Studds Accessories Limited Unlisted Shares

STUDDS ACCESSORIES LIMITED

STUDDS ACCESSORIES LIMITED is one of the world’s largest manufacturer of two wheeler helmets. The company contain two brands STUDDS & SMK HELMETS. Our plants originated and sold 4.95 million helmets under the STUDDS brand in Fiscal 2018. We provide wide range of various accessories such as helmets and motorcycle which keep on evolving every year in terms of new design and graphics. Basically, We focus on style, design, quality as well as safety, makes us a lifestyle choice for our customers, and positions STUDDS and SMK as aspirational brands. Our brand STUDDS is marketed and sold in almost 21 countries across the globe, instead SMK is present in 23 countries, including Europe, Asia and Latin America (Fiscal 2018).

STUDDS ACCESSORIES LTD

Studds Accessories Ltd. was incorporated in the year 03-02-1983. Recently there share price is 0. currently market capitalisation stands at Rs 0 Cr.Latest news, company has reported Gross Sales of Rs. 3364.44 Cr and Total Income of Rs.3330.71 Cr. The company’s management includes Pankaj Duhan, Kanika Bhutani, Pallavi Saluja, Shanker Dev Choudhry, Sidhartha Bhushan Khurana, Madhu Bhushan Khurana, Madhu Bhushan Khurana. This is listed on the BSE with a BSE Code of , NSE with an NSE Symbol of and ISIN of . It’s Registered office is at 23/ 7, Mathura Road,Ballabgarh, Faridabad-121004, Haryana. Their Registrars are ACC Ltd. It’s auditors are AC Mehta & Co, Rajan Chhabra & Co.

Financials of Studds Accessories Limited Unlisted Shares:

Assets and Liabilities (all figures in Million)
Year	Asset	Liabilities	Net Worth	Book Value	Debt	Debt/Equity	RONW
FY16	1,234	598	635	581	24.3	0.04	39%
FY17	1,416	546	870	796	24.75	0.03	27%
FY18	2,228	1,041	1,186	1086	3.51	0	28%
FY19	3,022	1,442	1,579	80	390	0.247	26%
FY20	3478	1318	2160	110	277	0.12	34%
FY21	4340	1445	2900	147	276	0.095	25%

Profit n Loss Key Parameters (all figures in Million)
Year	Revenue	PAT	EBITDA Margins	Profit Margins	Outstanding Shares	EPS
FY16	2,930	245	13.40%	8.0%	1.093	12.48
FY17	3,111	236	11.90%	8.0%	1.093	12
FY18	3,417	328	16.80%	10.0%	1.093	16
FY19	3,972	404	18.53%	10.2%	19.676	20
FY20	4369	745	23.72%	17%	19.676	37
FY21	4842	740	23%	15.2%	19.676	37

Key Salient Points of FY18-19

1. The Company has shown 16% Revenue Growth in FY18-19 as compared to last year.
2. The Company has shown 23% PAT Growth in FY18-19 as compared to last year.
3. The Company has almost debt Free. D/E is 0.247
4. The Company has Excellent Return Ratios ROE and ROCE in the last 3 years.

Key Salient Points of FY19-20

1. Studds has clocked the revenue of 431 Crores in FY19-20 up by 10.8% as compared to last year.
2. Studds has clocked an EBITDA of 103 Crores in FY19-20 up by 41% as compared to last year.
3. Studds has clocked the PAT of 74 Crores in FY19-20 up by 84% as compared to last year.
4. EPS for the year 2019-20 stands at 37.
5. The total debt on books is 27 Crores and Net-worth of 216 Crores. So, D/E is 0.12.
6. RONW of FY19-20 is 34%.

Financial Analysis of FY20-21

1. In FY20-21, the revenue of Studds Accessories has increased by 15% despite problems in the economy due to COVID-19. In FY20-21, they clocked a revenue of Rs.484 Crores as compared to 420 Crores last year. 2. EBITDA for FY21 stands at 115 Crores as compared to 103 Crores in FY20. This translate into margins of 23.7% in FY21 as compared to 24.5% last year. 3. PAT remains flat at 73 Crores similar to last year. PAT remains same, due to high depreciation as they have added new manufacturing plants and increase of finance cost.

Year	ROE	ROCE
2016	39%	52%
2017	27%	37%
2018	28%	32%
2019	26%	29%
2020	34%	40%

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