Tata Metaliks Ltd

Tata Metaliks Ltd

₹ 1,111 1.84%
05 Feb 2024
About

Tata Metaliks incorporated in 1990 as a subsidiary of Tata Steel, is one of India’s leading producers of high-quality Pig Iron (PI) and Ductile Iron Pipes (DIP).
Co. products find use in the water infrastructure industry and partly cast into PI for use in foundries. [1]

Key Points

Business Segments FY23

  • Market Cap 3,507 Cr.
  • Current Price 1,111
  • High / Low 1,131 / 780
  • Stock P/E 30.8
  • Book Value 510
  • Dividend Yield 0.45 %
  • ROCE 7.91 %
  • ROE 5.18 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company's working capital requirements have reduced from 52.0 days to 24.2 days

Cons

  • Company has a low return on equity of 12.7% over last 3 years.
  • Dividend payout has been low at 12.0% of profits over last 3 years
  • Company's cost of borrowing seems high

* 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: Steel Industry: Steel - Medium / Small

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
520 526 661 603 645 690 808 666 877 790 926 650 755
410 400 518 450 545 622 751 642 836 751 833 615 665
Operating Profit 109 126 143 153 100 68 57 24 41 39 93 35 90
OPM % 21% 24% 22% 25% 15% 10% 7% 4% 5% 5% 10% 5% 12%
2 2 3 3 3 3 38 3 5 2 4 3 3
Interest 5 4 6 6 6 6 7 7 7 10 9 11 10
Depreciation 16 15 16 16 16 15 15 18 19 19 22 21 22
Profit before tax 90 109 124 135 81 50 73 2 20 12 67 6 62
Tax % 9% 31% 39% 30% 32% 29% 28% 29% 29% 23% 17% 26% 28%
82 75 75 95 55 36 52 1 14 9 56 5 44
EPS in Rs 25.95 23.79 23.73 29.97 17.28 11.28 16.60 0.39 4.52 3.00 17.58 1.44 13.97
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
1,133 864 1,161 1,098 1,390 1,410 1,895 2,155 2,051 1,917 2,746 3,260 3,121
1,238 876 1,067 944 1,173 1,184 1,617 1,849 1,765 1,527 2,366 3,061 2,864
Operating Profit -105 -12 94 154 217 226 277 306 285 390 379 198 257
OPM % -9% -1% 8% 14% 16% 16% 15% 14% 14% 20% 14% 6% 8%
27 -6 -20 -0 1 1 20 8 16 8 47 14 13
Interest 31 20 27 34 47 39 48 44 35 25 26 34 40
Depreciation 16 16 16 13 33 36 49 58 65 67 62 77 84
Profit before tax -125 -55 32 107 138 152 200 212 201 306 339 101 147
Tax % 28% 0% -21% 22% 19% 23% 21% 14% 18% 28% 30% 20%
-91 -55 39 84 112 116 159 182 166 220 237 81 114
EPS in Rs -35.81 -21.56 15.26 33.07 44.38 45.87 62.92 64.73 59.06 69.56 75.14 25.49 35.99
Dividend Payout % 0% 0% 0% 0% 5% 5% 5% 5% 4% 6% 11% 20%
Compounded Sales Growth
10 Years: 14%
5 Years: 11%
3 Years: 17%
TTM: 3%
Compounded Profit Growth
10 Years: 15%
5 Years: -13%
3 Years: -21%
TTM: 39%
Stock Price CAGR
10 Years: 31%
5 Years: 13%
3 Years: 0%
1 Year: 43%
Return on Equity
10 Years: %
5 Years: 16%
3 Years: 13%
Last Year: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 25 25 25 25 25 25 25 28 28 32 32 32 32
Reserves -4 -58 -20 63 74 182 333 683 835 1,268 1,494 1,548 1,580
Preference Capital 100 100 100 100 0 0 0 0 0 0 0 0
442 355 245 214 410 540 475 42 302 160 148 145 142
207 410 432 402 350 319 291 629 529 402 676 781 734
Total Liabilities 671 732 683 704 859 1,066 1,125 1,382 1,695 1,862 2,349 2,506 2,487
188 152 226 200 353 590 586 630 668 793 1,005 1,182 1,247
CWIP 26 114 3 0 88 34 24 31 98 134 233 164 190
Investments 102 99 134 134 0 0 10 0 10 0 60 100 0
355 367 320 370 419 442 505 721 918 936 1,051 1,060 1,051
Total Assets 671 732 683 704 859 1,066 1,125 1,382 1,695 1,862 2,349 2,506 2,487

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-27 154 182 79 91 77 196 375 70 281 470 92
-72 -100 -15 -21 -79 -125 -70 -87 -146 -279 -381 5
170 -125 -152 -72 -13 49 -125 -262 156 -70 -56 -68
Net Cash Flow 70 -70 16 -15 -1 0 1 25 80 -68 33 28

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 14 51 48 72 45 49 41 47 50 47 28 34
Inventory Days 46 87 35 36 68 89 67 86 117 154 102 94
Days Payable 25 127 106 126 142 95 66 132 118 102 96 88
Cash Conversion Cycle 35 12 -24 -18 -28 43 41 2 48 99 34 40
Working Capital Days 30 -21 -37 -19 -21 -24 28 15 49 93 39 24
ROCE % -18% -4% 21% 38% 41% 30% 31% 32% 25% 25% 21% 8%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
60.03% 60.03% 60.03% 60.03% 60.03% 60.03% 60.03% 60.03% 60.03% 60.03% 60.03% 60.03%
0.95% 1.94% 1.12% 1.02% 0.92% 0.91% 1.49% 1.45% 4.19% 3.53% 3.44% 3.83%
13.21% 11.57% 10.48% 10.51% 9.45% 8.96% 8.81% 8.63% 6.81% 6.72% 6.75% 6.37%
0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79%
25.02% 25.67% 27.58% 27.64% 28.80% 29.31% 28.86% 29.08% 28.18% 28.93% 28.98% 28.98%
No. of Shareholders 64,13177,9651,01,9381,10,0431,16,2081,19,9341,22,8551,17,0281,09,3741,06,0621,19,7511,12,035

* 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.

Click on the line-items to see the names of individual entities.

Documents

Concalls