from Ops. ⓘ	2.6	2.2	1.6	0.4	0.8	1.2	1.8	2.4	1.4	1.6	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	4.9%	3.4%	24.9%	1.5%
Adj EPS ⓘ	13.6%	2.7%	76.9%	16.2%
BVPSⓘ	15.3%	9.8%	12.7%	14%
Share Price	22.3%	25.1%	42.1%	64.9%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	18.2	14.9	21.4	38.3	22.9	11.6	3.9	9.8	15.8	16	15.9
Op. Profit Mgn % ⓘ	4.6	4.3	4.4	6.7	5.6	6.1	4.9	3.9	4.4	5.7	5.9
Net Profit Mgn % ⓘ	1.2	1.1	1.5	2.9	2.4	2.1	0.8	1.5	2.1	2.4	2.4
Debt to Equity ⓘ	2	1.4	1	0.3	0.3	0.3	0.3	0.3	0.4	0.5	-
Working Cap Days ⓘ	50	50	43	45	49	55	67	70	57	56	25
Cash Conv. Cycle ⓘ	-8	-9	-11	-13	-13	-15	-10	4	5	-2	-6

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 15.90%

Sales growth is growing at healthy rate in last 3 years 24.89%

Net Profit is growing at healthy rate in last 3 years 76.89%

Sales growth is not so good in last 4 quarters at 6.36%

Latest Financials - Bharat Seats Ltd.

	Standalone	Consolidated
TTM EPS (₹)	8.6	-
TTM Sales (₹ Cr.)	1,113	-
BVPS (₹.) ⓘ	55.2	-
Reserves (₹ Cr.) ⓘ	167	-
P/BV ⓘ	3.75	-
PE ⓘ	24.07	-

From the Market
52 Week Low / High (₹)	125.65 / 240.00
All Time Low / High (₹)	0.90 / 273.90
Market Cap (₹ Cr.)	650
Equity (₹ Cr.)	6.3
Face Value (₹)	2
Industry PE ⓘ	53.8

Management X-Ray of Bharat Seats:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Bharat Seats

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Price Chart

Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Bharat Seats

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	693	700	840	970	904	589	548	818	1,051	1,067
Operating Expenses ⓘ	661	670	803	906	854	553	521	785	1,005	1,006
Manufacturing Costs	32	33	34	42	56	43	37	35	44	48
Material Costs	603	607	735	822	746	461	446	699	901	888
Employee Cost	14	17	21	25	31	32	24	36	41	45
Other Costs ⓘ	12	14	14	17	20	17	13	16	19	25
Operating Profit ⓘ	32	30	37	65	50	36	27	32	46	61
Operating Profit Margin (%)	4.6%	4.2%	4.4%	6.7%	5.5%	6.1%	4.9%	3.9%	4.4%	5.7%
Other Income ⓘ	2	2	1	1	5	2	2	5	4	5
Interest ⓘ	6	5	4	3	3	3	4	4	4	8
Depreciation ⓘ	16	17	17	19	21	22	18	18	17	24
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	11	10	17	44	31	12	7	16	30	34
Tax ⓘ	3	3	5	15	10	0	2	4	8	9
Profit After Tax	8	7	12	28	21	13	5	12	22	25
PAT Margin (%)	1.2%	1.0%	1.4%	2.9%	2.4%	2.1%	0.9%	1.5%	2.1%	2.3%
Adjusted EPS (₹)	2.6	2.3	3.9	9.0	6.8	4.0	1.5	3.8	6.9	8.0
Dividend Payout Ratio (%)	35%	39%	23%	11%	15%	13%	33%	21%	20%	20%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	46	53	62	87	105	113	117	127	146	167
Share Capital ⓘ	6	6	6	6	6	6	6	6	6	6
Reserves ⓘ	40	47	56	80	98	107	110	121	140	161
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	68	54	50	23	26	32	30	37	60	83
Long Term Debt	38	22	20	22	20	24	25	33	33	53
Short Term Debt	30	32	31	1	6	8	5	5	27	30
Trade Payables	92	100	123	149	120	72	121	130	118	147
Others Liabilities ⓘ	61	45	29	25	22	24	24	43	33	108
Total Liabilities ⓘ	267	252	265	285	273	242	291	337	358	505
Fixed Assets
Gross Block	233	244	261	263	296	317	304	340	400	501
Accumulated Depreciation	83	99	115	127	144	166	178	193	201	225
Net Fixed Assetsⓘ	150	144	146	136	152	150	126	147	199	276
CWIP ⓘ	3	1	0	13	0	22	30	8	12	49
Investmentsⓘ	0	0	0	0	0	0	0	0	0	0
Inventories	12	14	15	27	22	21	30	53	29	40
Trade Receivables	77	83	94	94	78	36	83	111	97	103
Cash Equivalents	1	1	1	3	10	1	1	1	1	0
Others Assetsⓘ	25	9	8	11	11	11	22	17	20	37
Total Assets ⓘ	267	252	265	285	273	242	291	337	358	505

