FRONTSP - Frontier Springs Ltd. Share Price

Auto Components

₹4799.80+146.05(+3.14%)

Market Closed as of Aug 6, 2025, 15:30 IST

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Valuation
Market Cap	1.81 kCr
Price/Earnings (Trailing)	55.96
Price/Sales (Trailing)	8.06
EV/EBITDA	37.97
Price/Free Cashflow	246.57
MarketCap/EBT	41.71
Enterprise Value	1.81 kCr

Fundamentals
Revenue (TTM)	224.56 Cr
Rev. Growth (Yr)	57.4%
Earnings (TTM)	32.43 Cr
Earnings Growth (Yr)	130.9%

Profitability
Operating Margin	19%
EBT Margin	19%
Return on Equity	26.16%
Return on Assets	19.15%
Free Cashflow Yield	0.41%

Price to Sales Ratio

Latest reported: 8

Revenue (Last 12 mths)

Latest reported: 225 Cr

Net Income (Last 12 mths)

Latest reported: 32 Cr

Growth & Returns
Price Change 1W	-11.5%
Price Change 1M	3.2%
Price Change 6M	115.1%
Price Change 1Y	214.9%
3Y Cumulative Return	149.7%
5Y Cumulative Return	76.5%
7Y Cumulative Return	66.7%
10Y Cumulative Return	67.4%

Cash Flow & Liquidity
Cash Flow from Investing (TTM)	-20.46 Cr
Cash Flow from Operations (TTM)	22.11 Cr
Cash Flow from Financing (TTM)	1.28 Cr
Cash & Equivalents	5.2 Cr
Free Cash Flow (TTM)	7.34 Cr
Free Cash Flow/Share (TTM)	18.64

Balance Sheet
Total Assets	169.35 Cr
Total Liabilities	45.39 Cr
Shareholder Equity	123.96 Cr
Current Assets	86.11 Cr
Current Liabilities	40.14 Cr
Net PPE	56.31 Cr
Inventory	39.68 Cr
Goodwill	0.00

Capital Structure & Leverage
Debt Ratio	0.04
Debt/Equity	0.05
Interest Coverage	180.83
Interest/Cashflow Ops	93.62

Dividend & Shareholder Returns
Dividend/Share (TTM)	2.5
Dividend Yield	0.03%
Shares Dilution (1Y)	0.00%
Shares Dilution (3Y)	0.00%

Pros

Technicals: Bullish SharesGuru indicator.

Past Returns: Outperforming stock! In past three years, the stock has provided 149.7% return compared to 14.6% by NIFTY 50.

Balance Sheet: Strong Balance Sheet.

Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Profitability: Recent profitability of 14% is a good sign.

Growth: Awesome revenue growth! Revenue grew 65.1% over last year and 165.3% in last three years on TTM basis.

Cons

No major cons observed.

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Investor Care
Dividend Yield	0.03%
Dividend/Share (TTM)	2.5
Shares Dilution (1Y)	0.00%
Earnings/Share (TTM)	82.14

Financial Health
Current Ratio	2.15
Debt/Equity	0.05

Technical Indicators
RSI (14d)	38.62
RSI (5d)	3.42
RSI (21d)	48.69
MACD Signal	Sell
Stochastic Oscillator Signal	Hold
Grufity Signal	Buy
RSI Signal	Hold
RSI5 Signal	Buy
RSI21 Signal	Hold
SMA 5 Signal	Sell
SMA 10 Signal	Sell
SMA 20 Signal	Sell
SMA 50 Signal	Buy
SMA 100 Signal	Buy

Summary of Latest Earnings Report from Frontier Springs

Summary of Frontier Springs's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated:

Management's outlook for Frontier Springs Ltd. is notably optimistic, emphasizing strong growth prospects driven by the Indian Railways sector. For FY'26, the company aims for gross revenue of Rs.375 crore, a substantial increase from FY'25's Rs.231.34 crore, representing a 62% growth. They have set an even more ambitious target of Rs.500 crore for FY'27.

