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RECOMMENDATION

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RATING

RECOMMENDATION

Strong Buy

Business Type

Dominant Leader

  • Studds Accessories Unlisted Shares Essentials

Discover and get complete analysis on Studds Accessories upcoming IPO unlisted shares - Management, Business Model, Financials, Growth, Valuations, Funding Rounds, News and latest updates.

ISIN

INE00Q601028

Face Value

₹5.00

Total Share

1,96,76,700

Total Income

₹436.94 Crores

Profit After Tax

₹74.57 Crores

EPS

₹37.89

Book Value

₹187.00 Crores

Intrinsic Value

₹1,692.57

Sector

Consumer Discretionary

Sub-sector

Auto Parts

Category

Upcoming IPO

Cashflow - Operations

₹63.57 Crores

Cashflow - Financing

-₹25.85 Crores

Studds Accessories Growth

Compounded Sales Growth

  • 9.99%

    1 Year

  • 13.13%

    2 Year

  • 11.96%

    3 Year

Pro Only

Compounded Profit Growth

  • 81.00%

    1 Year

  • 51.47%

    2 Year

  • 46.41%

    3 Year

Pro Only

Return On Equity

  • 39.86%

    1 Year

  • 29.78%

    2 Year

  • 31.53%

    3 Year

Pro Only

About Studds Accessories

  • Studds Accessories is the first company in the helmet manufacturing industry to received market regulator SEBI’s approval to float an initial share sale.
  • Studds Accessories Ltd (the Company) had filed a draft red herring prospectus dated August 24, 2018 (DRHP) with the Securities and Exchange Board of India (SEBI) for its IPO.
  • The company received final observations from SEBI in December 2018.
  • Studds Accessories' IPO comprises fresh issuance of shares worth ₹ 98 crores besides an offer for sale of 39 lakh equity shares by promoters Madhu Bhushan Khurana and Siddhartha Bhushan Khurana, and other existing shareholders, according to the draft papers. 
  • The company believes that listing the equity shares will also enhance its visibility and brand image among existing and potential customers. 
  • Studds have an attractive valuation with a P/E ratio of around 40.

  • Studds Accessories Merger & Acquisition

Acquisition

Studds acquired 99.24% of the share capital of M.G Steel Private Limited on 8th March 2018
  • Studds Accessories Subsidiaries

SMK Helmets

Studds Accessories Business Model

SMK helmets are conceptualized and designed in Europe, before being produced by Studds, a company based in Faridabad, India that produces almost fourteen million helmets annually, destined for markets across the world.
  • Studds Accessories Product & Services

  • Helmets-
There are basically three types of helmets:
   Full face
   Open face
   Modular
  • Motorcycle accessories-
Gloves, Mobike side luggage, Mobike top luggage, Spare visor, Rainwear, Goggles, Helmet security guard.
  • Studds Accessories Industry Overview

Industry Statistics

  • India’s two-wheeler helmet market is projected to grow at a CAGR of 14% during FY2021-FY2026, owing to increasingly stringent regulations and strictness at roads in India for both commuters and manufacturers of helmets in the country.
  • India’s two-wheeler helmet market can be classified based on helmet type, by distributor channel, and by region. In terms of helmet type, the market is classified into Full face helmets, Open face helmets, Half face helmets, modular helmets, and Motocross helmets.
  • The competitive landscape of Indian helmet market is highly fragmented with unorganized players accounting for more than 2/3rd of the market. The helmets manufactured by regional vendors are of low quality and often sold by street vendors at less than ₹300.
  • India being the world’s biggest two-wheeler market is also the biggest market for scooter and motorcycle helmets. There are 2 crores two-wheelers sold annually and more than 25 crores two-wheeler plying on Indian roads. Therefore, India’s helmet market is the biggest in the world.

Government Initiatives

  • Due to growing road fatalities, and below-par road infrastructure in India, now many state governments have made helmets compulsory for riders as well as pillions. There are several other initiatives taken to prevent such fatalities such as the Tamil Nadu government enforcing an old Motor Vehicle rule which says two-wheeler companies must also supply BIS compliant helmets to their customers which will result in an increase in demands for helmets.
  • Due to increasing government strictness in regulations like the recent amendment of Section 129 of the Motor Vehicle Act, which defines that the helmet should at least have a thickness of 20-25 mm with superior quality foam, ISI mark and follow Bureau of Indian Standards, customer inclination towards leading organized helmet brands is expected to increase in India in the coming years.

Studds Accessories Awards & Achievements

  • Zee Business - Dare to Dream Award
  • Honda Motor India - Certificate of Excellence - Spare Parts - Cost
  • Honda Motor India - Accessories Award 2013-14 - Best Performance
  • Council of Leather Exports - Export Performance 2007-08 NON-SME Category - Fashion Gloves 2nd Place

Studds Accessories Strengths

  • The Group’s Total Income inclined by 10.2% for the FY2020 over the previous year.
  • The net worth of the company inclined by 36.8% for the FY2020 as compared to FY2019 with 4 years CAGR of 35.6%.
  • Total Assets inclined by 15% for FY2020 as compared to FY2019 with 4 years CAGR of 29.4%.
  • The Group’s PAT inclined by 81.1% for FY2020 over the previous FY2019.
  • Operating cash flow increased by 121.6% for FY2020 as compared to FY2019.
  • D/E ratio stands at 0.4 for the FY 2019-20.
  • ROE and ROCE for FY2020 stand at 39.9% and 39.3% respectively.

Studds Accessories Shortcomings

  • Cash inflow from financing activities and Investing activities is negative for FY2020.
  • There was negative cash and cash equivalents generated for the FY19 but It was due to an Investment of ₹70 crores in PPE.

Studds Accessories Opportunities

  • In order to put a check on the increasing number of casualties involved in road accidents, the government had issued a mandate for the two-wheeler riders to compulsorily wear helmets a few years ago. This led to an exponential growth in the demand for helmets over the years as the two-wheeler market recorded sharp growth over the last decade
Studds Accessories Rating

  • RECOMMENDATION

    Strong Buy

  • Studds Accessories Detail Info

Industry Statistics

PRIVATE LIMITED

Registered In

India

last Updated

27/02/2021

Registered Date

03/02/1983

Stock Exchange Ticker

Studds

Reg Office: 23/7, Mathura road, Ballabgarh, Faridabad, 121004, India

Website: http://www.studds.com