Federal-Mogul Goetze (India) Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Federal-Mogul Goetze (India) Ltd trades at ₹488, building a base and 7 weeks into that stage. That is +8.6% against its own 200-day average. It sits at 59% of a 52-week range of ₹372 to ₹568. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks.

Today the stock is building a base — week 7 of stage 1, confirmed. At ₹488 it trades +8.6% versus its 200-day average and sits at 59% of its 52-week range (₹372–₹568).

Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +55% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 10th percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Federal-Mogul Goetze (India) Ltd trades at 14.6× P/E, near the bottom of its own range — cheaper only 10% of the time. Its long-run median P/E is 27.3×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 14.6× is near the bottom of its own range — cheaper only 10% of the time, against a long-run median of 27.3× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Why the multiple sits where it does: over the past year annual EPS moved +5.3% against a −15.3% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +9.7%/yr price move, ~+46.2%/yr came from earnings growth and ~−36.5 pp from the multiple (compressing); over 10y, of the +3.6%/yr price move, ~+16.4%/yr came from earnings growth and ~−12.8 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources disagree by up to 5.5% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Federal-Mogul Goetze (India) Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE holding at 19.0% — the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

59.7/100 — rank 2 of 4 in Engines · 70% evidence confidence

Federal-Mogul Goetze (India) Ltd scores 59.7 out of 100 against the 4 companies it is compared with in Engines, ranking 2. Price leads the evidence: RS versus the benchmark is 3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

The four contributions add to the total exactly: 11.3 + 19.8 + 12.9 + 15.7 = 59.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Federal-Mogul Goetze (India) Ltd reported ₹489 Cr of revenue in the Mar 26 quarter, +6.5% year on year. That is the 10th straight quarter of year-on-year growth. Over 10 years it has compounded at 4.0% a year. The last full year, FY26, came in at ₹1,958 Cr. The last four reported quarters add to ₹1,959 Cr.

Federal-Mogul Goetze (India) Ltd reported ₹489 Cr of revenue in the Mar 26 quarter, +6.5% year on year. That is the 10th straight quarter of year-on-year growth. Over 10 years it has compounded at 4.0% a year. The last full year, FY26, came in at ₹1,958 Cr. The last four reported quarters add to ₹1,959 Cr.

FY26 revenue came in at ₹1,958 Cr (+8.8% on the year), capping 10 years at 4.0% compound. The latest quarter (Mar 26) printed ₹489 Cr, +6.5% year on year — the 10th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +8.8% growth against the decade's 4.0% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +8.8% over the last 4 quarters against +7.5%/yr over the last 8 — stabilising; TTM profit +4.7% vs +15.7%/yr — rolling over.

→ Revenue grew — did margins hold as it scaled? Next: 17.0% this quarter (−4.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Federal-Mogul Goetze (India) Ltd's operating margin is 17.0% in the Mar 26 quarter, −4.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 12.0% to 17.0%. The current quarter sits inside that band.

Federal-Mogul Goetze (India) Ltd's operating margin is 17.0% in the Mar 26 quarter, −4.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 12.0% to 17.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 17.0%, −4.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 12.0%–17.0%.

🚨 Why the margin moved: operating margin went −4.4 pp year on year while gross margin went −3.1 pp — the loss came mostly from the gross line: input costs and pricing.

→ Margins slipped — did that reach the bottom line? Next: profit −16.4% in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Federal-Mogul Goetze (India) Ltd earned ₹51.0 Cr of net profit in the Mar 26 quarter, −16.4% year on year. Full-year FY26 profit was ₹178 Cr. The 10-year compound rate is 12.5%. That is 10.4% of the quarter's revenue. The same quarter a year earlier earned ₹61.0 Cr.

Federal-Mogul Goetze (India) Ltd earned ₹51.0 Cr of net profit in the Mar 26 quarter, −16.4% year on year. Full-year FY26 profit was ₹178 Cr. The 10-year compound rate is 12.5%. That is 10.4% of the quarter's revenue. The same quarter a year earlier earned ₹61.0 Cr.

Mar 26 profit was ₹51.0 Cr, −16.4% year on year. On the full year, FY26 printed ₹178 Cr (+4.7%), and the 10-year compound rate is 12.5%.

🚨 Why profit moved: revenue contributed +6.5% and the margin −4.0 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit +7.4% vs revenue +8.8%. Profit and revenue are moving roughly in step.

→ Profit rose — but did the cash follow? Next: 146% of the last 3 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 146% of Federal-Mogul Goetze (India) Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹321 Cr of operating cash against ₹178 Cr of profit. After ₹94.0 Cr of capital spending, ₹227 Cr was left as free cash.

FY26: operating cash of ₹321 Cr against reported profit of ₹178 Cr, leaving free cash of ₹227 Cr after ₹94.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 146% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 146%: the cash cycle tightened 17 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

→ So follow the cash to where it goes. Next: a −32-day cycle and ₹213 Cr of building.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Federal-Mogul Goetze (India) Ltd's cash conversion cycle runs −32 days in FY26, down from −15 days in FY21. Capital spending ran ₹213 Cr over the last 3 years. At FY26 sales of ₹1,958 Cr each day of that cycle holds about ₹5.4 Cr, so roughly ₹−172 Cr sits inside the business at any moment.

FY26: debtors at 50 days, inventory at 112 days — roughly 3.7 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −32 days, tighter than FY21's −15.

The full loop: cash goes out to suppliers and production on day 0; stock waits 112 days to sell; customers pay about 50 days after that; and suppliers themselves are paid at 194 days — netting out to the −32-day cycle.

In money terms: at FY26 sales of ₹1,958 Cr, each day of the cycle holds about ₹5.4 Cr — so the −32-day loop keeps roughly ₹−172 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹213 Cr over the last 3 fiscal years against ₹260 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹72.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 19%.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Federal-Mogul Goetze (India) Ltd earns a ROCE of 19% in FY26. That is up from a trough of 6% in FY20. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 9.1% net margin on 0.97× asset turns.

FY26 ROCE is 19%, recovered from a FY20 trough of 6% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 9.1% net margin × 0.97× asset turns × 1.40× balance-sheet leverage ≈ 12.4% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 5.5% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.00.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Federal-Mogul Goetze (India) Ltd carries ₹1.0 Cr of borrowings against ₹1,437 Cr of equity in FY26, a debt-to-equity of 0.00. Operating profit covers the interest bill 43×. Over 5 years borrowings went from ₹10.0 Cr to ₹1.0 Cr. Capital spending ran ₹213 Cr across the last 3 of those years.

FY26: borrowings of ₹1.0 Cr against equity of ₹1,437 Cr — a debt-to-equity of 0.00. Operating profit covers the interest bill 43×. Over 5 years borrowings went from ₹10.0 Cr to ₹1.0 Cr while capital spending ran ₹213 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 5.5% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ Who owns this, and are they adding or leaving? Next: the register is quiet.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Federal-Mogul Goetze (India) Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved −0.1 points over the same window, to 0.4%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: +0.5 points over 8 quarters to 0.5%; Foreign institutions: −0.1 points over 8 quarters to 0.4%; Promoters: +0.0 points over 8 quarters to 75.0%.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Federal-Mogul Goetze (India) Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Frequently asked questions