Sundaram Brake Linings Ltd - Stock Valuation and Financial Performance

BSE: 590072 | NSE: SUNDRMBRAK | Auto Ancillary | Small Cap

Sundaram BrakeLining Share Price

846.70 16.80 2.02%
as on 05-Nov'24 00:00

DeciZen - make an informed investing decision on Sundaram BrakeLining

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Sundaram Brake Linings stock performance -

mw4me loader
P/E Ratio (SA):
40.37
Market Cap:
326.5 Cr.
52-wk low:
573.3
52-wk high:
1,232

Is Sundaram Brake Linings Ltd an attractive stock to invest in?

1. Is Sundaram Brake Linings Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Sundaram Brake Linings Ltd is a below average quality company.

2. Is Sundaram Brake Linings Ltd undervalued or overvalued?

The key valuation ratios of Sundaram Brake Linings Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Sundaram Brake Linings Ltd a good buy now?

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

10 Year X-Ray of Sundaram BrakeLining:

Analysis of Financial Track Record

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

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

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Sundaram Brake Linings Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % -4.1%2.7%4.4%5.9%8.2%4.9%3.3%2.2%-0.6%11.4%-
Value Creation
Index
-1.3-0.8-0.7-0.6-0.4-0.7-0.8-0.9-1.0-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 237228228247286258237295355352343
Sales YoY Gr.--3.8%0%8.6%15.9%-9.8%-8.3%24.6%20.2%-0.7%-
Adj EPS -37.9-42.9714.43.713.5-6.6-15.521.720.6
YoY Gr.-NANA136.4%106.5%-74.6%269%-148.6%NANA-
BVPS (₹) 177.5176.5180.4189.7208.4213.4229.2230.3217.1241.6245.4
Adj Net
Profit
-14.9-1.61.22.75.71.45.3-2.6-6.18.58
Cash Flow from Ops. -18.419.34.22.517.2-3.9-2.11.115.2-
Debt/CF from Ops. -54.15.71.77.213.31.4-7.7-20452.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 4.5%4.2%14.2%-0.7%
Adj EPS NA8.6%17.2%NA
BVPS3.5%3%1.8%11.3%
Share Price 11.8% 28.1% 29.1% 41.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
-19.1-2.31.73.87.21.76.1-2.9-6.99.58.4
Op. Profit
Mgn %
0.32.93.82.942.33.41.10.75.34.5
Net Profit
Mgn %
-6.3-0.70.51.120.62.2-0.9-1.72.42.4
Debt to
Equity
0.70.70.50.40.40.30.30.50.60.5-
Working Cap
Days
13213913313413815716614713514164
Cash Conv.
Cycle
7461637476868982757217

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 8.40%

Sales growth is growing at healthy rate in last 3 years 14.16%

Net Profit is growing at healthy rate in last 3 years 17.23%

Debt to equity has declined versus last 3 years average to 0.47

Sales growth is not so good in last 4 quarters at -4.41%

Latest Financials - Sundaram Brake Linings Ltd.

Standalone Consolidated
TTM EPS (₹) 20.6 -
TTM Sales (₹ Cr.) 343 -
BVPS (₹.) 245.4 -
Reserves (₹ Cr.) 93 -
P/BV 3.38 -
PE 40.37 -
From the Market
52 Week Low / High (₹) 573.30 / 1232.00
All Time Low / High (₹) 88.09 / 1232.00
Market Cap (₹ Cr.) 327
Equity (₹ Cr.) 3.9
Face Value (₹) 10
Industry PE 53.8

Management X-Ray of Sundaram BrakeLining:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Sundaram BrakeLining

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales237228228247286258237295355352
Operating Expenses 236221219240275252229292352334
Manufacturing Costs51434244515142546365
Material Costs116110103120144123121166214185
Employee Cost 39404747524741424348
Other Costs 30292729283224303236
Operating Profit 179711683319
Operating Profit Margin (%) 0.3%2.9%3.8%2.9%4.0%2.3%3.4%1.1%0.7%5.3%
Other Income 1223351333
Interest 4332322354
Depreciation 7654556666
Exceptional Items 0000000200
Profit Before Tax -90146320-512
Tax 6100-10-40-11
Profit After Tax -150247360-510
PAT Margin (%) -6.2%-0.2%0.8%1.5%2.5%1.0%2.5%0.0%-1.3%2.9%
Adjusted EPS (₹)-37.0-1.04.59.617.96.415.30.2-12.225.7
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 70697175828490918595
Share Capital 4444444444
Reserves 66666771788086878191
Minority Interest0000000000
Debt45433030332426404842
Long Term Debt8300001055
Short Term Debt38403030332425404337
Trade Payables34362530333335424844
Others Liabilities 28233435403830242525
Total Liabilities 177172160170189179182197206206

