Tata Investment Corporation Ltd

Tata Investment Corporation is engaged in the business of Investment Company.

Pros:
Company is virtually debt free.
Stock is trading at 0.50 times its book value
Company has been maintaining a healthy dividend payout of 68.19%
Cons:
The company has delivered a poor growth of -3.83% over past five years.
Tax rate seems low
Company has a low return on equity of 3.04% for last 3 years.
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Finance // Industry: Finance & Investments

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
156 32 36 25 82 28 25 31 101 25 25 25
5 4 18 4 7 3 7 5 6 4 4 4
Operating Profit 151 28 18 21 76 25 19 26 95 21 21 22
OPM % 97% 87% 50% 82% 92% 88% 74% 85% 94% 83% 83% 85%
Other Income 0 0 0 0 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 151 28 18 21 76 25 19 26 95 21 21 22
Tax % 14% 21% 11% 14% 5% 21% 19% 15% 4% 19% 9% 9%
Net Profit 130 22 16 18 72 20 15 22 91 17 19 19
EPS in Rs 23.60 4.06 2.93 3.26 13.11 3.57 2.73 4.08 16.57 3.04 3.44 3.85
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
210 212 230 244 202 206 221 231 252 271 161 182 176
8 10 10 12 16 14 15 15 18 31 19 21 18
Operating Profit 202 202 220 232 186 192 206 216 234 240 142 161 158
OPM % 96% 95% 96% 95% 92% 93% 93% 93% 93% 89% 88% 88% 90%
Other Income 0 1 3 4 0 0 2 0 0 0 0 0 0
Interest 0 0 0 1 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 1 0 0 0 0 0 0 0 0 0
Profit before tax 202 203 223 234 186 192 208 216 234 240 142 161 158
Tax % 8% 8% 13% 15% 13% 13% 14% 14% 14% 16% 11% 8%
Net Profit 186 186 194 199 162 167 179 187 203 202 127 148 146
EPS in Rs 51.38 51.51 38.01 38.51 25.92 27.62 29.54 30.39 33.31 36.73 22.99 29.18 26.90
Dividend Payout % 28% 28% 37% 39% 72% 53% 52% 50% 46% 49% 87% 69%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:-1.54%
5 Years:-3.83%
3 Years:-10.31%
TTM:5.32%
Compounded Profit Growth
10 Years:-2.30%
5 Years:-3.74%
3 Years:-10.01%
TTM:13.02%
Return on Equity
10 Years:6.19%
5 Years:4.34%
3 Years:3.04%
Last Year:1.85%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
34 34 48 48 55 55 55 55 55 55 55 51
Reserves 811 911 1,482 1,591 1,866 1,923 2,010 2,094 2,181 2,390 8,127 7,770
Borrowings 0 448 0 0 0 0 0 0 0 0 0 0
66 67 8 9 145 116 122 124 13 18 1,556 1,547
Total Liabilities 912 1,460 1,538 1,649 2,066 2,094 2,188 2,273 2,249 2,462 9,738 9,367
0 0 0 1 0 0 0 0 0 0 0 0
CWIP 0 0 1 0 0 0 0 0 0 0 0 0
Investments 888 1,219 1,306 1,291 1,808 1,942 2,142 2,232 2,197 2,420 9,702 9,341
23 241 232 357 258 152 46 41 51 42 35 26
Total Assets 912 1,460 1,538 1,649 2,066 2,094 2,188 2,273 2,249 2,462 9,738 9,367

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
23 46 45 46 77 104 83 93 90 69 68
31 -225 56 65 -389 -70 -46 17 145 -79 41
-61 384 -133 -90 274 -134 -103 -110 -225 -1 -119
Net Cash Flow -7 205 -31 21 -38 -101 -66 1 11 -11 -10

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 26% 18% 15% 15% 10% 10% 10% 10% 11% 10% 3% 2%
Debtor Days 0 6 0 10 0 0 3 1 0 0 32 0
Inventory Turnover