BSE: 530919 | NSE: REMSONSIND | Auto Ancillary | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Remsons Industries Ltd is a good quality company.
The key valuation ratios of Remsons Industries 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 Remsons Industries 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'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 5.5% | 7.7% | 1.9% | 15.5% | 14.7% | 19.3% | 17.8% | 12.1% | 16.2% | 14% | - |
| Value Creation Index ⓘ | -0.6 | -0.5 | -0.9 | 0.1 | 0.1 | 0.4 | 0.3 | -0.1 | 0.2 | 0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 115 | 114 | 119 | 128 | 149 | 159 | 195 | 223 | 264 | 257 | 269 |
| Sales YoY Gr. | - | -1.3% | 4% | 8.1% | 16.6% | 6.6% | 22.8% | 14.2% | 18.2% | -2.7% | - |
| Adj EPS ⓘ | 0 | -0 | -0.4 | 1.1 | 1.4 | 1.9 | 1.2 | 1 | 2.5 | 0.5 | 3.2 |
| YoY Gr. | - | NA | NA | NA | 24.8% | 41.9% | -39.9% | -12.9% | 148.5% | -81.3% | - |
| BVPS (₹) ⓘ | 5.8 | 6 | 5.7 | 6.9 | 7.6 | 8.7 | 11 | 12.1 | 14.6 | 6.1 | 30.7 |
| Adj Net Profit ⓘ | 0 | -0.1 | -1.2 | 3.1 | 3.9 | 5.5 | 3.3 | 2.9 | 7.2 | 8.1 | 11 |
| Cash Flow from Ops. ⓘ | 0.6 | 5.2 | 5.5 | 3.8 | 8 | 5.2 | 9.4 | 4.5 | 12.9 | 18.7 | - |
| Debt/CF from Ops. ⓘ | 43.3 | 5.3 | 4.9 | 7.5 | 3.3 | 5.7 | 5.2 | 13.1 | 4.6 | 2.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 9.3% | 11.5% | 9.6% | -2.7% | ||||
| Adj EPS ⓘ | NA | -19.1% | -26% | -81.3% | ||||
| BVPSⓘ | 0.5% | -4.5% | -18% | -58.5% | ||||
| Share Price | 38.1% | 57.1% | 46.8% | 37.2% | ||||
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 % ⓘ | -0.1 | -0.8 | -7 | 17.4 | 18.8 | 23.8 | 11.8 | 8.8 | 18.8 | 11 | 17.6 |
| Op. Profit Mgn % ⓘ | 3.5 | 4 | 2.2 | 6.7 | 6.7 | 8 | 5.1 | 6.3 | 7.8 | 9 | 8.8 |
| Net Profit Mgn % ⓘ | -0 | -0.1 | -1 | 2.4 | 2.6 | 3.5 | 1.7 | 1.3 | 2.7 | 3.2 | 4.2 |
| Debt to Equity ⓘ | 1.6 | 1.6 | 1.7 | 1.5 | 1.2 | 1.2 | 1.6 | 1.7 | 1.4 | 0.4 | 0.1 |
| Working Cap Days ⓘ | 101 | 113 | 108 | 116 | 126 | 133 | 147 | 152 | 125 | 131 | 86 |
| Cash Conv. Cycle ⓘ | 59 | 64 | 56 | 58 | 56 | 60 | 49 | 47 | 50 | 53 | 23 |
Return on Equity has increased versus last 3 years average to 17.60%
Debt to equity has declined versus last 3 years average to 0.41
Sales growth has been subdued in last 3 years 9.55%
Net Profit has been subdued in last 3 years -26.00%
Sales growth is not so good in last 4 quarters at 7.16%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 3.2 | 4.1 |
| TTM Sales (₹ Cr.) | 269 | 331 |
| BVPS (₹.) ⓘ | 30.7 | 33.6 |
| Reserves (₹ Cr.) ⓘ | 100 | 110 |
| P/BV ⓘ | 5.08 | 4.64 |
| PE ⓘ | 48.09 | 37.82 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 103.80 / 234.95 |
| All Time Low / High (₹) | 1.81 / 234.95 |
| Market Cap (₹ Cr.) | 544 |
| Equity (₹ Cr.) | 7 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 51.1 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 115 | 114 | 119 | 128 | 149 | 159 | 195 | 223 | 264 | 257 |
| Operating Expenses ⓘ | 111 | 109 | 116 | 120 | 141 | 148 | 186 | 209 | 244 | 234 |
| Manufacturing Costs | 11 | 11 | 8 | 7 | 8 | 8 | 7 | 8 | 9 | 10 |
| Material Costs | 66 | 66 | 75 | 78 | 93 | 96 | 136 | 153 | 180 | 164 |
| Employee Cost | 18 | 21 | 23 | 24 | 27 | 31 | 30 | 34 | 37 | 40 |
