Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹856, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 30x in the Auto Components industry in India. Total returns to shareholders of 91% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹649 per share. Buy Or Sell Opportunity • Jun 22
Now 32% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to ₹856. The fair value is estimated to be ₹649, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Declared Dividend • May 20
Dividend increased to ₹3.00 Dividend of ₹3.00 is 15% higher than last year. Ex-date: 11th September 2026 Payment date: 18th October 2026 Dividend yield will be 0.4%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is covered by earnings (11% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 45% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 19
Full year 2026 earnings released: EPS: ₹25.39 (vs ₹23.08 in FY 2025) Full year 2026 results: EPS: ₹25.39 (up from ₹23.08 in FY 2025). Revenue: ₹37.9b (up 13% from FY 2025). Net income: ₹1.74b (up 15% from FY 2025). Profit margin: 4.6% (up from 4.5% in FY 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Annonce • May 07
Subros Limited to Report Q4, 2026 Results on May 18, 2026 Subros Limited announced that they will report Q4, 2026 results on May 18, 2026 Buy Or Sell Opportunity • Apr 08
Now 25% overvalued Over the last 90 days, the stock has fallen 15% to ₹726. The fair value is estimated to be ₹582, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Earnings per share has grown by 43%. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Buy Or Sell Opportunity • Mar 10
Now 21% overvalued Over the last 90 days, the stock has fallen 17% to ₹701. The fair value is estimated to be ₹581, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Earnings per share has grown by 43%. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 54% in the next 2 years. Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: ₹6.57 (vs ₹5.05 in 3Q 2025) Third quarter 2026 results: EPS: ₹6.57 (up from ₹5.05 in 3Q 2025). Revenue: ₹9.48b (up 15% from 3Q 2025). Net income: ₹428.3m (up 30% from 3Q 2025). Profit margin: 4.5% (up from 4.0% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 43% per year whereas the company’s share price has increased by 40% per year. Annonce • Jan 09
Subros Limited to Report Q3, 2026 Results on Jan 30, 2026 Subros Limited announced that they will report Q3, 2026 results on Jan 30, 2026 Price Target Changed • Nov 12
Price target increased by 9.5% to ₹963 Up from ₹879, the current price target is an average from 3 analysts. New target price is 6.3% above last closing price of ₹906. Stock is up 46% over the past year. The company is forecast to post earnings per share of ₹27.00 for next year compared to ₹23.08 last year. Reported Earnings • Nov 11
Second quarter 2026 earnings released: EPS: ₹6.14 (vs ₹5.58 in 2Q 2025) Second quarter 2026 results: EPS: ₹6.14 (up from ₹5.58 in 2Q 2025). Revenue: ₹8.99b (up 8.6% from 2Q 2025). Net income: ₹407.4m (up 12% from 2Q 2025). Profit margin: 4.5% (up from 4.4% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 46% per year whereas the company’s share price has increased by 43% per year. Annonce • Nov 03
Subros Limited to Report Q2, 2026 Results on Nov 10, 2025 Subros Limited announced that they will report Q2, 2026 results on Nov 10, 2025 Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹1,129, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 30x in the Auto Components industry in India. Total returns to shareholders of 224% over the past three years. Upcoming Dividend • Sep 04
Upcoming dividend of ₹2.60 per share Eligible shareholders must have bought the stock before 11 September 2025. Payment date: 16 October 2025. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.6%). Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: ₹6.26 (vs ₹5.36 in 1Q 2025) First quarter 2026 results: EPS: ₹6.26 (up from ₹5.36 in 1Q 2025). Revenue: ₹8.84b (up 9.2% from 1Q 2025). Net income: ₹408.3m (up 17% from 1Q 2025). Profit margin: 4.6% (up from 4.3% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Annonce • Jul 26
Subros Limited to Report Q1, 2026 Results on Aug 07, 2025 Subros Limited announced that they will report Q1, 2026 results on Aug 07, 2025 New Risk • Jun 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹861, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 27x in the Auto Components industry in India. Total returns to shareholders of 209% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹491 per share. Declared Dividend • May 24
Dividend increased to ₹2.60 Dividend of ₹2.60 is 44% higher than last year. Ex-date: 11th September 2025 Payment date: 17th October 2025 Dividend yield will be 0.4%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 52% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Annonce • May 23
