BSE: 505052 | NSE: CLUTCHAUTO | Auto Ancillary | Small Cap
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Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'07 | Mar'08 | Mar'09 | Mar'10 | Mar'11 | Mar'12 | Mar'13 | Mar'14 | Mar'15 | Mar'16 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 22.5% | 14.4% | 8.8% | 8.7% | 8.3% | 8.2% | -3.6% | -35.8% | -93.6% | -63.6% | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 235 | 217 | 197 | 230 | 251 | 245 | 95.4 | 30.6 | 38.9 | 46.5 | 47 |
| Sales YoY Gr. | - | -7.7% | -9% | 16.5% | 8.9% | -2.3% | -61% | -67.9% | 27.2% | 19.5% | - |
| Adj EPS ⓘ | 13.5 | 8.3 | 2.7 | 5 | 4.6 | 4 | -18.3 | -37.8 | -46.7 | -11.8 | -25.2 |
| YoY Gr. | - | -38.9% | -67% | 84.3% | -8.2% | -13.6% | -558.7% | NA | NA | NA | - |
| BVPS (₹) ⓘ | 59.3 | 70.5 | 73.2 | 77.8 | 80.8 | 83.6 | 65.3 | -5.6 | -101.9 | -127.1 | -105.4 |
| Adj Net Profit ⓘ | 21 | 13.5 | 4.5 | 8.4 | 8.3 | 7.5 | -34.3 | -70.9 | -87.5 | -22.1 | -47 |
| Cash Flow from Ops. ⓘ | -3 | 23.6 | 16.1 | -5.4 | 2.5 | 18.1 | -53.4 | -33.4 | 2.7 | -0.2 | - |
| Debt/CF from Ops. ⓘ | -31.2 | 4.1 | 7.8 | -33 | 78.7 | 12 | -4.2 | -9 | 108 | -1592.8 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -16.5% | -28.6% | -21.3% | 19.5% | ||||
| Adj EPS ⓘ | -198.5% | -220.6% | NA | NA | ||||
| BVPSⓘ | -208.8% | -209.5% | -224.8% | NA | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'07 | Mar'08 | Mar'09 | Mar'10 | Mar'11 | Mar'12 | Mar'13 | Mar'14 | Mar'15 | Mar'16 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 21.7 | 10.7 | 3.2 | 5.7 | 5.1 | 4.3 | -21.3 | -92.5 | 107.9 | 11.3 | 21.7 |
| Op. Profit Mgn % ⓘ | 17 | 15.9 | 14.1 | 16.4 | 17 | 18.2 | -7.6 | -71.1 | -82.2 | -3 | -3 |
| Net Profit Mgn % ⓘ | 8.9 | 6.2 | 2.3 | 3.7 | 3.3 | 3.1 | -36 | -231.6 | -224.8 | -47.5 | -101.6 |
| Debt to Equity ⓘ | 1 | 0.8 | 1.1 | 1.4 | 1.4 | 1.4 | 1.9 | -28.7 | -1.5 | -1.2 | - |
| Working Cap Days ⓘ | 190 | 240 | 270 | 268 | 296 | 317 | 793 | 2,066 | 763 | 119 | 29 |
| Cash Conv. Cycle ⓘ | 138 | 161 | 156 | 140 | 187 | 181 | 322 | 675 | 122 | -74 | -198 |
No data to display
Return on Equity has declined versus last 3 years average to %
Sales growth has been subdued in last 3 years %
Sales growth is not so good in last 4 quarters at %
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -25.2 | - |
| TTM Sales (₹ Cr.) | 46.5 | - |
| BVPS (₹.) ⓘ | -105.4 | - |
| Reserves (₹ Cr.) ⓘ | -216 | - |
| P/BV ⓘ | -0.06 | - |
| PE ⓘ | 0.00 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 6.32 / 6.32 |
| All Time Low / High (₹) | 3.10 / 195.00 |
| Market Cap (₹ Cr.) | 11.9 |
| Equity (₹ Cr.) | 18.8 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 51.2 |
| Pledged * | 91.92 | 91.27 | 0.00 | 19.24 | 11.97 | 11.97 | 21.51 | 24.82 | 41.62 | 41.62 |
| PARTICULARS | Mar'07 | Mar'08 | Mar'09 | Mar'10 | Mar'11 | Mar'12 | Mar'13 | Mar'14 | Mar'15 | Mar'16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 235.07 | 216.98 | 197.45 | 229.98 | 250.52 | 244.68 | 95.41 | 30.60 | 38.93 | 46.53 |
