Is JTEKT India a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that JTEKT India Ltd is a good quality company .

Is JTEKT India undervalued or overvalued?

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

What is JTEKT India share price return in the past 10 years?

JTEKT India Ltd share price has appreciated 11.4% annually (CAGR) over the past ten years.

Is JTEKT India a good buy now?

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

JTEKT India Ltd - Stock Valuation and Financial Performance

Name: JTEKT India
Brand: JTEKT India

BSE: 520057 | NSE: JTEKTINDIA | Auto Ancillary | Small Cap

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JTEKT India Share Price

₹158.40 1.65 1.05%
as on 22-Nov'24 16:59

10 Year X-Ray of JTEKT India:

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 ^P

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'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
ROCE % ⓘ	22.7%	18.5%	17.5%	11.4%	17.6%	17.6%	7.3%	3.8%	8.9%	16.3%	-
Value Creation Index ⓘ	0.6	0.3	0.3	-0.2	0.3	0.3	-0.5	-0.7	-0.4	0.2	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	1,492	1,553	1,518	1,211	1,519	1,754	1,511	1,333	1,589	2,044	2,063
Sales YoY Gr.	-	4.1%	-2.2%	-20.2%	25.4%	15.5%	-13.9%	-11.8%	19.2%	28.7%	-
Adj EPS ⓘ	2.2	1.9	1.6	2	3.2	3	1.3	0.4	1.4	3.3	3.3
YoY Gr.	-	-14.8%	-17.9%	26.9%	60.6%	-6.9%	-56.4%	-65.9%	227.3%	130.6%	-
BVPS (₹) ⓘ	15.5	16.3	17.5	19.3	27.4	24.3	24.4	24.5	25.8	28.8	28.9
Adj Net Profit ⓘ	44.3	37.7	31	39.3	63.3	72.4	31.6	10.7	35.2	81.1	84
Cash Flow from Ops. ⓘ	163	199	131	162	178	184	125	91.3	108	95.2	-
Debt/CF from Ops. ⓘ	2.1	1.5	2.3	1.5	1.3	1	0.6	0.5	0.6	0.6	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	3.6%	6.1%	10.6%	28.7%
Adj EPS ⓘ	4.5%	0.9%	37%	130.6%
BVPSⓘ	7.1%	1%	5.7%	11.3%
Share Price	11.4%	13.1%	19%	14.5%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
Return on Equity % ⓘ	15.5	11.9	9.2	10.8	13.7	12.7	5.3	1.8	5.7	12.2	11.4
Op. Profit Mgn % ⓘ	12.2	13.9	12.9	12.3	14	12.6	9.2	7.7	8	9.1	NAN
Net Profit Mgn % ⓘ	4.2	3.8	3.2	2.9	4.3	4.4	2.4	1	2.5	4.3	4.1
Debt to Equity ⓘ	1.1	0.9	0.9	0.7	0.4	0.3	0.1	0.1	0.1	0.1	-
Working Cap Days ⓘ	92	86	91	101	102	119	127	133	114	92	0
Cash Conv. Cycle ⓘ	14	11	13	14	24	32	38	47	41	36	0

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 11.40%

Sales growth is growing at healthy rate in last 3 years 10.61%

Net Profit is growing at healthy rate in last 3 years 37.04%

Sales growth is not so good in last 4 quarters at 0.00%

Latest Financials - JTEKT India Ltd.

	Standalone	Consolidated
TTM EPS (₹)	3.6	3.3
TTM Sales (₹ Cr.)	2,342	2,063
BVPS (₹.) ⓘ	33.1	28.9
Reserves (₹ Cr.) ⓘ	815	710
P/BV ⓘ	4.78	5.47
PE ⓘ	43.48	48.10

From the Market
52 Week Low / High (₹)	131.60 / 225.25
All Time Low / High (₹)	1.09 / 225.25
Market Cap (₹ Cr.)	4,018
Equity (₹ Cr.)	25.4
Face Value (₹)	1
Industry PE ⓘ	51.2

Management X-Ray of JTEKT India:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

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

Valuation of JTEKT India

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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 JTEKT India