Subros Limited announces Annual dividend, payable on October 17, 2025 Subros Limited announced Annual dividend of INR 2.6000 per share payable on October 17, 2025, ex-date on September 11, 2025 and record date on September 11, 2025. Reported Earnings • May 23
Full year 2025 earnings released: EPS: ₹23.07 (vs ₹14.96 in FY 2024) Full year 2025 results: EPS: ₹23.07 (up from ₹14.96 in FY 2024). Revenue: ₹33.9b (up 10% from FY 2024). Net income: ₹1.51b (up 54% from FY 2024). Profit margin: 4.4% (up from 3.2% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Annonce • May 22
Subros Limited, Annual General Meeting, Sep 17, 2025 Subros Limited, Annual General Meeting, Sep 17, 2025. Annonce • May 16
Subros Limited to Report Q4, 2025 Results on May 22, 2025 Subros Limited announced that they will report Q4, 2025 results on May 22, 2025 Buy Or Sell Opportunity • May 14
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 8.1% to ₹647. The fair value is estimated to be ₹537, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 49%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 71% in the next 2 years. Buy Or Sell Opportunity • Mar 24
Now 21% overvalued Over the last 90 days, the stock has fallen 1.5% to ₹611. The fair value is estimated to be ₹506, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 49%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 71% in the next 2 years. Buy Or Sell Opportunity • Feb 21
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 4.6% to ₹634. The fair value is estimated to be ₹512, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 49%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 71% in the next 2 years. Buy Or Sell Opportunity • Feb 03
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 1.2% to ₹663. The fair value is estimated to be ₹548, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 49%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 71% in the next 2 years. Reported Earnings • Jan 31
Third quarter 2025 earnings released: EPS: ₹5.05 (vs ₹4.12 in 3Q 2024) Third quarter 2025 results: EPS: ₹5.05 (up from ₹4.12 in 3Q 2024). Revenue: ₹8.26b (up 13% from 3Q 2024). Net income: ₹329.2m (up 23% from 3Q 2024). Profit margin: 4.0% (up from 3.7% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Annonce • Jan 15
Subros Limited to Report Q3, 2025 Results on Jan 30, 2025 Subros Limited announced that they will report Q3, 2025 results on Jan 30, 2025 Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: ₹5.58 (vs ₹4.10 in 2Q 2024) Second quarter 2025 results: EPS: ₹5.58 (up from ₹4.10 in 2Q 2024). Revenue: ₹8.35b (up 2.6% from 2Q 2024). Net income: ₹364.2m (up 36% from 2Q 2024). Profit margin: 4.4% (up from 3.3% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Annonce • Oct 24
Subros Limited to Report Q2, 2025 Results on Nov 07, 2024 Subros Limited announced that they will report Q2, 2025 results on Nov 07, 2024 Upcoming Dividend • Sep 04
Upcoming dividend of ₹1.80 per share Eligible shareholders must have bought the stock before 11 September 2024. Payment date: 17 October 2024. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.0%). Lower than average of industry peers (0.5%). New Risk • Aug 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Price Target Changed • Aug 25
Price target increased by 9.0% to ₹779 Up from ₹715, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₹750. Stock is up 100% over the past year. The company is forecast to post earnings per share of ₹23.78 for next year compared to ₹14.96 last year. Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: ₹5.36 (vs ₹2.08 in 1Q 2024) First quarter 2025 results: EPS: ₹5.36 (up from ₹2.08 in 1Q 2024). Revenue: ₹8.13b (up 17% from 1Q 2024). Net income: ₹349.9m (up 158% from 1Q 2024). Profit margin: 4.3% (up from 2.0% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 28% per year. Annonce • Jul 23
Subros Limited to Report Q1, 2025 Results on Aug 12, 2024 Subros Limited announced that they will report Q1, 2025 results on Aug 12, 2024 Reported Earnings • May 28
Full year 2024 earnings released: EPS: ₹14.96 (vs ₹7.35 in FY 2023) Full year 2024 results: EPS: ₹14.96 (up from ₹7.35 in FY 2023). Revenue: ₹30.7b (up 9.4% from FY 2023). Net income: ₹976.1m (up 104% from FY 2023). Profit margin: 3.2% (up from 1.7% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 22% per year. Annonce • May 25
Subros Limited, Annual General Meeting, Sep 18, 2024 Subros Limited, Annual General Meeting, Sep 18, 2024, at 11:30 Indian Standard Time. Annonce • May 24
Subros Limited Board Recommends Dividend for the Financial Year Ended 31st March, 2024 Subros Limited Board has recommended a dividend of INR 1.80 (90%) per equity share of INR 2 each for the financial year ended 31st March, 2024. The dividend is subject to approval of Shareholders at the upcoming Annual General Meeting of the Company. Annonce • May 07
