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Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Subros Ltd

About the Company - Subros Ltd

Subros Ltd. is a Public Limited Listed company incorporated on 14/02/1985 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L74899DL1985PLC020134 and registration number is 020134. Currently Company is involved in the business activities of Manufacture of diverse parts and accessories for motor vehecles sucs as brakes, gearboxes, axles, road wheels, suspension shock absorbers, radiators, silencers, exhaust pipes, catalysers, clutches, steering wheels, steering columns and steering boxes etc.. Company’s Total Operating Revenue is Rs. 2238.64 Cr. and Equity Capital is Rs. 13.05 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Auto Ancl - Equipment OthersLGF, World Trade Centre, New Delhi Delhi 110001kamal.samtani@subros.com
http://www.subros.com
Management
NamePosition Held
Mr. Ramesh SuriChairman Emeritus
Ms. Shradha SuriChairman & Managing Director
Mr. Parmod Kumar DuggalWholeTime Director & CEO
Mr. Shailendra SwarupDirector
Mr. K R RamamoorthyDirector
Mrs. Meena SethiDirector
Mr. M A PathanDirector
Dr. Jyotsna SuriDirector
Mr. Tomoaki YoshimoriDirector
Mr. G N MehraDirector
Mr. Arvind KapurDirector
Mr. Naohisa KuriyamaDirector
Mr. Hisashi TakeuchiDirector
Mr. Yasuhiro IidaAlternate Director

Subros Ltd. Share Price Update

Share PriceValue
Today₹619.30
Previous Day₹641.60

Basic Stock Data of Subros Ltd

Market Cap 3,965 Cr.
Current Price 608
High / Low734/271
Stock P/E46.4
Book Value 138
Dividend Yield0.17 %
ROCE8.82 %
ROE5.60 %
Face Value 2.00

Data Source: screener.in

Competitors of Subros Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
A and M Jumbo Bags Ltd 21.4 Cr. 20.421.4/19.4 8.300.00 %0.25 %0.42 % 10.0
BSEL Infrastructure Realty Ltd 107 Cr. 13.019.7/4.703.72 54.90.00 %9.69 %9.52 % 10.0
Adhunik Metaliks Ltd 6.18 Cr. 0.50/ 1760.00 %%% 10.0
Nila Infrastructures Ltd 532 Cr. 13.514.6/4.2389.5 3.440.00 %6.05 %0.27 % 1.00
Industry Average166.65 Cr11.8523.3160.660%4%2.55%7.75

Subros Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales458604660480529548681709695655748693813
Expenses405538596454495508634665655621697646743
Operating Profit53666427354047434034514770
OPM %12%11%10%6%7%7%7%6%6%5%7%7%9%
Other Income4335202248623
Interest6333422122223
Depreciation24252424262627272828282729
Profit before tax284240581221181512262042
Tax %37%34%34%36%34%35%20%34%33%33%31%32%36%
Net Profit1827263581712108181427
EPS in Rs2.724.204.020.510.761.162.551.791.491.272.802.084.10

Subros Ltd Quarterly Chart

Subros Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,1131,2671,1671,1921,2981,5351,9132,1241,9931,7962,2392,8062,909
Expenses1,0161,1451,0351,0551,1461,3671,7031,8961,8041,6422,0892,6382,708
Operating Profit96122132137152168210229189154149168202
OPM %9%10%11%11%12%11%11%11%9%9%7%6%7%
Other Income4111212-2466621192019
Interest263637394248414236161178
Depreciation53737779878892799092102110112
Profit before tax5824202026882114124564571100
Tax %18%17%-5%0%9%-63%26%33%32%16%28%32%
Net Profit48202120241361768547324867
EPS in Rs7.963.383.473.343.992.2010.1011.6913.007.264.987.3510.25
Dividend Payout %14%21%20%21%20%23%11%11%6%10%14%14%

Subros Ltd Profit & Loss Yearly Chart

Subros Ltd Growth

Compounded Sales Growth
10 Years:8%
5 Years:8%
3 Years:12%
TTM:9%
Compounded Profit Growth
10 Years:9%
5 Years:-5%
3 Years:-5%
TTM:85%
Stock Price CAGR
10 Years:39%
5 Years:21%
3 Years:24%
1 Year:115%
Return on Equity
10 Years:8%
5 Years:7%
3 Years:5%
Last Year:6%

Subros Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital12121212121212131313131313
Reserves259274290305323335392667739782811854886
Borrowings34235041442039040438524415552331943
Other Liabilities231245214236276373508456482602648657742
Total Liabilities8448819299731,0011,1251,2971,3801,3881,4491,5051,5431,684
Fixed Assets387446484537563497670690765745726723744
CWIP90107103885414990866654618671
Investments00000122155255
Other Assets367328342348384477536603555646712709864
Total Assets8448819299731,0011,1251,2971,3801,3881,4491,5051,5431,684

Subros Ltd Reserves and Borrowings Chart

Subros Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 8617796141151111315100239154151141
Cash from Investing Activity -177-135-109-94-69-75-231-126-93-58-100-145
Cash from Financing Activity 89-4214-48-82-35-7217-148-68-534
Net Cash Flow-2-01-1-0113-8-328-1-1

