Capitaline

Sales of Coil spiring & Forging items segment has gone up 18.95% to Rs 33.02 crore (accounting for 100.00% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has jumped 70.44% to Rs 5.69 crore. PBIT of Coil spiring & Forging items segment rose 70.44% to Rs 5.69 crore (accounting for 100.00% of total PBIT).

PBIT margin of Coil spiring & Forging items segment rose from 12.02% to 17.22%. Overall PBIT margin rose from 12.02% to 17.22%.

For year-to-date (YTD) results analysis

For the nine month ended Dec 2023, the standalone net sales (including other operating income) of Frontier Springs has increased 16.71% to Rs 91.27 crore. Sales of Coil spiring & Forging items segment has gone up 16.71% to Rs 91.27 crore (accounting for 100.00% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has jumped 35.26% to Rs 15.04 crore. PBIT of Coil spiring & Forging items segment rose 35.26% to Rs 15.04 crore (accounting for 100.00% of total PBIT).

PBIT margin of Coil spiring & Forging items segment rose from 14.22% to 16.48%. Overall PBIT margin rose from 14.22% to 16.48%.

Operating profit margin has jumped from 11.43% to 14.64%, leading to 49.44% rise in operating profit to Rs 13.36 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 50.58% to 49.62%. Employee cost decreased from 3.66% to 3.43%. Other expenses fell from 34.75% to 32.61%.

Other income fell 65.12% to Rs 0.15 crore. PBIDT rose 44.18% to Rs 13.51 crore. Provision for interest fell 46.15% to Rs 0.14 crore.

PBDT rose 46.76% to Rs 13.37 crore. Provision for depreciation rose 19.46% to Rs 2.64 crore. Profit before tax grew 55.51% to Rs 10.73 crore. Provision for tax was expense of Rs 2.79 crore, compared to Rs 1.83 crore. Effective tax rate was 26.00% compared to 26.52%.Profit after tax rose 56.61% to Rs 7.94 crore.

Promoters’ stake was 51.76% as of 31 December 2023 ,compared to 51.76% as of 31 December 2022 .

Quarter ended

Year to Date

Year ended

Particulars

202312

202212

Var.(%)

202312

202212

Var.(%)

202303

202203

Var.(%)

Net Sales (including other operating income)

33.02

27.76

18.95

91.27

78.20

16.71

107.36

83.66

28.33

OPM (%)

15.60

9.73

587 bps

14.64

11.43

321 bps

11.79

14.61

-281 bps

5.15

2.70

90.74

13.36

8.94

49.44

12.66

12.22

3.60

Other Inc.

0.05

0.14

-64.29

0.15

0.43

-65.12

0.64

0.98

-34.69

PBIDT

5.20

2.84

83.10

13.51

9.37

44.18

13.30

13.20

0.76

Interest

0.04

0.08

-50.00

0.14

0.26

-46.15

0.33

0.28

17.86

PBDT

5.16

2.76

86.96

13.37

9.11

46.76

12.97

12.92

0.39

Depreciation

0.86

0.74

16.22

2.64

2.21

19.46

3.2

2.85

12.28

PBT

4.30

2.02

112.87

10.73

6.9

55.51

9.77

10.07

-2.98

PBT before EO

4.3

2.02

112.87

10.73

6.9

55.51

9.77

10.07

-2.98

EO Income

PBT after EO

4.3

2.02

112.87

10.73

6.9

55.51

9.77

10.07

-2.98

Taxation

1.08

0.51

111.76

2.79

1.83

52.46

2.53

2.56

-1.17

PAT

3.22

1.51

113.25

7.94

5.07

56.61

7.24

7.51

-3.60

P/(L) from discontinued operations net of tax

Net profit after discontinued operations

3.22

1.51

113.25

7.94

5.07

56.61

7.24

7.51

-3.60

EPS (Rs)*

8.17

3.83

113.25

20.15

12.87

56.61

18.38

19.06

-3.60

* EPS is on current equity of Rs 3.94 crore, Face value of Rs 10, Excluding extraordinary items.

# EPS is not annualised

bps : Basis points

EO : Extraordinary items

Figures in Rs crore

Source: Capitaline Corporate Database

Quarter ended

Year to Date

Year ended

% of (Total)

202312

202212

Var.(%)

% of (Total)

202312

202212

Var.(%)

% of (Total)

202303

202203

Var.(%)

Sales

Coil spiring & Forging items

100.00

33.02

27.76

18.95

100.00

91.27

78.20

16.71

100.00

107.35

83.66

28.33

Roofing Sheets

0.00

Total Reported Sales

100.00

33.02

27.76

18.95

100.00

91.27

78.20

16.71

100.00

107.36

83.66

28.33

Less: Inter segment revenues

0.00

Net Sales

100.00

33.02

27.76

18.95

100.00

91.27

78.20

16.71

100.00

107.36

83.66

28.33

PBIT

Coil spiring & Forging items

100.00

5.69

3.34

70.44

100.00

15.04

11.12

35.26

100.00

16.57

15.40

7.65

Roofing Sheets

0.00

Total PBIT

100.00

5.69

3.34

70.44

100.00

15.04

11.12

35.26

100.00

16.57

15.40

7.65

Less : Interest

0.01

0.06

-85.78

0.05

0.19

-73.72

0.23

0.14

65.35

Add: Other un-allcoable

-1.37

-1.26

-8.88

-4.26

-4.02

-5.98

-6.57

-5.18

-26.84

PBIT Margin(%)