Subros Limited to Report Q4, 2024 Results on May 23, 2024 Subros Limited announced that they will report Q4, 2024 results on May 23, 2024 Buy Or Sell Opportunity • Mar 14
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at ₹514. The fair value is estimated to be ₹427, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 123% in the next 2 years. Price Target Changed • Feb 01
Price target increased by 8.9% to ₹560 Up from ₹514, the current price target is an average from 4 analysts. New target price is 16% below last closing price of ₹663. Stock is up 125% over the past year. The company is forecast to post earnings per share of ₹15.20 for next year compared to ₹7.35 last year. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹713, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 27x in the Auto Components industry in India. Total returns to shareholders of 115% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹345 per share. New Risk • Jan 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Annonce • Jan 18
Subros Limited to Report Q3, 2024 Results on Jan 30, 2024 Subros Limited announced that they will report Q3, 2024 results on Jan 30, 2024 Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹628, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 27x in the Auto Components industry in India. Total returns to shareholders of 82% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹346 per share. Price Target Changed • Nov 14
Price target increased by 7.1% to ₹458 Up from ₹427, the current price target is an average from 4 analysts. New target price is 12% above last closing price of ₹409. Stock is up 32% over the past year. The company is forecast to post earnings per share of ₹15.65 for next year compared to ₹7.35 last year. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: ₹4.10 (vs ₹1.49 in 2Q 2023) Second quarter 2024 results: EPS: ₹4.10 (up from ₹1.49 in 2Q 2023). Revenue: ₹8.13b (up 17% from 2Q 2023). Net income: ₹267.6m (up 175% from 2Q 2023). Profit margin: 3.3% (up from 1.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 13% per year. Annonce • Oct 20
Subros Limited to Report Q2, 2024 Results on Nov 09, 2023 Subros Limited announced that they will report Q2, 2024 results on Nov 09, 2023 Upcoming Dividend • Aug 15
Upcoming dividend of ₹1.00 per share at 0.3% yield Eligible shareholders must have bought the stock before 22 August 2023. Payment date: 05 October 2023. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (0.8%). Reported Earnings • Aug 09
First quarter 2024 earnings released: EPS: ₹2.08 (vs ₹1.79 in 1Q 2023) First quarter 2024 results: EPS: ₹2.08 (up from ₹1.79 in 1Q 2023). Revenue: ₹6.93b (down 2.2% from 1Q 2023). Net income: ₹135.6m (up 16% from 1Q 2023). Profit margin: 2.0% (up from 1.6% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jul 24
Subros Limited to Report Q1, 2024 Results on Aug 08, 2023 Subros Limited announced that they will report Q1, 2024 results on Aug 08, 2023 Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹434, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 21x in the Auto Components industry in India. Total returns to shareholders of 146% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹213 per share. Price Target Changed • Jun 10
Price target decreased by 8.0% to ₹360 Down from ₹391, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ₹349. Stock is up 20% over the past year. The company is forecast to post earnings per share of ₹14.65 for next year compared to ₹7.35 last year. Annonce • May 27
Subros Limited Proposes Dividend for the Year Ended March 31, 2023 The board of directors of Subros Limited, at its board meeting held on May 25, 2023, recommended a dividend of INR 1.00 (50%) per equity share of INR 2.00 each for the year ended March 31, 2023. The dividend is subject to approval of shareholders at the upcoming Annual General Meeting of the Company. Annonce • May 26
Subros Limited, Annual General Meeting, Sep 05, 2023 Subros Limited, Annual General Meeting, Sep 05, 2023. Reported Earnings • May 26
Full year 2023 earnings released: EPS: ₹7.35 (vs ₹4.98 in FY 2022) Full year 2023 results: EPS: ₹7.35 (up from ₹4.98 in FY 2022). Revenue: ₹28.3b (up 26% from FY 2022). Net income: ₹479.2m (up 48% from FY 2022). Profit margin: 1.7% (up from 1.5% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Annonce • May 19
Subros Limited to Report Q4, 2023 Results on May 25, 2023 Subros Limited announced that they will report Q4, 2023 results on May 25, 2023 Reported Earnings • Jan 26
