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Last Updated on: 26 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

India Motor Parts & Accessories Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 26, 2024, 9:52 pm

Market Cap 1,453 Cr.
Current Price 1,179
High / Low1,503/895
Stock P/E18.8
Book Value 2,018
Dividend Yield2.29 %
ROCE4.49 %
ROE3.66 %
Face Value 10.0
PEG Ratio1.95

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for India Motor Parts & Accessories Ltd

Competitors of India Motor Parts & Accessories Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Industry Average0 Cr0000%0.59%0.49%0

All Competitor Stocks of India Motor Parts & Accessories Ltd

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales161116163177172184171186166190177182
Expenses141107149162152168158171148176164169
Operating Profit19814152016141518151313
OPM %12%7%9%8%11%9%8%8%11%8%8%7%
Other Income635261113146127
Interest000000000000
Depreciation000000000000
Profit before tax251119162517251833212519
Tax %26%10%21%27%20%14%18%27%20%15%17%23%
Net Profit191015122014201326182115
EPS in Rs14.947.8011.889.6116.2411.4616.1610.5620.8514.0616.6111.94

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales501495512512502519476512519518628708720
Expenses460459474477471484440469484474571645659
Operating Profit42363735313535423544576261
OPM %8%7%7%7%6%7%7%8%7%9%9%9%8%
Other Income566107119162622153036
Interest0000000000000
Depreciation1111111111111
Profit before tax46424344384644576065719296
Tax %29%34%31%29%29%30%29%29%19%23%20%20%
Net Profit32273031273231404950577477
EPS in Rs26.0121.7623.6424.8021.3725.7224.8632.3339.1840.2945.5259.0362.08
Dividend Payout %25%28%25%38%28%28%29%37%26%25%29%41%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-15.62%11.11%3.33%-12.90%18.52%-3.12%29.03%22.50%2.04%14.00%29.82%
Change in YoY Net Profit Growth (%)0.00%26.74%-7.78%-16.24%31.42%-21.64%32.16%-6.53%-20.46%11.96%15.82%

India Motor Parts & Accessories Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2012-2013 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:4%
5 Years:7%
3 Years:12%
TTM:2%
Compounded Profit Growth
10 Years:8%
5 Years:12%
3 Years:16%
TTM:0%
Stock Price CAGR
10 Years:9%
5 Years:15%
3 Years:15%
1 Year:25%
Return on Equity
10 Years:4%
5 Years:4%
3 Years:4%
Last Year:4%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 11:32 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital8888888121212121212
Reserves1681892062237398701,0029231,4201,2101,3512,0522,506
Borrowings271516131219141405000
Other Liabilities334046465854107102188126132239315
Total Liabilities2362522762918189521,1301,0511,6211,3541,4962,3032,834
Fixed Assets991111141315151414171717
CWIP0000000000000
Investments6175941146737949648601,4091,1621,2882,0662,581
Other Assets166168171165131145152177197178192220235
Total Assets2362522762918189521,1301,0511,6211,3541,4962,3032,834

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +22222032231315290-33126
Cash from Investing Activity +-2-9-12-14-57-5-540-71-6413
Cash from Financing Activity +-4-15-11-21-51-17-33-14-7-33-30
Net Cash Flow15-2-3-3-408-695-1729

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow42.009.0022.0019.0018.0023.0016.0028.0021.0044.0052.0062.00

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 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days403937404150525453524648
Inventory Days373840403746475142485046
Days Payable191922303437372862423536
Cash Conversion Cycle585855514360627734576058
Working Capital Days514748474557607736545554
ROCE %22%20%19%16%7%5%5%5%4%5%6%4%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters30.72%30.72%30.72%30.72%30.71%30.71%30.71%30.71%30.71%30.71%30.71%30.71%
FIIs0.00%0.00%0.00%0.00%7.53%7.59%7.86%7.96%7.96%7.96%8.04%8.08%
DIIs10.00%10.00%10.00%10.00%2.49%2.49%2.49%2.49%2.49%2.49%2.49%2.49%
Public59.28%59.28%59.28%59.28%59.26%59.20%58.93%58.83%58.83%58.83%58.75%58.71%
No. of Shareholders9,4518,9848,7338,6068,7218,5648,5958,8629,2009,8459,7039,937

