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Automotive Stampings & Assemblies (BOM:520119) Piotroski F-Score : 6 (As of May. 26, 2024)


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What is Automotive Stampings & Assemblies Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Automotive Stampings & Assemblies has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Automotive Stampings & Assemblies's Piotroski F-Score or its related term are showing as below:

BOM:520119' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of Automotive Stampings & Assemblies was 8. The lowest was 3. And the median was 6.


Automotive Stampings & Assemblies Piotroski F-Score Historical Data

The historical data trend for Automotive Stampings & Assemblies's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Automotive Stampings & Assemblies Piotroski F-Score Chart

Automotive Stampings & Assemblies Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 6.00 6.00 8.00 6.00

Automotive Stampings & Assemblies Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Dec23 Mar24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - 8.00 - - 6.00

Competitive Comparison of Automotive Stampings & Assemblies's Piotroski F-Score

For the Auto Parts subindustry, Automotive Stampings & Assemblies's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Automotive Stampings & Assemblies's Piotroski F-Score Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Automotive Stampings & Assemblies's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Automotive Stampings & Assemblies's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was ₹202 Mil.
Cash Flow from Operations was ₹311 Mil.
Revenue was ₹8,803 Mil.
Gross Profit was ₹1,978 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was (2256.876 + 2849.798) / 2 = ₹2553.337 Mil.
Total Assets at the begining of this year (Mar23) was ₹2,257 Mil.
Long-Term Debt & Capital Lease Obligation was ₹568 Mil.
Total Current Assets was ₹1,605 Mil.
Total Current Liabilities was ₹2,308 Mil.
Net Income was ₹83 Mil.

Revenue was ₹8,282 Mil.
Gross Profit was ₹1,620 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was (1808.952 + 2256.876) / 2 = ₹2032.914 Mil.
Total Assets at the begining of last year (Mar22) was ₹1,809 Mil.
Long-Term Debt & Capital Lease Obligation was ₹339 Mil.
Total Current Assets was ₹1,264 Mil.
Total Current Liabilities was ₹2,150 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Automotive Stampings & Assemblies's current Net Income (TTM) was 202. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Automotive Stampings & Assemblies's current Cash Flow from Operations (TTM) was 311. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar23)
=201.701/2256.876
=0.08937177

ROA (Last Year)=Net Income/Total Assets (Mar22)
=83.253/1808.952
=0.04602278

Automotive Stampings & Assemblies's return on assets of this year was 0.08937177. Automotive Stampings & Assemblies's return on assets of last year was 0.04602278. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Automotive Stampings & Assemblies's current Net Income (TTM) was 202. Automotive Stampings & Assemblies's current Cash Flow from Operations (TTM) was 311. ==> 311 > 202 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=567.614/2553.337
=0.22230281

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=339.425/2032.914
=0.16696476

Automotive Stampings & Assemblies's gearing of this year was 0.22230281. Automotive Stampings & Assemblies's gearing of last year was 0.16696476. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar24)=Total Current Assets/Total Current Liabilities
=1604.62/2307.986
=0.69524685

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=1263.991/2149.787
=0.58796104

Automotive Stampings & Assemblies's current ratio of this year was 0.69524685. Automotive Stampings & Assemblies's current ratio of last year was 0.58796104. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Automotive Stampings & Assemblies's number of shares in issue this year was 15.869. Automotive Stampings & Assemblies's number of shares in issue last year was 15.858. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1977.798/8803.269
=0.22466631

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1619.864/8282.314
=0.19558109

Automotive Stampings & Assemblies's gross margin of this year was 0.22466631. Automotive Stampings & Assemblies's gross margin of last year was 0.19558109. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar23)
=8803.269/2256.876
=3.90064363

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=8282.314/1808.952
=4.57851507

Automotive Stampings & Assemblies's asset turnover of this year was 3.90064363. Automotive Stampings & Assemblies's asset turnover of last year was 4.57851507. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+0+1+0+1+0
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Automotive Stampings & Assemblies has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Automotive Stampings & Assemblies  (BOM:520119) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Automotive Stampings & Assemblies Piotroski F-Score Related Terms

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Automotive Stampings & Assemblies (BOM:520119) Business Description

Traded in Other Exchanges
Address
TACO House, Off Law College Road, Plot No- 20/B FPN085, V.G. Damle Path, Erandwane, Pune, MH, IND, 411004
Automotive Stampings & Assemblies Ltd a TACO group company manufactures and supplies sheet metal components, welded assemblies, and modules for automobiles. The company operates only in the Automobile Component Segment in the Domestic Market. geographical the majority of its revenue comes from Components.

Automotive Stampings & Assemblies (BOM:520119) Headlines

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