Coil spiring & Forging items

17.22

12.02

520.38

16.48

14.22

225.93

15.44

18.40

-296.58

Roofing Sheets

0.00

12.00

0.00

1,200.00

PBT

100.00

4.31

2.01

113.98

100.00

10.73

6.90

55.39

100.00

9.77

10.08

-3.00

Peer Comparision (Standalone)

Q-202312

Sales
(Rs. Crs)

var.(%)

OP
(Rs. Crs)

var.(%)

Net Profit
(Rs. Crs)

var.(%)

Share Price(Rs)
09-Feb-2024

var.(%)
over
One year

TTM EPS

TTM PE

Frontier Springs Ltd

33.02

18.95

5.15

90.74

3.22

113.25

1,244.15

177.40

25.63

48.53

Alicon Castalloy Ltd

353.66

6.84

45.54

16.26

12.75

-11.58

970.15

11.07

25.44

38.13

Amara Raja Energy & Mobility Ltd

2,881.06

9.25

409.91

3.29

239.64

7.55

869.75

42.13

47.93

18.15

ASK Automotive Ltd

741.24

16.36

75.04

32.18

46.42

42.48

314.75

0.00

6.58

47.83

Automobile Corporation Of Goa Ltd

136.31

58.32

11.24

171.5

9.78

138.54

1,703.40

101.54

57.80

29.47

Automotive Axles Ltd

541.33

-17.45

57.90

-25.55

39.15

-22.75

1,967.95

-20.04

114.41

17.20

Automotive Stampings & Assemblies Ltd

216.44

12.09

12.39

49.46

4.74

132.35

649.45

104.78

10.04

64.66

Banco Products (India) Ltd

229.56

-0.82

39.34

-5.18

60.74

83.95

698.70

221.76

34.50

20.25

Bharat Gears Ltd

142.78

-24.59

0.79

-91.23

-5.50

121.15

-5.35

-4.66

Bharat Seats Ltd

249.98

14.05

14.65

44.19

5.52

16.21

160.10

79.08

7.75

20.65

Craftsman Automation Ltd

805.17

7.7

157.21

-0.59

45.33

-11.52

4,161.75

26.87

110.03

37.82

Divgi Torqtransfer Systems Ltd

63.05

-1.47

12.90

-28.77

9.37

-22.24

864.90

42.92

14.38

60.16

Endurance Technologies Ltd

1,993.38

24.84

231.09

30.06

132.40

43.59

1,842.25

31.59

36.26

50.81

Exide Industries Ltd

3,840.53

12.56

439.93

9.71

240.27

7.65

338.50

88.47

11.49

29.45

Fiem Industries Ltd

483.11

10.32

64.49

8.15

40.30

25.86

2,317.25

32.62

119.07

19.46

Gabriel India Ltd

813.81

14.46

70.21

36.7

42.96

47.53

370.05

124.41

11.57

31.99

GNA Axles Ltd

357.00

-11.69

47.09

-25.04

22.47

-37.2

433.05

-1.47

27.32

15.85

Harsha Engineers International Ltd

258.84

14.33

37.55

1.24

29.97

-5.01

395.00

7.54

13.85

28.51

HBL Power Systems Ltd

594.60

80.73

105.78

168.75

78.19

253.32

592.40

510.09

8.35

70.96

Him Teknoforge Ltd

80.79

-16.74

7.19

-11.89

0.54

-76.92

196.90

131.65

8.25

23.86

Igarashi Motors India Ltd

173.75

4.05

17.29

12.93

1.56

16.42

516.20

28.63

3.84

134.50

India Motor Parts & Accessories Ltd

182.00

-2.13

13.19

-10.64

14.90

13.05

1,146.35

60.52

63.46

18.06

IP Rings Ltd

73.92

-10.44

4.99

-12.3

-0.95

189.35

67.86

-4.40

Jamna Auto Industries Ltd

593.26

5.85

81.50

43.76

54.59

53.6

123.00

18.55

5.93

20.74

JBM Auto Ltd

1,260.36

36.03

88.61

0.58

20.73

-29.7

2,014.50

314.46

6.55

307.33

L G Balakrishnan & Bros Ltd

570.17

3.48

104.07

-2.75

71.69

2.78

1,269.25

92.02

80.26

15.81

Lumax Industries Ltd

631.72

9.03

57.68

2.41

36.37

67.06

2,398.20

32.38

84.17

28.49

Machino Plastics Ltd

83.57

3.08

6.78

28.9

1.11

200

218.75

82.29

4.30

50.88

Menon Pistons Ltd

49.32

-5.41

7.46

-8.58

6.16

26.49

109.80

125.23

4.91

22.37

Minda Corporation Ltd

969.01

11.47

112.93

25.73

44.32

8.68

399.60

97.63

8.47

47.16

Motherson Sumi Wiring India Ltd

