New Risk • May 17
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.7% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 13% per year over the past 5 years. High level of non-cash earnings (27% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₹1.52b market cap, or US$15.8m). Reported Earnings • May 17
Full year 2026 earnings released: EPS: ₹13.15 (vs ₹14.10 in FY 2025) Full year 2026 results: EPS: ₹13.15 (down from ₹14.10 in FY 2025). Revenue: ₹829.5m (down 2.1% from FY 2025). Net income: ₹48.6m (down 6.7% from FY 2025). Profit margin: 5.9% (down from 6.2% in FY 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Aankondiging • May 08
Duncan Engineering Limited to Report Q4, 2026 Results on May 16, 2026 Duncan Engineering Limited announced that they will report Q4, 2026 results at 3:30 PM, Indian Standard Time on May 16, 2026 Reported Earnings • Jan 23
Third quarter 2026 earnings released: EPS: ₹2.79 (vs ₹1.89 in 3Q 2025) Third quarter 2026 results: EPS: ₹2.79 (up from ₹1.89 in 3Q 2025). Revenue: ₹196.2m (down 1.8% from 3Q 2025). Net income: ₹10.3m (up 48% from 3Q 2025). Profit margin: 5.2% (up from 3.5% in 3Q 2025). The increase in margin was driven by lower expenses. 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 4% per year, which means it is well ahead of earnings. Aankondiging • Jan 16
Duncan Engineering Limited to Report Q3, 2026 Results on Jan 22, 2026 Duncan Engineering Limited announced that they will report Q3, 2026 results on Jan 22, 2026 New Risk • Nov 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.2% average weekly change). Earnings have declined by 0.6% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹1.64b market cap, or US$18.4m). Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹485, the stock trades at a trailing P/E ratio of 39x. Average trailing P/E is 31x in the Auto Components industry in India. Total returns to shareholders of 30% over the past three years. New Risk • Nov 19
New major risk - Revenue and earnings growth Earnings have declined by 0.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.6% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Market cap is less than US$100m (₹1.56b market cap, or US$17.6m). Aankondiging • Nov 04
Duncan Engineering Limited to Report Q2, 2026 Results on Nov 11, 2025 Duncan Engineering Limited announced that they will report Q2, 2026 results on Nov 11, 2025 New Risk • Jul 30
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 6.8% 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (₹1.83b market cap, or US$20.9m). Aankondiging • Jul 24
Duncan Engineering Limited Approves Dividend for the Financial Year Ended March 31, 2025 Duncan Engineering Limited in its 64th annual general meeting held on July 24, 2025 approved to declare dividend of INR 3.00/- per equity share of face value of INR. 10/- each for the financial year ended 31 March 2025. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹516, the stock trades at a trailing P/E ratio of 36.6x. Average trailing P/E is 32x in the Auto Components industry in India. Total returns to shareholders of 109% over the past three years. Aankondiging • Jul 17
Duncan Engineering Limited to Report Q1, 2026 Results on Jul 25, 2025 Duncan Engineering Limited announced that they will report Q1, 2026 results on Jul 25, 2025 Upcoming Dividend • Jul 13
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 17 July 2025. Payment date: 23 August 2025. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.2%). In line with average of industry peers (0.7%). Reported Earnings • Jun 30
Full year 2025 earnings released: EPS: ₹14.10 (vs ₹18.60 in FY 2024) Full year 2025 results: EPS: ₹14.10 (down from ₹18.60 in FY 2024). Revenue: ₹847.1m (up 30% from FY 2024). Net income: ₹52.1m (down 24% from FY 2024). Profit margin: 6.2% (down from 11% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Declared Dividend • Jun 28
Dividend reduced to ₹3.00 Dividend of ₹3.00 is 14% lower than last year. Ex-date: 17th July 2025 Payment date: 23rd August 2025 Dividend yield will be 0.7%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 73% per year over the past 2 years and payments have been stable during that time. Earnings per share has grown by 9.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • May 19
Duncan Engineering Limited, Annual General Meeting, Jul 24, 2025 Duncan Engineering Limited, Annual General Meeting, Jul 24, 2025. Reported Earnings • May 17