Key forward-looking points include:

Investment Plans: The management plans to invest an additional Rs.15 crore in plant and machinery over the coming year. This investment is aimed at expanding capacities to meet rising demand, particularly driven by ongoing modernization initiatives within the Indian Railways.
Revenue Growth Projections: The company reported a record revenue from operations of Rs.231.34 crore in FY'25, which was a 70.84% increase from the previous fiscal year.
EBITDA and Profit Growth: EBITDA for FY'25 reached Rs.49.66 crore, an increase of 139.10% year-on-year, with a margin of 21.47%. They aim to sustain and potentially improve EBITDA margins to 22%-23% going forward.
Order Book and Demand Visibility: As of April 1, 2025, they had an order book of Rs.150 crore, with ongoing tenders providing strong visibility for future orders. They continue to target high-value, high-margin products, particularly within the forging and air spring segments.
Market Dynamics: The Indian government's allocation of Rs.2.65 lakh crore for Indian Railways supports their growth outlook, alongside modernization plans and increased production targets for rail coaches and locomotives.

This strategic direction, marked by significant financial performance and planned investments, positions Frontier Springs Ltd. well to capitalize on anticipated growth in the railways sector and associated demand for their products.

Q&A Session

Last updated:

Major Questions and Answers from Q&A Section:

1. Question: "Sir, recently there has been a report by CRISIL that the management is not cooperative with the things, so like they are not able to give the credit rating report. So can you just put some light on it?"

Answer: Good afternoon, Mr. Jain. To clarify, our exposure is under Rs.50 crore so we aren't required to take ratings. The heading of CRISIL's report also indicates we've withdrawn the rating.

2. Question: "Are you going to be sustainable like 21%-22% EBITDA margins for the next year?"

Answer: Yes, I am 100% confident that we can maintain the margins at 21% and will work towards improving them as well.

3. Question: "What is the current capacity utilization?"

Answer: In some areas, we are at 100% capacity utilization. Overall, we are using around 60%, but we're expanding capacity where needed by investing another Rs.15 crore.

4. Question: "Can you explain the ongoing issues of wheel set supply impacting wagon production and how we are managing demand?"

Answer: The railways have enhanced wheel production with a new plant. We haven't experienced shortages and have a consistent supply for our production needs.

5. Question: "Can you guide us on sustaining margins amidst increasing steel prices?"

Answer: We are confident in maintaining and possibly improving margins by 1-2% due to our solid order book, which includes Rs.150 crore in hand and pipeline orders.

6. Question: "What is the installed capacity of air springs, and how fast do we expect it to grow?"

Answer: Currently, we can cater to 200 coaches, with plans to increase capacity to 300-350 coaches due to rising demand from railways seeking to produce 6,000 new coaches this year.

7. Question: "What is our current market share in air springs, and do you foresee growth?"

Answer: We currently hold a 25% market share in air springs, aiming to grow to 30%. Demand in railways supports this growth prospect.

8. Question: "What is the revenue split between Coil Spring and Air Spring for FY'25?"

Answer: For FY'25, we expect around Rs.150-170 crore from coil springs, Rs.125 crore from air springs, with the balance from forging.

9. Question: "What is the status of defense initiatives and their approvals?"

Answer: We are moving forward with the production needed for defense approvals, having installed the hammer, and will apply for approvals shortly, expected to take 3-4 months.

10. Question: "What is the expectation for FY'27's revenue?"

Answer: We might be conservative in our guidance, estimating Rs.500 crore for FY'27, but we are optimistic based on current demand and production plans.

These questions and answers encapsulate the highlights and clarify the company's position, strategy, and operational effectiveness moving forward.

Share Holdings

Understand Frontier Springs ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

Shareholder Name	Holding %
KAMLA BHATIA	15.9%
KAPIL BHATIA	15.57%
NEERAJ BHATIA	14.15%
KUNDAN LAL BHATIA	3.39%
JATIN KESHAVJI CHANDE	1.6%
VISHPA RAIL EQUIPMENTS PRIVATE LIMITED	1.3%
SINGHI DINESH KUMAR HUF	1.08%
MAMTA BHATIA	0.97%
PURAN CHAND BHATIA HUF	0.93%
MANJU BHATIA	0.52%
MANU BHATIA	0.17%
CHANDAN BHATIA	0.17%
PREETI BHATIA	0%
PRIYA BHATIA	0%
KUNDAN LAL BHATIA HUF	0%
SHYAMA BHATIA	0%
BINDU BHATIA	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Is Frontier Springs Better than it's peers?

