Undervalued  Auto Ancillary  Stocks

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Steel Strips Wheels

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Key Financial Ratios Price/Earnings: 12.6 Price/Sales: 0.7 ROCE: 23.4%  

Manufactures Steel Wheel Rims and Alloy Wheels  Tata Steel holds ~7% equity stake in it

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JBM Auto

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Key Financial Ratios Price/Earnings: 31.8 Debt/Equity: 1.6 Quarterly Sales Growth: 44%

Auto components (75% of revenues) Traditional and electric buses (12%)  Tool room (13%) 

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Automotive Axles

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Key Financial Ratios Debt Free Quarterly Sales Growth: 30%

Backing of Kalyani Group and Meritor - a global leader in axles  Makes axles and brakes for automotive industry

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Wheels India

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Key Financial Ratios Price/Sales: 0.4 Quarterly Sales Growth: 29% Price/Earnings: 20

Parentage of TVS Group Diversified across products including tractors, cars, CVs, earthmovers

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Craftsman Automation

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Key Financial Ratios Debt/Equity: 0.7  ROCE: 18%  Quarterly Sales Growth: 22%

IFC and Mirae Asset long term investors  Biggest player in machining of cylinder blocks and heads for commercial vehicles

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