Full year 2025 earnings released: EPS: ₹14.10 (vs ₹18.60 in FY 2024) Full year 2025 results: EPS: ₹14.10 (down from ₹18.60 in FY 2024). Revenue: ₹873.1m (up 34% from FY 2024). Net income: ₹52.1m (down 24% from FY 2024). Profit margin: 6.0% (down from 11% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Aankondiging • May 10
Duncan Engineering Limited to Report Q4, 2025 Results on May 16, 2025 Duncan Engineering Limited announced that they will report Q4, 2025 results on May 16, 2025 Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹405, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 28x in the Auto Components industry in India. Total returns to shareholders of 74% over the past three years. New Risk • Mar 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.5% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.5% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.2% net profit margin). Market cap is less than US$100m (₹1.19b market cap, or US$13.7m). Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₹302, the stock trades at a trailing P/E ratio of 18.7x. Average trailing P/E is 29x in the Auto Components industry in India. Total loss to shareholders of 1.1% over the past three years. Aankondiging • Feb 10
Duncan Engineering Limited Announces Resignation of Sayalee Yengul as Company Secretary & Compliance Officer, Effective April 11, 2025 Duncan Engineering Limited announced that Ms. Sayalee Yengul, Company Secretary & Compliance Officer designated as KMP of the Company, has tendered her resignation from the services of the Company. She will be relieved from her duties with effect from the closing of business hours of April 11, 2025. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹406, the stock trades at a trailing P/E ratio of 25.2x. Average trailing P/E is 28x in the Auto Components industry in India. Total returns to shareholders of 20% over the past three years. Reported Earnings • Jan 27
Third quarter 2025 earnings released: EPS: ₹1.89 (vs ₹3.38 in 3Q 2024) Third quarter 2025 results: EPS: ₹1.89 (down from ₹3.38 in 3Q 2024). Revenue: ₹199.8m (up 33% from 3Q 2024). Net income: ₹6.98m (down 44% from 3Q 2024). Profit margin: 3.5% (down from 8.3% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Aankondiging • Jan 16
Duncan Engineering Limited to Report Q3, 2025 Results on Jan 24, 2025 Duncan Engineering Limited announced that they will report Q3, 2025 results on Jan 24, 2025 Aankondiging • Nov 29
Duncan Engineering Limited Appoints Dharmendra Singh Gangwar as an Independent Director Duncan Engineering Limited announced the appointment of Dr. Dharmendra Singh Gangwar as an Independent Director of the Company effective October 18, 2024. Reported Earnings • Oct 21
Second quarter 2025 earnings released: EPS: ₹6.68 (vs ₹4.35 in 2Q 2024) Second quarter 2025 results: EPS: ₹6.68 (up from ₹4.35 in 2Q 2024). Revenue: ₹284.0m (up 78% from 2Q 2024). Net income: ₹24.7m (up 54% from 2Q 2024). Profit margin: 8.7% (down from 10% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 54% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹753, the stock trades at a trailing P/E ratio of 49.3x. Average trailing P/E is 33x in the Auto Components industry in India. Total returns to shareholders of 264% over the past three years. Aankondiging • Oct 10
Duncan Engineering Limited to Report Q2, 2025 Results on Oct 18, 2024 Duncan Engineering Limited announced that they will report Q2, 2025 results on Oct 18, 2024 Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹732, the stock trades at a trailing P/E ratio of 47.9x. Average trailing P/E is 35x in the Auto Components industry in India. Total returns to shareholders of 245% over the past three years. New Risk • Jul 25
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.6% Last year net profit margin: 14% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (91% cash payout ratio). Profit margins are more than 30% lower than last year (8.6% net profit margin). Market cap is less than US$100m (₹2.27b market cap, or US$27.1m). Aankondiging • Jul 23
Duncan Engineering Limited Approves the Dividend for the Financial Year Ended 31 March 2024 Duncan Engineering Limited in its AGM held on July 22, 2024 approved the Dividend of INR 3.50/- per equity share (i.e. 35%) of the Company for the financial year ended 31st March 2024. Aankondiging • Jul 16
Duncan Engineering Limited to Report Q1, 2025 Results on Jul 24, 2024 Duncan Engineering Limited announced that they will report Q1, 2025 results on Jul 24, 2024 Aankondiging • Jul 15
