STUDDS ACCESSORIES LIMITED UNLISTED SHARE
ABOUT STUDDS ACCESSORIES LIMITED
The Company’s story started in 1973. It has come a long way from making the first helmet in the garage to making 70lakhs helmets every year. In the past 5 years, it continued to evolve to achieve the global safety commitments to a two-wheeled motorcycle rider.
STUDDS Accessories Limited is a leading manufacturer of helmets and motorcycle accessories. Since its inception in 1983, over 3 decades, the company has continuously innovated products to ensure the safety of two-wheeler riders. It offers a wide range of two-wheeler helmets and accessories and possesses state-of-the-art manufacturing facilities, equipped to deliver over 132 Lakhs helmets every year.
STUDDS Accessories Limited has a strong global presence across Europe, Asia, Latin America, and the Middle East, covering more than 40 countries around the globe. The company’s unstoppable emphasis on safety along with design, style, and quality has gathered a loyal following for its unique and outstanding products.
INCORPORATION DETAILS
CIN | U25208HR1983PLC015135 |
Registration Date& Number | 03 February 1983, 15135 |
Address of the Registered office and contact details- | Registered Address: 23/7, Mathura Road, Ballabgarh, Faridabad 121004, Haryana |
Details of Registrar and Transfer Agent | Link Intime India Private Limited Noble Heights, 1st Floor, Plot No NH-2, C-1 Block, LSC, Near Savitri Market, Janakpuri, New Delhi - 110058 Tel: 011 – 49411000 Email: secretarial@studds.com |
BOARD OF DIRECTORS
Madhu Bhushan Khurana - Chairman and Managing Director (Executive Director) |
Sidhartha Bhushan Khurana - Managing Director (Executive Director) |
Pankaj Duhan - Independent Director (Non-Executive) |
Saurav Kumar - Company Secretary |
Shanker Dev Choudhry - Independent Director (Non-Executive) |
Pallavi Saluja - Independent Director (Non-Executive) |
Manish Mehta - Chief Financial Officer |
STUDDS ACCESSORIES LIMITED UNLISTED SHARE DETAILS
Total Available Shares: | 1,96,76,700 |
Face Value: | Rs. 5 Per Equity Share |
ISIN: | INE00Q601028 |
PAN No. | AACCS4217Q |
Lot Size: | 50 Shares |
Last Traded Price | Rs. 1800 |
Market Cap: | Rs. 3541.81 Crore |
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
All the business activities contributing 10% or more of the total turnover of the company:
S. No. | Name and Description of main products / services |
1 | Helmets |
2 | Motorcycle Accessories |
3 | Face Shields & Face Masks |
4 | Bicycle Helmets |
SHAREHOLDING PATTERN
As on 31-03-2020
S. No. | Shareholders’ Name | No. of Shares | % of total Shares of the company |
1 | Madhu Bhushan Khurana | 1,08,92,880 | 55.36% |
2 | Sidhartha Bhushan Khurana | 28,14,480 | 14.30% |
3 | Chand Khurana | 16,48,800 | 8.38% |
4 | Others | 43,20,540 | 21.96% |
| Total | 1,96,76,700 | 100% |
INDUSTRY OVERVIEW
Two-wheeler Industry Overview
The two-wheeler market in India witnessed significant growth over the last decade. Increased demand from urban and semi-urban areas and a relatively low cost of ownership propel the growth of this segment. The COVID-19 pandemic also impacted production and demand. As businesses resumed in phases, after the lockdown, the industry reported a sharp recovery. Amidst the pandemic, demand for two-wheelers shot through the roof as people looked for safer alternatives to public transport. Going forward, the two-wheelers industry is expected to witness sustained growth till 2024 with a forecasted sales volume growth of CAGR of 7.33%. Other factors like burgeoning demand from rural areas, the rise of an aspirational middle class, growing urbanization, and rising disposable income are expected to drive the growth of this segment.
Helmet Industry Overview
Due to growing road accidents and fatalities, and below-par road infrastructure in India, the demand for safer helmets has increased. Emphasizing the need to enforce road safety, in several places, helmets for riders as well as pillions have been mandated by the government. This is one of the major reasons for the increasing demand for helmets. India is the world’s largest two-wheeler market and has, therefore, become the largest market for two-wheeler helmets
As customers continue to seek the best quality helmets, the branded helmet segment is anticipated to witness rapid growth. The Indian Two-Wheeler Helmet industry is projected to grow at a CAGR of 14% during 2021-2026, owing to stringent road safety regulations and strict implementation of safety measures for commuters as well as helmet manufacturers. Rising awareness about road safety is also going to contribute to the growth of the two-wheeler helmet industry. Governments are keen to reduce deaths due to road accidents and are, therefore, enforcing stringent road safety laws pertaining to the use of helmets, seatbelts, child restraints, drunk driving, speeding, etc. All these factors are likely to drive the growth of this segment.