| Operating Expenses ⓘ | 195.22 | 182.56 | 169.65 | 192.23 | 208.04 | 200.08 | 102.65 | 52.34 | 71.84 | 47.91 |
| Manufacturing Costs | 20.84 | 19.92 | 20.06 | 24.84 | 25.32 | 23.78 | 6.09 | 1.95 | 2.03 | 1.85 |
| Material Costs | 138.46 | 130.19 | 111.11 | 130.01 | 143.66 | 141.56 | 73.14 | 42.17 | 55.63 | 36.49 |
| Employee Cost | 15.80 | 18.86 | 19.96 | 20.78 | 21.40 | 18.89 | 15.89 | 3.18 | 5.81 | 3.70 |
| Other Costs ⓘ | 20.11 | 13.59 | 18.52 | 16.60 | 17.65 | 15.86 | 7.52 | 5.04 | 8.38 | 5.87 |
| Operating Profit ⓘ | 39.85 | 34.43 | 27.80 | 37.75 | 42.49 | 44.60 | -7.24 | -21.75 | -32.91 | -1.38 |
| Operating Profit Margin (%) | 17.0% | 15.9% | 14.1% | 16.4% | 17.0% | 18.2% | -7.6% | -71.1% | -84.5% | -3.0% |
| Other Income ⓘ | 0.04 | 0.07 | 0.07 | 0.26 | 0.91 | 0.55 | 0.25 | 0 | 3.23 | 0.01 |
| Interest ⓘ | 9.52 | 12.58 | 14.48 | 14.91 | 17.55 | 21.02 | 21.37 | 21.04 | 0.01 | 0.02 |
| Depreciation ⓘ | 5.17 | 5.86 | 7.76 | 13.97 | 16.28 | 15.75 | 5.94 | 3.55 | 19.22 | 10.01 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -88.71 | -132.30 | -35.96 |
| Profit Before Tax ⓘ | 25.20 | 16.05 | 5.63 | 9.12 | 9.57 | 8.38 | -34.31 | -135.05 | -181.21 | -47.35 |
| Tax ⓘ | 4.24 | 2.58 | 1.17 | 0.73 | 0.80 | 0.57 | -0.09 | -2.08 | -0.47 | -0.09 |
| Profit After Tax | 20.96 | 13.47 | 4.46 | 8.40 | 8.77 | 7.81 | -34.22 | -132.97 | -180.74 | -47.27 |
| PAT Margin (%) | 8.9% | 6.2% | 2.3% | 3.7% | 3.5% | 3.2% | -35.9% | -434.0% | -464.0% | -101.0% |
| Adjusted EPS (₹) | 13.5 | 8.3 | 2.7 | 5.0 | 4.9 | 4.2 | -18.2 | -70.9 | -96.4 | -25.2 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'07 | Mar'08 | Mar'09 | Mar'10 | Mar'11 | Mar'12 | Mar'13 | Mar'14 | Mar'15 | Mar'16 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 114.14 | 136.95 | 141.31 | 151.45 | 166.37 | 178.23 | 143.92 | 9.35 | -171.49 | -221.11 |
| Share Capital ⓘ | 15.52 | 16.32 | 16.32 | 16.68 | 17.93 | 18.76 | 18.76 | 18.76 | 18.76 | 18.76 |
| Reserves ⓘ | 98.63 | 120.64 | 125 | 134.77 | 148.44 | 159.47 | 125.16 | -9.41 | -190.25 | -239.87 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 92.95 | 96.37 | 125.15 | 177.46 | 195.07 | 216.83 | 226.27 | 299.05 | 289.81 | 288.64 |
| Long Term Debt | 92.95 | 96.37 | 125.15 | 177.46 | 93 | 112.24 | 161.45 | 201.51 | 199.38 | 199.51 |
| Short Term Debt | 0 | 0 | 0 | 0 | 102.07 | 104.59 | 64.82 | 97.54 | 90.42 | 89.13 |
| Trade Payables | 28.03 | 33.12 | 46.15 | 48.72 | 35.02 | 22.62 | 23.57 | 8.55 | 33.26 | 11.18 |
| Others Liabilities ⓘ | 17.36 | 18.17 | 18.98 | 21.40 | 22.60 | 36.86 | 34.98 | 27.04 | 24.59 | 53.85 |
| Total Liabilities ⓘ | 252.48 | 284.61 | 331.60 | 399.03 | 419.06 | 454.54 | 428.73 | 343.98 | 176.16 | 132.57 |
Fixed Assets | ||||||||||
| Gross Block | 94.62 | 115.13 | 183.06 | 221.63 | 232.44 | 231.81 | 231.78 | 248.48 | 246.94 | 223.81 |
| Accumulated Depreciation | 37.73 | 42.75 | 49.73 | 62.60 | 78.23 | 91.02 | 97.06 | 84.09 | 102.97 | 106.92 |
| Net Fixed Assetsⓘ | 56.89 | 72.38 | 133.33 | 159.03 | 154.21 | 140.79 | 134.72 | 164.39 | 143.97 | 116.89 |
