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Last Updated on: 21 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of SML ISUZU Ltd

Basic Stock Data

Last Updated: June 17, 2024, 8:13 pm

Market Cap 3,055 Cr.
Current Price 2,111
High / Low2,480/990
Stock P/E28.3
Book Value 197
Dividend Yield0.00 %
ROCE23.8 %
ROE46.6 %
Face Value 10.0
PEG Ratio0.19

Competitors of SML ISUZU Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Tata Motors Ltd 3,64,190 Cr. 9931,066/55711.3 2550.30 %20.1 %49.4 % 2.00
Olectra Greentech Ltd 14,423 Cr. 1,7572,222/907188 1110.02 %14.8 %8.76 % 4.00
Ashok Leyland Ltd 70,427 Cr. 240243/15827.8 30.72.06 %15.2 %28.8 % 1.00
Atul Auto Ltd 1,537 Cr. 554693/325217 1510.00 %4.24 %1.84 % 5.00
Industry Average112,644.25 Cr886.00111.03136.930.60%13.59%22.20%3.00

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales258100233250342500410328583632499386680
Expenses264117249259340483405312540585459364608
Operating Profit-5-17-16-102176164347392271
OPM %-2%-17%-7%-4%1%3%1%5%7%7%8%6%10%
Other Income1041100122012
Interest55664547957811
Depreciation11111111101111111012121212
Profit before tax-20-33-30-26-112-9-1253221350
Tax %-1%0%2%0%-0%0%0%86%-7%1%0%6%-4%
Net Profit-20-33-29-26-112-9-0273221352
EPS in Rs-13.90-23.11-20.12-17.82-7.891.62-6.34-0.0918.5121.9714.571.8536.15

Last Updated: June 9, 2024, 6:08 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 27, 2024, 6:05 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales1,0028811,1061,1661,3561,1351,4091,1545919241,8222,196
Expenses9328501,0361,0791,2461,0901,3351,1426609651,7402,017
Operating Profit70326987110457412-69-4182179
OPM %7%4%6%7%8%4%5%1%-12%-4%4%8%
Other Income955643455635
Interest19665611161523222530
Depreciation121320202428384146444248
Profit before tax4818496884924-38-133-10017106
Tax %25%2%24%25%25%10%20%45%-0%1%-15%-1%
Net Profit3617375163820-21-133-10020108
EPS in Rs25.1712.0225.5335.3543.545.8713.52-14.55-92.24-68.9413.7174.55
Dividend Payout %32%25%24%23%18%26%22%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-52.78%117.65%37.84%23.53%-87.30%150.00%-205.00%-533.33%24.81%120.00%440.00%
Change in YoY Net Profit Growth (%)0.00%170.42%-79.81%-14.31%-110.83%237.30%-355.00%-328.33%558.15%95.19%320.00%

Growth

Compounded Sales Growth
10 Years:10%
5 Years:9%
3 Years:55%
TTM:21%
Compounded Profit Growth
10 Years:20%
5 Years:41%
3 Years:41%
TTM:444%
Stock Price CAGR
10 Years:14%
5 Years:23%
3 Years:66%
1 Year:87%
Return on Equity
10 Years:2%
5 Years:-10%
3 Years:5%
Last Year:47%

Last Updated: June 17, 2024, 2:43 pm

Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital14141414141414141414141414
Reserves227250262288326389384399370241147163215
Borrowings1001620225541212246185261298265255
Other Liabilities281233274350332341377435289279357494435
Total Liabilities6226595516757277859871,095859796816937920
Fixed Assets135139143138171215365380426389349356350
CWIP8109274078352735161110
Investments0000000000000
Other Assets479510399511515492587688429403450569560
Total Assets6226595516757277859871,095859796816937920

Reserves and Borrowings Chart

SML ISUZU Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 74-2516269-12121-3355150-47-1990
Cash from Investing Activity -27-2822-103-13-89-98-58-47-28-7-42
Cash from Financing Activity -930-1821117-3414610-976017-55
Net Cash Flow38-242-23-8-21586-15-8-7

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-92.0032.0047.0032.0069.00-167.00-172.00-173.00-330.00-339.00-183.00-242.00

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 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days435534343231383812243115
Inventory Days104110133129146107158146109202143105
Days Payable75539090747092946714211873
Cash Conversion Cycle721127773104691049154845648
Working Capital Days508447375845635619603818
ROCE %23%17%7%19%20%22%4%6%-4%-20%-16%9%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters43.96%43.96%43.96%43.96%43.96%43.96%43.96%43.96%43.96%43.96%43.96%43.96%
FIIs2.90%1.61%1.62%1.70%1.64%1.76%16.69%16.68%15.11%15.28%15.43%15.81%
DIIs1.32%1.28%1.00%0.94%0.01%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public51.81%53.14%53.41%53.40%54.39%54.27%39.35%39.34%40.92%40.76%40.59%40.22%
No. of Shareholders33,20832,26029,24530,31529,06927,55326,79425,68724,11324,88325,02325,447

