Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Thejo Engineering Ltd

About the Company - Thejo Engineering Ltd

Thejo Engineering Ltd. is a Public Limited Listed company incorporated on 26/03/1986 and has its registered office in the State of Tamil Nadu, India. Company’s Corporate Identification Number(CIN) is L27209TN1986PLC012833 and registration number is 012833. Currently Company is involved in the business activities of Repair of machinery. Company’s Total Operating Revenue is Rs. 277.54 Cr. and Equity Capital is Rs. 10.66 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Engineering - General3rd Floor, VDS House, Chennai (Madras) Tamil Nadu 600086investor@thejo-engg.com
http://www.thejo-engg.com
Management
NamePosition Held
Mr. K J JosephChairman Emeritus
Mr. V A GeorgeExecutive Chairman
Mr. Thomas JohnVice Chairman
Mr. Manoj JosephManaging Director
Mr. Manesh JosephWhole Time Director
Mr. Rajesh JohnWhole Time Director
Mrs. Sujatha JayarajanIndependent Director
Mr. Srinivas AcharyaIndependent Director
Mr. A SatyaseelanIndependent Director
Mr. Sridhar GaneshIndependent Director
Mr. Nilesh S VikamseyIndependent Director
Mr. V K SrivastavaIndependent Director

Thejo Engineering Ltd. Share Price Update

Share PriceValue
Today₹2,123.85
Previous Day₹2,067.95

Basic Stock Data of Thejo Engineering Ltd

Market Cap 2,183 Cr.
Current Price 2,028
High / Low2,299/1,126
Stock P/E45.6
Book Value 205
Dividend Yield0.10 %
ROCE20.8 %
ROE18.1 %
Face Value 10.0

Data Source: screener.in

Competitors of Thejo Engineering Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Mazda Ltd 574 Cr. 1,4341,661/59517.5 4840.99 %21.0 %15.4 % 10.0
Salasar Techno Engineering Ltd 3,931 Cr. 24.934.1/7.2077.0 2.640.07 %14.3 %11.9 % 1.00
Acrow India Ltd 49.3 Cr. 7701,122/61179.5 3550.00 %1.80 %1.48 % 10.0
Va Tech Wabag Ltd 4,467 Cr. 718745/30514.8 2700.00 %19.5 %3.11 % 2.00
Supreme Engineering Ltd 31.2 Cr. 1.251.40/0.50 2.700.00 %120 %% 1.00
Industry Average132.3 Cr303.0337.76222.870.21%35.32%6.38%4.8

Thejo Engineering Ltd Quarterly Results

MonthJun 2022Sep 2022Mar 2023Jun 2023Sep 2023
Sales111119122135134
Expenses92104112112111
Operating Profit1915102323
OPM %17%13%8%17%17%
Other Income01110
Interest11122
Depreciation33355
Profit before tax161261717
Tax %25%23%24%23%20%
Net Profit12951414
EPS in Rs9.827.754.3911.8412.25

Thejo Engineering Ltd Quarterly Chart

Thejo Engineering Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Sales108126147186175178220229303327424474
Expenses95110133175162158192197254276355414
Operating Profit131614111320273149506960
OPM %12%13%9%6%7%11%12%14%16%15%16%13%
Other Income521100110313
Interest445666655435
Depreciation23466556691112
Profit before tax13126019172238415646
Tax %30%34%79%1,240%149%34%23%31%21%27%24%24%
Net Profit981-2-16131530294335
EPS in Rs7.493.04-0.220.205.5910.7312.9724.1725.1935.3130.30
Dividend Payout %5%11%38%-522%572%21%12%13%7%8%6%7%

Thejo Engineering Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth
Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-11.11%-87.50%-300.00%50.00%700.00%116.67%15.38%100.00%-3.33%48.28%-18.60%
Change in YoY Net Profit Growth (%)0.00%-76.39%-212.50%350.00%650.00%-583.33%-101.28%84.62%-103.33%51.61%-66.88%

Thejo Engineering Ltd Growth

Compounded Sales Growth
10 Years:14%
5 Years:17%
3 Years:16%
TTM:12%
Compounded Profit Growth
10 Years:15%
5 Years:25%
3 Years:9%
TTM:-14%
Stock Price CAGR
10 Years:%
5 Years:62%
3 Years:73%
1 Year:64%
Return on Equity
10 Years:18%
5 Years:22%
3 Years:22%
Last Year:18%

Thejo Engineering Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital1233333334111111
Reserves254950484652627498125154186209
Borrowings22263137394134313618384549
Other Liabilities3641506054415460799498121125
Total Liabilities84118135148143138153169216240301362393
Fixed Assets1623333130293234324666112111
CWIP1010011001122
Investments0000000000000
Other Assets6795101116112108119135184193234249280
Total Assets84118135148143138153169216240301362393

Thejo Engineering Ltd Reserves and Borrowings Chart

Thejo Engineering Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 2051412242019522759
Cash from Investing Activity -2-10-13-4-4-5-8-6-5-13-15-51
Cash from Financing Activity -11944-4-4-15-9-2-31-0-8
Net Cash Flow-110-41-4315138130

Thejo Engineering Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days1131171151081121201091021221049283
Inventory Days105133117110281221196315229214198201
Days Payable126131107131193185155207178223131161
Cash Conversion Cycle921191248720015715021017394159123
Working Capital Days7799918294105829695828876
ROCE %30%25%13%7%8%16%22%24%33%28%31%21%

Thejo Engineering Ltd Financial Efficiency Indicators Chart

Thejo Engineering Ltd Share Holding Pattern

MonthMar 2018Sep 2018Mar 2019Sep 2019Mar 2020Sep 2020Mar 2021Sep 2021Oct 2021Mar 2022Sep 2022Mar 2023
Promoters56.70%56.69%56.63%56.50%56.25%55.90%55.32%54.84%54.84%54.71%54.44%54.34%
FIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.14%
DIIs12.06%11.51%11.24%11.00%8.37%0.30%0.00%0.00%0.00%0.00%0.00%0.45%
Public31.23%31.81%32.13%32.50%35.39%43.80%44.67%45.16%45.16%45.30%45.56%45.07%
No. of Shareholders2582522522663595736087758791,0381,2201,156

Thejo Engineering Ltd Shareholding Pattern Chart

No. of Thejo Engineering Ltd Shareholders

This stock is not held by any mutual fund

Thejo Engineering Ltd ROCE Trend

Thejo Engineering Ltd EPS Trend

Thejo Engineering Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)30.3535.4125.3172.9138.89
Diluted EPS (Rs.)30.0034.9224.9272.2038.89
Cash EPS (Rs.)43.9149.77108.66106.0461.96
Book Value[Excl.RevalReserv]/Share (Rs.)205.11174.24409.46326.69243.48
Book Value[Incl.RevalReserv]/Share (Rs.)205.11174.24409.46326.69243.48
Revenue From Operations / Share (Rs.)443.38398.29930.13878.22667.64
PBDIT / Share (Rs.)58.4765.64150.67142.6094.82
PBIT / Share (Rs.)47.0855.76125.75124.3076.00
PBT / Share (Rs.)42.7752.81115.25111.0362.83
Net Profit / Share (Rs.)32.5239.8983.7487.7443.14
NP After MI And SOA / Share (Rs.)30.2935.3175.2372.6438.86
PBDIT Margin (%)13.1816.4816.1916.2314.20
PBIT Margin (%)10.6114.0013.5114.1511.38
PBT Margin (%)9.6413.2512.3912.649.41
Net Profit Margin (%)7.3310.019.009.996.46
NP After MI And SOA Margin (%)6.838.868.088.275.82
Return on Networth / Equity (%)16.5122.8020.5724.8217.24
Return on Capital Employeed (%)19.2626.6228.0534.3228.47
Return On Assets (%)8.8912.4210.9611.708.00
Long Term Debt / Equity (X)0.050.070.030.110.09
Total Debt / Equity (X)0.080.100.070.290.36
Asset Turnover Ratio (%)1.421.161.051.191.23
Current Ratio (X)2.392.862.251.981.70
Quick Ratio (X)1.822.201.791.601.22
Inventory Turnover Ratio (X)1.991.921.331.361.66
Dividend Payout Ratio (NP) (%)6.585.646.556.8510.28
Dividend Payout Ratio (CP) (%)4.784.414.925.476.92
Earning Retention Ratio (%)93.4294.3693.4593.1589.72
Cash Earning Retention Ratio (%)95.2295.5995.0894.5393.08
Interest Coverage Ratio (X)13.5822.2114.3510.747.20
Interest Coverage Ratio (Post Tax) (X)8.5514.508.977.614.28
Enterprise Value (Cr.)1406.591268.64399.08169.15211.89
EV / Net Operating Revenue (X)2.962.991.220.550.92
EV / EBITDA (X)22.4818.137.533.436.50
MarketCap / Net Operating Revenue (X)2.993.021.260.510.83
Retention Ratios (%)93.4194.3593.4493.1489.71
Price / BV (X)7.237.773.201.542.48
Price / Net Operating Revenue (X)2.993.021.260.510.83
EarningsYield0.020.020.060.160.06

Thejo Engineering Ltd Profitability Ratios (%)

Thejo Engineering Ltd Liquidity Ratios

Thejo Engineering Ltd Liquidity Ratios (%)

Thejo Engineering Ltd Interest Coverage Ratios (X)

Thejo Engineering Ltd Valuation Ratios

Fair Value / Intrinsic Value of Thejo Engineering Ltd

Fair Value: ₹1693.68

The stock is overvalued by 16.49% compared to the current price ₹2028

*Investments are subject to market risks

Strength and Weakness of Thejo Engineering Ltd

StrengthWeakness
  1. The stock has a high average ROCE of 21.50%, which is a positive sign.
  2. The company has higher reserves (90.62 cr) compared to borrowings (34.38 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (241.42 cr) and profit (21.75 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 85.78 and average Dividend Yield of 12.73%.
  2. The stock has a high average Working Capital Days of 88.92, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 140.67, which may not be favorable.

Should I Buy Thejo Engineering Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Thejo Engineering Ltd:
    1. Net Profit Margin: 7.33%
      • 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: 19.26% (Industry Average ROCE: 24.7%)
      • 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. Interest Coverage Ratio (Post Tax): 8.55
      • 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.
    4. Quick Ratio: 1.82
      • 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.
    5. ✗ Stock P/E: 47.8 (Industry average Stock P/E: 30.76)
      • 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.
    6. ✓ Total Debt / Equity: 0.08
      • 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 suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

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 Thejo Engineering 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