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'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Sales	1,492	1,553	1,518	1,211	1,519	1,754	1,511	1,333	1,589	2,044
Operating Expenses ⓘ	1,314	1,337	1,324	1,066	1,306	1,532	1,374	1,230	1,461	1,857
Manufacturing Costs	95	99	100	81	104	121	103	88	110	134
Material Costs	1,026	1,033	1,000	788	976	1,156	1,015	917	1,107	1,446
Employee Cost	134	146	167	145	178	194	214	195	204	216
Other Costs ⓘ	59	59	57	52	50	61	42	31	41	61
Operating Profit ⓘ	179	216	194	146	213	222	137	103	127	187
Operating Profit Margin (%)	12.0%	13.9%	12.8%	12.0%	14.0%	12.6%	9.1%	7.7%	8.0%	9.1%
Other Income ⓘ	40	5	16	6	7	12	9	5	10	9
Interest ⓘ	39	31	32	25	21	16	10	5	4	5
Depreciation ⓘ	68	104	99	79	96	96	93	83	71	73
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	-7	-3
Profit Before Tax ⓘ	111	86	79	48	102	122	43	21	56	114
Tax ⓘ	25	27	25	15	36	44	8	7	15	27
Profit After Tax	86	59	54	32	66	78	35	14	41	87
PAT Margin (%)	5.8%	3.8%	3.6%	2.7%	4.4%	4.5%	2.3%	1.0%	2.6%	4.3%
Adjusted EPS (₹)	3.4	1.9	1.9	1.9	3.2	3.0	1.2	0.5	1.5	3.3
Dividend Payout Ratio (%)	23%	34%	27%	27%	16%	27%	28%	31%	27%	15%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Equity and Liabilities
Shareholders Fund	309	323	347	383	544	593	596	599	632	703
Share Capital ⓘ	20	20	20	20	20	24	24	24	24	24
Reserves ⓘ	289	304	327	363	525	568	571	574	607	678
Minority Interest	79	99	112	16	21	24	26	26	29	31
Debt	235	210	223	181	173	136	49	35	50	42
Long Term Debt	170	167	156	120	99	47	16	17	34	31
Short Term Debt	65	42	68	61	74	89	33	18	15	11
Trade Payables	195	193	194	167	182	208	144	204	198	220
Others Liabilities ⓘ	266	266	232	191	276	314	176	176	129	135
Total Liabilities ⓘ	1,084	1,090	1,109	938	1,195	1,275	991	1,039	1,038	1,131
Fixed Assets
Gross Block	960	1,056	1,162	555	748	821	865	846	864	988
Accumulated Depreciation	358	472	562	78	198	289	379	421	472	513
Net Fixed Assetsⓘ	602	584	600	477	549	533	487	425	392	475
CWIP ⓘ	75	63	40	23	25	10	3	10	97	25
Investmentsⓘ	1	1	1	103	0	0	0	0	0	0
Inventories	94	100	99	84	101	112	115	130	145	188
Trade Receivables	208	189	215	155	258	268	194	256	242	281
Cash Equivalents	3	18	36	3	84	124	62	75	80	57
Others Assetsⓘ	101	134	117	94	178	229	131	142	83	106
Total Assets ⓘ	1,084	1,090	1,109	938	1,195	1,275	991	1,039	1,038	1,131

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Cash Flow From Operating Activity ⓘ	163	199	131	162	178	184	125	91	108	95
PBT ⓘ	111	86	79	48	102	122	43	21	56	114
Adjustment ⓘ	74	132	116	99	114	102	99	86	75	80
Changes in Working Capital ⓘ	5	7	-36	39	6	9	3	-7	-8	-68
Tax Paid ⓘ	-26	-26	-29	-24	-45	-49	-19	-9	-16	-31
Cash Flow From Investing Activity ⓘ	-42	-81	-79	-64	-122	16	-34	-40	-126	-84
Capex	-105	-82	-89	-67	-51	-67	-39	-36	-120	-94
Net Investments	63	-1	10	0	-76	76	0	-6	-9	7
Others ⓘ	1	1	1	3	4	8	5	2	4	3
Cash Flow From Financing Activityⓘ	-122	-102	-35	-100	-55	-85	-153	-44	14	-28
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-62	-27	-10	-35	-34	-59	-59	-13	25	-5
Interest Paid ⓘ	-41	-34	-33	-28	-21	-15	-10	-4	-3	-4
Dividend Paid ⓘ	-13	-16	-13	-12	-13	-26	-22	-11	-5	-14
Others ⓘ	-6	-26	22	-25	14	15	-62	-16	-3	-4
Net Cash Flow ⓘ	0	15	18	-2	1	115	-61	7	-4	-17