Fixed Assets

Gross Block175808182879297107106111
Accumulated Depreciation9461115202531393945
Net Fixed Assets81747167676766686765
CWIP 0000033113
Investments 0000011111
Inventories29263033393834485645
Trade Receivables54534453625365646969
Cash Equivalents 3444430000
Others Assets10141213171312141223
Total Assets 177172160170189179182197206206

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity -18194317-4-2115
PBT -90146320-512
Adjustment 10884656488
Changes in Working Capital -246-6-910-6-6-2-2
Tax Paid 0-442-1-1-6-10-2
Cash Flow From Investing Activity -2-2-11-4-6-4-8-6-6
Capex -3-2-2-1-4-6-4-8-6-6
Net Investments 0000-100000
Others 0012000000
Cash Flow From Financing Activity 2-9-18-52-125105-9
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -5-6-5-3005-460
Interest Paid -4-3-3-2-2-1-1-2-4-3
Dividend Paid 0000000000
Others 100-1004-101153-6
Net Cash Flow -1-20000-3000
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)-18.6-0.592.515.179.013.036.890.09-5.4311.19
ROCE (%)-4.142.694.435.928.194.893.342.17-0.5711.36
Asset Turnover Ratio1.411.41.481.521.61.41.311.561.761.71
PAT to CFO Conversion(x)N/AN/A9.510.435.67-0.67N/AN/A1.5
Working Capital Days
Receivable Days80807270738190806972
Inventory Days37414146465455515452
Payable Days89116108848099103857791

Sundaram Brake Linings Ltd Stock News

Sundaram Brake Linings Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Sundaram BrakeLining on 05-Nov-2024 00:00 is ₹846.7.
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 Sundaram BrakeLining stood at ₹326.5.
The latest P/E ratio of Sundaram BrakeLining as of 05-Nov-2024 00:00 is 40.37.
The latest P/B ratio of Sundaram BrakeLining as of 05-Nov-2024 00:00 is 3.38.
The 52-week high of Sundaram BrakeLining is ₹1,232 and the 52-week low is ₹573.3.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Sundaram BrakeLining is ₹342.9 ( Cr.) .

About Sundaram Brake Linings Ltd

Established in 1976 as a joint venture with a world famous friction materials manaufacturer, Sundaram Brake Linings (SBL) a TVS Group company is now a fully Indian owned company manufacturing automotive, non-automotive and industrial friction materials. SBL products are extensivley used in commercial vehicles, passenger cars, tractors (agricultural) and motor cycles.

Nine decades ago (1912), TVS - T.V. Sundaram Iyengar started one of the earliest rural bus services in India. Today, the TVS group has 30 companies with a combined turnover of US$ 2.5 billion with 25,000 employees. All the companies are professionally run under the TVS Board's guidelines. The core strength of TVS is manufacture of auto components for the automobile / tractor Industry. TVS has diverse activities such as commercial vehicle & passenger car distribution / servicing, cargo transportation & logistics, spare parts distribution through more than 140 fully-owned outlets spread throughout India. TVS also manufactures motor cycles, sewing needles and computer peripherals.

SBL has four manufacturing plants with two plants dedicated exclusively to manufacturing asbestos-free brake linings and pads. The combined production capacity of all four manufacturing plants exceeds 1.2 million brake blocks per month. SBL also manufactures asbestos-free woven clutch facings, disc pads, flexible rolls, and insitu bonded shoes

All manufacturing plants are strategically located near major Indian ports to improve the turnaround time in servicing global customers. SBL exports to more than 69 countries catering to the after market needs of international applications like Mercedes Benz, Volvo, Scania, Renault etc. SBL is also the preferred supplier to some of the well known axle manufacturers as original equipment

SBL products have been tested to meet European ECE-R90, American FMVSS 121, Australian ADR 35/38, South African SABS 1506 requirements besides the Indian IS 11852.

SBL has the singular distinction of being the first friction material manufacturer in the world to win the coveted Deming Application Prize for practising Total Quality Management (TQM). Besides SBL, the other group companies that have received the Deming Application Prize are Sundaram Clayton, TVS Motor Company, Brakes India (Foundry Division) and Lucas – TVS.

Product range of the company includes:

Sundaram Brake Linings Limited is mainly engaged in manufacture of friction materials.

  • Brake linings
  • Break Pads
  • Disk Brake pads,
  • Clutches
  • Parts.

Achievements/ recognition:

  • 1998-99 ACMA Productivity Award.
  • 1990-91 & 89-90: Productivity Award from Chief Inspector of Factories, Governmentof Tamil Nadu
  • SBL is a ISO / TS 16949 and ISO-14001 certified company.
  • 1988-89: Productivity Award from the National Productivity Council
  • 1988-89: Certificate of Merit for outstanding Export Performance from Ministry of Commerce, Government of India
  • 1993-94: National Award from DSIR,New Delhi
  • 1991-92:Technology Award fromACMA, India
  • 1989-90: National Award for Technology Department from DGTD, New Delhi
  • First friction material company in the world to win the Deming Application Prize.
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