| Other Costs ⓘ | 16 | 12 | 10 | 11 | 13 | 13 | 13 | 15 | 17 | 20 |
| Operating Profit ⓘ | 4 | 4 | 3 | 8 | 9 | 11 | 10 | 14 | 20 | 23 |
| Operating Profit Margin (%) | 3.5% | 3.9% | 2.1% | 6.1% | 5.9% | 7.2% | 5.1% | 6.3% | 7.7% | 9.0% |
| Other Income ⓘ | 0 | 1 | 1 | 2 | 1 | 2 | 2 | 1 | 2 | 2 |
| Interest ⓘ | 2 | 3 | 2 | 3 | 2 | 3 | 3 | 5 | 5 | 6 |
| Depreciation ⓘ | 2 | 2 | 2 | 3 | 2 | 3 | 3 | 5 | 6 | 8 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 1 | 0 | 0 |
| Profit Before Tax ⓘ | 0 | 1 | -1 | 5 | 5 | 7 | 9 | 5 | 11 | 12 |
| Tax ⓘ | 0 | 0 | -1 | 1 | 1 | 2 | 2 | 2 | 3 | 3 |
| Profit After Tax | 0 | 0 | -1 | 3 | 3 | 5 | 7 | 4 | 8 | 9 |
| PAT Margin (%) | 0.0% | 0.4% | -0.7% | 2.7% | 2.3% | 3.4% | 3.4% | 1.6% | 2.9% | 3.4% |
| Adjusted EPS (₹) | 0.0 | 0.2 | -0.3 | 1.2 | 1.2 | 1.9 | 2.3 | 1.2 | 2.7 | 0.5 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 22% | 25% | 32% | 9% | 16% | 11% | 12% |
| 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 | 17 | 17 | 16 | 20 | 22 | 25 | 31 | 35 | 42 | 106 |
| Share Capital ⓘ | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 7 |
| Reserves ⓘ | 11 | 11 | 10 | 14 | 16 | 19 | 26 | 29 | 36 | 99 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 26 | 28 | 27 | 28 | 26 | 29 | 43 | 56 | 57 | 41 |
| Long Term Debt | 8 | 8 | 9 | 8 | 8 | 8 | 21 | 18 | 15 | 1 |
| Short Term Debt | 18 | 20 | 18 | 20 | 18 | 22 | 23 | 38 | 42 | 41 |
| Trade Payables | 10 | 13 | 14 | 18 | 28 | 25 | 41 | 36 | 40 | 40 |
| Others Liabilities ⓘ | 6 | 6 | 3 | 4 | 4 | 6 | 22 | 18 | 16 | 14 |
| Total Liabilities ⓘ | 59 | 64 | 60 | 70 | 80 | 85 | 139 | 145 | 155 | 201 |
Fixed Assets | ||||||||||
| Gross Block | 47 | 50 | 25 | 27 | 30 | 34 | 46 | 54 | 63 | 78 |
| Accumulated Depreciation | 27 | 29 | 2 | 5 | 7 | 10 | 12 | 18 | 24 | 31 |
| Net Fixed Assetsⓘ | 20 | 21 | 22 | 22 | 23 | 24 | 34 | 36 | 39 | 47 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 20 | 19 | 19 |
| Inventories | 15 | 17 | 18 | 23 | 27 | 33 | 36 | 35 | 38 | 39 |
| Trade Receivables | 19 | 21 | 16 | 20 | 27 | 22 | 33 | 37 | 45 | 41 |
| Cash Equivalents | 1 | 0 | 0 | 1 | 0 | 2 | 0 | 1 | 4 | 41 |
| Others Assetsⓘ | 3 | 4 | 3 | 4 | 3 | 4 | 30 | 15 | 10 | 12 |
| Total Assets ⓘ | 59 | 64 | 60 | 70 | 80 | 85 | 139 | 145 | 155 | 201 |
| 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 ⓘ | 1 | 5 | 6 | 4 | 8 | 5 | 9 | 4 | 13 | 19 |
| PBT ⓘ | 0 | 1 | -1 | 5 | 5 | 7 | 9 | 5 | 11 | 12 |
| Adjustment ⓘ | 5 | 5 | 4 | 4 | 5 | 3 | 2 | 9 | 10 | 12 |
| Changes in Working Capital ⓘ | -4 | -1 | 3 | -5 | -0 | -5 | 0 | -8 | -6 | -1 |
| Tax Paid ⓘ | 0 | 0 | 0 | -1 | -1 | -1 | -1 | -2 | -3 | -5 |
| Cash Flow From Investing Activity ⓘ | -3 | -4 | -3 | -3 | -4 | -2 | -26 | -7 | -7 | -48 |
| Capex | -3 | -3 | -3 | -3 | -4 | -2 | -4 | -8 | -7 | -11 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | -37 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | -22 | 1 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 3 | -2 | -3 | -1 | -5 | -2 | 16 | 3 | -7 | 29 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61 |
| Net Proceeds from Borrowing ⓘ | 0 | -1 | 1 | -1 | 0 | -1 | 18 | -3 | -3 | -15 |
| Interest Paid ⓘ | -2 | -3 | -2 | -2 | -2 | -2 | -3 | -4 | -5 | -5 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | -1 | -2 | 0 | -1 | -1 | -1 |
