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Last Updated on: 28 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Schaeffler India Ltd

About the Company - Schaeffler India Ltd

Schaeffler India Ltd. is a Public Limited Listed company incorporated on 27/04/1962 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L29130PN1962PLC204515 and registration number is 012340. Currently Company is involved in the business activities of Manufacture of bearings, gears, gearing and driving elements. Company’s Total Operating Revenue is Rs. 5560.51 Cr. and Equity Capital is Rs. 31.26 Cr. for the Year ended 31/12/2021.
INDUSTRYADDRESSCONTACT
Bearings15th Floor, Pune Maharashtra 411045info.in@schaeffler.com
http://www.schaeffler.co.in
Management
NamePosition Held
Ms. Eranti V SumithasriChairperson
Mr. Harsha KadamManaging Director & CEO
Mr. Satish PatelDirector - Finance & CFO
Mrs. Renu ChalluDirector
Mr. Arvind BalajiDirector
Mr. Andreas SchickDirector
Ms. Corinna SchittenhelmDirector
Mr. Dharmesh AroraDirector
Mr. Amit KalyaniDirector

Schaeffler India Ltd. Share Price Update

Share PriceValue
Today₹2,902.25
Previous Day₹2,922.70

Basic Stock Data of Schaeffler India Ltd

Market Cap 45,400 Cr.
Current Price 2,905
High / Low3,726/2,612
Stock P/E49.8
Book Value 308
Dividend Yield0.82 %
ROCE26.8 %
ROE20.0 %
Face Value 2.00

Data Source: screener.in

Competitors of Schaeffler India Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
NRB Bearings Ltd 3,104 Cr. 320402/12512.4 69.21.58 %16.6 %16.1 % 2.00
Timken India Ltd 20,242 Cr. 2,6913,576/2,65956.9 2940.06 %28.0 %21.1 % 10.0
SKF India Ltd 22,410 Cr. 4,5335,535/3,96044.8 4830.88 %34.5 %24.8 % 10.0
Menon Bearings Ltd 749 Cr. 134166/90.526.4 24.01.68 %32.1 %26.6 % 1.00
Industry Average11,626.25 Cr1,919.5035.13217.551.05%27.80%22.15%5.75

Schaeffler India Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales1,1211,2741,3171,2331,4881,5231,5681,7491,7561,7951,6941,8291,848
Expenses9311,0451,1041,0261,2231,2361,2591,4271,4371,4491,3791,4871,506
Operating Profit190229213207264287308322319345315342342
OPM %17%18%16%17%18%19%20%18%18%19%19%19%18%
Other Income13162213162220312318333131
Interest1211111111112
Depreciation49514848505150515253525456
Profit before tax153191186171230257277301290310294318316
Tax %26%26%25%25%26%26%25%25%26%25%25%25%26%
Net Profit113142140128171191207226215231219237235
EPS in Rs7.269.068.938.2010.9312.2013.2514.4413.7814.7814.0315.1815.03

Schaeffler India Ltd Quarterly Chart

Schaeffler India Ltd Profit & Loss

MonthDec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022TTM
Sales1,2671,4111,3901,6181,7111,7953,9414,5624,3613,7625,5616,8677,166
Expenses1,0121,1901,2061,3751,4051,4953,2573,8213,7263,2254,5885,5715,822
Operating Profit2542211842433062996837406355379731,2961,344
OPM %20%16%13%15%18%17%17%16%15%14%17%19%19%
Other Income314545405666554863607292113
Interest22123211846554
Depreciation233043496664138148159194197206215
Profit before tax2612331852322942995896325343978431,1771,237
Tax %33%32%34%34%33%35%34%34%31%27%25%25%
Net Profit176159122153197195388420368291629879923
EPS in Rs21.1819.1614.6618.4023.7623.4746.7526.8623.5218.6240.2556.2559.02
Dividend Payout %9%5%8%8%8%10%7%22%30%41%8%43%