2,111.08

25.92

262.00

46.41

167.86

58.12

68.94

31.31

1.32

52.07

Munjal Showa Ltd

303.32

-1.37

3.41

-42.5

8.64

126.77

185.90

99.89

9.19

20.23

NDR Auto Components Ltd

140.27

32.67

12.94

73.46

6.81

59.86

786.05

139.52

25.99

30.24

Omax Autos Ltd

105.34

35.12

6.38

98.75

-0.27

89.49

113.57

115.50

0.94

120.86

PPAP Automotive Ltd

119.75

-4.02

10.89

15.85

0.24

-7.69

240.05

13.36

1.79

133.89

Precision Camshafts Ltd

160.96

6.88

31.21

44.02

23.60

3.69

225.55

120.80

8.12

27.78

Pricol Ltd

553.22

23.06

64.68

29.96

30.96

17.67

419.25

112.66

9.40

44.60

Pritika Auto Industries Ltd

70.55

6.33

8.36

30.83

2.82

27.03

51.11

192.06

1.41

36.32

RACL Geartech Ltd

113.43

17.08

27.17

15.96

12.41

3.42

1,091.00

25.89

37.96

28.74

Rane (Madras) Ltd

521.05

-1.01

50.13

3.68

11.23

-67.87

736.45

62.68

47.01

15.67

Rane Brake Lining Ltd

164.25

7.12

18.08

12.58

10.12

10.36

868.65

19.44

47.75

18.19

Rane Engine Valve Ltd

136.42

9.96

11.79

408.19

3.50

392.96

443.10

106.81

19.17

23.11

Remsons Industries Ltd

70.33

6.95

6.54

14.94

3.97

48.69

816.40

263.49

16.43

49.70

Rico Auto Industries Ltd

390.81

-13.83

38.58

-11

5.91

-8.09

92.70

9.25

2.86

32.42

Rolex Rings Ltd

273.31

-11.07

52.65

-23.05

37.02

-29.87

2,127.85

19.33

65.67

32.40

S J S Enterprises Ltd

91.05

27.38

26.91

23.44

16.54

15.5

609.55

30.89

19.75

30.86

Sandhar Technologies Limited

694.78

15.72

69.43

16.45

33.64

25.71

473.90

102.69

18.20

26.04

Sar Auto Products Ltd

5.67

113.16

0.58

13.73

0.49

104.17

2,399.00

166.57

1.89

1,270.07

Setco Automotive Ltd

0.29

190

0.08

0.51

8.88

-10.84

-0.59

Sharda Motor Industries Ltd

689.12

0.45

94.34

46.99

75.08

62.93

1,380.65

109.21

90.72

15.22

Shriram Pistons & Rings Ltd

708.47

11.39

155.00

31.62

108.16

43.52

1,784.65

174.04

95.08

18.77

Sona BLW Precision Forgings Ltd

708.33

14.94

214.57

34.16

121.77

27.39

618.20

32.97

8.65

71.51

Steel Strips Wheels Ltd

1,110.30

18.31

116.69

8.16

59.54

36.03

261.40

66.92

13.18

19.83

Subros Ltd

732.48

11.9

59.56

77.26

26.79

227.11

615.80

112.31

13.12

46.92

Sundaram Brake Linings Ltd

84.80

-2.85

5.97

3.16

698.25

119.68

29.72

23.49

Sundram Fasteners Ltd

1,180.62

-3.77

176.89

-1.12

116.19

9.48

1,130.20

15.19

22.04

51.29

Talbros Automotive Components Ltd

198.74

25.36

30.43

34.41

18.03

68.66

288.70

195.83

10.13

28.51

Talbros Engineering Ltd

108.23

-0.26

11.47

-14.66

4.44

-38.33

666.55

24.09

35.69

18.67

Tube Investments of India Ltd

1,781.31

10.95

239.45

11.67

157.50

14.37

3,451.30

36.93

39.39

87.62

Uno Minda Ltd

2,250.18

24.95

221.01

14.43

121.13

1.58

640.05

21.56

9.07

70.56

Varroc Engineering Ltd

1,169.52

19.42

108.49

304.20

160005

532.95

90.51

18.18

29.32

Wheels India Ltd

1,130.08

12.56

61.51

29.39

12.58

-18.1

627.35

19.42

23.22

27.02

Z F Steering Gear (India) Ltd

113.50

3.87

10.03

-9.07

12.03

169.13

979.50

136.31

52.38

18.70

ZF Commercial Vehicle Control System India Ltd

886.82

1.23

131.06

9.16

99.62

16.62

14,588.40

47.03

213.57

68.31

Industry

38,281.12

12.14

4,678.17

15.66

2,924.96

33.5

4,55,018.68

52.59

24.51