Subros Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days251319242831312935423727
Inventory Days817780787370666161807057
Days Payable6657504954821129610013010783
Cash Conversion Cycle403350524719-16-6-4-9-12
Working Capital Days23150-2-7-21-7-7-12-7-4
ROCE %10%10%8%8%9%12%16%19%13%8%7%9%

Subros Ltd Financial Efficiency Indicators Chart

Subros Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters36.79%36.79%36.79%36.79%36.79%36.79%36.79%36.79%36.79%36.79%36.79%36.79%
FIIs1.05%0.60%0.57%0.60%0.70%0.72%0.73%0.62%32.62%32.59%32.74%33.35%
DIIs10.65%10.88%11.69%12.24%12.40%12.76%13.00%13.15%13.30%12.46%10.96%9.48%
Public51.51%51.73%50.95%50.38%50.11%49.73%49.48%49.43%17.28%18.15%19.51%20.38%
No. of Shareholders28,83227,71825,97624,23025,48723,35122,52122,57722,38132,36938,40248,337

Subros Ltd Shareholding Pattern Chart

No. of Subros Ltd Shareholders

Subros Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Kotak Multicap Fund16670291.1290.33
Canara Robeco Small Cap Fund10989260.6559.55
Nippon India Small Cap Fund9850000.1253.37
UTI Small Cap Fund8082471.2143.79
UTI Transportation and Logistic Fund6942571.3737.62
Kotak Multi Asset Allocation Fund3530000.4119.13
Kotak Consumption Fund1550001.948.4
Sundaram ELSS Tax Saver Fund1206290.556.54
Bandhan Transportation and Logistics Fund800001.124.33

Subros Ltd ROCE Trend

Subros Ltd EPS Trend

Subros Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)7.354.987.2613.0012.37
Diluted EPS (Rs.)7.354.987.2613.0012.37
Cash EPS (Rs.)24.2320.6321.2826.8623.77
Book Value[Excl.RevalReserv]/Share (Rs.)132.94126.27121.88115.28104.23
Book Value[Incl.RevalReserv]/Share (Rs.)132.94126.27121.88115.28104.23
Revenue From Operations / Share (Rs.)430.18343.16275.26305.48325.66
PBDIT / Share (Rs.)28.7924.2625.1532.1036.55
PBIT / Share (Rs.)11.888.5711.0318.2524.47
PBT / Share (Rs.)10.846.908.5419.0117.49
Net Profit / Share (Rs.)7.334.947.1613.0211.69
NP After MI And SOA / Share (Rs.)7.354.987.2613.0011.69
PBDIT Margin (%)6.697.079.1310.5011.22
PBIT Margin (%)2.762.494.005.977.51
PBT Margin (%)2.522.013.106.225.37
Net Profit Margin (%)1.701.432.604.263.58
NP After MI And SOA Margin (%)1.701.452.634.253.58
Return on Networth / Equity (%)5.523.945.9611.2811.21
Return on Capital Employeed (%)8.396.378.4014.6821.42
Return On Assets (%)3.102.153.266.115.52
Long Term Debt / Equity (X)0.010.010.030.030.08
Total Debt / Equity (X)0.010.030.030.140.27
Asset Turnover Ratio (%)1.841.521.271.441.59
Current Ratio (X)1.101.101.070.930.87
Quick Ratio (X)0.550.590.590.530.48
Inventory Turnover Ratio (X)6.525.625.065.836.08
Dividend Payout Ratio (NP) (%)9.5214.0511.019.999.63
Dividend Payout Ratio (CP) (%)2.883.383.744.844.73
Earning Retention Ratio (%)90.4885.9588.9990.0190.37
Cash Earning Retention Ratio (%)97.1296.6296.2695.1695.27
Interest Coverage Ratio (X)27.7114.5010.105.765.65
Interest Coverage Ratio (Post Tax) (X)8.053.953.882.202.89
Enterprise Value (Cr.)1882.722044.871917.01864.511838.78
EV / Net Operating Revenue (X)0.670.911.070.430.86
EV / EBITDA (X)10.0312.9211.684.137.71
MarketCap / Net Operating Revenue (X)0.690.951.120.420.81
Retention Ratios (%)90.4785.9488.9890.0090.36
Price / BV (X)2.262.602.531.122.56
Price / Net Operating Revenue (X)0.690.951.120.420.81
EarningsYield0.020.010.020.100.04

Subros Ltd Profitability Ratios (%)

Subros Ltd Liquidity Ratios

Subros Ltd Liquidity Ratios (%)

Subros Ltd Interest Coverage Ratios (X)

Subros Ltd Valuation Ratios

Fair Value / Intrinsic Value of Subros Ltd

Fair Value: ₹359.19

The stock is overvalued by 40.92% compared to the current price ₹608

*Investments are subject to market risks

Strength and Weakness of Subros Ltd

StrengthWeakness
  1. The stock has a low average Working Capital Days of -3.17, which is a positive sign.
  2. The company has higher reserves (532.08 cr) compared to borrowings (250.08 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (1.31 cr) and profit (57.54 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 14.84 and average Dividend Yield of 4.55%.
  2. The stock has a low average ROCE of 10.75%, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 17.25, which may not be favorable.

Should I Buy Subros Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Subros Ltd:
    1. Net Profit Margin: 1.70%
      • 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: 8.39% (Industry Average ROCE: 5.33%)
      • 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): 8.05
      • 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: 47.8 (Industry average Stock P/E: 27.03)
      • 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: 0.01
      • 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 Subros 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