Detailed comparison of Frontier Springs against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
		-	-	-	-	-	-	-	-

Sector Comparison: FRONTSP vs Auto Components

Comprehensive comparison against sector averages

Comparative Metrics

FRONTSP metrics compared to Auto

Category	FRONTSP	Auto
PE	55.96	40.13
PS	8.06	2.26
Growth	65.1 %	6.7 %

Performance Comparison

FRONTSP vs Auto (2021 - 2025)

Key Insights

1. FRONTSP is NOT among the Top 10 largest companies in Auto Components & Equipments.
2. The company holds a market share of 0.1% in Auto Components & Equipments.
3. In last one year, the company has had an above average growth that other Auto Components & Equipments companies.

Income Statement for Frontier Springs

Standalone figures (in Rs. Crores)

AnnualQuarterly

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	71.6%	231	135	107	84	77	100
Other Income	94.9%	0.98	0.61	0.64	0.98	0.97	0.9
Total Income	71.1%	232	136	108	85	78	101
Cost of Materials	76.9%	116	66	56	38	28	42
Employee Expense	35.6%	5.8	4.54	3.85	3.49	3.36	2.95
Finance costs	3.8%	0.23	0.2	0.33	0.28	0.49	0.65
Depreciation and Amortization	11.1%	4.01	3.71	3.2	2.85	2.67	2.39
Other expenses	42.9%	61	43	39	33	31	37
Total Expenses	56.8%	186	119	98	75	67	83
Profit Before exceptional items and Tax	181.2%	46	17	9.77	10	11	18
Total profit before tax	181.2%	46	17	9.77	10	11	18
Current tax	200.3%	11	4.33	2.34	2.51	2.5	3.1
Deferred tax	19%	0.32	0.16	0.2	0.05	0.24	0.42
Total tax	216.1%	12	4.48	2.53	2.56	2.74	3.52
Total profit (loss) for period	183.3%	35	13	7.24	7.51	7.8	14
Other comp. income net of taxes	-124.4%	0.7	2.23	0.4	0.76	0.43	-0.01
Total Comprehensive Income	142.9%	35	15	7.64	8.28	8.22	14
Earnings Per Share, Basic	136%	89.79	38.63	19.41	21.02	20.88	35.62
Earnings Per Share, Diluted	136%	89.79	38.63	19.41	21.02	20.88	35.62

Description	(%) Q/Q	Mar-2025	Dec-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	21.1%	70	58	51	44	33	33
Other Income	7.4%	0.13	0.06	0.66	0.46	0.05	0.05
Total Income	21.1%	70	58	51	45	33	33
Cost of Materials	13.8%	34	30	26	20	16	17
Employee Expense	25.6%	1.54	1.43	1.35	1.34	1.18	1.02
Finance costs	1.1%	0.07	0.06	0.05	0.06	0.04	0.04
Depreciation and Amortization	100%	1.02	1.01	0.95	1.08	0.86	0.9
Other expenses	21.4%	18	15	13	13	11	11
Total Expenses	15.2%	54	47	42	38	29	29
Profit Before exceptional items and Tax	50%	16	11	9.42	6.74	4.31	3.83
Total profit before tax	50%	16	11	9.42	6.74	4.31	3.83
Current tax	90.3%	4.14	2.65	2.26	1.77	1.01	0.93
Deferred tax	-10.9%	-0.02	0.08	0.17	-0.08	0.07	0.05
Total tax	80.3%	4.12	2.73	2.43	1.69	1.08	0.97
Total profit (loss) for period	42.3%	12	8.73	6.98	5.05	3.22	2.85
Other comp. income net of taxes	27.6%	-0.18	-0.63	0.45	0.28	0.85	0.44
Total Comprehensive Income	40.8%	11	8.1	7.44	5.33	4.07	3.29
Earnings Per Share, Basic	43.8%	29.15	20.57	18.88	13.54	10.33	8.36
Earnings Per Share, Diluted	43.8%	29.15	20.57	18.88	13.54	10.33	8.36

Balance Sheet for Frontier Springs

Standalone figures (in Rs. Crores)

