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Eaton Fluid Power Limited, which has been rebranded as Danfoss System Limited, is a well-established company in the hydraulic equipment manufacturing sector. The company was incorporated in 1965 and specializes in producing fluid power hydraulic equipment, including pumps, valves, cylinders, and packaged systems. Recent Developments As of August 2, 2021, Eaton Fluid Power Limited's shares held by ETN Holding 2 Limited and Eaton Technologies Private Limited were sold to Danfoss Fluid Power Private Limited. The company has shown consistent growth in its financial metrics over recent years, with a net worth increase from ₹34.12 crore in 2020 to ₹74.04 crore in 2022. The total income for the year ending March 31, 2022, was reported at ₹460.24 crore, with a profit of ₹26.85 crore. Business Operations Danfoss System Limited manufactures a wide range of hydraulic products and systems that find applications in various industries including: Agriculture Construction Material handling Oil and gas The company is committed to quality and innovation in hydraulic solutions.
| P&L Statement | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Revenue | 376 | 365 | 456 | 478 |
| Cost of Material Consumed | 253 | 232 | 326 | 329 |
| Gross Margins | 32.71 | 36.44 | 28.51 | 31.17 |
| Change in Inventory | 4 | 4 | -17 | 3 |
| Employee Benefit Expenses | 33 | 33 | 38 | 39 |
| Other Expenses | 66 | 65 | 64 | 79 |
| EBITDA | 20 | 31 | 45 | 28 |
| OPM | 5.32 | 8.49 | 9.87 | 5.86 |
| Other Income | 1 | 4 | 4 | 5 |
| Finance Cost | 9 | 7 | 7 | 8 |
| D&A | 8 | 9 | 9 | 8 |
| EBIT | 12 | 22 | 36 | 20 |
| EBIT Margins | 3.19 | 6.03 | 7.89 | 4.18 |
| PBT | 2 | 19 | 32 | 17 |
| PBT Margins | 0.53 | 5.21 | 7.02 | 3.56 |
| Tax (2021) | 12 | 3 | 5 | 6 |
| PAT | -10 | 16 | 27 | 11 |
| NPM | -2.66 | 4.38 | 5.92 | 2.3 |
| EPS | -14.49 | 23.19 | 39.13 | 15.94 |
| Financial Ratios | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Operating Profit Margin | 5.32 | 8.49 | 9.87 | 5.86 |
| Net Profit Margin | -2.66 | 4.38 | 5.92 | 2.3 |
| Earning Per Share (Diluted) | -14.49 | 23.19 | 39.13 | 15.94 |
| Assets | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Fixed Assets | 46 | 41 | 45 | 59 |
| CWIP | 2 | 0 | 10 | 1 |
| Investments | 0 | 0 | 0 | 0 |
| Trade Receivables | 76 | 105 | 103 | 101 |
| Inventory | 65 | 69 | 86 | 80 |
| Other Assets | 69 | 44 | 51 | 37 |
| Total Assets | 258 | 259 | 295 | 278 |
| Liabilities | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Share Capital | 6.9 | 6.9 | 6.9 | 6.9 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 27 | 41 | 67 | 77 |
| Borrowings | 98 | 98 | 93 | 68 |
| Trade Payables | 98 | 86 | 92 | 95 |
| Other Liabilities | 28.1 | 27.1 | 36.1 | 31.1 |
| Total Liabilities | 258 | 259 | 295 | 278 |
| Cash-Flow Statement | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| PBT | 2 | 18 | 32 | 17 |
| OPBWC | 19 | 33 | 49 | 35 |
| Change in Receivables | 32 | -31 | 2 | -2 |
| Change in Inventories | 10 | -3 | -17 | 6 |
| Change in Payables | -39 | -12 | 1 | 0 |
| Other Changes | 1 | 16 | -1.1 | 17 |
| Working Capital Change | 4 | -30 | -15.1 | 21 |
| Cash Generated From Operations | 23 | 3 | 33.9 | 56 |
| Tax | -3 | 3 | -6 | -9 |
| Cash Flow From Operations | 20 | 6 | 27.9 | 47 |
| Purchase of PPE | -13 | -2 | -18 | -15 |
| Sale of PPE | 0 | 0 | 0 | 0 |
| Cash Flow From Investment | -12.4 | 0 | -18 | -15 |
| Borrowing | 0 | 0 | -5 | -29 |
| Divided | 0 | 0 | 0 | 0 |
| Equity | 0 | 0 | 0 | 0 |
| Others From Financing | -9 | -9.6 | -9 | -8 |
| Cash Flow from Financing | -9 | -9.6 | -14 | -37 |
| Net Cash Generated | -1.4 | -3.6 | -4.1 | -5 |
| Cash at the Start | 13.5 | 12 | 8.6 | 4 |
| Cash at the End | 12.1 | 8.4 | 4.5 | -1 |
| Shareholding Pattern | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Danfoss Fluid Power Private Limited, India | - | 97.61% | 97.61% | 97.61% |
| Others | - | 2.39% | 2.39% | 2.39% |
