Stock EASTRED6 EASTERN TREADS LIMITED
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Financials Eastern Treads Limited

Equities

EASTRED6

INE500D01015

Tires & Rubber Products

Market Closed - Bombay S.E.
Other stock markets
 03:30:56 31/05/2024 pm IST 		5-day change 1st Jan Change
40.75 INR +3.69% Intraday chart for Eastern Treads Limited +8.84% -7.24%
29/05 Eastern Treads Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2024 CI
06/05 Eastern Treads Limited Announces Completion of Tenure of Independent Directors CI

Valuation

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Capitalization 1 411 225 88.42 287.8 203 154.6
Enterprise Value (EV) 1 657.2 502.2 424.2 627.1 522 485.8
P/E ratio -17.9 x -12.7 x -6.57 x -36 x -2.21 x -2.14 x
Yield - - - - - -
Capitalization / Revenue 0.43 x 0.23 x 0.11 x 0.39 x 0.28 x 0.26 x
EV / Revenue 0.69 x 0.51 x 0.54 x 0.84 x 0.72 x 0.81 x
EV / EBITDA 23.2 x 12.2 x 10.1 x 15.5 x -10.1 x -16.8 x
EV / FCF -24.1 x -37.1 x -7.86 x -159 x 19 x 25.6 x
FCF Yield -4.15% -2.69% -12.7% -0.63% 5.26% 3.91%
Price to Book 4.15 x 2.83 x 1.35 x 4.99 x 42 x -2.25 x
Nbr of stocks (in thousands) 5,232 5,232 5,232 5,232 5,232 5,232
Reference price 2 78.55 43.00 16.90 55.00 38.80 29.54
Announcement Date 27/06/18 07/07/19 21/08/20 17/07/21 06/09/22 07/09/23
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net sales 1 945.7 978.4 784.7 745.9 722.8 598.4
EBITDA 1 28.37 41.07 42.14 40.52 -51.74 -28.89
EBIT 1 7.768 15.24 17.83 19.56 -69.81 -45.17
Operating Margin 0.82% 1.56% 2.27% 2.62% -9.66% -7.55%
Earnings before Tax (EBT) 1 -24.77 -20.02 -15.04 -13.03 -98.93 -76.76
Net income 1 -22.94 -17.67 -13.46 -7.988 -91.77 -72.29
Net margin -2.43% -1.81% -1.72% -1.07% -12.7% -12.08%
EPS 2 -4.384 -3.377 -2.572 -1.527 -17.54 -13.82
Free Cash Flow 1 -27.3 -13.52 -54 -3.936 27.45 18.98
FCF margin -2.89% -1.38% -6.88% -0.53% 3.8% 3.17%
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share - - - - - -
Announcement Date 27/06/18 07/07/19 21/08/20 17/07/21 06/09/22 07/09/23
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net Debt 1 246 277 336 339 319 331
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 8.682 x 6.75 x 7.968 x 8.373 x -6.164 x -11.47 x
Free Cash Flow 1 -27.3 -13.5 -54 -3.94 27.4 19
ROE (net income / shareholders' equity) -20.4% -20.5% -21.9% -17.2% -338% 227%
ROA (Net income/ Total Assets) 0.89% 1.71% 2.02% 2.24% -8.58% -6.67%
Assets 1 -2,584 -1,036 -666.6 -356.5 1,070 1,083
Book Value Per Share 2 18.90 15.20 12.50 11.00 0.9200 -13.10
Cash Flow per Share 2 2.340 1.820 0.4000 1.010 1.540 0.9200
Capex 1 42.2 14.3 2.51 2.1 2.77 6.07
Capex / Sales 4.46% 1.47% 0.32% 0.28% 0.38% 1.01%
Announcement Date 27/06/18 07/07/19 21/08/20 17/07/21 06/09/22 07/09/23
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Other Tires & Rubber Products

1st Jan change Capi.
EASTERN TREADS LIMITED Stock Eastern Treads Limited
-7.24% 2.55M
BRIDGESTONE CORPORATION Stock Bridgestone Corporation
+17.12% 29.79B
MICHELIN (CGDE) Stock Michelin (CGDE)
+14.45% 28.8B
SAILUN GROUP CO., LTD. Stock Sailun Group Co., Ltd.
+26.64% 6.48B
THE YOKOHAMA RUBBER CO., LTD. Stock The Yokohama Rubber Co., Ltd.
+21.87% 4.03B
VIETNAM RUBBER INDUSTRY GROUP - Stock Vietnam Rubber Industry Group -
+65.80% 3.84B
THE GOODYEAR TIRE & RUBBER COMPANY Stock The Goodyear Tire & Rubber Company
-14.04% 3.5B
DÄTWYLER HOLDING AG Stock Dätwyler Holding AG
-4.82% 3.5B
SUMITOMO RUBBER INDUSTRIES, LTD. Stock Sumitomo Rubber Industries, Ltd.
+15.60% 2.96B
TOYO TIRE CORPORATION Stock Toyo Tire Corporation
+18.75% 2.74B
Other Tires & Rubber Products
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