The Grob Tea Co Ltd
Incorporated in 1895, TGTCL produces black tea of crush, tear and curl (CTC) variety, which it sells in the domestic market through a mix of auction and private sales. The company was taken over by the current management – the Rawalwasia Group in May 2009.
- Market Cap ₹ 97.4 Cr.
- Current Price ₹ 838
- High / Low ₹ 1,235 / 710
- Stock P/E 11.7
- Book Value ₹ 838
- Dividend Yield 0.24 %
- ROCE 6.78 %
- ROE 5.37 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 1.00 times its book value
- Company has delivered good profit growth of 20.1% CAGR over last 5 years
Cons
- The company has delivered a poor sales growth of 4.57% over past five years.
- Earnings include an other income of Rs.3.11 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Plantation & Plantation Products Industry: Tea
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
51 | 50 | 59 | 60 | 61 | 77 | 74 | 77 | 80 | 82 | 110 | 93 | 107 | |
42 | 42 | 51 | 54 | 57 | 67 | 68 | 71 | 75 | 76 | 81 | 87 | 98 | |
Operating Profit | 10 | 8 | 7 | 6 | 4 | 10 | 6 | 5 | 4 | 6 | 30 | 6 | 9 |
OPM % | 19% | 16% | 13% | 10% | 7% | 14% | 8% | 7% | 5% | 7% | 27% | 7% | 9% |
1 | 0 | 5 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | |
Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 0 | 0 |
Depreciation | 1 | 1 | 2 | 2 | 3 | 4 | 4 | 3 | 3 | 2 | 2 | 3 | 3 |
Profit before tax | 9 | 7 | 10 | 5 | 1 | 6 | 2 | 3 | 2 | 3 | 28 | 5 | 9 |
Tax % | 14% | 24% | 12% | 16% | 34% | 24% | 10% | 29% | 23% | 42% | -0% | 17% | |
Net Profit | 8 | 5 | 8 | 4 | 1 | 5 | 2 | 2 | 1 | 2 | 28 | 4 | 8 |
EPS in Rs | 64.96 | 45.94 | 73.13 | 32.87 | 8.26 | 40.35 | 14.54 | 15.92 | 12.05 | 14.20 | 241.07 | 35.71 | 71.68 |
Dividend Payout % | 2% | 3% | 3% | 6% | 24% | 5% | 14% | 13% | 17% | 14% | 1% | 6% |
Compounded Sales Growth | |
---|---|
10 Years: | 6% |
5 Years: | 5% |
3 Years: | 5% |
TTM: | 15% |
Compounded Profit Growth | |
---|---|
10 Years: | -3% |
5 Years: | 20% |
3 Years: | 43% |
TTM: | 26% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | -12% |
3 Years: | 25% |
1 Year: | -26% |
Return on Equity | |
---|---|
10 Years: | 13% |
5 Years: | 14% |
3 Years: | 18% |
Last Year: | 5% |
Balance Sheet
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |
Reserves | 10 | 15 | 24 | 27 | 30 | 36 | 38 | 40 | 43 | 46 | 74 | 77 | 96 |
4 | 4 | 7 | 2 | 14 | 8 | 3 | 4 | 6 | 10 | 3 | 3 | 10 | |
9 | 8 | 9 | 9 | 11 | 13 | 13 | 15 | 19 | 15 | 14 | 17 | 16 | |
Total Liabilities | 24 | 28 | 41 | 40 | 57 | 58 | 55 | 61 | 69 | 72 | 93 | 99 | 124 |
15 | 18 | 34 | 33 | 45 | 42 | 40 | 37 | 35 | 33 | 34 | 34 | 34 | |
CWIP | 1 | 2 | 0 | 0 | 0 | 0 | 2 | 3 | 3 | 4 | 5 | 6 | 6 |
Investments | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 7 | 7 | 2 | 2 | 5 | 5 |
8 | 8 | 7 | 7 | 12 | 14 | 12 | 13 | 24 | 33 | 52 | 53 | 79 | |
Total Assets | 24 | 28 | 41 | 40 | 57 | 58 | 55 | 61 | 69 | 72 | 93 | 99 | 124 |
Cash Flows
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
9 | 6 | 11 | 6 | 5 | 6 | 5 | 9 | -2 | -7 | 25 | 12 | |
-3 | -5 | -15 | -0 | -12 | -2 | 1 | -10 | 1 | 5 | -17 | -11 | |
-5 | -1 | 3 | -6 | 11 | -8 | -6 | 1 | 1 | 2 | -8 | -1 | |
Net Cash Flow | -0 | -0 | -1 | -0 | 4 | -3 | -0 | -0 | 1 | -0 | -0 | 0 |
Ratios
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 5 | 5 | 6 | 2 | 4 | 4 | 3 | 7 | 21 | 13 | 9 | 7 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 5 | 5 | 6 | 2 | 4 | 4 | 3 | 7 | 21 | 13 | 9 | 7 |
Working Capital Days | -25 | -20 | -10 | -11 | -8 | 0 | 1 | -5 | 24 | 75 | 75 | 84 |
ROCE % | 69% | 43% | 24% | 17% | 6% | 15% | 6% | 7% | 5% | 8% | 42% | 7% |
Business Overview
The company has six tea gardens located in upper Assam and Cachar district. The gardens are spread over 5,676 hectares, of which around 46% is under tea cultivation. These gardens have the capacity to produce around 47 Lacs kg of premium Assam tea. Three of the company’s gardens are now Trustea certified by the Government/ Tea Board.
In FY2019, the company ventured into supply, installation and maintenance of LED lights to various Government entities/ departments.