NDR Auto Components Good to Excellent Results, Tega Industries Capacity expansion And Kilburn Engineering Order
NDR Auto Components Ltd.
Recent filing: (GOOD TO EXCELLENT RESULTS) For the quarter ending Jun-24 for NDR Auto Component, Sales up 34% YoY from INR 128 Cr in Jun-23 to INR 171 Cr in Jun-24. Similarly, Net Profit up 50% from INR 8 Cr to INR 12 Cr. On a QoQ basis, Sales down 3% and Net Profit remained flat.
SUMMARY: 5y Operating profit uptrend | 2q Operating profit uptrend | PE 31.5x (Sector PE range 30-50) | Excellent Jun-24 results | Partnerships | Auto Ancillary
FUTURE OUTLOOK: As per Q4FY24 Concall, Company’s current order book stands at INR 250 Cr to INR 300 Cr, with an execution duration of 1.5 to 2 years | Company’s margins expected to be around 10%.
- MCap of INR 1,325 Crore (share price = INR 1,114 / share) (as on 9th Aug ‘24)
- TTM PE 31.5x (as on 9th Aug ‘24) Retail float = 12.9% (Jun-24)
FOOD FOR THOUGHT: Volatility in raw material price | Highly competitive sector
Q1. What are the Products and Services offered by NDR Auto Components?
NDR Auto Components Limited (NACL) is a part of the Rohit Relan Group which traces its origin to the 1930s. In the eighties, the group diversified into an entirely new sector – automotive manufacturing – establishing itself as a premier manufacturer of auto components under the name of Bharat Seats Limited and Sharda Motor Industries Limited (SMIL). NACL was incorporated in 2019, as the flagship company of Rohit Relan Group with a view to demerge the automobile seating business of SMIL.
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Tega Industries
Recent filing: (CAPACITY EXPANSION) Tega Industries has approved the augmentation of its shop floor capacity at the manufacturing facility located in Dahej, Gujarat. BoD has sanctioned an amount of approximately INR 29.3 Cr as capital expenditure for this project. The expansion will be completed over a period of 15 months and will be financed through internal accruals. Company currently has an existing shop floor area of 20,000 square meters, with a proposed capacity addition of 6,000 square meters.
SUMMARY: 6y Operating Profit uptrend | PE 56.7x (Sector PE range 30-60) | Institutional Entry | Capacity Expansion | Land Acquisition for future expansion | Industrial Products
FUTURE OUTLOOK: As per Q1FY25 Investor Presentation, Company has a Consolidated Order Book of INR 550 Cr as on June, 2024.
- MCap of INR 11,870 Crore (share price = INR 1,784 / share) (as on 9th Aug ‘24)
- TTM PE 56.7x (as on 9th Aug ‘24) Retail float = 3.6% (Jun-24)
FOOD FOR THOUGHT: Cash conversion cycle is 215 days.
Q1. What are the Products and Services offered by Tega Industries?
Tega Industries, one of the leading players in the designing and manufacturing of critical consumables for mineral processing, mining and material handling industries.
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Kilburn Engineering Ltd.
Recent filing: (ORDER) Kilburn Engineering has received sevral work orders worth INR 19 Cr for Rotary Dryer for Carbon Black, Paddle Dryer, VFBD and other Spares.
SUMMARY: 4y Operating Profit uptrend | PE 31.1x (Sector PE range 30-60) | Fund raise | Promoter buying | Capital Goods
FUTURE OUTLOOK: As per Q1FY25 Investor Presentation, Company has a Consolidated Order Book of INR 320 Cr as on June, 2024.
- MCap of INR 1,711 Crore (share price = INR 409 / share) (as on 9th Aug ‘24)
- TTM PE of 31.1x (as on 9th Aug ‘24) Retail float = 14.7% (Jul-24)
FOOD FOR THOUGHT: Working capital extensive business.
Q1. What are the Products and Services offered by Kilburn Engineering?
Company offers comprehensive range of dryers for solid, liquid and gas to cover wide range of industries: chemical, petrochemical, oil & gas, refineries power, steel, cement, fertilizer, mining, sewage treatment, food etc. It also manufactures specially designed packages for onshore and offshore applications.