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Last Updated on: 04 March, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of PPAP Automotive Ltd

About the Company - PPAP Automotive Ltd

PPAP Automotive Ltd. is a Public Limited Listed company incorporated on 18/10/1995 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L74899DL1995PLC073281 and registration number is 073281. Currently Company is involved in the business activities of Manufacture of parts and accessories of bodies for motor vehicles such as safety belts, airbags, doors, bumpers. Company’s Total Operating Revenue is Rs. 409.07 Cr. and Equity Capital is Rs. 14.00 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Auto Ancl - Others50, Okhla Industrial Estate, Phase- III, Delhi Delhi 110020investorservice@ppapco.com
http://www.ppapco.in
Management
NamePosition Held
Mr. Ajay Kumar JainChairman & Managing Director
Mr. Abhishek JainManaging Director & CEO
Mrs. Vinay Kumari JainNon Executive Director
Mrs. Celine GeorgeIndependent Director
Mr. Bhuwan Kumar ChaturvediIndependent Director
Mr. Pravin Kumar GuptaIndependent Director
Mr. Deepak Kumar SethiIndependent Director

PPAP Automotive Ltd. Share Price Update

Share PriceValue
Today₹242.05
Previous Day₹237.00

Basic Stock Data of PPAP Automotive Ltd

Market Cap 293 Cr.
Current Price 209
High / Low295/148
Stock P/E
Book Value 209
Dividend Yield0.72 %
ROCE1.58 %
ROE2.02 %
Face Value 10.0

Data Source: screener.in

Competitors of PPAP Automotive Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Shivam Autotech Ltd 568 Cr. 46.549.8/20.4 6.450.00 %3.23 %28.5 % 2.00
Sandhar Technologies Ltd 3,163 Cr. 525599/18632.2 1590.47 %8.70 %8.01 % 10.0
Minda Corporation Ltd 10,361 Cr. 433450/18537.2 78.50.28 %16.5 %19.6 % 2.00
Munjal Auto Industries Ltd 892 Cr. 89.2115/35.626.2 38.82.20 %8.71 %5.96 % 2.00
Akar Auto Industries Ltd 137 Cr. 127170/61.818.7 39.10.40 %17.6 %19.1 % 5.00
Industry Average3,024.20 Cr244.1422.8664.370.67%10.95%16.23%4.20

PPAP Automotive Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales83.08107.33114.1278.75105.94114.61122.62123.22128.50127.12132.27116.45148.40
Expenses70.9090.9098.2676.2995.00103.63111.91112.23118.04120.60123.91110.18136.35
Operating Profit12.1816.4315.862.4610.9410.9810.7110.9910.466.528.366.2712.05
OPM %14.66%15.31%13.90%3.12%10.33%9.58%8.73%8.92%8.14%5.13%6.32%5.38%8.12%
Other Income0.260.671.670.180.180.350.300.550.310.440.491.680.49
Interest0.980.981.241.211.441.852.002.472.963.323.373.743.45
Depreciation6.556.756.667.187.307.667.337.637.707.718.088.228.63
Profit before tax4.919.379.63-5.752.381.821.681.440.11-4.07-2.60-4.010.46
Tax %24.44%24.12%27.00%22.61%29.83%37.36%48.81%59.72%636.36%9.83%12.31%31.42%-17.39%
Net Profit3.717.117.03-4.451.671.140.860.58-0.58-3.67-2.28-2.750.54
EPS in Rs2.655.085.02-3.181.190.810.610.41-0.41-2.62-1.63-1.960.39

PPAP Automotive Ltd Quarterly Chart

PPAP Automotive Ltd Profit & Loss

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales319343398404359322422511519
Expenses265277313327309290386474484
Operating Profit536785775032363735
OPM %17%19%21%19%14%10%8%7%7%
Other Income154102113
Interest86543471214
Depreciation252426262626293134
Profit before tax224159492230-5-10
Tax %35%32%33%30%17%35%708%-16%
Net Profit14283934182-1-6-7
EPS in Rs10.0219.9728.0824.1013.001.50-0.56-4.24-5.11
Dividend Payout %20%15%16%19%23%67%-266%-35%

PPAP Automotive Ltd Profit & Loss Yearly Chart

PPAP Automotive Ltd Growth

Compounded Sales Growth
10 Years:%
5 Years:5%
3 Years:12%
TTM:4%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-155%
Stock Price CAGR
10 Years:15%
5 Years:-7%
3 Years:-5%
1 Year:6%
Return on Equity
10 Years:%
5 Years:3%
3 Years:-1%
Last Year:-2%

PPAP Automotive Ltd Balance Sheet

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital141414141414141414
Reserves192223256281289292290281279
Borrowings745230252252110152158
Other Liabilities4864879580858610298
Total Liabilities328353386415406443500548549
Fixed Assets217197211237230244284319316
CWIP13122820211116
Investments24949494846464243
Other Assets108103115127119133148177174
Total Assets328353386415406443500548549

PPAP Automotive Ltd Reserves and Borrowings Chart

PPAP Automotive Ltd Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 4170785936262131
Cash from Investing Activity -24-43-45-43-27-49-71-58
Cash from Financing Activity -18-25-33-17-6214928
Net Cash Flow-12-1-13-2-10

