Tata Coffee Ltd

Tata Coffee Ltd

₹ 345 3.54%
12 Jan 2024
About

Tata Coffee Ltd is primarily engaged in the production, trading and distribution of Coffee and Tea and Allied products. The group has operations in India, USA, CIS countries, Europe, Africa and Vietnam.[1]
It is Asia's largest integrated coffee company, the second largest exporter of Instant Coffee and foremost producer of Specialty coffee in India.[2]
The promoter of the company is Tata Consumer Products Ltd which holds 57.48% shares of TCL.[3]

Key Points

Estates
The company owns and operates 25 estates in South India out of which 18 are coffee estates, 6 are tea estates and 1 is a mix estate is a mix of coffee and tea plantations. In total, the company has ~8,000 hectares of estates in South India.
All of its estates are certified through 3 agencies i.e. UTZ, Rainforest Alliance and SA 8000 for commitment to people and environment.[1]
The company produces 8,000 to 10,000 tonnes of shade grown Arabica and Robusta coffee from its plantations p.a.[2]

  • Market Cap 6,440 Cr.
  • Current Price 345
  • High / Low 347 / 236
  • Stock P/E 35.8
  • Book Value 99.3
  • Dividend Yield 0.87 %
  • ROCE 9.78 %
  • ROE 10.1 %
  • Face Value 1.00

Pros

  • Company has been maintaining a healthy dividend payout of 22.5%
  • Debtor days have improved from 35.6 to 27.2 days.

Cons

  • Stock is trading at 3.47 times its book value
  • Company has a low return on equity of 9.85% over last 3 years.
  • Company might be capitalizing the interest cost

* 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023
543 533 591 533 549 626 656 662 718 747 723 701 696
455 436 497 442 446 510 545 546 636 654 617 583 594
Operating Profit 89 96 94 90 102 116 111 117 82 93 106 117 102
OPM % 16% 18% 16% 17% 19% 18% 17% 18% 11% 12% 15% 17% 15%
3 5 18 4 3 7 5 3 141 7 13 7 23
Interest 13 13 12 12 14 10 10 12 15 21 20 21 21
Depreciation 21 21 20 20 21 20 20 20 21 22 23 22 22
Profit before tax 58 68 79 63 70 92 86 88 187 57 76 82 82
Tax % 27% 26% 28% 27% 24% 24% 26% 25% 21% 33% 7% 24% 22%
42 50 57 46 54 69 64 65 147 38 70 62 64
EPS in Rs 1.24 1.69 2.30 1.53 1.82 2.37 2.18 2.41 7.62 1.43 2.61 2.54 3.04
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,549 1,697 1,677 1,693 1,551 1,606 1,567 1,804 1,966 2,255 2,364 2,850 2,866
1,357 1,381 1,365 1,351 1,268 1,215 1,303 1,561 1,645 1,865 1,944 2,452 2,448
Operating Profit 192 317 312 342 283 391 264 243 321 390 420 398 418
OPM % 12% 19% 19% 20% 18% 24% 17% 13% 16% 17% 18% 14% 15%
-9 -2 -90 15 13 20 11 29 25 31 19 164 51
Interest 46 53 37 39 37 37 35 46 65 54 46 68 83
Depreciation 37 40 49 52 53 57 55 57 81 83 81 86 89
Profit before tax 100 222 136 266 206 318 186 170 200 284 311 408 297
Tax % 16% 29% 24% 36% 39% 34% -1% 37% 30% 26% 25% 21%
84 150 80 170 125 210 187 107 141 212 233 321 234
EPS in Rs 4.34 6.22 4.36 6.44 4.42 8.09 5.71 3.68 4.41 7.15 7.91 14.07 9.62
Dividend Payout % 25% 20% 30% 20% 29% 22% 26% 41% 34% 21% 25% 21%
Compounded Sales Growth
10 Years: 5%
5 Years: 13%
3 Years: 13%
TTM: 8%
Compounded Profit Growth
10 Years: 3%
5 Years: 10%
3 Years: 30%
TTM: 4%
Stock Price CAGR
10 Years: 14%
5 Years: 33%
3 Years: 24%
1 Year: 39%
Return on Equity
10 Years: 11%
5 Years: 8%
3 Years: 10%
Last Year: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 19 19 19 19 19 19 19 19 19 19 19 19 19
Reserves 494 604 674 778 913 1,038 1,104 1,162 1,236 1,351 1,500 1,775 1,836
738 915 973 902 896 780 990 1,155 1,326 1,249 1,109 1,115 1,058
590 611 632 716 722 805 798 854 983 952 1,061 1,151 1,120
Total Liabilities 1,840 2,149 2,297 2,414 2,550 2,642 2,910 3,189 3,564 3,571 3,689 4,059 4,033
1,345 1,407 1,588 1,664 1,772 1,799 1,802 1,915 2,511 2,384 2,394 2,543 2,548
CWIP 8 67 29 19 9 37 110 391 61 47 74 59 64
Investments 5 118 5 76 76 109 42 95 109 36 41 95 54
483 557 675 655 693 697 955 787 882 1,104 1,180 1,362 1,367
Total Assets 1,840 2,149 2,297 2,414 2,550 2,642 2,910 3,189 3,564 3,571 3,689 4,059 4,033

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
193 205 199 238 236 327 124 145 261 302 143 293
-28 -208 -57 -75 -80 -127 -188 -168 -27 -29 -4 -10
-155 28 -112 -206 -144 -210 102 -9 -174 -141 -297 -233
Net Cash Flow 11 24 31 -43 12 -10 38 -33 59 132 -158 50

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 25 27 21 32 39 36 45 35 45 35 45 27
Inventory Days 116 135 189 193 171 182 162 165 175 154 203 178
Days Payable 59 38 40 70 55 61 59 50 65 46 61 69
Cash Conversion Cycle 83 124 170 154 155 157 148 149 155 142 188 136
Working Capital Days 23 45 66 60 83 75 81 63 57 76 94 72
ROCE % 12% 18% 15% 16% 12% 16% 10% 8% 9% 10% 11% 10%

Shareholding Pattern

Numbers in percentages

Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
57.48% 57.48% 57.48% 57.48% 57.48% 57.48% 57.48% 57.48% 57.48% 57.48% 57.48% 57.48%
0.05% 0.10% 0.09% 0.29% 0.42% 0.71% 1.78% 2.04% 2.69% 3.10% 4.49% 4.58%
6.21% 5.97% 5.16% 4.86% 4.38% 4.30% 4.84% 5.29% 5.59% 5.61% 5.61% 5.33%
36.25% 36.45% 37.26% 37.37% 37.71% 37.51% 35.90% 35.17% 34.22% 33.81% 32.41% 32.58%
No. of Shareholders 1,20,6471,29,5461,68,5372,17,6432,63,5692,73,5302,69,1772,60,7672,43,5582,39,5412,23,9822,18,930

* 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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