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Last Updated on: 21 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

TCPL Packaging Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 21, 2024, 9:22 pm

Market Cap 2,789 Cr.
Current Price 3,073
High / Low3,671/1,902
Stock P/E23.7
Book Value 635
Dividend Yield0.72 %
ROCE20.1 %
ROE21.4 %
Face Value 10.0
PEG Ratio0.99

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for TCPL Packaging Ltd

Competitors of TCPL Packaging Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
H T Media Ltd 526 Cr. 22.636.9/22.4 72.20.00 %0.32 %1.91 % 2.00
Gala Global Products Ltd 18.4 Cr. 3.384.43/2.8021.0 8.050.00 %1.23 %0.33 % 5.00
DB Corp Ltd 5,195 Cr. 292405/23611.6 1204.45 %25.1 %20.2 % 10.0
Vasa Retail and Overseas Ltd (VASA) 3.75 Cr. 6.258.55/4.10 29.70.00 %5.30 %% 10.0
Sandesh Ltd 1,211 Cr. 1,5892,058/9695.55 1,7790.31 %20.9 %16.3 % 10.0
Industry Average1,697.93 Cr420.5747.54216.861.06%10.97%9.60%6.44

All Competitor Stocks of TCPL Packaging Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales226253274323335349366381361389354384391
Expenses196217232274282293306315300325296318321
Operating Profit30364248545660666064596669
OPM %13%14%15%15%16%16%16%17%17%16%17%17%18%
Other Income00203203114253
Interest8889101011121312141413
Depreciation13141414151515161617171818
Profit before tax9152125325137393338303942
Tax %37%29%32%27%29%20%28%29%27%20%30%25%23%
Net Profit6111419234127282430212932
EPS in Rs6.6011.7415.4420.3424.8144.5629.5130.2926.4433.3522.8532.0135.11

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales3733954985936136988168909041,0761,4321,486
Expenses3183334164925166137117647709201,1961,237
Operating Profit5561821019785105126134156236249
OPM %15%16%17%17%16%12%13%14%15%15%16%17%
Other Income2-0-0-01212322712
Interest161817202225283737334452
Depreciation202422252935364852556168
Profit before tax20204355462742424870158141
Tax %34%37%25%31%30%25%31%14%29%30%26%24%
Net Profit14123238322029373449118107
EPS in Rs15.5314.3737.0044.0037.3222.2231.8140.1337.0854.13129.16117.08
Dividend Payout %17%17%16%17%17%17%16%10%20%18%15%19%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-14.29%166.67%18.75%-15.79%-37.50%45.00%27.59%-8.11%44.12%140.82%-9.32%
Change in YoY Net Profit Growth (%)0.00%180.95%-147.92%-34.54%-21.71%82.50%-17.41%-35.69%52.23%96.70%-150.14%

TCPL Packaging Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:14%
5 Years:13%
3 Years:18%
TTM:5%
Compounded Profit Growth
10 Years:24%
5 Years:30%
3 Years:47%
TTM:10%
Stock Price CAGR
10 Years:23%
5 Years:64%
3 Years:82%
1 Year:31%
Return on Equity
10 Years:19%
5 Years:19%
3 Years:21%
Last Year:21%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 7:31 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital9999999999999
Reserves6979105136170207232260292335443531568
Borrowings153158180235303298320356321421459468581
Other Liabilities6275103105119123155174218240250275318
Total Liabilities2933213974856016377167998391,0061,1611,2831,477
Fixed Assets161183228282365358418452448504496606646
CWIP1429460111544728
Investments00000000428475946
Other Assets131134168194231273298346375468574610757
Total Assets2933213974856016377167998391,0061,1611,2831,477

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +245569728048818611577119225
Cash from Investing Activity +-31-43-61-86-112-33-69-72-46-138-101-157
Cash from Financing Activity +7-12-61332-15-11-16-6760-18-66
Net Cash Flow-002-10-02-23-1-13

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-98.00-97.00-98.00-134.00-206.00-213.00-215.00-230.00-187.00-265.00-223.00-219.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days696860606169666672787484
Inventory Days76767676109989294101989682
Days Payable617079618467656298886674
Cash Conversion Cycle84755874861009398748710592
Working Capital Days443828344859566473838885
ROCE %17%16%22%22%16%11%13%13%14%15%22%20%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters55.74%55.74%55.74%55.74%55.74%55.74%55.74%55.74%55.74%55.74%55.74%55.74%
FIIs0.37%0.42%0.53%0.80%0.95%0.69%0.61%0.71%0.74%0.80%0.78%0.93%
DIIs6.60%5.73%4.88%3.37%3.94%3.99%3.99%5.94%6.49%8.01%9.20%11.35%
Public37.30%38.12%38.85%40.10%39.13%39.34%39.41%37.37%36.80%35.22%34.05%31.75%
Others0.00%0.00%0.00%0.00%0.25%0.25%0.25%0.25%0.25%0.24%0.23%0.23%
No. of Shareholders9,95410,17312,59515,18917,65917,60018,12315,67415,68614,54514,08213,774

