Simmonds Marshall Ltd. share price target

Domestic automobile demand was in a downtrend due to a host of structural (idle capacity in CV space, higher vehicle ownership costs in PV) and cyclical factors (lower consumer spending, slowing economic activity, challenging financing norms) at play. Consequent OEM dispatches were low with total domestic dispatches down 16.4% YoY (YTDFY20). Among segments, 2-W volumes are down 16% YoY while CV segment volumes are down 23% YoY. This was troublesome for the automobile supply chain with auto ancillary players worst hit given the perils of negative operation leverage. SML was...

Simmonds Marshall (SML) reported a muted Q3FY19 performance, with EBITDA margins for the quarter coming in at a new low of 7.1% Net sales in Q3FY19 were at | 49.0 crore, up 6%. Topline growth came in muted primarily tracking de-growth being witnessed in the domestic auto space, particularly the scooter segment. The company was, however, rescued by the CV as well as railways segment EBITDA in Q3FY19 was at | 3.5 crore with corresponding EBITDA margins at 7.1%, down 560 bps YoY. Margins came in muted due to...

Simmonds Marshall Limited is an India-based company. The Company is engaged in the business of manufacturing of nyloc self-locking nuts (industrial fasteners). Its products include cleveloc self-locking nut, nyloc self-locking nut, u-nuts and wheel nuts, cap nuts, castle nuts, hose fitting nuts, flange nuts, cage nuts and weld nuts. The Company caters to the automotive and industrial sectors and supplies to all the automobile manufacturers in India, as original equipment (OE) suppliers. The...

Simmonds Marshall Ltd., a veteran player in the fasteners industry, has reported its standalone Q4FY17 result with a revenue growth of ~2.4%/2.0% YoY/QoQ, respectively, to ~Rs. 349 mn. The EBITDA of the Company stood ~Rs. 20 mn, de-growth of 31.8%/41.1% YoY/QoQ, with...