BSE: 505160 | NSE: TALBROAUTO | Auto Ancillary | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Talbros Automotive Components Ltd is a good quality company.
The key valuation ratios of Talbros Automotive Components 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 Semi Strong which suggest that the price of Talbros Automotive Components Ltd is likely to Rise-somewhat 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 % ⓘ | 15.1% | 12.4% | 9.6% | 12.1% | 12.2% | 6.2% | 18.6% | 18.4% | 19.3% | 29.7% | - |
| Value Creation Index ⓘ | 0.1 | -0.1 | -0.3 | -0.1 | -0.1 | -0.6 | 0.3 | 0.3 | 0.4 | 1.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 390 | 392 | 325 | 393 | 483 | 385 | 444 | 577 | 647 | 778 | 821 |
| Sales YoY Gr. | - | 0.6% | -17.1% | 21% | 22.9% | -20.2% | 15.3% | 30% | 12.1% | 20.3% | - |
| Adj EPS ⓘ | 2.2 | 1.9 | 1.7 | 3.2 | 3.9 | 2.1 | 3.4 | 6.9 | 9.1 | 12.7 | 18.9 |
| YoY Gr. | - | -12.9% | -12.7% | 96.4% | 20.7% | -47.6% | 67.3% | 100.9% | 32.1% | 39.3% | - |
| BVPS (₹) ⓘ | 20.5 | 21.3 | 25.2 | 29.1 | 32.2 | 32.1 | 40.1 | 48.9 | 59.5 | 87 | 96.4 |
| Adj Net Profit ⓘ | 13.4 | 11.7 | 10.2 | 20 | 24.1 | 12.7 | 21.2 | 42.5 | 56.2 | 78.3 | 117 |
| Cash Flow from Ops. ⓘ | 33 | 33.4 | 37.6 | 34.1 | 16.4 | 37 | 66.2 | 51.7 | 56.6 | 66.8 | - |
| Debt/CF from Ops. ⓘ | 4 | 3.8 | 3.2 | 3.7 | 9.5 | 4.2 | 1.6 | 1.7 | 1.5 | 1.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 8% | 10% | 20.6% | 20.3% | ||||
| Adj EPS ⓘ | 21.7% | 26.5% | 54.6% | 39.3% | ||||
| BVPSⓘ | 17.4% | 22% | 29.5% | 46.2% | ||||
| Share Price | 30.9% | 70.6% | 58.8% | 5.1% | ||||
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 % ⓘ | 10.9 | 9 | 7.1 | 12 | 12.8 | 6.4 | 9.5 | 15.5 | 16.8 | 17.3 | 20.6 |
| Op. Profit Mgn % ⓘ | 10.1 | 11.2 | 9.3 | 9.9 | 10.4 | 9.5 | 12.5 | 12.6 | 13.4 | 14.7 | 15 |
| Net Profit Mgn % ⓘ | 3.4 | 3 | 1.7 | 3.3 | 3 | 1.2 | 4.8 | 7.4 | 8.7 | 10.1 | 14.2 |
| Debt to Equity ⓘ | 1.1 | 1 | 0.8 | 0.7 | 0.8 | 0.8 | 0.4 | 0.3 | 0.2 | 0.2 | 0 |
| Working Cap Days ⓘ | 198 | 216 | 252 | 227 | 212 | 267 | 236 | 199 | 194 | 198 | 88 |
| Cash Conv. Cycle ⓘ | 105 | 113 | 111 | 73 | 74 | 111 | 84 | 59 | 56 | 58 | 28 |
Return on Equity has increased versus last 3 years average to 20.60%
Sales growth is growing at healthy rate in last 3 years 20.55%
Net Profit is growing at healthy rate in last 3 years 54.62%
Sales growth is good in last 4 quarters at 16.00%
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| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 22 | 18.9 |
| TTM Sales (₹ Cr.) | 821 | 821 |
| BVPS (₹.) ⓘ | 91.2 | 96.4 |
| Reserves (₹ Cr.) ⓘ | 537 | 583 |
| P/BV ⓘ | 3.48 | 3.29 |
| PE ⓘ | 14.43 | 16.82 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 220.25 / 395.30 |
| All Time Low / High (₹) | 0.69 / 395.30 |
| Market Cap (₹ Cr.) | 1,960 |
| Equity (₹ Cr.) | 12.4 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 50.3 |
| 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 | 390 | 392 | 325 | 393 | 483 | 385 | 444 | 577 | 647 | 778 |
| Operating Expenses ⓘ | 350 | 349 | 295 | 354 | 433 | 349 | 389 | 504 | 562 | 664 |
| Manufacturing Costs | 50 | 43 | 39 | 50 | 61 | 52 | 58 | 77 | 84 | 102 |
