PIX TRANSMISSIONS LTD
Q2 FY 21 RESULTS REVIEW
DT 03-12-2020
COMPANY OVERVIEW
Pix Transmissions Ltd is the fastest emerging global leader in power & fluid transmission business.
The company is engaged into the manufacturing of World Class Quality Industrial & Automotive Belts, Hoses, Hose Assemblies and End Fittings to suit various Power Drive needs.
The product range of the company includes Mechanical Power Transmission Products-PIX Industrial Belts, Automotive Belts & Allied Products, PIX X`act Synchronous or Timing Belts, Profile Top Belts, Special Construction Belts, Application Specific Belts. Fluid Power Transmission Products-PIX Performer Hydraulic Hoses, PIX Performer/T Hydraulic Hoses, PIX Prokomp Compact Hydraulic Hoses, PIX Brute/ K Hydraulic Hosses, PIX Brute/ K+ Hydraulic Hoses, PIX Thermal Hydraulic Hoses, PIX X`el Extra High Pressure Hydraulic Hoses, PIX Optimal Hydraulic Hoses, Mining PRO Hydraulic Hoses, PIX Aquawash Hoses, PIX Special Application Hoses, PIX Pulsar Spiral Hose, PIX Impetus Spiral Hose, PIX Tex`el Industrial Hoses, PIX Tex`el TP Thermoplastic Hoses. End Connectors-PIX X`el FIT End Fittings, Standard Fittings, Interlock Fittings and Reusable Fittings. Accessories.A dapters
MANAGEMENT
Amarpal Sethi Chairman & Managing Director
Sonepal Sethi Joint Managing Director
Rishipal Sethi Joint Managing Director
Karanpal Sethi CFO
QUARTERLY RESULTS
|
Pix Transmissions (in Rs. Cr.) |
Sep '20 |
Jun '20 |
Mar '20 |
Dec '19 |
Sep '19 |
YOY |
QOQ |
|
|
Net Sales |
101.59 |
59.95 |
85.25 |
83.58 |
75.4 |
34.73 |
69.46 |
|
|
FINAL NPT |
19.5 |
5.1 |
8.5 |
7.7 |
8.0 |
144 |
283 |
|
|
Equity Share Capital |
13.63 |
13.63 |
13.63 |
13.63 |
13.63 |
0 |
0 |
|
|
Basic EPS |
14.32 |
3.74 |
6.22 |
5.68 |
5.88 |
143.54 |
282.89 |
|
|
Raw Materials |
38.44 |
24.06 |
31.13 |
29.26 |
30.06 |
27.88 |
59.77 |
|
|
Increase/Decrease in Stocks |
-5.02 |
-1.14 |
-0.2 |
2.63 |
-2.87 |
74.91 |
340.35 |
|
|
Employees Cost |
19.15 |
14.85 |
20.64 |
19.39 |
18.39 |
4.13 |
28.96 |
|
|
Depreciation |
4.9 |
4.93 |
6.11 |
4.23 |
4.22 |
16.11 |
-0.61 |
|
|
Other Expenses |
16.57 |
8.73 |
16.79 |
17.47 |
16.78 |
-1.25 |
89.81 |
|
|
P/L Before Other Inc., Int., Excpt. Items & Tax |
27.56 |
8.52 |
10.78 |
10.6 |
8.82 |
212.47 |
223.47 |
|
|
Other Income |
0.57 |
1.62 |
2.94 |
2.14 |
1.91 |
-70.16 |
-64.81 |
|
|
P/L Before Int., Excpt. Items & Tax |
28.13 |
10.14 |
13.73 |
12.75 |
10.73 |
162.16 |
177.42 |
|
|
Interest |
2.28 |
2.42 |
2.61 |
2.79 |
2.86 |
-20.28 |
-5.79 |
|
|
P/L Before Tax |
25.85 |
7.72 |
11.12 |
9.96 |
7.87 |
228.46 |
234.84 |
|
|
Tax |
6.35 |
2.63 |
2.64 |
2.22 |
-0.14 |
-4635.71 |
141.44 |
|
MP 236.85
PE 4.13
VOLUME 9926
52 Wk L/H 78.05 243
Market Depth
BUY 766
SELL 2776
22%
78%
Market Cap (Rs Cr.) 325.3
|
Annual |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Sales |
318 |
309 |
264 |
251 |
234 |
|
Net Profit |
30 |
28 |
22 |
16 |
6 |
|
Other Income |
7 |
7 |
5 |
6 |
3 |
|
Total Income |
326 |
316 |
270 |
257 |
237 |
|
Total Expenditure |
277 |
266 |
223 |
218 |
210 |
|
EBIT |
48 |
49 |
46 |
38 |
26 |
|
Interest |
11 |
11 |
13 |
14 |
16 |
|
Tax |
7 |
9 |
11 |
8 |
3 |
|
HISTORICAL PRICEAS |
|
|
TIME |
RS. |
|
3YRS BEF |
172 |
|
2YRS BEF |
193.95 |
|
1YR BEF |
116.2 |
|
3M BEF |
135 |
|
1M BEF |
144.95 |
|
1 WEEK |
210.1 |
|
NOW |
236.85 |
|
Share Holding Pattern in (%) |
||||
|
Standalone |
Jun-20 |
Mar-20 |
Sep-19 |
Jun-19 |
|
Promoters |
61.56 |
61.54 |
61.21 |
61.18 |
|
Pledged |
0 |
0 |
0 |
0 |
|
FII/FPI |
1.43 |
1.43 |
1.35 |
1.35 |
|
Total DII |
7.42 |
7.33 |
7.04 |
7.38 |
|
Fin.Insts |
0.02 |
0.02 |
0.02 |
0.02 |
|
Insurance Co |
0 |
0 |
0 |
0 |
|
MF |
0 |
0 |
0 |
0 |
|
Others DIIs |
7.4 |
7.31 |
7.02 |
7.36 |
|
Others |
29.59 |
29.71 |
30.4 |
30.09 |
|
Total |
100 |
100.01 |
100 |
100 |
|
CASH FLOWS |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Operating Activities |
52 |
47 |
31 |
27 |
63 |
|
Investing Activities |
-27 |
-33 |
-13 |
-14 |
-25 |
|
Financing Activities |
-19 |
-10 |
-24 |
-12 |
-30 |
|
Others |
0 |
0 |
0 |
0 |
0 |
|
Net Cash Flow |
5 |
2 |
-6 |
0 |
7 |
|
Leverage Ratios |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Debt to Equity (x) |
0.43 |
0.53 |
0.55 |
0.75 |
0.83 |
|
Interest Coverage Ratios (%) |
4.37 |
4.32 |
3.61 |
2.69 |
1.58 |
STRENGTHS
New 52 Week High
Good quarterly growth in the recent results
ROA improving since last 2 year
Growth
in Net Profit with increasing Profit Margin (QoQ) & YOY
Low Debt
Strong cash generating ability from core business - Improving Cash Flow from operation for last 2 years
Company able to generate Net Cash - Improving Net Cash Flow for last 2 years
Annual Net Profits improving
Book Value per share Improving
Company with Zero Promoter Pledge
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