Description	(%) Q/Q	Mar-2025	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	228.1%	5.2	2.28	4.13	2	4.42	1.88
Loans, current	61.1%	2.53	1.95	2.83	1.86	2.16	0.64
Total current financial assets	80%	46	26	18	20	16	19
Inventories	30%	40	31	32	30	24	21
Total current assets	49.1%	86	58	51	51	42	40
Property, plant and equipment	25%	56	45	43	42	36	36
Capital work-in-progress	-96.6%	1.02	1.59	1.49	0.8	3.03	1
Non-current investments	41.2%	25	18	17	15	16	13
Loans, non-current	0%	0.32	0.32	0.32	0.32	0.32	0.32
Total non-current financial assets	41.2%	25	18	17	16	16	14
Total non-current assets	26.2%	83	66	62	59	56	52
Total assets	37.7%	169	123	113	110	98	92
Borrowings, non-current	417.6%	1.88	1.17	1.63	1.25	1.87	1.23
Total non-current financial liabilities	417.6%	1.88	1.17	1.63	1.25	1.87	1.23
Provisions, non-current	-36.5%	0.29	0.48	0.48	0.33	0.53	0.27
Total non-current liabilities	25.7%	5.25	4.38	4.86	4.21	4.93	3.89
Borrowings, current	97.4%	4.06	2.55	0.48	3.37	0.11	2.14
Total current financial liabilities	43.5%	34	24	24	28	19	16
Provisions, current	2.1%	3.42	3.37	2.64	2.53	2.41	2.73
Total current liabilities	34.5%	40	30	28	31	22	21
Total liabilities	33.3%	45	34	33	35	27	25
Equity share capital	0%	3.96	3.96	3.96	3.96	3.96	3.96
Total equity	39.8%	124	89	80	75	71	67
Total equity and liabilities	37.7%	169	123	113	110	98	92

Cash Flow for Frontier Springs

Standalone figures (in Rs. Crores)

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Finance costs	3.8%	0.23	0.2	0.33	0.28	-	-
Change in inventories	-499.4%	-8.77	-0.63	-9.67	-3.37	-	-
Depreciation	11.1%	4.01	3.71	3.2	2.85	-	-
Dividend income	4.3%	0.12	0.08	0.06	0.05	-	-
Adjustments for interest income	5.8%	0.19	0.14	0.11	0.14	-	-
Net Cashflows from Operations	153.8%	34	14	12	13	-	-
Income taxes paid (refund)	200.3%	11	4.33	2.34	2.53	-	-
Other inflows (outflows) of cash	-219.3%	0.01	1.83	-0.06	-0.02	-	-
Net Cashflows From Operating Activities	90.9%	22	12	9.62	10	-	-
Proceeds from sales of PPE	5.6%	0.16	0.11	0.03	0.12	-	-
Purchase of property, plant and equipment	105.3%	15	7.82	8.53	6.16	-	-
Purchase of investment property	287.3%	6.81	2.5	2.16	5.16	-	-
Dividends received	4.3%	0.12	0.08	0.06	0.05	-	-
Interest received	5.8%	0.19	0.14	0.11	0.14	-	-
Other inflows (outflows) of cash	41.7%	0.65	0.4	0.46	0.78	-	-
Net Cashflows From Investing Activities	-102.5%	-20.46	-9.6	-10.02	-10.22	-	-
Proceeds from borrowings	-	2.21	0	1.25	0	-	-
Repayments of borrowings	-900%	0	0.9	0	0.33	-	-
Dividends paid	29.3%	0.71	0.59	0.39	0.39	-	-
Interest paid	3.8%	0.23	0.2	0.33	0.28	-	-
Net Cashflows from Financing Activities	110.4%	1.28	-1.69	0.52	-1.01	-	-
Net change in cash and cash eq.	366.7%	2.92	0.28	0.12	-1.08	-	-

FRONTSP - Frontier Springs Ltd. Share Price

Valuation

Fundamentals

Profitability

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)

Growth & Returns

Cash Flow & Liquidity

Balance Sheet

Capital Structure & Leverage

Dividend & Shareholder Returns

Investor Care

Financial Health

Technical Indicators

Major Questions and Answers from Q&A Section:

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution