Tanfac Industries Ltd

Tanfac Industries is engaged in business of Aluminium Fluoride, AHF Acid And Sulphuric Acid and Speciality Chemicals.

Pros:
Company is expected to give good quarter
Company has a good return on equity (ROE) track record: 3 Years ROE 56.75%
Cons:
Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor growth of 2.13% over past five years.
Tax rate seems low
** Remarks:
Some businesses are provided tax benefits to encourage their development
Return on equity is exceptional

Peer Comparison Sector: Chemicals // Industry: Chemicals

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Quarterly Results Figures in Rs. Crores

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
34.61 33.94 32.96 29.70 27.45 35.62 40.27 38.67 47.75 55.77 54.92 57.09
31.31 28.55 27.57 29.03 25.10 30.67 35.11 33.40 43.02 40.42 41.26 45.05
Operating Profit 3.30 5.39 5.39 0.67 2.35 4.95 5.16 5.27 4.73 15.35 13.66 12.04
OPM % 9.53% 15.88% 16.35% 2.26% 8.56% 13.90% 12.81% 13.63% 9.91% 27.52% 24.87% 21.09%
Other Income 0.35 0.00 0.40 0.06 0.28 0.01 0.01 0.39 0.15 0.01 0.08 0.00
Interest 1.46 1.99 1.61 1.53 1.46 1.46 1.61 1.54 1.37 1.09 0.83 0.55
Depreciation 1.20 1.18 1.20 1.19 1.16 1.18 1.38 1.20 1.19 1.19 1.21 1.18
Profit before tax 0.99 2.22 2.98 -1.99 0.01 2.32 2.18 2.92 2.32 13.08 11.70 10.31
Tax % 0.00% 0.00% 0.00% -0.00% 0.00% 0.00% 0.00% 3.08% 0.86% 0.00% 0.00% 23.57%
Net Profit 1.00 2.22 2.98 -2.00 0.00 2.33 2.19 2.82 2.30 13.08 11.70 7.88
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
123.04 164.55 216.69 147.90 153.83 147.74 145.71 117.20 119.92 133.32 126.39 161.88 215.53
110.60 144.13 206.83 147.52 138.77 148.25 144.24 105.99 111.96 124.56 111.90 140.87 169.75
Operating Profit 12.44 20.42 9.86 0.38 15.06 -0.51 1.47 11.21 7.96 8.76 14.49 21.01 45.78
OPM % 10.11% 12.41% 4.55% 0.26% 9.79% -0.35% 1.01% 9.56% 6.64% 6.57% 11.46% 12.98% 21.24%
Other Income 1.66 2.38 4.14 2.19 1.55 -3.91 5.55 0.35 0.76 4.08 0.74 0.33 0.24
Interest 3.30 3.57 8.48 8.79 8.93 10.05 11.94 10.15 9.70 7.69 7.20 6.60 3.84
Depreciation 2.69 2.74 3.97 5.23 5.37 7.09 10.47 6.93 5.63 4.77 4.73 4.94 4.77
Profit before tax 8.11 16.49 1.55 -11.45 2.31 -21.56 -15.39 -5.52 -6.61 0.38 3.30 9.80 37.41
Tax % 17.26% 25.77% 48.39% 14.59% -29.44% -11.78% 26.25% 44.93% 19.97% -7.89% 0.00% 1.22%
Net Profit 6.71 12.24 0.80 -9.78 2.99 -24.10 -11.35 -3.03 -5.29 0.40 3.29 9.68 34.96
EPS in Rs 6.47 11.97 0.63 0.00 2.92 0.00 0.00 0.00 0.00 0.40 3.30 9.70
Dividend Payout % 22.31% 14.27% 124.75% -0.00% 16.69% -0.00% -0.00% -0.00% -0.00% 0.00% 0.00% 0.00%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:-0.16%
5 Years:2.13%
3 Years:10.52%
TTM:51.77%
Compounded Profit Growth
10 Years:-2.62%
5 Years:%
3 Years:%
TTM:376.29%
Return on Equity
10 Years:-20.16%
5 Years:2.90%
3 Years:56.75%
Last Year:121.76%

Balance Sheet Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
9.98 9.98 9.98 9.98 9.98 9.98 9.98 9.98 14.98 14.98 9.98 9.98 9.98
Reserves 31.48 41.67 41.30 31.52 33.93 9.83 -1.51 -4.55 -10.32 -9.92 -6.72 2.66 27.19
Borrowings 26.47 16.05 94.00 76.30 63.70 93.26 78.85 69.59 64.27 56.00 53.90 43.45 16.55
23.40 44.51 41.42 35.07 37.38 32.30 26.17 39.03 39.71 43.67 19.96 27.42 38.85
Total Liabilities 91.33 112.21 186.70 152.87 144.99 145.37 113.49 114.05 103.64 99.73 77.12 83.51 92.57
39.34 39.16 68.47 63.61 76.90 74.08 64.89 59.22 52.90 49.14 44.74 40.90 38.90
CWIP 0.13 2.29 7.68 15.12 0.24 0.08 0.00 0.00 0.00 0.00 0.48 0.19 0.83
Investments 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.75 0.75 0.86
51.69 70.59 110.38 73.97 67.68 71.04 48.43 54.66 50.57 50.42 31.15 41.67 51.98
Total Assets 91.33 112.21 186.70 152.87 144.99 145.37 113.49 114.05 103.64 99.73 77.12 83.51 92.57

Cash Flows Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
8.81 19.88 -40.50 27.12 27.89 -17.02 26.10 19.01 9.21 16.05 15.91 17.38
-2.00 -4.68 -38.36 -7.80 -4.47 -2.94 -0.16 -0.15 0.00 -0.97 -0.83 -0.71
-6.82 -12.17 75.90 -18.86 -23.71 20.44 -25.96 -18.97 -9.62 -15.40 -14.81 -16.98
Net Cash Flow -0.01 3.03 -2.96 0.46 -0.29 0.48 -0.02 -0.11 -0.42 -0.33 0.27 -0.32

Ratios

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 16.76% 30.32% 9.20% -2.02% 10.01% -6.43% -10.07% 5.72% 3.63% 6.65% 17.78% 28.96%
Debtor Days 49.54 50.86 38.67 48.54 46.36 53.59 38.40 56.46 51.68 54.48 46.06 44.17
Inventory Turnover 4.81 5.29 4.30 3.07 5.67 4.83 5.26 5.40 5.24 6.83 8.80 11.67