Duncan Engineering Limited Announces Director and Committee Changes Duncan Engineering Limited announced that Mr. Om Prakash Dubey (DIN: 00228441) and Mr. Nitin Kaul (DIN: 01718619), both, have completed second term of five years as Independent Directors of the Company on July 15, 2024. Consequently, they cease to be the Independent Directors of the Company with effect from July 15, 2024. Consequent to the cessation, Mr. Dubey & Mr. Kaul will also cease to be the member/chairperson of the following Committees of Board of Directors with effect from July 15, 2024. Om Prakash Dubey: Audit Committee, Chairperson; Nomination & Remuneration Committee, Chairperson; Stakeholders Relationship Committee, Chairperson. Nitin Kaul: Audit Committee, Member; Nomination & Remuneration Committee, Member. Reported Earnings • Jul 04
Full year 2024 earnings released: EPS: ₹18.60 (vs ₹26.80 in FY 2023) Full year 2024 results: EPS: ₹18.60 (down from ₹26.80 in FY 2023). Revenue: ₹651.0m (down 7.1% from FY 2023). Net income: ₹68.7m (down 31% from FY 2023). Profit margin: 11% (down from 14% in FY 2023). The decrease in margin was driven by lower revenue. 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 48% per year, which means it is well ahead of earnings. Declared Dividend • Jul 01
Dividend increased to ₹3.50 Dividend of ₹3.50 is 250% higher than last year. Ex-date: 15th July 2024 Payment date: 21st August 2024 Dividend yield will be 0.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (19% earnings payout ratio) but not adequately covered by cash flows (91% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 20% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹483, the stock trades at a trailing P/E ratio of 26x. Average trailing P/E is 30x in the Auto Components industry in India. Total returns to shareholders of 191% over the past three years. Aankondiging • May 18
Duncan Engineering Limited, Annual General Meeting, Jul 22, 2024 Duncan Engineering Limited, Annual General Meeting, Jul 22, 2024. Reported Earnings • May 17
Full year 2024 earnings released: EPS: ₹18.60 (vs ₹26.80 in FY 2023) Full year 2024 results: EPS: ₹18.60 (down from ₹26.80 in FY 2023). Revenue: ₹673.1m (down 4.0% from FY 2023). Net income: ₹68.7m (down 31% from FY 2023). Profit margin: 10% (down from 14% in FY 2023). 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 40% per year, which means it is well ahead of earnings. Aankondiging • May 16
Duncan Engineering Limited Recommends Final Dividend for the Financial Year 2023-24, Will Be Paid Within 10 Days of Its Approval Duncan Engineering Limited announced the Board of Directors in its meeting held on 15th May 2024, recommended the final dividend of INR 3.50/- (35%) per equity share of INR 10/- each for the financial year 2023-24, subject to the approval of the members at the upcoming Annual General Meeting. The dividend, if approved by the Members, will be paid within 10 days of its approval by Members of the Company at its upcoming Annual General Meeting scheduled to be held 22 july 2024. Aankondiging • May 09
Duncan Engineering Limited to Report Q4, 2024 Results on May 15, 2024 Duncan Engineering Limited announced that they will report Q4, 2024 results on May 15, 2024 Reported Earnings • Jan 24
Third quarter 2024 earnings released: EPS: ₹3.38 (vs ₹6.44 in 3Q 2023) Third quarter 2024 results: EPS: ₹3.38 (down from ₹6.44 in 3Q 2023). Revenue: ₹155.4m (down 6.6% from 3Q 2023). Net income: ₹12.5m (down 48% from 3Q 2023). Profit margin: 8.0% (down from 14% in 3Q 2023). 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 59% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jan 16
Duncan Engineering Limited to Report Q3, 2024 Results on Jan 23, 2024 Duncan Engineering Limited announced that they will report Q3, 2024 results on Jan 23, 2024 Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹481, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 31x in the Auto Components industry in India. Total returns to shareholders of 310% over the past three years. Aankondiging • Oct 19
Duncan Engineering Limited Announces Resignation of A. Fernandez Arockiaraj as Head Operations, Effective January 12, 2024 Duncan Engineering Limited announced that Mr. A. Fernandez Arockiaraj, Head Operations of the Company has tendered his resignation from the said post with effect from January 12, 2024, due to personal issues. The said resignation letter is enclosed herewith. It is further informed that there is no other material reason for the resignation other than the reason mentioned above. The Company has accepted his resignation and has relieved him from the duties w.e.f. close of business hours of January 12, 2024. Reported Earnings • Oct 18
