BSE: 0 | NSE: VIAZ | Tyres & Allied | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Viaz Tyres Ltd is a below average quality company.
The key valuation ratios of Viaz Tyres Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Viaz Tyres 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'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|
| ROCE % ⓘ | 5.9% | 8.5% | 12% | 11.7% | 9.4% | - |
| Value Creation Index ⓘ | -0.6 | -0.4 | -0.1 | -0.2 | -0.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||||
| Sales ⓘ | 19.9 | 29.1 | 29.2 | 45.9 | 50.4 | 50 |
| Sales YoY Gr. | - | 46.7% | 0.2% | 57.3% | 9.7% | - |
| Adj EPS ⓘ | 0.2 | 0.8 | 1.7 | 1.6 | 1.9 | 1.9 |
| YoY Gr. | - | 316.7% | 130.7% | -7.5% | 21.3% | - |
| BVPS (₹) ⓘ | 5.4 | 6.1 | 7.5 | 25.4 | 27.3 | 27.3 |
| Adj Net Profit ⓘ | 0.2 | 0.6 | 1.4 | 2 | 2.4 | 2 |
| Cash Flow from Ops. ⓘ | -10.7 | 4.5 | 2.9 | -12.6 | 3.7 | - |
| Debt/CF from Ops. ⓘ | -1.8 | 4.6 | 7 | -0.9 | 3.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 20% | 9.7% | ||||
| Adj EPS ⓘ | NA | NA | 37.3% | 21.3% | ||||
| BVPSⓘ | NA | NA | 64.8% | 7.6% | ||||
| Share Price | - | - | - | 64% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 3.4 | 13.1 | 25.5 | 10.6 | 7.4 | 7.1 |
| Op. Profit Mgn % ⓘ | 11.7 | 13.4 | 15.1 | 10.7 | 10.1 | NAN |
| Net Profit Mgn % ⓘ | 0.7 | 2.1 | 4.8 | 4.3 | 4.7 | 4.7 |
| Debt to Equity ⓘ | 4.4 | 4.2 | 3.3 | 0.4 | 0.4 | - |
| Working Cap Days ⓘ | 0 | 213 | 249 | 240 | 273 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 145 | 184 | 178 | 209 | 0 |
Sales growth is growing at healthy rate in last 3 years 20.01%
Net Profit is growing at healthy rate in last 3 years 37.27%
Debt to equity has declined versus last 3 years average to 0.40
Return on Equity has declined versus last 3 years average to 7.10%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 1.9 | - |
| TTM Sales (₹ Cr.) | 50.4 | - |
| BVPS (₹.) ⓘ | 27.3 | - |
| Reserves (₹ Cr.) ⓘ | 21 | - |
| P/BV ⓘ | 2.40 | - |
| PE ⓘ | 33.88 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 80.4 |
| Equity (₹ Cr.) | 12.3 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 29.1 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|
| Sales | 19.87 | 29.14 | 29.20 | 45.92 | 50.37 |
| Operating Expenses ⓘ | 17.54 | 25.25 | 24.78 | 41.02 | 45.29 |
| Manufacturing Costs | 0.61 | 1.33 | 1.33 | 1.65 | 1.75 |
| Material Costs | 16.15 | 21.18 | 21.82 | 36.57 | 40.67 |
| Employee Cost | 0.42 | 2.02 | 0.56 | 0.94 | 1.29 |
| Other Costs ⓘ | 0.36 | 0.71 | 1.07 | 1.86 | 1.58 |
| Operating Profit ⓘ | 2.33 | 3.89 | 4.42 | 4.90 | 5.08 |
| Operating Profit Margin (%) | 11.7% | 13.4% | 15.1% | 10.7% | 10.1% |
| Other Income ⓘ | 0.08 | 0.03 | 0.11 | 0.36 | 0.33 |
| Interest ⓘ | 1.18 | 1.43 | 1.35 | 1.28 | 1.14 |
| Depreciation ⓘ | 1.03 | 1.85 | 1.44 | 1.27 | 1.20 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 0.20 | 0.65 | 1.74 | 2.71 | 3.07 |
| Tax ⓘ | 0.05 | 0.04 | 0.30 | 0.69 | 0.69 |
| Profit After Tax | 0.15 | 0.61 | 1.44 | 2.02 | 2.37 |
| PAT Margin (%) | 0.7% | 2.1% | 4.9% | 4.4% | 4.7% |
| Adjusted EPS (₹) | 0.2 | 0.8 | 1.8 | 1.7 | 1.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 4.33 | 4.94 | 6.03 | 31.10 | 33.47 | |||||
| Share Capital ⓘ | 4.25 | 4.25 | 4.25 | 12.25 | 12.25 | |||||
| Reserves ⓘ | 0.08 | 0.69 | 1.78 | 18.85 | 21.22 | |||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | |||||
| Debt | 18.72 | 18.92 | 18.33 | 10.87 | 13.54 | |||||
| Long Term Debt | 12.46 | 10.05 | 9.79 | 2.16 | 2.14 | |||||
| Short Term Debt | 6.26 | 8.87 | 8.54 | 8.71 | 11.39 | |||||
| Trade Payables | 0.84 | 1.47 | 1.72 | 2.74 | 1.90 | |||||
| Others Liabilities ⓘ | 0.41 | 1.81 | 2.59 | 1.25 | 1.96 | |||||
| Total Liabilities ⓘ | 24.30 | 27.13 | 28.67 | 45.95 | 50.88 | |||||
Fixed Assets | ||||||||||
| Gross Block | 9.88 | 10.87 | 11.92 | 12.11 | 18.67 | |||||
| Accumulated Depreciation | 1.03 | 2.88 | 4.32 | 5.60 | 6.80 | |||||
| Net Fixed Assetsⓘ | 8.85 | 7.99 | 7.60 | 6.51 | 11.86 | |||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | |||||
| Investmentsⓘ | 0.21 | 0.22 | 0 | 0 | 0 | |||||
| Inventories | 11.49 | 8.30 | 8.68 | 11.26 | 12.28 | |||||
| Trade Receivables | 1.52 | 4.80 | 10.46 | 19.35 | 20.03 | |||||
| Cash Equivalents | 0.07 | 0.14 | 0.05 | 0.03 | 3.14 | |||||
| Others Assetsⓘ | 2.16 | 5.67 | 1.88 | 8.80 | 3.57 | |||||
| Total Assets ⓘ | 24.30 | 27.13 | 28.67 | 45.95 | 50.88 | |||||
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -10.66 | 4.47 | 2.85 | -12.57 | 3.66 |
| PBT ⓘ | 0.20 | 0.65 | 1.74 | 2.71 | 3.07 |
| Adjustment ⓘ | 2.18 | 3.26 | 2.79 | 2.53 | 2.34 |
| Changes in Working Capital ⓘ | -13.05 | 0.57 | -1.41 | -17.06 | -1 |
| Tax Paid ⓘ | 0 | 0 | -0.27 | -0.75 | -0.75 |
| Cash Flow From Investing Activity ⓘ | -7.76 | -0.99 | -1.31 | -0.13 | -2.08 |
| Capex | -7.79 | -1.01 | -1.09 | -0.14 | -2.08 |
| Net Investments | 0 | 0 | -0.22 | 0 | 0 |
| Others ⓘ | 0.02 | 0.02 | 0 | 0.02 | 0 |
| Cash Flow From Financing Activityⓘ | 18.49 | -3.42 | -1.87 | 12.68 | 1.53 |
| Net Proceeds from Shares ⓘ | 4.24 | 0 | 0 | 23.05 | 0 |
| Net Proceeds from Borrowing ⓘ | 10.16 | -2.42 | 0 | 0 | 0 |
| Interest Paid ⓘ | -1.18 | -1.43 | -1.35 | -1.28 | -1.14 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 5.26 | 0.43 | -0.52 | -9.09 | 2.67 |
| Net Cash Flow ⓘ | 0.06 | 0.07 | -0.33 | -0.02 | 3.11 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 3.35 | 13.09 | 26.26 | 10.87 | 7.35 | |||||
| ROCE (%) | 5.92 | 8.51 | 12.02 | 11.74 | 9.44 | |||||
| Asset Turnover Ratio | 0.82 | 1.13 | 1.05 | 1.23 | 1.04 | |||||
| PAT to CFO Conversion(x) | -71.07 | 7.33 | 1.98 | -6.22 | 1.54 | Working Capital Days | ||||
| Receivable Days | 28 | 40 | 95 | 119 | 143 | |||||
| Inventory Days | 211 | 124 | 106 | 79 | 85 | |||||
| Payable Days | 19 | 20 | 27 | 22 | 21 | |||||
The company was originally incorporated as “Viaz Tubes Private Limited” as a Private Limited Company under the provisions of the Companies Act, 2013 vide Certificate of Incorporation dated August 29, 2018, issued by the Registrar of Companies, Central Registration Centre. Pursuant to a special resolution passed by its Shareholders in the ExtraOrdinary General Meeting held on May 20, 2022, the name of the Company was changed to “Viaz Tyres Private Limited” and a fresh certificate of incorporation dated May 23, 2022 was issued to the Company by the Registrar of Companies, Ahmedabad. Subsequently, pursuant to a special resolution passed by the company’s Shareholders in the Extra-Ordinary General Meeting held on May 25, 2022, the company was converted from a private limited company to public limited company and consequently, the name of the company was changed to “Viaz Tyres Limited” and a fresh certificate of incorporation dated June 14, 2022 was issued to the Company by the Registrar of Companies, Ahmedabad.
The company is engaged in manufacturing of rubber tubes for bicycles, two and three wheeleres, passenger vehicles and heavy load industrial vehicles. It also deals in ancillary products like Off The Road (OTR) Tyre tubes and Animal Driven Vehicle (ADV) Tubes, Engine Oil and Grease on white labeling bases. Further, it has recently started selling bicycle tyres which it get manufactured on job work basis, depending upon the market demands. It sells rubber tubes, bicycle tyres and ancillary products under the brand names. It sells its products in domestic as well as international markets. In order to capture more market share the company is developing alternate brand.
The company has recently ventured into trading of Tyres through exclusive distributorship of Maxxis Rubbers for Turkey. It has exclusive distributorship for selling tyres in the brand name Maxxis Rubbers, for the territorial limits of Turkey. It has started the said business operations in the financial year 2022-23. The company has state-of-the-art infrastructure with latest production facility located at Nandasan near Ahmedabad, Gujarat India. Its production facility is latest and updated with employee and environment friendly measures.
Business area of the company
The company offers variety of Butyl Rubber Tubes in all sizes. Butyl rubber tubes manufactured by the company is suitable for tyre of vehicles like two-wheeler, three-wheeler, cars, jeeps, heavy commercial vehicle such as buses, trucks, tractor, ADV etc.
Products:
Major events
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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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Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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