| Others ⓘ | 5 | 1 | -1 | 2 | -2 | 3 | 1 | 10 | 1 | -11 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | 1 | -1 | 1 | -1 | 1 | -1 | 0 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 0.25 | 2.67 | -4.71 | 19.29 | 16.67 | 22.96 | 23.71 | 10.75 | 20.33 | 12.01 |
| ROCE (%) | 5.46 | 7.71 | 1.93 | 15.49 | 14.66 | 19.34 | 17.77 | 12.06 | 16.23 | 14.02 |
| Asset Turnover Ratio | 2.27 | 2.09 | 2.15 | 2.02 | 1.99 | 1.93 | 1.75 | 1.58 | 1.76 | 1.44 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | 1.33 | 2.67 | 1 | 1.29 | 1 | 1.63 | 2.11 | Working Capital Days |
| Receivable Days | 51 | 57 | 52 | 51 | 57 | 56 | 51 | 57 | 57 | 61 |
| Inventory Days | 41 | 46 | 48 | 56 | 60 | 68 | 64 | 58 | 50 | 55 |
| Payable Days | 55 | 66 | 66 | 75 | 91 | 101 | 88 | 93 | 77 | 89 |
Remsons Industries, incorporated in 1971, is engaged in the manufacture of cables, flexible shafts, gear shift systems, push pull cables and park brake mechanisms. The company’s manufacturing units are located at Kandivli, Gurgaon and
Products
Cables- The company manufactures cables for two-wheelers, three-wheelers, four-wheeler, commercial vehicles, construction equipments, mining equipment and farm equipments. These cables have applications in clutch, throttle, choke, gear, brake, seat cable, ventilation, speedometer and many more.
Flexible Shafts- The company is the largest source for speedo cables in
Gear Shift Systems- Remsons manufactures gear shifts systems for passenger cars, light commercial vehicles, heavy commercial vehicles and buses.
Push pull cables- The company produces push pull cables used in manufacturing of hydraulic cables, backhoe loaders, dumpers, Forklifts, material handlers, etc.
Park Brake mechanism- It produces two types of park brake mechanism for Indian and overseas markets namely dash mounted and floor mounted.
The company exports its product to countries like
It also has an in-house engineering and design department that is engaged in designing new products that are cost effective.
Milestones
1959- The company was established as a trading company.
1963- The company forayed in the business of manufacturing of various engineering items.
1965- It was first to introduce control cables in
1971- Remsons Industries was incorporated.
1972- The company commenced a plant to manufacture flexible shafts.
1973-The company was first to introduce Pressure Die Cast cable ends.
1983- It introduced Friction Free Cables.
1996- Remsons Industries started supplying its products to General Motors (USA).
1998- It commissioned an
1999-The company established a marketing office in
2001- Remsons was first in
2004- The company developed and established supplies of complete Hand Brake Assembly with Cables to the OEM’s.
2006- Remsons Industries was first in
2007- Remsons entered into a joint venture with Orscheln Products LLC. to manufacture various parts for the transportation industries
2010 - Exports commenced of Floor Mounted Parking Brake Lever for IVECO
Marketing Office In USA for North America
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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