Third quarter 2023 earnings released: EPS: ₹1.26 (vs ₹1.16 in 3Q 2022) Third quarter 2023 results: EPS: ₹1.26 (up from ₹1.16 in 3Q 2022). Revenue: ₹6.55b (up 20% from 3Q 2022). Net income: ₹82.6m (up 9.4% from 3Q 2022). Profit margin: 1.3% (down from 1.4% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Annonce • Jan 26
Subros Limited Announces Board Changes Subros Limited at its board meeting held on January 25, 2023 approved that Mr. Yasuhiro Lida has been appointed as Alternative Director to Mr. Hidemasa Takahashi in place of Mr. Yasuaki Matsunaga with effect from January 25, 2023. Mr. Yasuhiro Lida is PhD in production system engineering from Nagoya Institute of Technology. Lida san joined DENSO corporation in 1985 and in August 2008, he was appointed as the director, production engineering division, where he led the development of production systems for components in six different areas such as thermal, diesel, gasoline and ceramic. In 2011, Lida san was appointed as president of DENSO Thailand Co. Ltd. and in 2012, he was assigned as executive director of DENSO corporation. In 2015, he was appointed as CEO in the Asia-Pacific region (president, DENSO international Asia ltd.). In 2018, he was appointed as head of Thermal Systems Business Group and in 2011; he was named as the Head of Global Production Center. In 2022, as a head of Purchasing Group he led significant business of promoting carbon neutrality, digital transformation and BCP. He is presently the managing director of DENSO International India Pvt. ltd. Annonce • Jan 11
Subros Limited to Report Q3, 2023 Results on Jan 25, 2023 Subros Limited announced that they will report Q3, 2023 results on Jan 25, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹1.49 (vs ₹0.76 in 2Q 2022) Second quarter 2023 results: EPS: ₹1.49 (up from ₹0.76 in 2Q 2022). Revenue: ₹6.95b (up 31% from 2Q 2022). Net income: ₹97.3m (up 97% from 2Q 2022). Profit margin: 1.4% (up from 0.9% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: ₹1.49 (vs ₹0.76 in 2Q 2022) Second quarter 2023 results: EPS: ₹1.49 (up from ₹0.76 in 2Q 2022). Revenue: ₹6.99b (up 32% from 2Q 2022). Net income: ₹97.3m (up 97% from 2Q 2022). Profit margin: 1.4% (up from 0.9% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 18% share price gain to ₹393, the stock trades at a trailing P/E ratio of 77.5x. Average trailing P/E is 23x in the Auto Components industry in India. Total returns to shareholders of 66% over the past three years. Upcoming Dividend • Jul 21
Upcoming dividend of ₹0.70 per share Eligible shareholders must have bought the stock before 28 July 2022. Payment date: 03 September 2022. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.8%). Lower than average of industry peers (0.7%). Reported Earnings • Jul 16
Full year 2022 earnings released: EPS: ₹4.98 (vs ₹7.27 in FY 2021) Full year 2022 results: EPS: ₹4.98 (down from ₹7.27 in FY 2021). Revenue: ₹22.4b (up 25% from FY 2021). Net income: ₹324.9m (down 31% from FY 2021). Profit margin: 1.5% (down from 2.6% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • May 30
Full year 2022 earnings released: EPS: ₹4.98 (vs ₹7.27 in FY 2021) Full year 2022 results: EPS: ₹4.98 (down from ₹7.27 in FY 2021). Revenue: ₹22.4b (up 25% from FY 2021). Net income: ₹325.0m (down 31% from FY 2021). Profit margin: 1.5% (down from 2.6% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Price Target Changed • Apr 27
Price target increased to ₹424 Up from ₹351, the current price target is provided by 1 analyst. New target price is 21% above last closing price of ₹349. Stock is up 12% over the past year. The company posted earnings per share of ₹7.26 last year. Reported Earnings • Jan 28
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹1.16 (down from ₹4.20 in 3Q 2021). Revenue: ₹5.48b (down 9.3% from 3Q 2021). Net income: ₹75.5m (down 73% from 3Q 2021). Profit margin: 1.4% (down from 4.5% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Price Target Changed • Oct 26
Price target increased to ₹382 Up from ₹351, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₹380. Stock is up 35% over the past year. The company posted earnings per share of ₹7.26 last year. Reported Earnings • Oct 24
Second quarter 2022 earnings released: EPS ₹0.76 (vs ₹2.72 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₹5.29b (up 16% from 2Q 2021). Net income: ₹49.5m (down 72% from 2Q 2021). Profit margin: 0.9% (down from 3.9% in 2Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment improved over the past week After last week's 17% share price gain to ₹381, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 21x in the Auto Components industry in India. Total returns to shareholders of 29% over the past three years. Board Change • Sep 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Whole Time Director Parmod Duggal was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.