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)59.2360.2148.6842.4439.76
Diluted EPS (Rs.)59.2360.2148.6842.4439.76
Cash EPS (Rs.)60.1860.9546.7141.7340.59
Book Value[Excl.RevalReserv]/Share (Rs.)1658.791096.25989.471155.25752.46
Book Value[Incl.RevalReserv]/Share (Rs.)1658.791096.25989.471155.25752.46
Revenue From Operations / Share (Rs.)593.88581.67517.70425.90426.64
PBDIT / Share (Rs.)73.8975.8458.7454.1849.73
PBIT / Share (Rs.)72.9575.1058.0953.4748.87
PBT / Share (Rs.)72.9375.1058.0353.4548.87
Net Profit / Share (Rs.)59.2360.2146.0641.0239.73
NP After MI And SOA / Share (Rs.)59.2360.2148.6842.3839.69
PBDIT Margin (%)12.4413.0311.3412.7211.65
PBIT Margin (%)12.2812.9111.2212.5511.45
PBT Margin (%)12.2812.9111.2012.5411.45
Net Profit Margin (%)9.9710.358.899.639.31
NP After MI And SOA Margin (%)9.9710.359.409.959.30
Return on Networth / Equity (%)3.575.494.923.675.27
Return on Capital Employeed (%)4.066.545.624.306.10
Return On Assets (%)3.195.004.433.244.68
Total Debt / Equity (X)0.000.000.000.000.01
Asset Turnover Ratio (%)0.380.500.420.380.47
Current Ratio (X)3.813.953.844.666.08
Quick Ratio (X)2.752.782.974.054.98
Dividend Payout Ratio (NP) (%)0.0036.5420.540.0055.42
Dividend Payout Ratio (CP) (%)0.0036.1020.270.0054.25
Earning Retention Ratio (%)0.0063.4679.460.0044.58
Cash Earning Retention Ratio (%)0.0063.9079.730.0045.75
Interest Coverage Ratio (X)4611.009465.00916.382254.000.00
Interest Coverage Ratio (Post Tax) (X)3697.007515.00719.631707.330.00
Enterprise Value (Cr.)1156.82725.89930.46786.56611.87
EV / Net Operating Revenue (X)1.560.991.441.481.15
EV / EBITDA (X)12.547.6712.6911.639.86
MarketCap / Net Operating Revenue (X)1.621.021.451.611.17
Retention Ratios (%)0.0063.4579.450.0044.57
Price / BV (X)0.570.540.760.590.66
Price / Net Operating Revenue (X)1.621.021.451.611.17
EarningsYield0.060.100.060.060.07

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of India Motor Parts & Accessories Ltd as of November 26, 2024 is: 1,420.34

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.

As of November 26, 2024, India Motor Parts & Accessories Ltd is Undervalued by 20.47% compared to the current share price 1,179.00

Intrinsic Value of India Motor Parts & Accessories Ltd as of November 26, 2024 is: 1,557.29

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • 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.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 26, 2024, India Motor Parts & Accessories Ltd is Undervalued by 32.09% compared to the current share price 1,179.00

Last 5 Year EPS CAGR: 9.64%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (989.15 cr) compared to borrowings (10.38 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (547.85 cr) and profit (57.23 cr) over the years.
  1. The stock has a low average ROCE of 9.83%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 52.58, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 56.08, which may not be favorable.

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 India Motor Parts & Accessories Ltd:
    1. Net Profit Margin: 9.97%
      • 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: 4.06% (Industry Average ROCE: 0.59%)
      • 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%: 3.57% (Industry Average ROE: 0.49%)
      • 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): 3697
      • 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: 2.75
      • 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: 18.8 (Industry average Stock P/E: 0)
      • 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: 0
      • 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 - Qualitative Analysis

India Motor Parts & Accessories Ltd. is a Public Limited Listed company incorporated on 12/07/1954 and has its registered office in the State of Tamil Nadu, India. Company’s Corporate Identification Number(CIN) is L65991TN1954PLC000958 and registration number is 000958. Currently Company is involved in the business activities of Sale of motor vehicle parts and accessories. Company’s Total Operating Revenue is Rs. 627.80 Cr. and Equity Capital is Rs. 12.48 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Trading & DistributorsSundaram Towers, III Floor, # 46, Whites Road, Chennai (Madras) Tamil Nadu 600014secy@impal.net
http://www.impal.net
Management
NamePosition Held
Mr. S RamChairman
Mr. N KrishnanManaging Director
Mr. Mukund S RaghavanDeputy Managing Director
Mr. Ananth RamanujamDirector
Mr. S PrasadDirector
Mr. Rasesh R DoshiDirector
Mr. S VenkatesanDirector
Mr. T N P DuraiDirector
Ms. Sriya ChariDirector
Mr. Srivats RamDirector

FAQ

What is the latest intrinsic value of India Motor Parts & Accessories Ltd?

The latest intrinsic value of India Motor Parts & Accessories Ltd as on 26 November 2024 is ₹1420.34, which is 20.47% higher than the current market price of ₹1,179.00.

What is the Market Cap of India Motor Parts & Accessories Ltd?

The Market Cap of India Motor Parts & Accessories Ltd is 1,453 Cr..

What is the current Stock Price of India Motor Parts & Accessories Ltd as on 26 November 2024?

The current stock price of India Motor Parts & Accessories Ltd as on 26 November 2024 is 1,179.

What is the High / Low of India Motor Parts & Accessories Ltd stocks in FY 2024?

In FY 2024, the High / Low of India Motor Parts & Accessories Ltd stocks is 1,503/895.

What is the Stock P/E of India Motor Parts & Accessories Ltd?

The Stock P/E of India Motor Parts & Accessories Ltd is 18.8.

What is the Book Value of India Motor Parts & Accessories Ltd?

The Book Value of India Motor Parts & Accessories Ltd is 2,018.

What is the Dividend Yield of India Motor Parts & Accessories Ltd?

The Dividend Yield of India Motor Parts & Accessories Ltd is 2.29 %.

What is the ROCE of India Motor Parts & Accessories Ltd?

The ROCE of India Motor Parts & Accessories Ltd is 4.49 %.

What is the ROE of India Motor Parts & Accessories Ltd?

The ROE of India Motor Parts & Accessories Ltd is 3.66 %.

What is the Face Value of India Motor Parts & Accessories Ltd?

The Face Value of India Motor Parts & Accessories 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 India Motor Parts & Accessories 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