FINANCIALS OF STUDDS ACCESSORIES LIMITED(Rs. in LAKHS)
Particulars | 2020 | 2019 | 2018 | 2017 |
Revenue | 43,123.6 | 38,904 | 32,772.6 | 27,227.1 |
EBITDA | 10,362.1 | 7,340.4 | 5,756.6 | 4,225.9 |
PAT | 7,459.2 | 4,117.2 | 3,288.1 | 2,360.1 |
EBITDA Margins | 24.02% | 18.87% | 17.57% | 15.52% |
PAT Margins | 17.30% | 10.58% | 10.03% | 8.67% |
EPS (in Rs.) | 37.88 | 20.92 | 16.71 | 11.99 |
Book Value | 1,102 | 803 | 1,086 | 796 |
BALANCE SHEET OFSTUDDS ACCESSORIES LIMITED:(Rs. in LAKHS)
Particulars | 2020 | 2019 |
ASSETS | ||
NON-CURRENT ASSETS | ||
Property Plant & Equipment | 15,546.8 | 12,954.9 |
Tangible assets | 8,381.3 | 5,767.7 |
Intangible assets | 338.6 | 45 |
Other non-current assets | 0.2 | 0.2 |
TOTAL NON-CURRENT ASSETS | 24,266.9 | 18,767.8 |
CURRENT ASSETS | ||
Inventories | 1,892.2 | 1,311.9 |
(i) Trade Receivables | 1,899.4 | 2,160.5 |
(ii) Cash and Bank balances | 5,348.2 | 7,645.9 |
(iii) Other current Financial Assets | 229.1 | 89.3 |
Other current assets | 1,112.9 | 252.7 |
TOTAL CURRENT ASSETS | 10,481.8 | 11,460.3 |
TOTAL ASSETS | 34,748.7 | 30,228.1 |
EQUITY AND LIABILITIES | ||
Equity share capital | 983.8 | 983.8 |
Other Equity | 20,629.3 | 14,815.2 |
TOTAL EQUITY | 21,613.1 | 15,799 |
LIABILITIES | ||
NON-CURRENT LIABILITIES | ||
Financial Liabilities | 3,836 | 5,723.3 |
Provisions | 199.3 | 152.1 |
Deferred Tax Liability (Net) | 700.5 | 1,035.8 |
TOTAL NON-CURRENT LIABILITIES | 4,735.7 | 6,911.2 |
CURRENT LIABILITIES | ||
(i) Trade payables | 3,395.5 | 3,633.5 |
(ii) Other financial liabilities | 3492 | 2,446.4 |
Other Current Liabilities | 703.1 | 587.3 |
Provisions | 169.5 | 157.6 |
Current Tax Liabilities (Net) | 639.8 | 693.1 |
TOTAL CURRENT LIABILITIES | 8,399.8 | 7,517.9 |
TOTAL EQUITY AND LIABILITIES | 34,748.7 | 30,228.1 |
DIVIDEND AND RETAINED EARNINGS
Particulars | 2020 | 2019 | 2018 |
Dividend (In Rs.) | 4 | 3 | 0.5 |
Retained Earnings (In Rs. Lakhs) | 1,980.48 | 1,398.78 | 1,005.76 |
FINANCIAL RATIOS
Particulars | 2020 | 2019 |
Current Ratio (in times) | 1.22 | 1.52 |
Return on Net Worth (in %) | 34.51 | 26.06 |
PERFORMANCE OF THE COMPANY
Studds Accessories Limitedrevenue in the FY 2019-20 increased by Rs. 4,219.6lakhs, an increase of 10.84% over the previous year.
Studds Accessories Limited EBITDA for FY19-20 increased byRs.3,021.7lakhs, an increase of 41% over the previous fiscal year.
Studds Accessories Limitedrecorded a PAT of Rs.7,459lakhs in the FY2019-20, an increase of 81.17% over the previous year.
The EPS for FY 2019-2020 is Rs. 37.88 per share, the total net worth isRs. 21,600 lakhs and D/E is 0.12.
Return of Net Worth for the FY 2019-20was 34.53%.
The Current Ratio of the company is 1.22 for FY 2020, which indicates that the company does not have any liquidity concerns.
The Company has registered a growth of 41.5% in Retained earnings, increasing it from Rs. 1,398.78 lakhs in FY 2019 to Rs. 1,980.40 lakhs in FY 2020.
The company has delivered dividends consistently for the past three years and has increased the dividend by 33.3% in FY 2020 and gave Rs. 4per equity share as dividend.
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