| Material Costs | 219 | 218 | 181 | 220 | 273 | 205 | 238 | 306 | 351 | 422 |
| Employee Cost | 48 | 52 | 47 | 51 | 59 | 56 | 54 | 65 | 71 | 81 |
| Other Costs ⓘ | 34 | 36 | 28 | 33 | 40 | 36 | 38 | 56 | 56 | 58 |
| Operating Profit ⓘ | 39 | 43 | 30 | 39 | 50 | 37 | 56 | 73 | 85 | 115 |
| Operating Profit Margin (%) | 10.1% | 11.0% | 9.3% | 9.8% | 10.4% | 9.5% | 12.5% | 12.6% | 13.2% | 14.7% |
| Other Income ⓘ | 10 | 6 | 8 | 8 | 8 | 7 | 9 | 10 | 8 | 13 |
| Interest ⓘ | 19 | 18 | 16 | 14 | 16 | 16 | 13 | 12 | 11 | 13 |
| Depreciation ⓘ | 10 | 15 | 12 | 14 | 18 | 19 | 23 | 23 | 24 | 26 |
| Exceptional Items ⓘ | -2 | -2 | 0 | 2 | 0 | -2 | 18 | 0 | 0 | 42 |
| Profit Before Tax ⓘ | 19 | 14 | 10 | 21 | 25 | 6 | 52 | 56 | 70 | 147 |
| Tax ⓘ | 5 | 4 | 2 | 5 | 8 | 1 | 13 | 11 | 15 | 37 |
| Profit After Tax | 14 | 10 | 7 | 16 | 17 | 4 | 39 | 45 | 56 | 110 |
| PAT Margin (%) | 3.6% | 2.5% | 2.3% | 4.1% | 3.5% | 1.1% | 8.8% | 7.8% | 8.6% | 14.1% |
| Adjusted EPS (₹) | 2.3 | 1.6 | 2.0 | 3.7 | 4.3 | 2.0 | 6.3 | 7.3 | 9.0 | 17.8 |
| Dividend Payout Ratio (%) | 13% | 19% | 15% | 8% | 8% | 5% | 6% | 7% | 7% | 4% |
| 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 | 127 | 132 | 155 | 179 | 199 | 198 | 248 | 302 | 368 | 537 |
| Share Capital ⓘ | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves ⓘ | 115 | 119 | 143 | 167 | 186 | 186 | 235 | 290 | 355 | 525 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 117 | 113 | 113 | 117 | 138 | 141 | 85 | 81 | 81 | 83 |
| Long Term Debt | 32 | 23 | 17 | 16 | 25 | 20 | 14 | 8 | 6 | 3 |
| Short Term Debt | 85 | 91 | 97 | 102 | 112 | 121 | 71 | 73 | 75 | 79 |
| Trade Payables | 92 | 107 | 93 | 137 | 117 | 106 | 149 | 153 | 169 | 168 |
| Others Liabilities ⓘ | 47 | 44 | 45 | 41 | 54 | 46 | 56 | 58 | 53 | 106 |
| Total Liabilities ⓘ | 384 | 396 | 407 | 475 | 508 | 491 | 537 | 593 | 671 | 894 |
Fixed Assets | ||||||||||
| Gross Block | 193 | 204 | 205 | 225 | 256 | 290 | 299 | 326 | 351 | 382 |
| Accumulated Depreciation | 78 | 87 | 89 | 100 | 116 | 136 | 152 | 172 | 182 | 172 |
| Net Fixed Assetsⓘ | 114 | 117 | 116 | 125 | 141 | 153 | 147 | 154 | 169 | 210 |
| CWIP ⓘ | 9 | 1 | 2 | 3 | 7 | 1 | 3 | 3 | 5 | 7 |
| Investmentsⓘ | 6 | 7 | 57 | 66 | 64 | 53 | 73 | 98 | 127 | 186 |
| Inventories | 128 | 141 | 99 | 109 | 111 | 108 | 102 | 114 | 133 | 127 |
| Trade Receivables | 74 | 80 | 90 | 124 | 135 | 125 | 155 | 151 | 169 | 210 |
| Cash Equivalents | 10 | 8 | 7 | 8 | 9 | 8 | 12 | 5 | 8 | 5 |
| Others Assetsⓘ | 43 | 41 | 37 | 39 | 42 | 43 | 46 | 67 | 62 | 149 |
| Total Assets ⓘ | 384 | 396 | 407 | 475 | 508 | 491 | 537 | 593 | 671 | 894 |
| 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 ⓘ | 33 | 33 | 38 | 34 | 16 | 37 | 66 | 52 | 57 | 67 |
| PBT ⓘ | 21 | 16 | 14 | 28 | 34 | 14 | 52 | 56 | 70 | 147 |
| Adjustment ⓘ | 28 | 31 | 24 | 18 | 24 | 26 | 10 | 26 | 22 | -24 |
| Changes in Working Capital ⓘ | -9 | -9 | 2 | -8 | -37 | 0 | 9 | -13 | -20 | -34 |
| Tax Paid ⓘ | -6 | -5 | -2 | -4 | -5 | -3 | -5 | -18 | -15 | -23 |
| Cash Flow From Investing Activity ⓘ | -14 | -4 | -13 | -19 | -36 | -15 | -2 | -25 | -37 | -52 |
| Capex | -16 | -8 | -16 | -22 | -40 | -21 | 2 | -32 | -38 | -58 |
| Net Investments | -2 | -2 | -1 | -1 | 1 | 0 | -5 | 6 | 0 | 66 |
