Tanfac Industries Ltd

₹ 1,013 -3.71%
02 Feb 2:17 p.m.
tanfac.com BSE: 506854
About

Incorporated in 1972, Tanfac Industries Ltd is a joint sector company promoted by Aditya Birla Group, which holds 25% stake in the company, and Tamil Nadu Industrial Development Corporation (TIDCO). The company began commercial production in March 1985 and is amongst the leading producers of Hydrofluoric Acid and its derivatives.

Key Points

Product Portfolio:[1]
Tanfac is engaged in the manufacture of inorganic fluorine based chemicals like Anhydrous Hydrofluoric acid, Sulphuric Acid, Oleum, Aluminum Fluoride, Potassium Fluoride, Potassium Bifluoride, Boron Trifluoride Complexes, Calcium Sulphate (Gypsum), IsoButyl Acetophenone, Acetic Acid, Peracetic Acid and Poly Aluminum Chloride, etc.

Website BSE
  • Market Cap ₹ 1,011 Cr.
  • Current Price ₹ 1,013
  • High / Low ₹ 1,245 / 434
  • Stock P/E 24.8
  • Book Value ₹ 146
  • Dividend Yield 0.87 %
  • ROCE 67.1 %
  • ROE 48.3 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 35.8%
  • Debtor days have improved from 35.9 to 28.4 days.
  • Company's working capital requirements have reduced from 45.1 days to 33.4 days

Cons

  • Stock is trading at 7.01 times its book value

* 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: Chemicals Industry: Chemicals

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Quarterly Results

Figures in Rs. Crores

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
38 32 28 34 47 39 90 73 90 67 83 77 99
32 29 23 26 29 38 61 58 69 57 70 65 76
Operating Profit 6 4 5 9 18 1 29 15 21 10 14 13 22
OPM % 15% 11% 18% 25% 38% 2% 32% 21% 24% 15% 16% 17% 23%
1 0 0 0 0 1 1 0 1 1 0 0 1
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 2 4 2 1 2 1 1 1 2 2
Profit before tax 5 3 4 7 14 0 29 14 20 9 12 12 22
Tax % 25% -39% 36% 30% 28% 175% 26% 26% 27% 24% 27% 26% 25%
Net Profit 4 4 3 5 10 -0 21 10 15 7 9 9 16
EPS in Rs 3.86 3.66 2.59 4.75 10.23 -0.06 21.29 10.05 15.01 7.08 9.00 8.54 16.29
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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
154 148 146 117 120 133 126 162 222 165 148 320 327
139 153 144 106 112 125 112 141 169 138 115 244 268
Operating Profit 15 -5 2 11 8 9 14 21 53 27 33 76 59
OPM % 10% -3% 1% 10% 7% 7% 11% 13% 24% 16% 22% 24% 18%
2 0 5 0 1 4 1 0 1 1 1 3 3
Interest 9 10 12 10 10 8 7 7 4 2 1 2 1
Depreciation 5 7 10 7 6 5 5 5 8 5 8 6 6
Profit before tax 2 -22 -15 -6 -7 0 3 10 42 22 25 72 55
Tax % -29% -12% 26% 45% 20% -8% 0% 1% 14% 22% 30% 26%
Net Profit 3 -24 -11 -3 -5 0 3 10 36 17 17 53 41
EPS in Rs 3.00 -24.16 -11.38 -3.04 -5.30 0.40 3.30 9.70 36.06 17.01 17.51 53.41 40.91
Dividend Payout % 17% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 17%
Compounded Sales Growth
10 Years: 8%
5 Years: 20%
3 Years: 13%
TTM: 12%
Compounded Profit Growth
10 Years: 16%
5 Years: 74%
3 Years: 13%
TTM: -12%
Stock Price CAGR
10 Years: 52%
5 Years: 57%
3 Years: 105%
1 Year: 60%
Return on Equity
10 Years: 32%
5 Years: 46%
3 Years: 36%
Last Year: 48%

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
10 10 10 10 15 15 10 17 16 10 10 10 10
Reserves 34 10 -2 -5 -10 -10 -7 3 38 55 73 124 136
64 93 79 70 64 56 54 37 6 0 0 0 0
31 28 20 31 31 35 20 36 53 24 37 49 46
Total Liabilities 139 142 107 106 95 91 77 86 107 89 120 182 191
77 74 65 59 53 49 45 41 34 33 40 40 48
CWIP 0 0 0 0 0 0 0 0 1 6 3 12 8
Investments 0 0 0 0 0 0 1 1 1 1 23 42 48
62 67 42 46 42 42 31 44 71 49 55 88 89
Total Assets 139 142 107 106 95 91 77 86 107 89 120 182 191

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
28 -17 26 19 9 16 16 17 37 22 37 45
-4 -3 -0 -0 0 -1 -1 -1 -3 -9 -34 -36
-24 20 -26 -19 -10 -15 -15 -17 -34 -12 -1 -5
Net Cash Flow -0 0 -0 -0 -0 -0 0 -0 0 -0 2 5

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 46 54 38 56 52 54 46 44 38 40 40 28
Inventory Days 99 135 68 136 106 82 66 75 107 75 134 91
Days Payable 92 59 36 113 89 97 69 74 90 47 142 76
Cash Conversion Cycle 54 129 70 80 68 39 42 45 54 67 31 43
Working Capital Days 60 94 53 38 40 30 29 30 46 66 36 33
ROCE % 10% -6% -10% 6% 4% 7% 18% 29% 78% 37% 35% 67%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
50.98 50.98 50.98 50.98 50.98 50.98 50.98 50.98 50.98 51.81 51.82 51.82
0.00 0.00 0.00 0.00 0.00 0.00 0.19 0.00 0.00 0.00 0.00 0.00
0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.07 0.06 0.07 0.07
48.96 48.96 48.96 48.96 48.96 48.96 48.78 48.96 48.96 48.13 48.13 48.13

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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