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.)74.5413.71-68.94-92.24-14.55
Diluted EPS (Rs.)74.5413.71-68.94-92.24-14.55
Cash EPS (Rs.)107.3243.01-38.84-60.3113.57
Book Value[Excl.RevalReserv]/Share (Rs.)197.23122.90111.53176.51265.81
Book Value[Incl.RevalReserv]/Share (Rs.)197.23122.90111.53176.51265.81
Dividend / Share (Rs.)16.000.000.000.000.00
Revenue From Operations / Share (Rs.)1516.531258.11638.29408.52797.13
PBDIT / Share (Rs.)127.2958.53-24.33-44.1111.76
PBIT / Share (Rs.)94.4729.23-54.39-75.99-16.36
PBT / Share (Rs.)73.5211.93-69.25-92.11-26.47
Net Profit / Share (Rs.)74.5013.70-68.90-92.20-14.55
PBDIT Margin (%)8.394.65-3.81-10.791.47
PBIT Margin (%)6.222.32-8.52-18.60-2.05
PBT Margin (%)4.840.94-10.84-22.54-3.32
Net Profit Margin (%)4.911.08-10.79-22.56-1.82
Return on Networth / Equity (%)37.7711.14-61.77-52.23-5.47
Return on Capital Employeed (%)34.8116.82-35.40-31.02-4.39
Return On Assets (%)8.892.11-12.22-16.76-2.45
Long Term Debt / Equity (X)0.140.090.050.180.24
Total Debt / Equity (X)1.461.451.800.800.33
Asset Turnover Ratio (%)2.042.081.150.711.18
Current Ratio (X)1.010.780.700.821.20
Quick Ratio (X)0.290.160.200.230.35
Inventory Turnover Ratio (X)3.504.162.601.671.97
Interest Coverage Ratio (X)6.073.38-1.64-2.741.16
Interest Coverage Ratio (Post Tax) (X)4.551.79-3.64-4.72-0.43
Enterprise Value (Cr.)3134.451319.50993.43828.28525.91
EV / Net Operating Revenue (X)1.430.721.071.400.45
EV / EBITDA (X)17.0115.57-28.20-12.9730.89
MarketCap / Net Operating Revenue (X)1.260.580.771.110.37
Price / BV (X)9.696.004.442.561.13
Price / Net Operating Revenue (X)1.260.580.771.110.37
EarningsYield0.030.01-0.13-0.20-0.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 2,649.96

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.

Undervalued: 25.53% compared to the current price 2111

Intrinsic Value: 6,519.04

Calculation basis:

  • Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 208.81% compared to the current price ₹2111

Last 5 Year EPS CAGR: 146.01%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (290.83 cr) compared to borrowings (180.67 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (200.50 cr) and profit (12.67 cr) over the years.
  1. The stock has a low average ROCE of 7.25%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 47.92, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 78.67, 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 SML ISUZU Ltd:
    1. Net Profit Margin: 4.91%
      • 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: 34.81% (Industry Average ROCE: %)
      • 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%: 37.77% (Industry Average ROE: %)
      • 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): 4.55
      • 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: 0.29
      • 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: 28.3 (Industry average Stock P/E: )
      • 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: 1.46
      • 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

SML Isuzu Ltd. is a Public Limited Listed company incorporated on 26/07/1983 and has its registered office in the State of Punjab, India. Company’s Corporate Identification Number(CIN) is L50101PB1983PLC005516 and registration number is 005516. Currently Company is involved in the business activities of Manufacture of commercial vehicles such as vans, lorries, over-the-road tractors for semi-trailers etc.. Company’s Total Operating Revenue is Rs. 924.17 Cr. and Equity Capital is Rs. 14.48 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Auto - LCVs/HCVsVillage Asron, Distt. Shahid Bhagat Singh Nagar, Nawanshahr Punjab 144533investors@smlisuzu.com
http://www.smlisuzu.com
Management
NamePosition Held
Mr. S K TutejaChairman
Mr. Junya YamanishiManaging Director & CEO
Mr. Sudhir NayarDirector
Mr. Chandra Shekhar VermaDirector
Mr. Masaki MorohoshiDirector
Mr. Eiichi SetoDirector
Mr. Takuro HorikoshiDirector
Mr. Atima KhannaInd. Non-Executive Director
Mr. Takashi NishidaNon Executive Director

FAQ

What is the latest fair value of SML ISUZU Ltd?

The latest fair value of SML ISUZU Ltd is ₹2649.96.

What is the Market Cap of SML ISUZU Ltd?

The Market Cap of SML ISUZU Ltd is 3,055 Cr..

What is the current Stock Price of SML ISUZU Ltd as on 21 June 2024?

The current stock price of SML ISUZU Ltd as on 21 June 2024 is ₹2,111.

What is the High / Low of SML ISUZU Ltd stocks in FY 2024?

In FY 2024, the High / Low of SML ISUZU Ltd stocks is 2,480/990.

What is the Stock P/E of SML ISUZU Ltd?

The Stock P/E of SML ISUZU Ltd is 28.3.

What is the Book Value of SML ISUZU Ltd?

The Book Value of SML ISUZU Ltd is 197.

What is the Dividend Yield of SML ISUZU Ltd?

The Dividend Yield of SML ISUZU Ltd is 0.00 %.

What is the ROCE of SML ISUZU Ltd?

The ROCE of SML ISUZU Ltd is 23.8 %.

What is the ROE of SML ISUZU Ltd?

The ROE of SML ISUZU Ltd is 46.6 %.

What is the Face Value of SML ISUZU Ltd?

The Face Value of SML ISUZU 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 SML ISUZU 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