Second quarter 2024 earnings released: EPS: ₹4.35 (vs ₹9.00 in 2Q 2023) Second quarter 2024 results: EPS: ₹4.35 (down from ₹9.00 in 2Q 2023). Revenue: ₹164.9m (down 11% from 2Q 2023). Net income: ₹16.1m (down 52% from 2Q 2023). Profit margin: 9.8% (down from 18% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Oct 10
Duncan Engineering Limited to Report Q2, 2023 Results on Oct 17, 2023 Duncan Engineering Limited announced that they will report Q2, 2023 results on Oct 17, 2023 Reported Earnings • Jul 31
First quarter 2024 earnings released: EPS: ₹5.46 (vs ₹5.46 in 1Q 2023) First quarter 2024 results: EPS: ₹5.46 (in line with 1Q 2023). Revenue: ₹156.4m (down 4.7% from 1Q 2023). Net income: ₹20.2m (flat on 1Q 2023). Profit margin: 13% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 78% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jul 23
Duncan Engineering Limited to Report Q1, 2024 Results on Jul 28, 2023 Duncan Engineering Limited announced that they will report Q1, 2024 results on Jul 28, 2023 Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹592, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 27x in the Auto Components industry in India. Total returns to shareholders of 518% over the past three years. Upcoming Dividend • Jul 13
Upcoming dividend of ₹1.00 per share at 0.2% yield Eligible shareholders must have bought the stock before 20 July 2023. Payment date: 26 August 2023. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.8%). Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹517, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 24x in the Auto Components industry in India. Total returns to shareholders of 393% over the past three years. Valuation Update With 7 Day Price Move • May 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹411, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 23x in the Auto Components industry in India. Total returns to shareholders of 333% over the past three years. Reported Earnings • May 19
Full year 2023 earnings released: EPS: ₹26.80 (vs ₹16.90 in FY 2022) Full year 2023 results: EPS: ₹26.80 (up from ₹16.90 in FY 2022). Revenue: ₹715.8m (up 28% from FY 2022). Net income: ₹99.0m (up 59% from FY 2022). Profit margin: 14% (up from 11% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹453, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 25x in the Auto Components industry in India. Total returns to shareholders of 331% over the past three years. Reported Earnings • Jan 26
Third quarter 2023 earnings released: EPS: ₹6.44 (vs ₹4.03 in 3Q 2022) Third quarter 2023 results: EPS: ₹6.44 (up from ₹4.03 in 3Q 2022). Revenue: ₹166.3m (up 18% from 3Q 2022). Net income: ₹23.8m (up 60% from 3Q 2022). Profit margin: 14% (up from 11% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jan 14
Duncan Engineering Limited to Report Q3, 2023 Results on Jan 24, 2023 Duncan Engineering Limited announced that they will report Q3, 2023 results on Jan 24, 2023 Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. MD & Director Akshat Goenka was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improved over the past week After last week's 42% share price gain to ₹410, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 23x in the Auto Components industry in India. Total returns to shareholders of 220% over the past three years. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: ₹9.00 (vs ₹3.85 in 2Q 2022) Second quarter 2023 results: EPS: ₹9.00 (up from ₹3.85 in 2Q 2022). Revenue: ₹189.7m (up 38% from 2Q 2022). Net income: ₹33.3m (up 134% from 2Q 2022). Profit margin: 18% (up from 10% in 2Q 2022). The increase in margin was driven by higher revenue. 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 29% per year, which means it is significantly lagging earnings growth. Aankondiging • Nov 02
Duncan Engineering Limited Appoints Sayalee Yengul as Company Secretary & Compliance Officer Duncan Engineering Limited announced that Board of Directors at their Meeting held on November 1, 2022 has, inter alia, approved the appointment of Ms. Sayalee Yengul as Company Secretary & Compliance Officer (Key Managerial Personnel) w.e.f. November 1, 2022. Ms. Sayalee Yengul is a commerce graduate and Company Secretary (Membership No: A37267) with post-qualification experience of 8 years. She was earlier working with G G Dandekar Machine Works Ltd. (Kirloskar Group) and P N Gadgil Jewellers Pvt Ltd. Aankondiging • Oct 22