| Others ⓘ | 3 | 5 | 4 | 3 | 3 | 7 | 1 | 0 | 1 | -60 |
| Cash Flow From Financing Activityⓘ | -20 | -28 | -23 | -15 | 18 | -21 | -65 | -27 | -16 | -18 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | -5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -19 | -18 | -15 | -14 | -15 | -17 | -14 | -12 | -11 | -13 |
| Dividend Paid ⓘ | -6 | -2 | -2 | -2 | -2 | -3 | -1 | -4 | -3 | -4 |
| Others ⓘ | 5 | -8 | 0 | 1 | 36 | -2 | -51 | -11 | -2 | -1 |
| Net Cash Flow ⓘ | -1 | 1 | 2 | 0 | -1 | 1 | -1 | -1 | 3 | -3 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 11.51 | 7.53 | 5.22 | 9.54 | 8.92 | 2.18 | 17.57 | 16.34 | 16.61 | 24.31 |
| ROCE (%) | 15.07 | 12.35 | 9.58 | 12.08 | 12.21 | 6.17 | 18.61 | 18.38 | 19.32 | 29.69 |
| Asset Turnover Ratio | 1.16 | 1.1 | 0.88 | 0.91 | 0.98 | 0.77 | 0.86 | 1.02 | 1.02 | 0.99 |
| PAT to CFO Conversion(x) | 2.36 | 3.3 | 5.43 | 2.13 | 0.94 | 9.25 | 1.69 | 1.16 | 1.02 | 0.61 | Working Capital Days |
| Receivable Days | 62 | 65 | 88 | 98 | 98 | 123 | 115 | 97 | 90 | 89 |
| Inventory Days | 101 | 115 | 124 | 95 | 83 | 103 | 86 | 68 | 70 | 61 |
| Payable Days | 91 | 106 | 160 | 191 | 170 | 199 | 195 | 180 | 167 | 145 |
Talbros Automotive Components the flagship manufacturing company of the Talbros Group was established in the year 1956 to manufacture Automotive & Industrial Gaskets in collaboration with Coopers Payen of UK, now Federal Mogul Sealing Systems (Slough)UK.
For more than 52 years, Talbros has been leading the way in the Indian automotive components industry. Reflecting leadership and demonstrating excellence, Talbros is committed to achieving greater customer satisfaction in the years to come.
Talbros Group has strong partnerships formed with global giants. Notable among the joint venture partners are Federal Mogul-USA, Nippon Leakless Corporation –Japan, Affinia Group – USA and most recent being Presswerk Krefeld (PWK) -Germany
Their Research & Development Centres showcase their design capabilities including endurance, static and simulated environment testing. Today, their manufacturing prowess spans over 6 business and 12 facilities.
The largest OEMs like Ashok Leyland, Bajaj Auto, Cummins Group, Eicher India, Escorts Group, Force Motors, General Motors, Hero Honda, Honda, Hyundai, John Deere, Mahindra & Mahindra, Maruti Suzuki, Suzuki, TAFE, Tata Motors, Tata Cummins, Simpsons and international corporates like Affinia Automotive are their proud customers.
Product range of the company includes:
Clientele:
The largest OEMs like Ashok Leyland, Bajaj Auto, Cummins Group, Eicher India, Escorts Group, Force Motors, General Motors, Hero Honda, Honda, Hyundai, John Deere, Mahindra & Mahindra, Maruti Suzuki, Suzuki, TAFE, Tata Motors, Tata Cummins, Simpsons and international corporates like Affinia Automotive are its customers.
Achievements/ recognition:
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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.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
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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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