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Swing Capital

Frontier Springs Ltd

NSE: FRONTSP BSE: 522195

Incorporated in 1981, Frontier Springs Ltd is mainly engaged in the production of L.H.B. Springs and Hot Coiled Compression Springs and Forging items for Wagon, Locomotives and Carriage[1]

₹1,503
52W: ₹765 — ₹1870
PE 31.5 · Book ₹132 · +1039% vs book
Market Cap₹1,776 Cr
Stock P/E31.5Price to Earnings
ROCE41.6%Return on Capital
ROE32%Return on Equity
Div. Yield0.04%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company is expected to give good quarter
  • +Company has delivered good profit growth of 19.5% CAGR over last 5 years
  • +Company's median sales growth is 23.1% of last 10 years

Weaknesses

  • −Stock is trading at 11.5 times its book value

Shareholding Pattern

Promoters51.76%
FIIs0%
DIIs0.51%
Public47.74%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters51.76%51.76%51.76%51.76%51.76%51.76%51.76%51.76%
FIIs0%0%0%0%0%0%0%0%
DIIs0%0%0%0%0.12%▲0.10.1%▼0.00.21%▲0.10.51%▲0.3
Public48.24%48.23%▼0.048.25%▲0.048.23%▼0.048.12%▼0.148.13%▲0.048.03%▼0.147.74%▼0.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales33334451525870758381
Expenses28283741424653556161
Operating Profit55710111217202220
OPM %14%16%17%19%20%21%24%27%27%25%
Net Profit33577912151614
EPS ₹2.422.734.285.926.187.49.8812.4913.3112.1

AI Insights

Revenue Trend

TTM revenue at ₹310Cr, up 34.2% YoY. OPM at 26%.

Debt Position

Borrowings at ₹7Cr. Debt-to-equity ratio: 0.05x. Healthy balance sheet.

Institutional Flow

DIIs: 0.51% (+0.51pp change). FIIs: 0% (+0.00pp change). Promoters hold 51.76%.

Margin & Efficiency

ROCE improving from 11% (Mar 2014) to 42% (Mar 2025). Working capital days: 64.

Valuation

PE 31.5x with 41.6% ROCE. Price is 1039% above book value of ₹132. Dividend yield: 0.04%.

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