Duncan Engineering Limited to Report First Half, 2023 Results on Nov 01, 2022 Duncan Engineering Limited announced that they will report first half, 2023 results on Nov 01, 2022 Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improved over the past week After last week's 16% share price gain to ₹294, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 22x in the Auto Components industry in India. Total returns to shareholders of 170% over the past three years. Buying Opportunity • Sep 09
Now 20% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be ₹352, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 38%. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 16% share price gain to ₹289, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 22x in the Auto Components industry in India. Total returns to shareholders of 197% over the past three years. Aankondiging • Jul 23
Duncan Engineering Limited Announces Resignation of Rajib Kumar Gope as Company Secretary Duncan Engineering Limited announced resignation of Mr. Rajib Kumar Gope as Company Secretary and Compliance officer of the Company due to personal reasons with effect from July 22, 2022. Aankondiging • Jul 20
Duncan Engineering Limited Announces Resignation of Brij Behari Tandon as Independent Director Duncan Engineering Limited announced that Mr. Brij Behari Tandon Independent Director of the Company has vide his resignation letter dated 19th July 2022, resigned from the Board of the Company with immediate effect, on account of health and personal reason. Date of Cessation 19 July 2022. Reported Earnings • Jun 29
Full year 2022 earnings released: EPS: ₹16.90 (vs ₹21.61 in FY 2021) Full year 2022 results: EPS: ₹16.90 (down from ₹21.61 in FY 2021). Revenue: ₹557.7m (up 34% from FY 2021). Net income: ₹62.4m (down 22% from FY 2021). Profit margin: 11% (down from 19% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Aankondiging • Jun 24
Duncan Engineering Limited, Annual General Meeting, Jul 21, 2022 Duncan Engineering Limited, Annual General Meeting, Jul 21, 2022, at 10:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₹207, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 21x in the Auto Components industry in India. Total returns to shareholders of 97% over the past three years. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improved over the past week After last week's 23% share price gain to ₹242, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 24x in the Auto Components industry in India. Total returns to shareholders of 163% over the past three years. Buying Opportunity • May 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 39%. The fair value is estimated to be ₹261, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has grown by 50%. Aankondiging • May 04
Duncan Engineering Limited to Report Q4, 2022 Results on May 17, 2022 Duncan Engineering Limited announced that they will report Q4, 2022 results on May 17, 2022 Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. MD & Director Akshat Goenka was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹278, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 21x in the Auto Components industry in India. Total returns to shareholders of 280% over the past three years. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 23% share price gain to ₹270, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 20x in the Auto Components industry in India. Total returns to shareholders of 234% over the past three years. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹180, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 21x in the Auto Components industry in India. Total returns to shareholders of 112% over the past three years. Reported Earnings • Oct 23
Second quarter 2022 earnings released: EPS ₹3.85 (vs ₹4.46 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: ₹138.9m (up 20% from 2Q 2021). Net income: ₹14.2m (down 14% from 2Q 2021). Profit margin: 10% (down from 14% in 2Q 2021). The decrease in margin was driven by higher expenses. 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 38% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improved over the past week After last week's 17% share price gain to ₹226, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 22x in the Auto Components industry in India. Total returns to shareholders of 160% over the past three years. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improved over the past week After last week's 18% share price gain to ₹196, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 20x in the Auto Components industry in India. Total returns to shareholders of 125% over the past three years. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 26% share price gain to ₹232, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 31x in the Auto Components industry in India. Total returns to shareholders of 177% over the past three years. Reported Earnings • Jul 27
