SAL Automotive Ltd

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SALAUTO •
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Stock Performance
52 Week Low - High
Today’s Low - High

Open

Prev. Close

Total Traded Value

View details of Market Depth
Fundamental

Market Cap (in crs)

Face Value

Turnover (in lacs)

Key Metrics
Qtr Change %
25.18% Fall from 52W High
-1.9
TTM PE Ratio
Below industry Median
24.5
Price to Book Ratio
Below industry Median
3.2
Dividend yield 1yr %
Above industry Median
0.8
TTM PEG Ratio
PEG TTM is much higher than 1
2.9
RSI
RSI is mid-range
51.6
MFI
MFI is mid-range
58.5

SAL Automotive Ltd shareholding Pattern

Promoter
75%
Public
20.6%
Promoter
75%
Public
20.6%
Promoter
75%
Public
20.6%
Promoter
75%
Mutual Funds
4.4%
Public
20.6%
Promoter
75%
Mutual Funds
4.4%
Public
20.6%
Promoter
75%
Mutual Funds
4.4%
Public
20.6%
Mutual Funds
4.4%
Mutual Funds
4.4%
Mutual Funds
4.4%

SAL Automotive Ltd Technical Analysis

Moving Averages Analysis
Moving Averages Analysis
Current Price
Bullish Moving Averages
14
Bearish Moving Averages
2
5Day EMA
520.80
10Day EMA
520.30
12Day EMA
519.80
20Day EMA
518.00
26Day EMA
517.00
50Day EMA
516.60
100Day EMA
516.80
200Day EMA
495.40
5Day SMA
525.40
10Day SMA
520.10
20Day SMA
518.20
30Day SMA
513.80
50Day SMA
511.10
100Day SMA
516.40
150Day SMA
539.80
200Day SMA
512.70
Delivery & Volume
Resistance & Support
517.80
Pivot
Resistance
First Resistance
530.60
Second Resistance
539.80
Third Resistance
552.60
Support
First Support
508.60
Second support
495.80
Third Support
486.60
Relative Strength Index
51.58
Money Flow Index
58.46
MACD
2.74
MACD Signal
2.40
Average True Range
24.44
Average Directional Index
16.40
Rate of Change (21)
2.21
Rate of Change (125)
-7.89
Peer comparison
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Market Cap
52W Low
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Simmonds Marshall Ltd.
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Akar Auto Industries Ltd.
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Porwal Auto Components Ltd.
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SAL Automotive Ltd.
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G G Automotive Gears Ltd.
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SAL Automotive Ltd Company background

Founded in: 1974
Swaraj Automotives Limited (SAL) (formerly known Swaraj Automotives Limited) was incorporated as Public Limited Company on 20th November 1974. The Company is an emerging global manufacturer of automotive components, seats and agricultural implements and also a leading and preferred supplier to the Indian automotive industry. The Company was inaugurated by the Honble President of India as Punjab Scooters Limited and started manufacturing scooter named as Vijay Kesari. The Company diversified into manufacturing of seats in 1986 and seat mechanism in 1994 in technological tieup with Fuji Kiko of Japan. The company is engaged in manufacturing business of Automobile Components, which includes Tractor seats, LCV (Light Commercial Vehicles) seats, seat mechanisms for passenger cars commercial vehicles and seat frames for commercial vehicles and agriculture Implements, which include Rotavators, Tractor trailers and Planter etc. The Company has manufacturing plant at Nabha located in the State of Punjab and second plant at Dharwad located in the State of Karnataka. The product line of the Company includes seats, seat adjusters/ sliders, seat recliners, and agri implements namely Rotavators Tractor Trolleys. During the year 2016, Mahindra Mahindra Ltd, one of the promoters of the Company (the Seller) entered into a Share Purchase Agreement on 16th October 2015 with b4S Solutions Private Ltd (the Acquirer) for sale of their entire equity stake of 71.19% held in the Company at Rs. 145.50 per share. The acquirer subsequently acquired the entire equity stake of 2.99% of other promoter, Punjab State Industrial Development Corporation (PSIDC), held in the Company, at the same rate. Thereafter, pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the acquirer had also made an open offer to the shareholders of the Company for acquiring another 25.82% equity shares of the Company. The entire process was successfully completed on 1st February 2016, taking b4S Solutions Private Limited s equity holding in the Company to 88.28% and they became promoter of the Company.During the year 2017, B4S Solutions Private Ltd (b4S or the promoter) acquired the entire equity stake of 71.19% held by Mahindra Mahindra Ltd (MM), one of the then promoters of the Company (the Seller), by entering into Share Purchase Agreement with MM on 16th October 2015. b4S subsequently also acquired the entire equity stake of 2.99% held by the then other promoter, Punjab State Industrial Development Corporation (PSIDC). Thereafter, pursuant to SEBI (SAST) Regulations, 2011, b4S made an open offer to the shareholders of the Company. The entire process completed on 1st February 2016 and b4Ss total equity holding in the Company stood at 88.28%. To comply with requirements applicable regulations to restore public shareholding in the Company to a minimum of 25%, the promoter divested 158,359 equity shares to the public via three offers for sale during the period December 2016 and January 2017, which has brought down the promoters shareholding in the Company to 81.68% as on March 31, 2017. The promoter proposes to meet its obligation to divest the remaining 6.68% of its shareholding in near future.During the year under review, the Company set up new seat frames using robots of manufacturing facilities at Dharwad, Karnataka to serve its customers in the West and South Region. The plant started its operations on 24th January 2018.During the year 2018, b4S solutions Private Ltd (b4S or the promoter) acquired the entire equity stake of 71.19% held by Mahindra Mahindra Ltd (MM), one of the then promoters of the Company (the Seller), by entering into Share Purchase Agreement with MM on 16th October 2015. b4S subsequently also acquired the entire equity stake of 2.99% held by the then other promoter, Punjab State Industrial Development Corporation (PSIDC). Thereafter, pursuant to SEBI (SAST) Regulations, 2011, b4S made an open offer to the shareholders of the Company. The entire process completed on 1st February 2016 and b4Ss total equity holding in the Company stood at 88.28%. To comply with requirements applicable regulations to restore public shareholding in the Company to a minimum of 25%, the promoter divested 3,18,445 equity shares to the public via seven offers for sale during the period December 2016 to November 2017, which has brought down the promoters shareholding in the Company to 75% as on March 31, 2018. Meanwhile on July 19, 2017, SEBI passed an interim order to prohibit Company, Directors, and Promoter from buying, selling, or otherwise dealing in securities of the Company, either directly or indirectly, due to noncompliant to Minimum public shareholding (MPS) requirement. After dilution of shareholding to 75% via OFS as mentioned above, the company achieved Minimum Public Shareholding as on 23rd November 2017. On February 14, 2018, SEBI passed a final order stating that there is no violation on part of Company/ Promoter considering enough to warrant any other enforcement action against the Company or its Directors. Further, SEBI found this matter to be disposed of without any further enforcement action.During the financial year 2021, to manufacture seat and seat frame for commercial and passenger vehicle an additional facility is under commissioning at Rudrapur in the State of Uttrakhand. Out of the initial setup cost of Rs.15.37 lakhs incurred till 31 March 2021, Rs. 7 lakhs being capex has been accounted for CWIP and rest amount of Rs. 8.37 lakhs of revenue has been charged to profit loss account.
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