Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated on: 23 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of TCPL Packaging Ltd

Basic Stock Data

Last Updated: June 24, 2024, 3:19 am

Market Cap 1,919 Cr.
Current Price 2,109
High / Low2,499/1,343
Stock P/E18.0
Book Value 593
Dividend Yield1.04 %
ROCE20.1 %
ROE21.5 %
Face Value 10.0
PEG Ratio0.77

Competitors of TCPL Packaging Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Sundaram Multi Pap Ltd 151 Cr. 3.184.20/2.05 1.950.00 %0.19 %3.38 % 1.00
Navneet Education Ltd 3,470 Cr. 153176/12018.0 57.21.69 %16.2 %15.8 % 2.00
Kokuyo Camlin Ltd 1,527 Cr. 152179/11034.8 29.50.33 %18.3 %15.7 % 1.00
Kshitij Polyline Ltd 39.0 Cr. 7.709.05/4.4524.2 4.010.00 %8.64 %8.22 % 2.00
Sandesh Ltd 1,121 Cr. 1,4811,494/9015.95 1,6620.34 %20.9 %16.3 % 10.0
Industry Average1,144.79 Cr265.9929.82180.630.84%10.68%8.55%6.36

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales246226253274323335349366381360389354383
Expenses211196217232274282293306315299325296317
Operating Profit35303642485456606660645966
OPM %14%13%14%15%15%16%16%16%17%17%16%17%17%
Other Income10020320311425
Interest888891010111213121413
Depreciation13131414141515151615171718
Profit before tax1591521253251373934383040
Tax %15%37%29%32%27%29%20%28%29%26%20%30%24%
Net Profit1361114192341272825302130
EPS in Rs13.846.6011.7415.4420.3424.8144.5629.5130.2927.6933.3522.8533.19

Last Updated: June 9, 2024, 10:39 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 27, 2024, 6:11 am

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales2833733954985936136988168909041,0761,4321,484
Expenses2423183334164925166137117647709201,1961,236
Operating Profit415561821019785105126134156236248
OPM %15%15%16%17%17%16%12%13%14%15%15%16%17%
Other Income12-0-0-0121232278
Interest13161817202225283737334451
Depreciation18202422252935364852556166
Profit before tax1120204355462742424870158140
Tax %32%34%37%25%31%30%25%31%14%29%30%26%
Net Profit814123238322029373449118104
EPS in Rs8.8615.5314.3737.0044.0037.3222.2231.8140.1337.0854.13129.16114.18
Dividend Payout %23%17%17%16%17%17%17%16%10%20%18%15%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)75.00%-14.29%166.67%18.75%-15.79%-37.50%45.00%27.59%-8.11%44.12%140.82%
Change in YoY Net Profit Growth (%)0.00%-89.29%180.95%-147.92%-34.54%-21.71%82.50%-17.41%-35.69%52.23%96.70%

Growth

Compounded Sales Growth
10 Years:14%
5 Years:15%
3 Years:17%
TTM:8%
Compounded Profit Growth
10 Years:23%
5 Years:39%
3 Years:42%
TTM:10%
Stock Price CAGR
10 Years:41%
5 Years:41%
3 Years:78%
1 Year:51%
Return on Equity
10 Years:18%
5 Years:17%
3 Years:18%
Last Year:26%

Last Updated: April 13, 2024, 9:19 am

Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital9999999999999
Reserves586979105136170207232260292335443480
Borrowings126153158180235303298320356321421459548
Other Liabilities546275103105119123155174218240250244
Total Liabilities2472933213974856016377167998391,0061,1611,281
Fixed Assets146161183228282365358418452448504496582
CWIP314294601115448
Investments0000000004284755
Other Assets98131134168194231273298346375468574636
Total Assets2472933213974856016377167998391,0061,1611,281

Reserves and Borrowings Chart

TCPL Packaging Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 33245569728048818611577119
Cash from Investing Activity -51-31-43-61-86-112-33-69-72-46-138-101
Cash from Financing Activity 197-12-61332-15-11-16-6760-18
Net Cash Flow0-002-10-02-23-1-1

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow-85.00-98.00-97.00-98.00-134.00-206.00-213.00-215.00-230.00-187.00-265.00-223.00

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%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 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%
FIIs0.32%0.29%0.37%0.42%0.53%0.80%0.95%0.69%0.61%0.71%0.74%0.80%
DIIs7.71%6.16%6.60%5.73%4.88%3.37%3.94%3.99%3.99%5.94%6.49%8.01%
Public36.24%37.81%37.30%38.12%38.85%40.10%39.13%39.34%39.41%37.37%36.80%35.22%
Others0.00%0.00%0.00%0.00%0.00%0.00%0.25%0.25%0.25%0.25%0.25%0.24%
No. of Shareholders7,14110,0449,95410,17312,59515,18917,65917,60018,12315,67415,68614,545

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 Fund544,7510.91123.26544,7512024-06-180%

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.)1662.401620.751193.12993.21
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 (%)17.3116.6514.5415.04
PBIT Margin (%)12.5812.319.389.35
PBT Margin (%)8.8910.276.245.23
Net Profit Margin (%)6.707.484.313.70
NP After MI And SOA Margin (%)6.707.534.363.70
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 (%)1.191.281.170.00
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) (%)0.008.1914.1110.87
Dividend Payout Ratio (CP) (%)0.005.196.474.28
Earning Retention Ratio (%)0.0091.8185.8989.13
Cash Earning Retention Ratio (%)0.0094.8193.5395.72
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)1.651.201.010.74
EV / EBITDA (X)9.517.196.954.92
MarketCap / Net Operating Revenue (X)1.340.860.600.43
Retention Ratios (%)0.0091.8085.8889.12
Price / BV (X)3.862.901.931.32
Price / Net Operating Revenue (X)1.340.860.600.43
EarningsYield0.040.080.070.08

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 2,318.78

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.

Undervalued: 9.95% compared to the current price 2109

Intrinsic Value: 2,858.14

Calculation basis:

  • Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 35.52% compared to the current price ₹2109

Last 5 Year EPS CAGR: 23.26%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 15.08%, which is a positive sign.
  2. The company has shown consistent growth in sales (466.62 cr) and profit (55.54 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 (306.00) compared to reserves (238.25), 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: 6.70%
      • 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: 23.20% (Industry Average ROCE: %)
      • 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: %)
      • 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: 18.0 (Industry average Stock P/E: )
      • 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

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. Rishav KanoriaDirector
Mrs. Deepa HarrisIndependent Director
Mr. Rabindra JhunjhunwalaIndependent Director
Mr. Sudhir MerchantIndependent Director
Mr. Atul SudIndependent Director
Mr. Sunil TalatiIndependent Director

FAQ

What is the latest fair value of TCPL Packaging Ltd?

The latest fair value of TCPL Packaging Ltd is ₹2318.78.

What is the Market Cap of TCPL Packaging Ltd?

The Market Cap of TCPL Packaging Ltd is 1,919 Cr..

What is the current Stock Price of TCPL Packaging Ltd as on 23 June 2024?

The current stock price of TCPL Packaging Ltd as on 23 June 2024 is ₹2,109.

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 2,499/1,343.

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

The Stock P/E of TCPL Packaging Ltd is 18.0.

What is the Book Value of TCPL Packaging Ltd?

The Book Value of TCPL Packaging Ltd is 593.

What is the Dividend Yield of TCPL Packaging Ltd?

The Dividend Yield of TCPL Packaging Ltd is 1.04 %.

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 21.5 %.

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