Schaeffler India Ltd Profit & Loss Yearly Chart

Schaeffler India Ltd Growth

Compounded Sales Growth
10 Years:18%
5 Years:10%
3 Years:24%
TTM:5%
Compounded Profit Growth
10 Years:22%
5 Years:15%
3 Years:46%
TTM:5%
Stock Price CAGR
10 Years:24%
5 Years:22%
3 Years:41%
1 Year:-2%
Return on Equity
10 Years:17%
5 Years:17%
3 Years:20%
Last Year:20%

Schaeffler India Ltd Balance Sheet

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Equity Capital171717171717313131313131
Reserves8639731,0911,2731,4592,3092,6752,9313,1093,6224,2554,784
Borrowings000006958065615751
Other Liabilities2643443273663797861,0046839581,1821,3831,403
Total Liabilities1,1441,3331,4341,6551,8543,1803,7673,6454,1634,8965,7276,269
Fixed Assets2793993703463867447318951,0061,0701,1231,280
CWIP114132052245316216616089249491
Investments44400000000142
Other Assets7479171,0391,2581,4432,3832,8752,5842,9973,7374,3554,356
Total Assets1,1441,3331,4341,6551,8543,1803,7673,6454,1634,8965,7276,269

Schaeffler India Ltd Reserves and Borrowings Chart

Schaeffler India Ltd Cash Flow

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Cash from Operating Activity 137162117182193401238510649465751900
Cash from Investing Activity -172-52-195-222-139-270-184-366-432-342-535-611
Cash from Financing Activity -21-10-13-17-22-88-52-171-122-127-257-386
Net Cash Flow-56100-91-5732432-2795-4-41-97

Schaeffler India Ltd Financial Efficiency Indicators

MonthDec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Debtor Days626676657266596053675655
Inventory Days7857697081929211696112115107
Days Payable857298798991911006612010295
Cash Conversion Cycle555148566467607682596866
Working Capital Days486352756963576866525456
ROCE %40%29%20%22%25%22%31%26%19%13%25%29%

Schaeffler India Ltd Financial Efficiency Indicators Chart

Schaeffler India Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters74.13%74.13%74.13%74.13%74.13%74.13%74.13%74.13%74.13%74.13%74.13%74.13%
FIIs5.17%4.78%4.99%5.16%5.05%4.94%5.74%4.81%4.40%4.04%4.51%4.36%
DIIs15.28%15.79%15.55%15.19%15.23%15.34%14.19%15.04%15.57%15.87%15.46%15.68%
Government0.00%0.00%0.00%0.00%0.16%0.17%0.00%0.00%0.00%0.00%0.00%0.00%
Public5.42%5.31%5.33%5.53%5.43%5.42%5.95%6.02%5.90%5.95%5.88%5.83%
No. of Shareholders15,94115,08717,60722,21432,54240,37565,73155,46257,45263,92968,18970,695

Schaeffler India Ltd Shareholding Pattern Chart

No. of Schaeffler India Ltd Shareholders

Schaeffler India Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Kotak Emerging Equity Fund - Regular Plan37204633.091191.66
Axis Midcap Fund17493422.28560.31
SBI Magnum Midcap Fund16237403.36520.08
SBI Blue Chip Fund13148700.97421.15
UTI Flexi Cap Fund10823571.31346.68
DSP Mid Cap Fund7375741.41236.25
Kotak Equity Opportunities Fund - Regular Plan7350001.32235.42
Kotak Small Cap Fund - Regular Plan6330331.44202.76
Canara Robeco Emerging Equities4893250.79156.73
UTI Mid Cap Fund4654321.52149.08

