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RATING

RECOMMENDATION

Not Buy

Business Type

Traditional Business

  • unlisted stock logo
    Eaton Fluid Power Unlisted Shares Essentials

ISIN

INE762B01015

Face Value

₹10.00

Total Share

69,00,000

Total Income

₹3,774.41 M

Profit After Tax

-₹102.68 M

EPS

₹14.74

P/E

27.14

P/B

400.00

Market Capitalisation

₹276.00 Cr

Sector

Industrials

Sub-sector

Industrial Machinery

Category

Upcoming IPO

Cashflow - Operations

₹200.62 M

Cashflow - Financing

-₹89.78 M

Eaton Fluid Power Growth

Compounded Sales Growth

  • -17.77%

    1 Year

  • 3.41%

    2 Year

Pro Only

Compounded Profit Growth

  • NA

    1 Year

  • NA

    2 Year

Pro Only

Return On Equity

  • -26.02%

    1 Year

  • 29.54%

    2 Year

Pro Only

About Eaton Fluid Power

  • Eaton Fluid Power Limited is a public company domiciled in India and is incorporated under the provisions of the Companies Act, 1956. The Company is engaged in manufacturing and trading of Fluid Power Hydraulic Equipment such as Pumps, Gear Pumps, Valves, Cylinders, Packaged systems and related components. 
  • Eaton has first acquired an engineering center at the Pune campus designed to do high-end engineering work for all of Eaton’s business segments.
  • Since then, Eaton has focused on enhancing its presence in India as a power management company in all business segments and on tapping into the diverse opportunities that India ores, including critical manufacturing and engineering capabilities, product development, service centers, and globally competitive sourcing. 
  • Company reported revenue from operations of ₹ 377 Cr., a decline of 18% over previous year. Decrease is primarily due to de-growth in end markets. Margins were adversely impacted due to foreign exchange fluctuation and product mix. 
  • Presently ETN Holding 2 Limited, Mauritius and Eaton Technologies Private Limited, India holds 52.61 percent and 45.00 percent of share capital respectively with the remaining shares held by the public. 

 


  • Eaton Fluid Power Product & Services

  • Electrical Segment- Eaton’s Electrical business in India is geared up to provide power distribution, power quality, and back-up, control and automation, power monitoring and management solutions and services to commercial, residential, utility, alternative energy, IT and data centers, public sector institutions and OEMs. 
  • Vehicle Segment-In 2008, Eaton’s Vehicle Group has acquired manufacturing facility – a Greenfield project – at Ranjangaon near Pune to manufacture and supply medium- and heavy-duty truck transmission and components for the export market. 
  • Filtration- In March 2013, Eaton’s Filtration business inaugurated its first manufacturing, assembly, and distribution facility in India. The newly built facility is located at Hinjewadi in Pune. 
  • Aerospace- Eaton designs develop, manufactures and integrates the industry’s most advanced offerings in the areas of cockpit interface, electrical power management, engine solutions, fuel and inerting, hydraulic systems, and motion control. 
  • Hydraulics- Eaton forayed into India with the global acquisition of Aeroquip Vickers in April 1999. 
  • Eaton Fluid Power Industry Overview

Industry Statistics

  • Hydraulic Industry in India is dependent on the growth of Mobile Hydraulic equipment, comprising mainly of off highway equipment such as Backhoe Loaders, Excavators, Mobile cranes, compaction equipment, wheel loaders, Forklifts, and Agricultural equipment. The industry has witnessed severe demand pressure owing to the shrinkage in demand for mobile equipment used in infrastructure, farm equipment, and industrial equipment. 
  • Although post-2011, the demand for mobile equipment has been falling consistently, a trend reversal of sought began from 201516, this owing to strong domestic demand led by increased Government focus on investments in infrastructure projects, thereby leading to higher demand of capital equipment.

Future Prospects

  • Since, the demand for hydraulic cylinders is primarily driven by the growing demand for hydraulic cylinder based equipment which is used in industries such as manufacturing, construction, mining, agriculture, aerospace, and defense. One can anticipate that the recovery in economic activity will bring cheer to the sector and many of the OEMs will have to expand its current manufacturing facility to cater to the growing demand.

Government Initiatives

  • Government focus on farm sector will also catapult demand for tractors and this will have a positive influence on the demand for the hydraulic product on the farm equipment segment. High adoption of material handling equipment offers growth opportunity for the market.

Eaton Fluid Power Strengths

  • Cash flow from operating activities increased by 17% for FY2020 as compared to FY2019. 
  • PP&E increase by 35.1% as they invested in property to expand their business.

Eaton Fluid Power Shortcomings

  • The Group’s Total Income declined by 18% for the FY2020 over the previous year. 
  • Net worth of the company declined by 23% for the FY2020 as compared to FY2019. 
  • The Group’s PAT declined by 187% for FY2020 over the previous FY2019. 
  • Total Assets declined by 17% for FY2020 as compared to FY2019. ROE and ROCE stands at -30.10% and 33.50% respectively for FY2020.
  • Cash and Cash equivalent declined by 10% for the FY2020 as compared to the last year.

Eaton Fluid Power Opportunities

  • Global Market Insights Inc. has recently added a new report on the hydraulic motors market which estimates the market valuation for hydraulic motors will cross US$ 14 billion by 2027. The development in worldwide construction activities will surge the consumption of hydraulic-based building equipment, such as hydraulic cranes, loaders, and excavators, enhancing the hydraulic motors demand.
  • Hydraulic motors are utilized in various sectors for an assortment of uses such as bulk material handling, processing materials, and load lifting. They are one of the prevalent choices for durable applications owing to their powerful density. The developing construction sector, particularly in emerging nations, is the main aspect driving the hydraulic motors market. The other main reasons influencing the growth of the hydraulics market include the construction of smart cities, roads, bridges, metros, and expressways, and the development of multi-family houses largely owing to the increasing populace & urbanization.

Eaton Fluid Power Threats

  • The COVID-19 pandemic has shaken manufacturing industries profoundly. As has been the case after other major upheavals, such as the 2008-2009 financial crisis, a return to pre-crisis levels will likely take several years, if not more. Back in 2008, it took manufacturing industries three years to return to the pre crisis level. This time the course of the crisis will be at least as severe as it was during the financial crisis, if not even worse.

Eaton Fluid Power Rating

  • RECOMMENDATION

    Not Buy

  • Eaton Fluid Power Detail Info

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