First quarter 2022 earnings released: EPS ₹2.09 (vs ₹2.11 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹111.2m (up 144% from 1Q 2021). Net income: ₹7.72m (up ₹15.5m from 1Q 2021). Profit margin: 6.9% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improved over the past week After last week's 22% share price gain to ₹216, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 31x in the Auto Components industry in India. Total returns to shareholders of 216% over the past three years. Aankondiging • Jul 03
Duncan Engineering Limited Announces Judgment on Labor Matter by Hon'ble High Court Duncan Engineering Limited announced that this is regarding workmen related case of 2014. The Company had lost the case in the second Labor Court, Pune in January 2020 and accordingly the estimated wage liability of INR 17.558 million was provided in that quarter. The disclosure of the same was given by way of Note to Financial result for the quarter and year ended 31 March 2020. The Company had appealed before the Hon'ble Bombay High Court against the Judgment of aforementioned Labor Court. The Hon'ble Bombay High Court in their judgement dated June 21, 2021, (certified copy yet to be received), dismissed appeal on the ground of non-compliance of the provision under Section 33(2)(b) of the Industrial Disputes Act. The Company is planning to approach Hon'ble Supreme Court against the Order of the Hon'ble Bombay High Court. Aankondiging • Apr 20
Duncan Engineering Limited Announces Resumption of Manufacturing Operations at Pune District Duncan Engineering Limited announced that it is resuming its manufacturing operations with effect from April 19 2021 at plant situated at F-33 Ranjangaon MIDC, Karegaon, Tal. Shirur, district Pune with all the necessary precautionary hygiene and safety measures. The Company shall be taking all necessary precautions, adopting social distancing and other safety measures and shall abide by all government/local administration guidelines for prevention and containment of COVID-19 for resuming the operation of plant. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS ₹3.05 (vs ₹2.17 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹119.6m (up 19% from 3Q 2020). Net income: ₹11.3m (up 40% from 3Q 2020). Profit margin: 9.4% (up from 8.0% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 28
Third quarter 2021 earnings released: EPS ₹3.05 (vs ₹2.17 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹120.7m (up 20% from 3Q 2020). Net income: ₹11.3m (up 40% from 3Q 2020). Profit margin: 9.3% (up from 8.0% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 01
New 90-day high: ₹133 The company is up 27% from its price of ₹105 on 01 October 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 20% over the same period. Valuation Update With 7 Day Price Move • Jan 01
Investor sentiment improved over the past week After last week's 16% share price gain to ₹133, the stock is trading at a trailing P/E ratio of 56.7x, up from the previous P/E ratio of 49x. This compares to an average P/E of 33x in the Auto Components industry in India. Total returns to shareholders over the past three years are 32%. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 16% share price gain to ₹121, the stock is trading at a trailing P/E ratio of 51.6x, up from the previous P/E ratio of 44.4x. This compares to an average P/E of 33x in the Auto Components industry in India. Total returns to shareholders over the past three years are 20%. Is New 90 Day High Low • Dec 10
New 90-day high: ₹113 The company is up 19% from its price of ₹95.00 on 11 September 2020. The Indian market is up 18% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Auto Components industry, which is up 24% over the same period. Is New 90 Day High Low • Oct 26
New 90-day high: ₹105 The company is up 5.0% from its price of ₹100 on 28 July 2020. The Indian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 13% over the same period. 
