BHARAT SEATS LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 161.2 INR | +4.64% |
|
+6.51% | -3.12% |
| Apr. 23 | ICRA Affirms A- Rating on Bharat Seats' Long-term Bank Financing; Outlook Stable | MT |
| Mar. 31 | Bharat Seats Limited Announces Cessation of Independent Directors | CI |
Valuation
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 5,388 | 2,864 | 1,112 | 1,942 | 2,096 | 2,549 |
| Enterprise Value (EV) 1 | 5,613 | 3,051 | 1,500 | 2,284 | 2,476 | 3,196 |
| P/E ratio | 19.1 x | 13.4 x | 8.88 x | 40.4 x | 17.6 x | 11.8 x |
| Yield | 0.58% | 1.1% | 1.41% | 0.81% | 1.2% | 1.72% |
| Capitalization / Revenue | 0.56 x | 0.32 x | 0.19 x | 0.35 x | 0.26 x | 0.24 x |
| EV / Revenue | 0.58 x | 0.34 x | 0.25 x | 0.42 x | 0.3 x | 0.3 x |
| EV / EBITDA | 8.66 x | 6.1 x | 4.35 x | 8.78 x | 7.81 x | 6.99 x |
| EV / FCF | 19.7 x | 309 x | -18.8 x | -50.4 x | -19.6 x | -28.2 x |
| FCF Yield | 5.08% | 0.32% | -5.32% | -1.98% | -5.1% | -3.54% |
| Price to Book | 6.21 x | 2.74 x | 0.98 x | 1.67 x | 1.65 x | 1.74 x |
| Nbr of stocks (in thousands) | 31,400 | 31,400 | 31,400 | 31,400 | 31,400 | 31,400 |
| Reference price 2 | 171.6 | 91.20 | 35.40 | 61.85 | 66.75 | 81.19 |
| Announcement Date | 8/10/18 | 8/20/19 | 8/29/20 | 8/26/21 | 6/3/22 | 6/21/23 |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 9,703 | 9,036 | 5,886 | 5,477 | 8,176 | 10,510 |
| EBITDA 1 | 648 | 499.8 | 345 | 260.2 | 317.1 | 457 |
| EBIT 1 | 459.1 | 296.6 | 134.5 | 89.11 | 145.6 | 291.8 |
| Operating Margin | 4.73% | 3.28% | 2.29% | 1.63% | 1.78% | 2.78% |
| Earnings before Tax (EBT) 1 | 435 | 312.2 | 122.2 | 66.45 | 159.1 | 296.3 |
| Net income 1 | 282.2 | 214.2 | 125.2 | 48.06 | 119.1 | 215.5 |
| Net margin | 2.91% | 2.37% | 2.13% | 0.88% | 1.46% | 2.05% |
| EPS 2 | 8.986 | 6.820 | 3.987 | 1.530 | 3.790 | 6.860 |
| Free Cash Flow 1 | 284.9 | 9.882 | -79.79 | -45.29 | -126.2 | -113.2 |
| FCF margin | 2.94% | 0.11% | -1.36% | -0.83% | -1.54% | -1.08% |
| FCF Conversion (EBITDA) | 43.97% | 1.98% | - | - | - | - |
| FCF Conversion (Net income) | 100.99% | 4.61% | - | - | - | - |
| Dividend per Share 2 | 1.000 | 1.000 | 0.5000 | 0.5000 | 0.8000 | 1.400 |
| Announcement Date | 8/10/18 | 8/20/19 | 8/29/20 | 8/26/21 | 6/3/22 | 6/21/23 |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 225 | 187 | 388 | 342 | 380 | 647 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.3474 x | 0.3751 x | 1.125 x | 1.315 x | 1.198 x | 1.416 x |
| Free Cash Flow 1 | 285 | 9.88 | -79.8 | -45.3 | -126 | -113 |
| ROE (net income / shareholders' equity) | 37.9% | 22.4% | 11.5% | 4.18% | 9.77% | 15.8% |
| ROA (Net income/ Total Assets) | 10.3% | 6.65% | 3.27% | 2.09% | 2.89% | 5.25% |
| Assets 1 | 2,752 | 3,221 | 3,830 | 2,300 | 4,116 | 4,105 |
| Book Value Per Share 2 | 27.60 | 33.30 | 36.10 | 37.10 | 40.50 | 46.60 |
| Cash Flow per Share 2 | 0.7800 | 3.060 | 0.2500 | 0.2300 | 0.0300 | 0.1200 |
| Capex 1 | 230 | 247 | 341 | 189 | 172 | 605 |
| Capex / Sales | 2.37% | 2.73% | 5.8% | 3.45% | 2.1% | 5.76% |
| Announcement Date | 8/10/18 | 8/20/19 | 8/29/20 | 8/26/21 | 6/3/22 | 6/21/23 |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| -3.12% | 58.02M | |
| +29.62% | 50.98B | |
| +26.53% | 20.39B | |
| -20.63% | 19.42B | |
| +31.67% | 17.27B | |
| +1.48% | 15.84B | |
| -14.23% | 14.09B | |
| -20.46% | 13.35B | |
| +31.97% | 11.74B | |
| +28.24% | 10.66B |
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