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Last Updated on: 27 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Tinplate Company of India Ltd

About the Company - Tinplate Company of India Ltd

Tinplate Company of India Ltd. is a Public Limited Listed company incorporated on 20/01/1920 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L28112WB1920PLC003606 and registration number is 003606. Currently Company is involved in the business activities of Manufacturing of Tinplate. Company’s Total Operating Revenue is Rs. 4249.51 Cr. and Equity Capital is Rs. 104.80 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Metals - Non Ferrous - Others4, Bankshall Street, Kolkata West Bengal 700001company.secretariat@tatatinplate.com
http://www.tatatinplate.com
Management
NamePosition Held
Mr. Koushik ChatterjeeChairman
Mr. R N MurthyManaging Director
Dr. Sougata RayDirector
Mr. Shashi Kant MaudgalDirector
Dr. Rupali BasuDirector
Ms. Atrayee SanyalDirector
Mr. Krishnava DuttDirector
Mr. Prabhat KumarDirector

Tinplate Company of India Ltd. Share Price Update

Share PriceValue
Today₹430.45
Previous Day₹430.45

Basic Stock Data of Tinplate Company of India Ltd

Market Cap 4,506 Cr.
Current Price 430
High / Low462/301
Stock P/E48.3
Book Value 118
Dividend Yield0.70 %
ROCE15.8 %
ROE11.1 %
Face Value 10.0

Data Source: screener.in

Competitors of Tinplate Company of India Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
ABC Gas (International) Ltd 11.6 Cr. 58.561.4/25.7 17.80.00 %1.31 %3.70 % 10.0
Industry Average11.60 Cr58.500.0017.800.00%1.31%3.70%10.00

Tinplate Company of India Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales531.49615.14754.98866.29976.821,179.511,226.881,006.52959.54959.931,032.87914.25941.79
Expenses499.60561.08669.85764.99869.931,046.061,068.36886.03999.85907.20951.74906.57941.85
Operating Profit31.8954.0685.13101.30106.89133.45158.52120.49-40.3152.7381.137.68-0.06
OPM %6.00%8.79%11.28%11.69%10.94%11.31%12.92%11.97%-4.20%5.49%7.85%0.84%-0.01%
Other Income5.466.777.888.1110.1010.3511.4810.6412.2315.1017.5917.0318.16
Interest1.721.423.062.462.061.981.712.182.642.634.763.723.56
Depreciation15.4615.3615.4614.9114.9414.8016.1515.2515.7816.5016.9517.3817.66
Profit before tax20.1744.0574.4992.0499.99127.02152.14113.70-46.5048.7077.013.61-3.12
Tax %20.28%25.52%24.61%25.45%25.06%25.26%24.79%25.26%24.54%25.30%26.55%27.15%26.60%
Net Profit16.0832.8256.1668.6274.9394.94114.4284.98-35.1036.3856.562.63-2.29
EPS in Rs1.543.135.366.557.169.0710.938.12-3.353.475.400.25-0.22

Tinplate Company of India Ltd Quarterly Chart

Tinplate Company of India Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales6278771,0599118368301,9192,5842,1062,2814,2503,9593,849
Expenses5537659117876697391,7552,4511,9542,1043,7483,7453,707
Operating Profit7411214812416791164133151177501214141
OPM %12%13%14%14%20%11%9%5%7%8%12%5%4%
Other Income19212527181816292424395568
Interest17252112633710881215
Depreciation48586171736662646162616468
Profit before tax285091681064111592104132471193126
Tax %41%43%31%34%36%32%37%37%9%26%25%26%
Net Profit1728634568287358959835314393
EPS in Rs1.582.706.004.266.482.666.995.549.089.3733.7113.648.90
Dividend Payout %54%37%27%38%31%60%29%36%11%21%12%22%

Tinplate Company of India 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 (%)64.71%125.00%-28.57%51.11%-58.82%160.71%-20.55%63.79%3.16%260.20%-59.49%
Change in YoY Net Profit Growth (%)0.00%60.29%-153.57%79.68%-109.93%219.54%-181.26%84.34%-60.64%257.05%-319.69%

Tinplate Company of India Ltd Growth

Compounded Sales Growth
10 Years:16%
5 Years:16%
3 Years:23%
TTM:-12%
Compounded Profit Growth
10 Years:17%
5 Years:13%
3 Years:12%
TTM:-64%
Stock Price CAGR
10 Years:25%
5 Years:26%
3 Years:36%
1 Year:34%
Return on Equity
10 Years:14%
5 Years:17%
3 Years:19%
Last Year:11%

Tinplate Company of India Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital105105105105105105105105105105105105105
Reserves3893954294445185175726066567411,0661,1581,126
Preference Capital11210246000000000
Borrowings135156914500001413121515
Other Liabilities325342321277244251431465424496798648618
Total Liabilities9539989468718678741,1071,1761,1981,3561,9811,9261,864
Fixed Assets753762723680628604567563578545556596596
CWIP36122617432443422315543356
Investments00005385197937221325283
Other Assets1642231961731902084464745037231,1571,0441,129
Total Assets9539989468718678741,1071,1761,1981,3561,9811,9261,864

Tinplate Company of India Ltd Reserves and Borrowings Chart

Tinplate Company of India Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 114841991701149110812453252454215
Cash from Investing Activity -64-50-35-35-36-57-51-104-32-162-373-269
Cash from Financing Activity -52-34-164-134-75-28-23-32-33-18-31-56
Net Cash Flow-10-113534-12-127350-109

Tinplate Company of India Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days2435201422361918121252
Inventory Days8568568014985574185635348
Days Payable8459619011390534153565049
Cash Conversion Cycle244416459312317441981
Working Capital Days-217-10-1728361813269-1-3
ROCE %6%10%16%13%18%7%18%14%15%17%47%16%

Tinplate Company of India Ltd Financial Efficiency Indicators Chart

Tinplate Company of India Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%
FIIs0.73%2.42%2.61%2.66%2.97%3.01%2.84%2.26%2.00%2.12%2.03%2.51%
DIIs0.01%0.01%0.01%0.00%0.01%0.01%0.00%0.00%0.01%0.00%0.15%0.25%
Government0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Public24.28%22.60%22.41%22.36%22.04%22.00%22.16%22.75%23.00%22.88%22.84%22.26%
No. of Shareholders74,14676,19688,74492,07696,60599,6141,06,51197,49492,41188,54881,16475,167

Tinplate Company of India Ltd Shareholding Pattern Chart

No. of Tinplate Company of India Ltd Shareholders

Tinplate Company of India Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Motilal Oswal Nifty Microcap 250 Index Fund283050.21.27

Tinplate Company of India Ltd ROCE Trend

Tinplate Company of India Ltd EPS Trend

Tinplate Company of India Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)13.6533.729.389.085.54
Diluted EPS (Rs.)13.6533.729.389.085.54
Cash EPS (Rs.)19.7839.4815.2514.9111.60
Book Value[Excl.RevalReserv]/Share (Rs.)120.52111.7480.7372.5967.86
Book Value[Incl.RevalReserv]/Share (Rs.)120.52111.7480.7372.5967.86
Dividend / Share (Rs.)3.004.002.001.002.00
Revenue From Operations / Share (Rs.)377.76405.50217.69200.93246.62
PBDIT / Share (Rs.)25.7351.5519.2116.7815.50
PBIT / Share (Rs.)19.5745.7413.3310.949.44
PBT / Share (Rs.)18.4144.9612.599.948.76
Net Profit / Share (Rs.)13.6333.679.379.075.53
PBDIT Margin (%)6.8112.718.828.356.28
PBIT Margin (%)5.1811.286.125.443.82
PBT Margin (%)4.8711.085.784.943.55
Net Profit Margin (%)3.608.304.304.512.24
Return on Networth / Equity (%)11.3030.1311.6012.498.15
Return on Capital Employeed (%)14.5636.6514.3312.9111.67
Return On Assets (%)7.4117.817.237.934.93
Asset Turnover Ratio (%)2.032.551.791.772.26
Current Ratio (X)2.451.991.911.851.67
Quick Ratio (X)1.741.361.200.811.03
Inventory Turnover Ratio (X)7.038.645.105.689.36
Dividend Payout Ratio (NP) (%)29.315.9310.6622.0236.09
Dividend Payout Ratio (CP) (%)20.195.056.5413.3917.22
Earning Retention Ratio (%)70.6994.0789.3477.9863.91
Cash Earning Retention Ratio (%)79.8194.9593.4686.6182.78
Interest Coverage Ratio (X)22.0765.8725.9616.7822.72
Interest Coverage Ratio (Post Tax) (X)12.6944.0313.6510.079.11
Enterprise Value (Cr.)2722.383743.391463.68762.281585.30
EV / Net Operating Revenue (X)0.680.880.640.360.61
EV / EBITDA (X)10.106.937.274.339.76
MarketCap / Net Operating Revenue (X)0.820.980.730.370.62
Retention Ratios (%)70.6894.0689.3377.9763.90
Price / BV (X)2.583.591.991.032.28
Price / Net Operating Revenue (X)0.820.980.730.370.62
EarningsYield0.040.080.050.120.03

Tinplate Company of India Ltd Profitability Ratios (%)

Tinplate Company of India Ltd Liquidity Ratios

Tinplate Company of India Ltd Liquidity Ratios (%)

Tinplate Company of India Ltd Interest Coverage Ratios (X)

Tinplate Company of India Ltd Valuation Ratios

Fair Value / Intrinsic Value of Tinplate Company of India Ltd

Fair Value: ₹637.06

The stock is undervalued by 48.15% compared to the current price ₹430

*Investments are subject to market risks

Strength and Weakness of Tinplate Company of India Ltd

StrengthWeakness
  1. The stock has a high average ROCE of 16.42%, which is a positive sign.
  2. The stock has a low average Working Capital Days of 7.08, which is a positive sign.
  3. The company has higher reserves (662.85 cr) compared to borrowings (20.00 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (315.31 cr) and profit (124.38 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 25.75 and average Dividend Yield of 6.37%.
  2. The stock has a high average Cash Conversion Cycle of 24.17, which may not be favorable.

Should I Buy Tinplate Company of India Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Tinplate Company of India Ltd:
    1. Net Profit Margin: 3.60%
      • 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: 14.56% (Industry Average ROCE: 1.31%)
      • 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): 12.69
      • 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: 1.74
      • 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: 48.3 (Industry average Stock P/E: 0)
      • 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: N/A
      • 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 Tinplate Company of India 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