MEMBER'S LOGINX
| Login Failure | ||||||||
|
||||||||
| Sign Up | Forgot Password? | ||||||||
- Home
- Outlook Arena
- Apr 30, 2001 - Motor Industries net declines 52% YoY
Motor Industries net declines 52% YoY
Motor Industries Company Ltd (MICO),sales grew by 6% YoY in 1QFY02 to Rs 4,363 m. However, as the operating expenditure grew by 6.2% YoY during this period the company's operating margins dipped to 15.5% in 1QFY02.
| (Rs m) | 1QFY01 | 1QFY02 | Change |
| Sales | 4,116 | 4,363 | 6.0% |
| Other income | 89 | 71 | -20.8% |
| Expenditure | 3,472 | 3,688 | 6.2% |
| Operating profit (EBDIT) | 643 | 674 | 4.8% |
| Operating profit margin (%) | 15.6% | 15.5% | |
| Interest | 1 | 5 | 315.4% |
| Depreciation | 406 | 335 | -17.5% |
| Profit before Tax | 325 | 405 | 24.5% |
| Other adjustments | 400 | 44 | |
| Tax | 164 | 180 | |
| Profit after Tax/(Loss) | 561 | 269 | -52.1% |
| Net profit margin (%) | 13.6% | 6.2% | |
| No. of Shares (eoy) (m) | 3.6 | 3.4 | |
| Diluted number of shares | 3.6 | 3.4 | |
| Diluted Earnings per share* | 622.8 | 315.7 | |
| *(annualised) |
MICO is a 51% subsidiary of the German company Robert Bosch and is the country's largest auto ancillary player. It enjoys a near monopoly in diesel fuel injection (DFI) pumps with around 80% market share. It is also a leading player in spark plugs. Besides, it manufactures alternators, starter motors and auto electrical items.
Due to a change in valuation of inventory the company gained by Rs 308m in 1QFY01. Without this the company's net profit for 1QFY01 would have been lower at Rs 252 m. Had it not been for adjustments in changes in valuation of inventory, the company would have posted a gain in profits in 1QFY02, instead of a decline in profits.
The company is dependant on the commercial vehicles market mainly due to its strong presence in the diesel fuel injection pumps market. Though the company's sales have improved in 1QFY02, as a result of some pick up in the industry, the company in future plans to insulate itself by manufacturing petrol fuel injection pump sets to cater to the growing passenger car market, as this is a less cyclical market.
On the current price of Rs 2,392, MICO is trading at 7.7x FY01 EPS of Rs 311.
More Views on News
BOSCH 2019-20 Annual Report Analysis (Annual Result Update)
Oct 23, 2020 | Updated on Oct 23, 2020Here's an analysis of the annual report of BOSCH for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of BOSCH. Also includes updates on the valuation of BOSCH.
BOSCH Announces Quarterly Results (1QFY21); Net Profit Down 143.0% (Quarterly Result Update)
Sep 22, 2020 | Updated on Sep 22, 2020For the quarter ended June 2020, BOSCH has posted a net profit of Rs 1 bn (down 143.0% YoY). Sales on the other hand came in at Rs 10 bn (down 64.3% YoY). Read on for a complete analysis of BOSCH's quarterly results.
BOSCH Announces Quarterly Results (4QFY20); Net Profit Down 80.3% (Quarterly Result Update)
May 27, 2020 | Updated on May 27, 2020For the quarter ended March 2020, BOSCH has posted a net profit of Rs 811 m (down 80.3% YoY). Sales on the other hand came in at Rs 22 bn (down 18.6% YoY). Read on for a complete analysis of BOSCH's quarterly results.
BOSCH 2018-19 Annual Report Analysis (Annual Result Update)
Sep 16, 2019 | Updated on Sep 16, 2019Here's an analysis of the annual report of BOSCH for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of BOSCH. Also includes updates on the valuation of BOSCH.
More Views on NewsMost Popular
It's the Beginning of a New Bull Phase in Smallcaps (Profit Hunter)
Feb 24, 2021Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.
Make Rs 5,000 Per Day Trading the Market (Fast Profits Daily)
Feb 25, 2021In this video, I'll show you how to get started on the path to daily trading profits.
The Hidden Tesla in My Great Indian Wealth Project (Profit Hunter)
Feb 23, 2021An Indian company founded three decades ago in a garage caught my attention...
Gold 65,000 and Silver 84,000 in 2022
Feb 26, 2021In this episode of the Investor Hour, India's #1 trader, Vijay Bhambwani, talks to us about the stock market, his new targets for gold and silver, the best long-term investment opportunity, and a lot more.
MoreOUR TOP 5 IDEAS
- Free Report: Multibagger Stock Ideas 2021
- Are You Making One of These 15 Costly Mistakes While Investing. Learn more!
- Covid-19 Proof Multibagger Stocks - Download this FREE Report Now
- Free Report: The Secret to Increasing Your Trading Profits Daily!
- No Guessing, No Hunches, and No Missed Trends Ever! Join Us on YouTube Now.
BOSCH SHARE PRICE
Mar 8, 2021 (Close)
TRACK BOSCH
- Track your investment in BOSCH with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
- Add To MyStocks
MORE ON BOSCH
BOSCH 8-QTR ANALYSIS
COMPARE BOSCH WITH
MARKET STATS
ABOUT EQUITYMASTER
Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.
FREE NEWSLETTERS
PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
- Basics of Value Investing
- Benjamin Graham
- How to Invest in Gold
- How to Invest in Silver
- Best Stocks to Buy Today
- Warren Buffett - The Value Investor
- The Best Small-cap Stocks to Buy
- The Best Bluechip Stocks to Buy
- Your Ultimate Guide to Penny Stock Investing
- 10 Rules for Successful Long-Term Investing
- How to Invest in the Share Market
- Momentum Moves
FOLLOW
APP
Copyright © Equitymaster Agora Research Private Limited.
Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap
Equitymaster Agora Research Private Limited (Research Analyst) 103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Fax: +91-22-22028550. Email: info@equitymaster.com. Website: www.equitymaster.com. CIN:U74999MH2007PTC175407
All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.
LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.
Equitymaster requests your view! Post a comment on "Motor Industries net declines 52% YoY". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!