| CWIP ⓘ | 11.77 | 19.79 | 17.96 | 32.47 | 49.61 | 94.71 | 93.01 | 31.58 | 15 | 0 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 38.06 | 44.68 | 46.31 | 55.62 | 63.74 | 66.34 | 57.61 | 37.15 | 7.68 | 4.55 |
| Trade Receivables | 105.87 | 100.52 | 96.74 | 107.97 | 123.86 | 54.99 | 32.35 | 0.45 | 4.71 | 3.38 |
| Cash Equivalents | 28.49 | 34.56 | 12.53 | 10.81 | 5.27 | 3.97 | 1.53 | 1.12 | 1.33 | 1.23 |
| Others Assetsⓘ | 11.40 | 12.69 | 24.72 | 33.15 | 22.36 | 93.73 | 109.51 | 109.29 | 3.46 | 6.52 |
| Total Assets ⓘ | 252.48 | 284.61 | 331.60 | 399.03 | 419.06 | 454.54 | 428.73 | 343.98 | 176.16 | 132.57 |
| PARTICULARS | Mar'07 | Mar'08 | Mar'09 | Mar'10 | Mar'11 | Mar'12 | Mar'13 | Mar'14 | Mar'15 | Mar'16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -2.98 | 23.61 | 16.14 | -5.39 | 2.48 | 18.10 | -53.38 | -33.40 | 2.68 | -0.18 |
| PBT ⓘ | 25.20 | 16.05 | 5.63 | 9.12 | 9.57 | 8.38 | -34.31 | -46.33 | -48.92 | -11.40 |
| Adjustment ⓘ | 15.31 | 17.37 | 21.22 | 27.37 | 32.66 | 35.40 | 26.55 | -30.84 | -95.59 | 3.60 |
| Changes in Working Capital ⓘ | -27.24 | 1.72 | 4.77 | -26.11 | -23.28 | -4.42 | -25.01 | 61.43 | 148.09 | 7.63 |
| Tax Paid ⓘ | -7.35 | -0.03 | -2.01 | -2.25 | -0.02 | -1.54 | 0 | 2.95 | -0.89 | 0 |
| Cash Flow From Investing Activity ⓘ | -18.03 | -29.41 | -66.91 | -54.08 | -28.63 | -47.45 | -1.73 | -7.10 | 0.20 | -0.05 |
| Capex | -18.06 | -29.47 | -66.98 | -54.28 | -28.70 | -47.53 | -0.03 | -7.10 | 0.20 | -0.05 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0.02 | 0.06 | 0.07 | 0.19 | 0.07 | 0.07 | -1.70 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 40.82 | 11.86 | 28.78 | 57.71 | 20.61 | 28.05 | 52.68 | 40.09 | -2.67 | 0.13 |
| Net Proceeds from Shares ⓘ | 15.15 | 8.44 | 0 | 1.84 | 6.25 | 4.14 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 25.67 | 3.41 | 28.78 | 55.87 | 14.37 | 23.91 | 52.68 | 40.09 | -2.67 | 0.13 |
| Net Cash Flow ⓘ | 19.81 | 6.06 | -21.99 | -1.76 | -5.53 | -1.31 | -2.44 | -0.41 | 0.21 | -0.10 |
| PARTICULARS | Mar'07 | Mar'08 | Mar'09 | Mar'10 | Mar'11 | Mar'12 | Mar'13 | Mar'14 | Mar'15 | Mar'16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 29.15 | 13.02 | 3.8 | 6.74 | 6.39 | 5.18 | -24.5 | -237.2 | N/A | N/A |
| ROCE (%) | 22.49 | 14.41 | 8.82 | 8.65 | 8.32 | 8.23 | -3.58 | -35.77 | N/A | N/A |
| Asset Turnover Ratio | 1.19 | 0.89 | 0.71 | 0.68 | 0.61 | 0.56 | 0.22 | 0.08 | 0.15 | 0.3 |
| PAT to CFO Conversion(x) | -0.14 | 1.75 | 3.62 | -0.64 | 0.28 | 2.32 | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 129 | 158 | 164 | 151 | 169 | 133 | 167 | 196 | 24 | 32 |
| Inventory Days | 50 | 63 | 76 | 75 | 87 | 97 | 237 | 565 | 210 | 48 |
| Payable Days | 58 | 86 | 130 | 133 | 106 | 74 | 115 | 139 | 137 | 222 |
Clutch Auto was founded way back in 1971 and now it is India’s largest clutch manufacturer & exporter. Clutch Auto Ltd (CAL) is the largest supplier of clutches to the commercial vehicle and tractor segment in India. It also caters to the passenger vehicle and replacement demand
