TCNS Clothing Co. Ltd

About [ edit ]

TCNS Clothing Co. Ltd, incorporated in 1997 is a leading exclusive women’s ethnic/fusion apparel company providing fashion in a modern retail environment. It combines fashion and functionality according to the needs of contemporary Indian women need. #

Key Points [ edit ]
  • Market Cap 3,601 Cr.
  • Current Price 585
  • High / Low 652 / 325
  • Stock P/E
  • Book Value 99.5
  • Dividend Yield 0.00 %
  • ROCE -4.12 %
  • ROE -8.86 %
  • Face Value 2.00

Pros

Cons

  • Stock is trading at 5.88 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 5.54% over past five years.
  • Promoter holding is low: 32.31%
  • Company has a low return on equity of 8.01% for last 3 years.
  • Earnings include an other income of Rs.48.99 Cr.
  • Debtor days have increased from 69.31 to 94.67 days.

Peer comparison

Sector: Textiles Industry: Textiles - Products

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Quarterly Results

Figures in Rs. Crores

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
236.60 320.50 300.20 290.66 279.63 320.85 328.99 219.21 32.42 144.14 237.90 221.09
207.42 263.51 249.53 250.69 221.50 255.78 261.13 224.01 75.11 160.40 199.45 198.16
Operating Profit 29.18 56.99 50.67 39.97 58.13 65.07 67.86 -4.80 -42.69 -16.26 38.45 22.93
OPM % 12.33% 17.78% 16.88% 13.75% 20.79% 20.28% 20.63% -2.19% -131.68% -11.28% 16.16% 10.37%
Other Income 1.83 1.93 2.12 1.65 2.23 2.65 7.16 9.11 16.59 9.37 4.93 18.11
Interest 0.06 0.07 0.05 0.33 9.23 9.56 9.89 9.51 9.14 8.86 7.04 11.42
Depreciation 5.09 5.28 5.50 6.34 23.22 23.82 24.84 31.28 25.19 22.36 19.42 24.94
Profit before tax 25.86 53.57 47.24 34.95 27.91 34.34 40.29 -36.48 -60.43 -38.11 16.92 4.68
Tax % 20.88% 23.05% 21.51% 6.49% 26.66% 48.51% -36.58% 34.81% 25.00% 27.63% 25.18% 17.52%
Net Profit 20.46 41.23 37.07 32.68 20.47 17.69 55.03 -23.77 -45.33 -27.59 12.66 3.87
EPS in Rs 3.34 6.72 6.05 5.33 3.33 2.88 8.95 -3.87 -7.37 -4.49 2.06 0.63

Profit & Loss

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
71 112 127 147 485 701 997 1,148 1,149 636
65 102 110 133 489 623 841 971 962 633
Operating Profit 6 9 17 14 -3 78 156 177 186 2
OPM % 8% 8% 13% 9% -1% 11% 16% 15% 16% 0%
Other Income 0 0 0 0 1 0 6 8 21 49
Interest 0 0 0 0 3 2 1 1 38 36
Depreciation 2 2 3 3 9 13 17 22 103 92
Profit before tax 4 7 14 11 -14 62 145 162 66 -77
Tax % 18% 36% 34% 36% -204% 75% 32% 19% -5% 27%
Net Profit 3 5 9 7 -42 16 98 131 69 -56
EPS in Rs 4.33 5.39 1.01 0.75 -4.52 1.42 17.40 21.43 11.29 -9.16
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:19%
5 Years:6%
3 Years:-14%
TTM:-45%
Compounded Profit Growth
10 Years:%
5 Years:-7%
3 Years:%
TTM:-182%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:-5%
1 Year:77%
Return on Equity
10 Years:%
5 Years:11%
3 Years:8%
Last Year:-9%

Balance Sheet

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
8 9 10 10 9 11 11 12 12 12
Reserves 7 12 61 68 39 271 396 606 648 600
Borrowings 28 33 26 31 38 9 0 0 362 330
14 32 29 31 222 135 189 167 176 132
Total Liabilities 57 86 125 139 309 426 597 786 1,198 1,074
5 5 7 9 39 47 52 59 352 301
CWIP 0 0 0 0 0 3 8 0 2 1
Investments 0 0 0 0 1 2 2 138 118 172
52 81 118 130 268 374 535 589 726 600
Total Assets 57 86 125 139 309 426 597 786 1,198 1,074

Cash Flows

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-7 -1 -18 5 41 90 131 113
-1 -2 -5 -5 -28 -143 -3 -56
9 4 29 -1 21 38 -97 -96
Net Cash Flow 1 1 6 -0 35 -15 31 -38

Ratios

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 15% 19% 10% 35% 42% 31% 13% -4%
Debtor Days 93 88 133 144 48 52 57 57 56 95
Inventory Turnover 0.00 0.00 0.00 0.83 1.67 1.60 1.36 0.90

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
32.42 32.42 32.41 32.38 32.34 32.34 32.33 32.33 32.33 32.31 32.31 32.31
10.58 11.96 11.99 12.83 12.74 12.67 12.23 13.81 16.37 17.00 19.52 17.84
39.35 37.86 8.97 8.55 10.10 10.27 10.63 10.37 7.55 7.07 4.36 5.91
17.66 17.76 46.62 46.23 44.82 44.72 44.80 43.48 43.75 43.62 43.81 43.94

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