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	36	34	38	69	35	28	19	16	43	57
PBT ⓘ	11	10	17	44	31	12	7	16	30	34
Adjustment ⓘ	23	22	22	23	20	25	21	17	19	30
Changes in Working Capital ⓘ	4	4	3	16	-7	-4	-7	-15	10	5
Tax Paid ⓘ	-2	-2	-3	-14	-10	-6	-3	-3	-16	-12
Cash Flow From Investing Activity ⓘ	-13	-6	-17	-23	-24	-34	-12	-15	-59	-73
Capex	-13	-6	-17	-23	-25	-34	-12	-15	-59	-73
Net Investments	0	0	0	0	0	0	0	-1	0	0
Others ⓘ	0	0	0	0	0	0	0	1	0	0
Cash Flow From Financing Activityⓘ	-23	-28	-22	-44	-4	-3	-7	-2	17	16
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-14	-21	-13	-7	-2	4	2	4	0	26
Interest Paid ⓘ	-6	-5	-4	-3	-3	-3	-4	-4	-3	-7
Dividend Paid ⓘ	-3	-3	-3	-3	-3	-4	-2	-2	-3	-4
Others ⓘ	0	1	-1	-30	5	1	-3	-1	23	1
Net Cash Flow ⓘ	0	0	0	2	7	-9	0	-1	0	0

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	18.46	14.47	21.06	37.9	22.39	11.49	4.18	9.77	15.76	16
ROCE (%)	12.49	11.43	16.81	39.42	27.92	11.02	7.35	12.61	17.95	17.91
Asset Turnover Ratio	2.99	3.05	3.67	3.65	3.24	2.29	2.05	2.6	3.03	2.47
PAT to CFO Conversion(x)	4.5	4.86	3.17	2.46	1.67	2.15	3.8	1.33	1.95	2.28
Working Capital Days
Receivable Days	33	37	34	34	35	35	40	43	36	34
Inventory Days	5	6	6	8	10	13	17	18	14	12
Payable Days	51	58	55	60	66	76	79	66	50	55

Bharat Seats Ltd Stock News

Bharat Seats Ltd FAQs

What is the share price of Bharat Seats?

Company share prices are keep on changing according to the market conditions. The closing price of Bharat Seats on 05-Nov-2024 00:00 is ₹214.9.

What is the market cap of Bharat Seats?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 05-Nov-2024 00:00 the market cap of Bharat Seats stood at ₹649.7.

What is the P/E ratio of Bharat Seats?

The latest P/E ratio of Bharat Seats as of 05-Nov-2024 00:00 is 24.07.

What is the P/B ratio of Bharat Seats?

The latest P/B ratio of Bharat Seats as of 05-Nov-2024 00:00 is 3.75.

What is the 52-week high and low of Bharat Seats?

The 52-week high of Bharat Seats is ₹240.0 and the 52-week low is ₹125.7.

What is the TTM revenue of Bharat Seats?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bharat Seats is ₹1,113 ( Cr.) .

About Bharat Seats Ltd

Bharat Seats (BSL) incorporated in 1986, is a joint venture of Suzuki Motor Corporation, Japan, Maruti Suzuki India and the Relans. The company is in the business of manufacturing complete seating systems and interior components for the automotive and surface transport.

Company has received technical guidance by Houwa Kogyo Co., a leading producer of hi-tech seating system for the automobile industry in Japan, and the main suppliers to Suzuki Motor Corporation.

The factory in Gurgaon houses Polyurethane moulding, seat frame manufacture, final seat assembly and head rest moulding and assembly.

Bharat Seats has set up a manufacturing unit for PU Headrests within its existing plant with a capacity to produce 4 lakh sets per annum. It started commercial production of headrest of international standards of quality commenced in May 1999.

BSL had phased out the use of CFC-11(Cholorofluorocarbons), used as a foam-blowing agent for polyol formation in the manufacturing of moulded Puf cushions.

The company also operates research & development centre which handles projects from the concept stage through modelling, designing prototyping to testing and validation for the final product. The centre has received approval from Ministry of Science and Technology Department of Scientific and Industrial Research.

Products

Four wheeler seating system
Two wheeler seating system
Moulded carpets
Two wheeler frames and sheet metal components
Railway seats and berth
Two wheeler main frame

Milestone

1986- Bharat Seats was established as seating system supplier to Maruti
1988- Company installed PU seat pad moulding line
1999- BSL installed Headrestraint PU pad moulding line installed
2000- Company started Suzuki production system techniques and TPM
2002- BSL installed PU Seat Pad Robotic line
2004- Bharat Seats accredited in-house its testing laboratory
2005- It installed an automated carpet moulding line
2006 - Company started production of two wheeler seating systems for Suzuki motorcycles
2007 - BSL bagged TPM award from JIPM, Japan and two wheeler sheet metal components and frames was introduced
2008- Bharat Seats started supplying seating systems to Indian Railways
2009- Company executed capacity expansion by setting third PU moulding line.

Award/Recognition

BSL has already received the ISO 9002 and QS 9000 revised version quality systems certification.