Schaeffler India Ltd ROCE Trend

Schaeffler India Ltd EPS Trend

Schaeffler India Ltd Key Financial Ratios

MonthDec 22Dec 21Dec 20Dec 19Dec 18
FaceValue2.0010.0010.0010.0010.00
Basic EPS (Rs.)56.30201.3093.10117.60134.30
Diluted EPS (Rs.)56.30201.3093.10117.60134.30
Cash EPS (Rs.)69.46264.31155.13168.38181.80
Book Value[Excl.RevalReserv]/Share (Rs.)274.211168.801004.57947.59865.68
Book Value[Incl.RevalReserv]/Share (Rs.)274.211168.801004.57947.59865.68
Dividend / Share (Rs.)24.0080.0038.0035.0030.00
Revenue From Operations / Share (Rs.)439.371778.791203.401394.951459.22
PBDIT / Share (Rs.)87.78333.95190.79222.90265.65
PBIT / Share (Rs.)74.58270.89128.74172.13218.15
PBT / Share (Rs.)75.31269.72127.07170.91202.08
Net Profit / Share (Rs.)56.25201.2593.08117.61134.29
PBDIT Margin (%)19.9718.7715.8515.9718.20
PBIT Margin (%)16.9715.2210.6912.3314.94
PBT Margin (%)17.1315.1610.5512.2513.84
Net Profit Margin (%)12.8011.317.738.439.20
Return on Networth / Equity (%)20.5117.219.2612.4115.51
Return on Capital Employeed (%)26.8722.8312.4217.8924.79
Return On Assets (%)15.3512.847.0010.0811.14
Total Debt / Equity (X)0.000.000.000.000.02
Asset Turnover Ratio (%)1.291.230.961.181.31
Current Ratio (X)2.872.882.983.552.62
Quick Ratio (X)1.981.962.192.421.72
Inventory Turnover Ratio (X)2.382.531.942.122.41
Dividend Payout Ratio (NP) (%)28.4418.8837.6025.506.72
Dividend Payout Ratio (CP) (%)23.0314.3722.5617.814.96
Earning Retention Ratio (%)71.5681.1262.4074.5093.28
Cash Earning Retention Ratio (%)76.9785.6377.4482.1995.04
Interest Coverage Ratio (X)386.50284.45113.82200.81117.96
Interest Coverage Ratio (Post Tax) (X)244.44172.4256.53107.0566.77
Enterprise Value (Cr.)41342.0126063.2812941.6113851.9917000.99
EV / Net Operating Revenue (X)6.024.693.443.183.73
EV / EBITDA (X)30.1324.9721.7019.8820.47
MarketCap / Net Operating Revenue (X)6.254.943.773.373.90
Retention Ratios (%)71.5581.1162.3974.4993.27
Price / BV (X)10.017.524.524.966.57
Price / Net Operating Revenue (X)6.254.943.773.373.90
EarningsYield0.020.020.020.020.02

Schaeffler India Ltd Profitability Ratios (%)

Schaeffler India Ltd Liquidity Ratios

Schaeffler India Ltd Liquidity Ratios (%)

Schaeffler India Ltd Interest Coverage Ratios (X)

Schaeffler India Ltd Valuation Ratios

Fair Value / Intrinsic Value of Schaeffler India Ltd

Fair Value: ₹3092.83

The stock is undervalued by 6.47% compared to the current price ₹2905

*Investments are subject to market risks

Strength and Weakness of Schaeffler India Ltd

StrengthWeakness
  1. The stock has a high average ROCE of 25.08%, which is a positive sign.
  2. The company has higher reserves (2,445.33 cr) compared to borrowings (30.08 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (2.92 cr) and profit (346.23 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 220.21 and average Dividend Yield of 14.03%.
  2. The stock has a high average Working Capital Days of 60.25, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 62.67, which may not be favorable.

Should I Buy Schaeffler India Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Schaeffler India Ltd:
    1. Net Profit Margin: 12.80%
      • 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: 26.87% (Industry Average ROCE: 27.8%)
      • 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): 244.44
      • 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: 1.98
      • 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: 49.2 (Industry average Stock P/E: 36.05)
      • 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: 0.00
      • 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 Schaeffler India 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