Tata Metaliks Ltd

Tata Metaliks is a subsidiary of Tata Steel Limited. The Company is engaged in the manufacture and sale of pig iron and ductile iron pipes.

Pros:
Company has reduced debt.
Company is virtually debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 67.12%
Cons:
** Remarks:
Return on equity is exceptional

Peer Comparison Sector: Steel // Industry: Steel - Pig Iron

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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
323 300 401 387 451 490 546 468 547 546 594 499
277 257 326 338 384 418 459 402 462 472 513 454
Operating Profit 46 43 75 50 67 72 88 66 85 74 81 45
OPM % 14% 14% 19% 13% 15% 15% 16% 14% 16% 14% 14% 9%
Other Income 0 0 1 11 0 0 9 1 1 1 3 4
Interest 8 9 11 9 10 10 18 11 10 11 12 7
Depreciation 8 8 12 12 12 12 13 15 13 14 15 14
Profit before tax 29 25 52 39 45 50 66 41 63 51 57 27
Tax % 26% 23% 22% 22% 25% 19% 17% 27% 25% 22% -14% 28%
Net Profit 22 20 40 31 34 40 55 30 48 40 64 20
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

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
681 1,032 1,003 1,044 1,318 1,133 864 1,161 1,098 1,390 1,410 1,894 2,187
626 910 1,137 965 1,254 1,238 876 1,067 944 1,173 1,184 1,616 1,901
Operating Profit 55 122 -134 79 65 -105 -12 94 154 217 226 278 285
OPM % 8% 12% -13% 8% 5% -9% -1% 8% 14% 16% 16% 15% 13%
Other Income 14 22 23 29 12 27 -6 -20 -0 1 1 19 10
Interest 14 21 38 40 31 31 20 27 34 47 39 48 40
Depreciation 13 16 16 16 17 16 16 16 13 33 36 49 57
Profit before tax 42 106 -165 51 29 -125 -55 32 107 138 152 200 198
Tax % 30% 34% 10% 10% 20% 28% -0% -21% 22% 19% 23% 21%
Net Profit 30 70 -149 46 23 -91 -55 39 84 112 116 159 171
EPS in Rs 10.65 26.34 0.00 18.01 9.07 0.00 0.00 15.27 33.08 44.40 45.89 62.95
Dividend Payout % 51% 25% -0% 0% 0% -0% -0% 0% 0% 5% 5% 5%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:6.27%
5 Years:16.99%
3 Years:19.95%
TTM:11.88%
Compounded Profit Growth
10 Years:8.32%
5 Years:%
3 Years:23.42%
TTM:7.67%
Return on Equity
10 Years:24.75%
5 Years:65.61%
3 Years:67.12%
Last Year:56.52%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
25 25 25 25 25 125 125 125 125 25 25 25 28
Reserves 117 167 18 64 87 -4 -58 -20 63 74 182 333 739
Borrowings 115 111 392 209 342 442 355 245 214 410 540 475 39
194 288 102 339 235 207 431 432 402 350 373 366 577
Total Liabilities 452 592 538 638 689 671 753 683 704 859 1,119 1,200 1,382
226 243 233 220 204 188 152 226 200 353 590 586 630
CWIP 35 5 6 4 5 26 114 3 0 88 34 24 31
Investments 4 8 38 47 74 102 99 134 134 0 0 10 0
187 336 261 366 405 355 388 320 370 419 496 580 721
Total Assets 452 592 538 638 689 671 753 683 704 859 1,119 1,200 1,382

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
54 53 -198 234 -64 -27 154 182 79 91 77 196
-47 -8 -33 -14 -53 -72 -100 -15 -21 -79 -125 -70
-9 -40 230 -220 110 170 -125 -152 -72 -13 49 -125
Net Cash Flow -3 5 -1 0 -7 70 -70 16 -15 -1 0 1

Ratios Standalone Figures in Rs. Crores / View Consolidated

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 % 24% 47% -34% 25% 16% -18% -4% 21% 38% 41% 30% 32%
Debtor Days 25 27 23 20 26 14 51 48 72 45 49 41
Inventory Turnover 5.76 6.68 5.87 5.37 5.51 6.09 5.68 9.30 14.22 14.46 10.06 10.56