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
DSP Small Cap Fund544,7510.91123.26544,7512024-11-150%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21
FaceValue10.0010.0010.0010.00
Basic EPS (Rs.)111.39121.3651.5136.78
Diluted EPS (Rs.)111.39121.3651.5136.78
Cash EPS (Rs.)190.04191.62112.9793.38
Book Value[Excl.RevalReserv]/Share (Rs.)577.72487.41376.20330.17
Book Value[Incl.RevalReserv]/Share (Rs.)577.72487.41376.20330.17
Revenue From Operations / Share (Rs.)1693.831620.751193.12993.21
PBDIT / Share (Rs.)287.91269.90173.48149.46
PBIT / Share (Rs.)209.27199.64112.0292.86
PBT / Share (Rs.)147.89166.5874.4652.03
Net Profit / Share (Rs.)111.39121.3651.5136.78
NP After MI And SOA / Share (Rs.)111.39122.0552.0336.78
PBDIT Margin (%)16.9916.6514.5415.04
PBIT Margin (%)12.3512.319.389.35
PBT Margin (%)8.7310.276.245.23
Net Profit Margin (%)6.577.484.313.70
NP After MI And SOA Margin (%)6.577.534.363.70
Return on Networth / Equity (%)19.2825.1413.9211.14
Return on Capital Employeed (%)23.2025.7316.7217.25
Return On Assets (%)7.639.114.413.99
Long Term Debt / Equity (X)0.420.430.610.43
Total Debt / Equity (X)0.931.111.320.93
Asset Turnover Ratio (%)1.211.281.170.00
Current Ratio (X)1.201.120.991.04
Quick Ratio (X)0.790.640.590.62
Inventory Turnover Ratio (X)3.934.224.120.00
Dividend Payout Ratio (NP) (%)17.958.1914.1110.87
Dividend Payout Ratio (CP) (%)10.525.196.474.28
Earning Retention Ratio (%)82.0591.8185.8989.13
Cash Earning Retention Ratio (%)89.4894.8193.5395.72
Interest Coverage Ratio (X)4.695.194.623.66
Interest Coverage Ratio (Post Tax) (X)2.812.972.371.90
Enterprise Value (Cr.)2492.041766.271096.83669.09
EV / Net Operating Revenue (X)1.621.201.010.74
EV / EBITDA (X)9.517.196.954.92
MarketCap / Net Operating Revenue (X)1.320.860.600.43
Retention Ratios (%)82.0491.8085.8889.12
Price / BV (X)3.862.901.931.32
Price / Net Operating Revenue (X)1.320.860.600.43
EarningsYield0.040.080.070.08

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of TCPL Packaging Ltd as of November 21, 2024 is: 3,243.78

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 21, 2024, TCPL Packaging Ltd is Undervalued by 5.56% compared to the current share price 3,073.00

Intrinsic Value of TCPL Packaging Ltd as of November 21, 2024 is: 4,018.41

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 21, 2024, TCPL Packaging Ltd is Undervalued by 30.77% compared to the current share price 3,073.00

Last 5 Year EPS CAGR: 23.88%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 16.75%, which is a positive sign.
  2. The company has shown consistent growth in sales (481.92 cr) and profit (59.33 cr) over the years.
  1. The stock has a high average Working Capital Days of 58.33, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 85.50, which may not be favorable.
  3. The company has higher borrowings (327.15) compared to reserves (263.62), which may suggest financial risk.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in TCPL Packaging Ltd:
    1. Net Profit Margin: 6.57%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 23.2% (Industry Average ROCE: 10.36%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 19.28% (Industry Average ROE: 8.54%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 2.81
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.79
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 23.7 (Industry average Stock P/E: 34.34)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.93
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

TCPL Packaging Ltd. is a Public Limited Listed company incorporated on 27/08/1987 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L22210MH1987PLC044505 and registration number is 044505. Currently Company is involved in the business activities of Manufacture of other containers of paper and paperboard. Company’s Total Operating Revenue is Rs. 1076.02 Cr. and Equity Capital is Rs. 9.10 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Printing/Publishing/StationeryEmpire Mills Complex, Mumbai Maharashtra 400013info@tcpl.in
http://www.tcpl.in
Management
NamePosition Held
Mr. K K KanoriaExecutive Chairman
Mr. Saket KanoriaManaging Director
Mr. S G NanavatiExecutive Director
Mr. Akshay KanoriaExecutive Director
Mr. Vidur KanoriaExecutive Director
Mr. Rishav KanoriaDirector
Mrs. Deepa HarrisIndependent Director
Mr. Tarang JainIndependent Director
Mr. Ashish RazdanIndependent Director
Mr. Sunil TalatiIndependent Director
Dr. Andreas BlaschkeIndependent Director
Mr. Sanjiv AnandIndependent Director

FAQ

What is the latest intrinsic value of TCPL Packaging Ltd?

The latest intrinsic value of TCPL Packaging Ltd as on 21 November 2024 is ₹3243.78, which is 5.56% higher than the current market price of ₹3,073.00.

What is the Market Cap of TCPL Packaging Ltd?

The Market Cap of TCPL Packaging Ltd is 2,789 Cr..

What is the current Stock Price of TCPL Packaging Ltd as on 21 November 2024?

The current stock price of TCPL Packaging Ltd as on 21 November 2024 is ₹3,073.

What is the High / Low of TCPL Packaging Ltd stocks in FY 2024?

In FY 2024, the High / Low of TCPL Packaging Ltd stocks is 3,671/1,902.

What is the Stock P/E of TCPL Packaging Ltd?

The Stock P/E of TCPL Packaging Ltd is 23.7.

What is the Book Value of TCPL Packaging Ltd?

The Book Value of TCPL Packaging Ltd is 635.

What is the Dividend Yield of TCPL Packaging Ltd?

The Dividend Yield of TCPL Packaging Ltd is 0.72 %.

What is the ROCE of TCPL Packaging Ltd?

The ROCE of TCPL Packaging Ltd is 20.1 %.

What is the ROE of TCPL Packaging Ltd?

The ROE of TCPL Packaging Ltd is 21.4 %.

What is the Face Value of TCPL Packaging Ltd?

The Face Value of TCPL Packaging Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in TCPL Packaging Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE