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Last Updated on: 23 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Transformers & Rectifiers India Ltd (TRIL)

Basic Stock Data

Last Updated: June 22, 2024, 10:20 pm

Market Cap 11,511 Cr.
Current Price 767
High / Low846/76.0
Stock P/E260
Book Value 38.9
Dividend Yield0.03 %
ROCE14.8 %
ROE9.33 %
Face Value 1.00
PEG Ratio1.70

Competitors of Transformers & Rectifiers India Ltd (TRIL)

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Power Grid Corporation of India Ltd 2,99,014 Cr. 322349/17819.2 93.73.44 %13.0 %18.3 % 10.0
Voltamp Transformers Ltd 11,442 Cr. 11,31012,500/3,87637.2 1,3380.35 %32.5 %25.0 % 10.0
Jyoti Structures Ltd 2,445 Cr. 28.834.0/7.0884.7 0.300.00 %1.10 %% 2.00
Adani Energy Solutions Ltd 1,13,758 Cr. 1,0201,250/686109 1130.00 %9.00 %8.59 % 10.0
KEC International Ltd 22,327 Cr. 868953/54664.4 1590.35 %14.2 %8.82 % 2.00
Industry Average74,870.67 Cr2,295.6382.92288.650.73%13.20%10.86%7.33

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales284217267335341300325332438156257369513
Expenses262201246317324278291300406151237331441
Operating Profit2216211816233431334203872
OPM %8%8%8%5%5%8%10%9%7%3%8%10%14%
Other Income6315322411121
Interest13101010131013121215121311
Depreciation5445344976666
Profit before tax10488210181415-1532156
Tax %36%35%34%34%84%36%34%-2%35%20%37%24%26%
Net Profit735606121410-1221642
EPS in Rs0.490.210.360.390.100.480.871.040.68-0.950.121.092.80

Last Updated: June 10, 2024, 6:36 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 27, 2024, 6:13 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales5127325536578217168557017421,1581,3961,291
Expenses4896905236187336507946496731,0841,2751,157
Operating Profit23423138876561516974121134
OPM %5%6%6%6%11%9%7%7%9%6%9%10%
Other Income543466121691096
Interest132632384244464646444851
Depreciation81013151516192019172525
Profit before tax89-11-1036119213235764
Tax %25%35%34%32%34%41%41%44%39%39%26%27%
Net Profit55-8-7246518144247
EPS in Rs0.340.39-0.61-0.571.760.410.340.030.531.063.073.12
Dividend Payout %21%23%0%0%0%0%0%0%19%14%5%6%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)0.00%-260.00%12.50%442.86%-75.00%-16.67%-80.00%700.00%75.00%200.00%11.90%
Change in YoY Net Profit Growth (%)0.00%-260.00%272.50%430.36%-517.86%58.33%-63.33%780.00%-625.00%125.00%-188.10%

Growth

Compounded Sales Growth
10 Years:6%
5 Years:9%
3 Years:20%
TTM:-7%
Compounded Profit Growth
10 Years:24%
5 Years:57%
3 Years:84%
TTM:9%
Stock Price CAGR
10 Years:47%
5 Years:139%
3 Years:207%
1 Year:804%
Return on Equity
10 Years:4%
5 Years:6%
3 Years:8%
Last Year:9%

Last Updated: June 16, 2024, 4:50 pm

Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital13131313131313131313131313
Reserves323327330321313312317322323330343380368
Borrowings44107170157164209399263308263325330383
Other Liabilities153188294232299341358281289319428464502
Total Liabilities5336348077237898761,0888809339251,1091,1871,266
Fixed Assets106154155192185187195201193181168153145
CWIP3017261111612320336
Investments2100000000110
Other Assets3964636265195926828816767387449361,0301,116
Total Assets5336348077237898761,0888809339251,1091,1871,266

Reserves and Borrowings Chart

Transformers & Rectifiers India Ltd (TRIL) Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 90-43-32933766-1021791696228
Cash from Investing Activity -25-37-16-30-5-24-31-8-15-7-89
Cash from Financing Activity -415437-50-31-61145-1822-9317-45
Net Cash Flow23-27-11130-1812-113-411-7

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-84.00-128.00-126.00-126.00-122.00-334.00-202.00-257.00-194.00-251.00-209.00-122.00

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 Days164191158171166256161218205164166174
Inventory Days957814715512018210915314710493109
Days Payable8513616020914920311416117912911895
Cash Conversion Cycle174134145117138235156210173139141188
Working Capital Days192161159134133238146203190145138176
ROCE %5%7%4%6%15%9%8%8%9%10%15%15%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters74.91%74.91%74.91%74.91%74.91%74.91%74.91%74.91%74.91%69.65%69.65%66.16%
FIIs0.01%0.06%0.19%0.00%0.05%0.00%0.02%0.03%0.56%3.48%4.45%7.89%
DIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%1.89%5.36%
Public25.08%25.04%24.90%25.09%25.05%25.09%25.07%25.07%24.53%26.87%24.00%20.59%
No. of Shareholders39,96143,97646,77346,39646,81047,58549,01251,34254,11861,97264,97780,939

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HSBC Large & Mid Cap Fund738,5000.9525.69130,0002024-06-22468.08%
HSBC ELSS Tax saver Fund667,0000.6423.2130,0002024-06-22413.08%
HSBC Equity Savings Fund130,0002.044.52130,0002024-06-220%
HSBC Conservative Hybrid Fund30,0000.941.04130,0002024-06-22-76.92%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)-0.35-0.38-2.38-1.01-4.00
Diluted EPS (Rs.)-0.35-0.38-2.38-1.01-4.00
Cash EPS (Rs.)-0.35-0.38-2.38-1.01-4.00
Book Value[Excl.RevalReserv]/Share (Rs.)8.949.293.005.426.21
Book Value[Incl.RevalReserv]/Share (Rs.)8.949.293.005.426.21
Revenue From Operations / Share (Rs.)0.000.000.002.551.34
PBDIT / Share (Rs.)-0.35-0.38-2.38-1.01-4.00
PBIT / Share (Rs.)-0.35-0.38-2.38-1.01-4.00
PBT / Share (Rs.)-0.35-0.38-2.38-1.01-4.00
Net Profit / Share (Rs.)-0.35-0.38-2.38-1.01-4.00
PBDIT Margin (%)0.000.000.00-39.45-297.43
PBIT Margin (%)0.000.000.00-39.45-297.43
PBT Margin (%)0.000.000.00-39.45-297.43
Net Profit Margin (%)0.000.000.00-39.45-297.43
Return on Networth / Equity (%)-3.97-4.11-79.28-18.60-64.32
Return on Capital Employeed (%)-3.96-4.09-58.86-15.60-56.72
Return On Assets (%)-3.82-4.07-48.09-11.87-49.65
Long Term Debt / Equity (X)0.000.010.340.190.13
Total Debt / Equity (X)0.030.010.340.190.13
Asset Turnover Ratio (%)0.000.000.000.300.14
Current Ratio (X)27.74176.875.204.067.96
Quick Ratio (X)27.74176.875.204.067.96
Enterprise Value (Cr.)6.586.690.300.330.32
EV / Net Operating Revenue (X)0.000.000.005.3510.06
EV / EBITDA (X)-36.31-34.27-5.17-13.57-3.38
MarketCap / Net Operating Revenue (X)0.000.000.005.139.74
Price / BV (X)1.461.414.362.422.11
Price / Net Operating Revenue (X)0.000.000.005.139.75
EarningsYield-0.02-0.02-0.18-0.07-0.30

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 943.92

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: 23.07% compared to the current price 767

Intrinsic Value: 2,389.69

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: 211.56% compared to the current price ₹767

Last 5 Year EPS CAGR: 153.17%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (346.58 cr) compared to borrowings (245.92 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (524.33 cr) and profit (17.58 cr) over the years.
  1. The stock has a low average ROCE of 9.25%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 167.92, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 162.50, which may not be favorable.

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 Transformers & Rectifiers India Ltd (TRIL):
    1. Net Profit Margin: 0.00%
      • 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: -3.96% (Industry Average ROCE: 9.33%)
      • 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%: -3.97% (Industry Average ROE: 8.03%)
      • 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): N/A
      • 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: 27.74
      • 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.
    6. ✗ Stock P/E: 260 (Industry average Stock P/E: 89.64)
      • 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: 0.03
      • 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

Transformers & Rectifiers (India) Ltd. is a Public Limited Listed company incorporated on 11/07/1994 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L33121GJ1994PLC022460 and registration number is 022460. Currently company belongs to the Industry of Power - Transmission/Equipment. Company’s Total Operating Revenue is Rs. 1122.58 Cr. and Equity Capital is Rs. 13.26 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Power - Transmission/EquipmentSurvey No.427 P/3-4 & 431 P/1-2, Ahmedabad District Gujarat 382213cs@transformerindia.com
http://www.transformerindia.com
Management
NamePosition Held
Mr. Jitendra U MamtoraChairman & Wholetime Director
Mr. Satyen J MamtoraManaging Director
Mrs. Karuna J MamtoraExecutive Director
Mrs. Tanvi V RangwalaIndependent Director
Mr. Rajendra S ShahIndependent Director
Mr. Subir Kumar DasIndependent Director

FAQ

What is the latest fair value of Transformers & Rectifiers India Ltd (TRIL)?

The latest fair value of Transformers & Rectifiers India Ltd (TRIL) is ₹943.92.

What is the Market Cap of Transformers & Rectifiers India Ltd (TRIL)?

The Market Cap of Transformers & Rectifiers India Ltd (TRIL) is 11,511 Cr..

What is the current Stock Price of Transformers & Rectifiers India Ltd (TRIL) as on 23 June 2024?

The current stock price of Transformers & Rectifiers India Ltd (TRIL) as on 23 June 2024 is ₹767.

What is the High / Low of Transformers & Rectifiers India Ltd (TRIL) stocks in FY 2024?

In FY 2024, the High / Low of Transformers & Rectifiers India Ltd (TRIL) stocks is 846/76.0.

What is the Stock P/E of Transformers & Rectifiers India Ltd (TRIL)?

The Stock P/E of Transformers & Rectifiers India Ltd (TRIL) is 260.

What is the Book Value of Transformers & Rectifiers India Ltd (TRIL)?

The Book Value of Transformers & Rectifiers India Ltd (TRIL) is 38.9.

What is the Dividend Yield of Transformers & Rectifiers India Ltd (TRIL)?

The Dividend Yield of Transformers & Rectifiers India Ltd (TRIL) is 0.03 %.

What is the ROCE of Transformers & Rectifiers India Ltd (TRIL)?

The ROCE of Transformers & Rectifiers India Ltd (TRIL) is 14.8 %.

What is the ROE of Transformers & Rectifiers India Ltd (TRIL)?

The ROE of Transformers & Rectifiers India Ltd (TRIL) is 9.33 %.

What is the Face Value of Transformers & Rectifiers India Ltd (TRIL)?

The Face Value of Transformers & Rectifiers India Ltd (TRIL) is 1.00.

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 Transformers & Rectifiers India Ltd (TRIL). 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