The company is India’s largest clutch manufacturer & exporter has held 3 Decades of undisputed Leadership
The company is also India’s largest exporter of clutches and exports to 40 countries, 85% to Americas.The company is having largest aftermarket distribution network in India and has state-of-the-art testing facility for Clutches. The company is having Govt. of India recognized Research &development facility.
Clutch Auto Ltd (CAL) is the largest supplier of clutches to the commercial vehicle and tractor segment in India. It also caters to the passenger vehicle and replacement demand and its clientele includes Tata Motors, Ashok Leyland, Maruti Udyog, TAFE, Toyota, BEML, Escort Tractors and StateTransport Undertakings, among others.
Clutch is a technology intensive business dominated by 6 players in the world, all operating either as joint ventures or as technology partners or license arrangements. CAL is the only standalone clutch company in the world, which is testimony to its technology capability.
The company has developed, upgraded and upsized Ceramic and Cushioned Organic Clutches with Retrofittability on old models of the popular trucks and buses, carving a new market segment with a long term aftermarket potential besides fitment on current ongoing production.Peculiarities of Indian operating conditions both in case of passenger carriers and commercial vehicles and driving habits have been taken into consideration and performance demonstrated after simulation and evaluation of modified Designs based on the valuable field data.
The ‘Cool Clutch’ developed for the US market alongwith Wear Indication capability – the ‘Whisper’ series and ‘Ez N Lite’ – Twin Ceramic Self-Aligning clutch for heavy applications have been offered to the Indiancustomers.
The company has ventured into the US truck market through the aftermarket route making it the only offshore company to be able to do so. It plans to be a niche player in the low volume, high value added heavy-duty clutch segment for class 7 and 8 trucks. This is because, the replacement demand for trucks in US, with a population of nearly 4.5-5mn units, is nearly as high (250,000 units pa) asthe demand for new trucks.
CAL invested in technology, research and filed for patents and trademarks for a number of products that it developed. Today, the company is the only independent component company from India with an independent patents and trademarks portfolio. It has built many innovative products like the ‘Cool Clutch’,’ Whisper’ and ‘EZ N Lite’ offering interchangeability unit-to-unit, component-to component with the same serviceability norms and tools.
The company’s clientele includes Tata Motors, Ashok, Leyland, Maruti Udyog, TAFE, Toyota, BEML, Escort Tractors and state transport undertakings, among others.
Awards/ Achievements
Apart from these the company is a recipient of many prestigious national awards.
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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.
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