PPAP Automotive Ltd Financial Efficiency Indicators

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days4652515241684846
Inventory Days8447618296928897
Days Payable4849607381987681
Cash Conversion Cycle8249516056626063
Working Capital Days5131182736515150
ROCE %17%22%17%8%2%2%2%

PPAP Automotive Ltd Financial Efficiency Indicators Chart

PPAP Automotive Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters64.52%64.78%64.87%64.87%64.87%64.87%64.87%64.88%65.01%65.01%65.01%65.01%
FIIs0.00%0.37%1.06%2.59%4.41%5.85%5.74%5.78%5.73%5.70%5.70%5.70%
Public35.48%34.85%34.07%32.54%30.72%29.28%29.39%29.34%29.28%29.30%29.30%29.30%
No. of Shareholders19,53919,91420,61021,26919,92019,14518,73817,96716,72816,41416,86016,482

PPAP Automotive Ltd Shareholding Pattern Chart

No. of PPAP Automotive Ltd Shareholders

This stock is not held by any mutual fund

PPAP Automotive Ltd ROCE Trend

PPAP Automotive Ltd EPS Trend

PPAP Automotive Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)-4.25-0.561.5013.0024.10
Diluted EPS (Rs.)-4.25-0.561.5013.0024.10
Cash EPS (Rs.)23.4322.9821.4932.0242.44
Book Value[Excl.RevalReserv]/Share (Rs.)210.53217.06218.70216.59211.01
Book Value[Incl.RevalReserv]/Share (Rs.)210.53217.06218.70216.59211.01
Revenue From Operations / Share (Rs.)365.08301.37230.14256.79293.56
PBDIT / Share (Rs.)32.4028.2825.0036.6555.91
PBIT / Share (Rs.)10.177.236.1018.2737.34
PBT / Share (Rs.)1.792.593.4016.3934.45
Net Profit / Share (Rs.)1.201.932.5913.6523.87
NP After MI And SOA / Share (Rs.)-4.25-0.561.5013.0024.10
PBDIT Margin (%)8.879.3810.8614.2719.04
PBIT Margin (%)2.782.402.647.1112.71
PBT Margin (%)0.490.851.476.3811.73
Net Profit Margin (%)0.320.641.125.318.13
NP After MI And SOA Margin (%)-1.16-0.180.655.068.20
Return on Networth / Equity (%)-2.01-0.250.686.0011.42
Return on Capital Employeed (%)3.682.552.347.7116.10
Return On Assets (%)-1.08-0.150.474.488.12
Long Term Debt / Equity (X)0.270.250.140.030.04
Total Debt / Equity (X)0.510.350.140.070.05
Asset Turnover Ratio (%)0.970.870.750.871.03
Current Ratio (X)1.031.311.491.431.29
Quick Ratio (X)0.550.760.910.760.79
Inventory Turnover Ratio (X)5.045.553.914.205.72
Dividend Payout Ratio (NP) (%)-58.87-177.570.0042.2918.67
Dividend Payout Ratio (CP) (%)13.904.880.0017.5210.54
Earning Retention Ratio (%)158.87277.570.0057.7181.33
Cash Earning Retention Ratio (%)86.1095.120.0082.4889.46
Interest Coverage Ratio (X)3.876.099.2519.4719.34
Interest Coverage Ratio (Post Tax) (X)1.141.421.968.259.26
Enterprise Value (Cr.)368.24373.58321.82216.04417.56
EV / Net Operating Revenue (X)0.720.880.990.601.02
EV / EBITDA (X)8.129.439.194.215.33
MarketCap / Net Operating Revenue (X)0.420.630.860.550.97
Retention Ratios (%)158.87277.570.0057.7081.32
Price / BV (X)0.740.870.910.661.36
Price / Net Operating Revenue (X)0.420.630.860.550.97
EarningsYield-0.020.000.010.090.08

PPAP Automotive Ltd Profitability Ratios (%)

PPAP Automotive Ltd Liquidity Ratios

PPAP Automotive Ltd Liquidity Ratios (%)

PPAP Automotive Ltd Interest Coverage Ratios (%)

PPAP Automotive Ltd Valuation Ratios

Fair Value / Intrinsic Value of PPAP Automotive Ltd

Fair Value: ₹63.78

The stock is overvalued by 69.48% compared to the current price ₹209

*Investments are subject to market risks

Strength and Weakness of PPAP Automotive Ltd

StrengthWeakness
  1. The company has higher reserves (264.78 cr) compared to borrowings (75.00 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (399.67 cr) and profit (20.11 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 15.82 and average Dividend Yield of 5.53%.
  2. The stock has a low average ROCE of 8.75%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 39.38, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 60.38, which may not be favorable.

Should I Buy Shivam Autotech Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in PPAP Automotive Ltd:
    1. Net Profit Margin: 0.32%
      • 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: 3.68% (Industry Average ROCE: 15.89%)
      • 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. Interest Coverage Ratio (Post Tax): 1.14
      • 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.
    4. Quick Ratio: 0.55
      • 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.
    5. ✓ Stock P/E of N/A (Industry average Stock P/E: 49.9)
      • 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.
    6. ✓ Total Debt / Equity: 0.51
      • 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 suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

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 PPAP Automotive 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