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Ratios
ROE (%)	30.22	18.66	16.15	8.88	14.33	13.76	5.91	2.29	6.68	13.06
ROCE (%)	22.73	18.46	17.51	11.36	17.58	17.63	7.29	3.84	8.93	16.3
Asset Turnover Ratio	1.53	1.61	1.56	1.35	1.46	1.42	1.33	1.31	1.53	1.88
PAT to CFO Conversion(x)	1.9	3.37	2.43	5.06	2.7	2.36	3.57	6.5	2.63	1.09
Working Capital Days
Receivable Days	47	41	43	49	48	55	56	62	57	47
Inventory Days	19	20	21	24	22	22	27	34	32	30
Payable Days	69	68	71	84	65	61	63	69	66	53

JTEKT India Ltd Stock News

JTEKT India Ltd FAQs

What is the share price of JTEKT India?

Company share prices are keep on changing according to the market conditions. The closing price of JTEKT India on 22-Nov-2024 16:59 is ₹158.4.

What is the market cap of JTEKT India?

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 22-Nov-2024 16:59 the market cap of JTEKT India stood at ₹4,017.6.

What is the P/E ratio of JTEKT India?

The latest P/E ratio of JTEKT India as of 22-Nov-2024 16:59 is 43.48.

What is the P/B ratio of JTEKT India?

The latest P/B ratio of JTEKT India as of 22-Nov-2024 16:59 is 4.78.

What is the 52-week high and low of JTEKT India?

The 52-week high of JTEKT India is ₹225.2 and the 52-week low is ₹131.6.

What is the TTM revenue of JTEKT India?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of JTEKT India is ₹2,342 ( Cr.) .

About JTEKT India Ltd

Established in 1984, JTEKT India Limited (formerly known as Sona Koyo Steering Systems Limited) is a subsidiary of JTEKT Corporation Japan and operates as part of JTEKT Group India. It is leading automotive components manufacturer. The globally recognised manufacturer of steering systems and automotive components, JTEKT India, caters to most vehicle manufacturers nationally as well as internationally. Some of the major original equipment manufacturers (OEMs) namely Maruti Suzuki, Toyota, Tata Motors, Mahindra & Mahindra, General Motors, Fiat India, Isuzu Motors, Renault India, Honda and Nissan procure ancillary equipment from JTEKT India.

The company also exports its products to the USA, Europe, and Japan independently as well as through overseas partners. Over the last three decades, the Company has successfully strengthened its presence in two core product technologies – steering systems and driveline components. Spread geographically to seven manufacturing units across India, JTEKT India has five Plants in Haryana (the automotive hub of India), one in Gujarat, and one in Tamil Nadu.

Business area of the company

The company is engaged in the business of manufacturing / production, supply and sale of steering systems, axles and other auto ancillaries to almost all Indian passenger car and utility vehicle manufacturers.

Products

The product portfolio of the company includes High-performance Rack and Pinion Manual Steering Gear, Hydraulic Power Steering System, Recirculating Ball Screw Assembly, Column type Electric Power Steering, Tilt & telescopic steering column, intermediate shaft, Advanced Column & telescopic intermediate shaft, Electric Power-Assist Module (EPAM), Rear Axle Assembly and other Driveline products.

Awards

2009-10:

The company was awarded by Tata Motors for its ‘Pursuit of Excellence in Quality’.
The being conferred with ‘Supply Chain Leader Award’ by 9.9 media publication.

2010-11:

The company was awarded, by Maruti Suzuki, Excellence Award under the categories of ‘Research & Development’ and ‘Tier 2 Up-gradation’.

2011-12:

Maruti Suzuki awarded the company with Production System Excellence Award & Human Resource Excellence Award.
The company was also awarded with 2nd prize in Kaizen competition for Mahindra Supplier group.

2012-13:

General Motors awarded the company with the ‘Best Practices Recognition Award’ during the year.
Awarded Tier-2 Upgradation Award from Maruti Suzuki. The company is participating in MACE (Maruti Centre for Excellence) program for Tier-2 (supplier) upgradation.
The Institute of Economic Studies (IES), one of India’s premiere research institutes, conferred ‘Excellence Award’ to the company for its prominent position in Auto Component Industry.
The company’s Dharuhera Plant-2 is the NCR’s first certified green building as acknowledged by Indian Green Building Council.

2013-14:

The company’s continuing emphasis on research and development was recognized by ACMA’s ‘Award for Excellence in Technology - Large Category’.
Recognized as Best Vendor Support and Best Delivery by Toyota Kirloskar Motor for its outstanding performance during FY14.

2015-16:

Toyota Kirloskar Motor 'Zero PPM' award for achieving Zero Defect Supplies for the year 2015.
Maruti Suzuki Quality Award for the year 2015.

2016-17:

Infosec Maestros Award 2016.
Business Tech Award 2016 (DQ Live)

2017-18:

The company has been recognised by its customer Toyota Kirloskar Motor with four awards. It received awards in the categories: (a) For achieving zero defect supplies (b) Best Gemba Improvement Activity (c) Achieving targets in the category of Quality and (d) Achieving targets in the category of Delivery.
Japan Institute of Plant Maintenance (JIPM) has recognised the company with an award for TPM excellence, ‘Category A’.
Received Global Safety Excellence Award from JTEKT Corporation, Japan among all JTEKT companies across the globe.
Received Zero PPM Award from Toyota Kirloskar Motor Limited.
Received the ‘Comprehensive Excellence Award’ from Maruti Suzuki.
Garnered the ‘Best Vendor System Audit Award’ from Maruti Suzuki.

Milestones

1985: Technical Collaboration Agreement with Koyo Seiko Co., Japan, for manufacturing
1987: Commencement of Production - Manual Steering Gear - Manual Steering Column
1994: ISO-9002 Certificate by TUV-CERT, Germany
1996: Production of Hydraulic Power Steering Gear
1998: Established plant in Chennai
2003: Established Export Oriented Unit (EOU) in Chennai
2003: 'Deming Award' by JUSE, Japan
2004: Acquired 21% stake in Fuji Autotech France
2006: Started production of column-type Electric Power Steering
2007: Established plant at Dharuhera, Haryana
2007: JTEKT-Sona Automotive India Ltd. (JSAI)
2007: Sona-Fuji Kiko India Ltd (SFAI)
2008: TPM Excellence Award
2010: US Patent for Torque Sensor for EPAM
2010: Arjan Stampings Ltd. renamed as Sona Stampings Ltd.
2010: US Patent for Electric Power Assist Motor (EPAM)
2011: Production starts at SKSSL Sanand, Gujarat plant
2015-16: Accomplished smooth start of production of C-EPS for Mahindra’s KUV1OO
2016-17: JTEKT, Japan, has now become its principal shareholder. This new development will help further consolidate its position in the Indian market by strengthening its technological know-how and innovation capabilities
2016-17: Sona Koyo and its subsidiaries have now become members of the JTEKT Group
2017-18: Accomplished smooth ‘Start of Production’ (launch) of Jacket Column Assembly for TMKL YAARIS
2017-18: Achieved 100% OTIF delivery for its star customer JSAI
2017-18: The Board of Directors of the Company have, vide resolution dated 9th February, 2018 have approved Scheme of Amalgamation of involving JTEKT SONA Automotive India Limited (Amalgamating Company) and JTEKT India Limited (Amalgamated Company) and their respective shareholders and creditors.
2018-19: JTEKT Corporation’s strong global branding and a strategic merger with a group company in India in FY2019 to achieve business synergies and operational efficiencies.
2019-20: The company closed FY2020 with the completion of Phase-1 of Technical Centre involving setting up of a state of art component testing facility