Widely read:
About the company
What does Uniparts India do: It manufactures parts for off-highway vehicles, i.e., vehicles used in the agriculture, construction, and forestry & mining segment. Its primary revenue sources are 3-point linkage systems (parts used in tractors) and precision machined parts (shaping materials into precise parts used in off-highway vehicles).
Strengths:
1. The company has built strong customer relationships and has retained four of its top five clients for over 10 years.
2. It is one of the market leaders in the segment it operates, with a 17 per cent market share in the global 3PL segment and 6 per cent market share in the PMP segment.
Weaknesses:
1. High revenue concentration: Its largest customer contributes around 33 per cent of revenue and top five customers contribute 56 per cent of revenue.
2. High cash conversion cycle: While the company has maintained healthy margins, it suffers from a long cash conversion cycle. Its three year average cash conversion cycle is 125 days, and its average inventory days is 138 days.
Risk score (The lower the score, the riskier the stock)
Disclaimer: This is not a stock recommendation. Do your due diligence before investing.
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