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Last Updated on: 23 April, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 541178 | NSE: BENARA

Fundamental Analysis of Benara Bearings & Pistons Ltd

Basic Stock Data

Last Updated: April 23, 2024, 9:50 am

Market Cap 27.8 Cr.
Current Price 15.7
High / Low26.8/12.0
Stock P/E
Book Value 11.7
Dividend Yield0.00 %
ROCE11.3 %
ROE31.7 %
Face Value 10.0

Data Source: screener.in

Competitors of Benara Bearings & Pistons Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Schaeffler India Ltd 51,245 Cr. 3,2803,726/2,61256.3 3080.79 %26.7 %20.0 % 2.00
NRB Bearings Ltd 3,050 Cr. 315402/13028.1 69.21.62 %16.6 %16.1 % 2.00
Menon Bearings Ltd 701 Cr. 125166/10024.7 24.01.80 %32.1 %26.6 % 1.00
SKF India Ltd 22,770 Cr. 4,6055,535/4,02445.6 4830.87 %34.5 %24.8 % 10.0
Timken India Ltd 23,488 Cr. 3,1213,576/2,49066.1 2940.05 %28.0 %21.1 % 10.0
Industry Average20,250.80 Cr2,289.2044.16235.641.03%27.58%21.72%5.00

Quarterly Result

MonthMar 2019Sep 2019Mar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023
Sales56.3560.5049.2924.8016.7913.2412.6910.828.859.04
Expenses50.2955.7447.6430.2022.6713.9624.8014.9513.6410.45
Operating Profit6.064.761.65-5.40-5.88-0.72-12.11-4.13-4.79-1.41
OPM %10.75%7.87%3.35%-21.77%-35.02%-5.44%-95.43%-38.17%-54.12%-15.60%
Other Income-0.760.870.270.020.120.130.040.340.210.17
Interest2.142.271.832.483.012.542.010.070.120.01
Depreciation0.820.861.471.531.491.170.931.390.280.69
Profit before tax2.342.50-1.38-9.39-10.26-4.30-15.01-5.25-4.98-1.94
Tax %-11.54%27.60%21.01%0.00%49.81%34.19%25.78%26.10%9.84%18.56%
Net Profit2.601.81-1.09-9.39-5.15-2.83-11.14-3.89-4.49-1.58
EPS in Rs1.471.02-0.62-5.30-2.91-1.60-6.29-2.20-2.54-0.89

Last Updated: April 10, 2024, 6:21 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: April 6, 2024, 9:37 am

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales46.9049.6051.5671.6980.00104.06105.13114.20109.7841.5425.8819.6717.89
Expenses43.1045.8246.4865.9574.9893.4895.05105.77102.5252.8138.7028.6024.09
Operating Profit3.803.785.085.745.0210.5810.088.437.26-11.27-12.82-8.93-6.20
OPM %8.10%7.62%9.85%8.01%6.28%10.17%9.59%7.38%6.61%-27.13%-49.54%-45.40%-34.66%
Other Income0.070.270.410.120.240.260.171.320.290.140.170.550.38
Interest2.502.954.514.213.253.783.653.684.105.494.560.190.13
Depreciation0.680.770.950.960.850.721.061.242.323.032.101.670.97
Profit before tax0.690.330.030.691.166.345.544.831.13-19.65-19.31-10.24-6.92
Tax %31.88%33.33%33.33%33.33%35.34%28.39%35.74%14.08%34.51%26.01%27.60%18.07%
Net Profit0.470.230.030.460.764.553.554.150.73-14.54-13.97-8.38-6.07
EPS in Rs2.350.920.121.842.4514.692.002.340.41-8.21-7.89-4.73-3.43
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%10.67%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-51.06%-86.96%1433.33%65.22%498.68%-21.98%16.90%-82.41%-2091.78%3.92%40.01%
Change in YoY Net Profit Growth (%)0.00%-35.89%1520.29%-1368.12%433.47%-520.66%38.88%-99.31%-2009.37%2095.70%36.09%

Growth

Compounded Sales Growth
10 Years:-9%
5 Years:-28%
3 Years:-44%
TTM:-24%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:60%
Stock Price CAGR
10 Years:%
5 Years:-10%
3 Years:19%
1 Year:-4%
Return on Equity
10 Years:-7%
5 Years:-13%
3 Years:-32%
Last Year:-32%

Last Updated: April 15, 2024, 6:59 am

Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital2.002.502.502.503.103.1017.7117.7117.7117.7117.7117.7117.71
Reserves7.498.828.859.2012.3616.9239.3540.9141.4326.8912.924.532.96
Borrowings20.2933.7534.8123.8228.2134.5839.1141.0550.9660.3264.0261.4560.57
Other Liabilities6.866.888.148.327.856.5917.4915.4519.3329.546.956.317.39
Total Liabilities36.6451.9554.3043.8451.5261.19113.66115.12129.43134.46101.6090.0088.63
Fixed Assets3.764.534.684.126.916.569.7518.1721.3618.6215.7414.1712.17
CWIP0.000.000.000.000.000.000.000.000.000.000.000.000.00
Investments0.000.000.000.000.220.270.270.270.270.270.270.270.27
Other Assets32.8847.4249.6239.7244.3954.36103.6496.68107.80115.5785.5975.5676.19
Total Assets36.6451.9554.3043.8451.5261.19113.66115.12129.43134.46101.6090.0088.63

Reserves and Borrowings Chart

Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 0.0015.213.36-3.154.07-11.57-1.71-3.59-0.182.47
Cash from Investing Activity 0.00-0.40-3.62-0.16-6.80-20.15-3.16-0.290.680.05
Cash from Financing Activity 0.00-15.243.722.9733.48-1.985.843.10-0.96-2.76
Net Cash Flow0.00-0.433.45-0.3430.75-33.710.97-0.77-0.45-0.24

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow-16.49-29.97-29.73-18.08-23.19-24.00-29.03-32.62-43.70-71.59-76.84-70.38

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days72.4690.0781.4153.1535.8660.7585.89131.49155.93186.81181.94106.88
Inventory Days261.16352.02339.33155.04138.63935.852,430.83541.69621.82217.13250.45469.63
Days Payable41.2055.6758.4327.1722.8052.82889.64184.54249.7374.7136.6451.35
Cash Conversion Cycle292.41386.42362.31181.03151.69943.771,627.08488.64528.03329.23395.74525.16
Working Capital Days180.40291.41287.70151.52143.49152.05160.26204.90228.55298.31352.87406.75
ROCE %11.16%8.76%9.76%12.02%11.14%20.60%12.08%9.75%4.99%-13.17%-14.78%-11.27%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters69.91%69.91%69.91%69.91%69.91%69.91%69.92%69.92%69.92%69.92%69.92%69.92%
Public30.09%30.09%30.09%30.09%30.09%30.09%30.08%30.09%30.08%30.08%30.09%30.09%
No. of Shareholders435436436448456451452473469469498507

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)-4.81-8.11-8.420.272.13
Diluted EPS (Rs.)-4.81-8.11-8.420.272.13
Cash EPS (Rs.)-3.64-6.77-6.461.783.04
Book Value[Excl.RevalReserv]/Share (Rs.)12.1917.0025.1133.5233.37
Book Value[Incl.RevalReserv]/Share (Rs.)12.1917.0025.1133.5233.37
Revenue From Operations / Share (Rs.)11.1114.6423.4962.4965.14
PBDIT / Share (Rs.)-4.78-7.22-6.404.786.07
PBIT / Share (Rs.)-5.95-8.55-8.353.265.16
PBT / Share (Rs.)-6.07-11.13-11.450.482.49
Net Profit / Share (Rs.)-4.81-8.11-8.410.262.13
NP After MI And SOA / Share (Rs.)-4.81-8.11-8.410.262.13
PBDIT Margin (%)-42.99-49.28-27.257.659.31
PBIT Margin (%)-53.52-58.38-35.555.227.92
PBT Margin (%)-54.62-75.99-48.750.773.82
Net Profit Margin (%)-43.31-55.35-35.800.423.27
NP After MI And SOA Margin (%)-43.31-55.35-35.800.423.27
Return on Networth / Equity (%)-39.47-47.67-33.500.796.39
Return on Capital Employeed (%)-26.44-27.24-16.557.2311.84
Return On Assets (%)-9.42-14.04-10.990.383.18
Long Term Debt / Equity (X)0.790.780.570.320.28
Total Debt / Equity (X)2.882.061.310.830.67
Asset Turnover Ratio (%)0.200.210.320.910.91
Current Ratio (X)0.640.831.152.152.14
Quick Ratio (X)0.250.410.651.241.26
Inventory Turnover Ratio (X)0.870.911.030.610.70
Dividend Payout Ratio (NP) (%)0.000.000.0045.670.00
Dividend Payout Ratio (CP) (%)0.000.000.006.780.00
Earning Retention Ratio (%)0.000.000.0054.330.00
Cash Earning Retention Ratio (%)0.000.000.0093.220.00
Interest Coverage Ratio (X)-39.24-2.80-2.061.722.92
Interest Coverage Ratio (Post Tax) (X)-38.54-2.14-1.711.102.31
Enterprise Value (Cr.)80.5686.7974.0789.3286.54
EV / Net Operating Revenue (X)4.103.351.780.800.75
EV / EBITDA (X)-9.53-6.79-6.5310.558.05
MarketCap / Net Operating Revenue (X)0.940.970.400.370.41
Retention Ratios (%)0.000.000.0054.320.00
Price / BV (X)0.860.840.370.690.80
Price / Net Operating Revenue (X)0.940.970.400.370.41
EarningsYield-0.45-0.56-0.890.010.07

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 56.75

The stock is undervalued by 261.44% compared to the current price ₹15.7

Calculation basis:

  • Fair value = (P/E Ratio * (Return on Equity / 100) * Book Value) * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
    1. The stock has a low average ROCE of 5.09%, which may not be favorable.
    2. The stock has a high average Working Capital Days of 238.18, which may not be favorable.
    3. The stock has a high average Cash Conversion Cycle of 382.12, which may not be favorable.
    4. The company has higher borrowings (42.53) compared to reserves (17.89), which may suggest financial risk.
    5. The company has not shown consistent growth in sales (64.45) and profit (-2.72).

    Stock Analysis

    • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Benara Bearings & Pistons Ltd:
      1. Net Profit Margin: -43.31%
        • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
      2. ROCE: -26.44% (Industry Average ROCE: 26.11%)
        • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
      3. ROE%: -39.47% (Industry Average ROE: 20.06%)
        • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
      4. Interest Coverage Ratio (Post Tax): -38.54
        • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
      5. Quick Ratio: 0.25
        • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
      6. ✓ Stock P/E of N/A (Industry average Stock P/E: 42.78)
        • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
      7. Total Debt / Equity: 2.88
        • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
      The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
      Stock Rating: ★︎☆☆☆☆

    About the Company

    Benara Bearings & Pistons Ltd. is a Public Limited Listed company incorporated on 26/11/1990 and has its registered office in the State of Uttar Pradesh, India. Company’s Corporate Identification Number(CIN) is L50300UP1990PLC012518 and registration number is 012518. Currently company belongs to the Industry of Bearings. Company’s Total Operating Revenue is Rs. 25.93 Cr. and Equity Capital is Rs. 17.71 Cr. for the Year ended 31/03/2022.
    INDUSTRYADDRESSCONTACT
    BearingsA 3 & 4, Site- B, Industrial Area, Agra Uttar Pradesh 285007cs@benara-phb.com
    http://www.benara-phb.com
    Management
    NamePosition Held
    Mr. Panna Lal JainChairman
    Mr. Vivek BenaraManaging Director
    Mrs. Nirmala Devi JainNon Executive Director
    Mr. Akhil Kumar JainAdditional Director
    Mr. Avinash KashyapIndependent Director

    Benara Bearings & Pistons Ltd. Share Price Update

    Share PriceValue
    Today₹15.70
    Previous Day₹14.96

    FAQ

    What is the latest fair value of Benara Bearings & Pistons Ltd?

    The latest fair value of Benara Bearings & Pistons Ltd is 56.75.

    What is the Market Cap of Benara Bearings & Pistons Ltd?

    The Market Cap of Benara Bearings & Pistons Ltd is 27.8 Cr..

    What is the current Stock Price of Benara Bearings & Pistons Ltd as on 23 April 2024?

    The current stock price of Benara Bearings & Pistons Ltd as on 23 April 2024 is 15.7.

    What is the High / Low of Benara Bearings & Pistons Ltd stocks in FY 2024?

    In FY 2024, the High / Low of Benara Bearings & Pistons Ltd stocks is ₹26.8/12.0.

    What is the Stock P/E of Benara Bearings & Pistons Ltd?

    The Stock P/E of Benara Bearings & Pistons Ltd is .

    What is the Book Value of Benara Bearings & Pistons Ltd?

    The Book Value of Benara Bearings & Pistons Ltd is 11.7.

    What is the Dividend Yield of Benara Bearings & Pistons Ltd?

    The Dividend Yield of Benara Bearings & Pistons Ltd is 0.00 %.

    What is the ROCE of Benara Bearings & Pistons Ltd?

    The ROCE of Benara Bearings & Pistons Ltd is 11.3 %.

    What is the ROE of Benara Bearings & Pistons Ltd?

    The ROE of Benara Bearings & Pistons Ltd is 31.7 %.

    What is the Face Value of Benara Bearings & Pistons Ltd?

    The Face Value of Benara Bearings & Pistons Ltd is 10.0.

    About the Author

    Author Avatar
    Getaka

    Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

    Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Benara Bearings & Pistons Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE