Tube Investments of India Ltd

Tube Investments Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Tube Investments of India Ltd

₹ 2,551 2.88%
24 Mar - close price
tiindia.com BSE: 540762 NSE : TIINDIA
About

Tube Investments of India Limited (TII) is one of India’s leading manufacturers of a wide range of products for major industries such as Automotive, Railway, Construction, Mining, Agriculture, etc. The Company’s 3 main verticals are Engineering, Metal Formed Products and Bicycles. In line with its growth strategies, the Company has forayed into TMT bars and Truck Body Building business and is additionally exploring opportunities in optic lens and other vision systems for the Auto industry. [1]

Key Points

Engineering Division (~29% in FY22 v/s 44% in FY20) [1] [2]
The Engineering Segment of the Company consists of cold rolled steel strips and precision steel tubes viz., Cold Drawn Welded tubes (CDW) and Electric Resistance Welded tubes (ERW). It is also engaged in the manufacture of large diameter welded tubes mainly for non-auto applications which are largely imported. [3] It is the market leader and preferred Indian supplier in CDW Tubes. [4]

Website BSE NSE
  • Market Cap ₹ 49,273 Cr.
  • Current Price ₹ 2,551
  • High / Low ₹ 3,046 / 1,458
  • Stock P/E 61.0
  • Book Value ₹ 178
  • Dividend Yield 0.14 %
  • ROCE 29.4 %
  • ROE 28.1 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 37.2% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 18.3%

Cons

  • Stock is trading at 14.3 times its book value
  • 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: Auto Ancillaries Industry: Auto Ancillaries

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
1,087 1,031 457 1,193 1,700 2,733 2,437 3,263 3,410 3,415 3,799 3,789 3,666
955 904 491 1,018 1,480 2,456 2,157 2,883 2,969 3,059 3,396 3,273 3,197
Operating Profit 132 127 -34 175 221 277 281 380 441 356 403 516 469
OPM % 12% 12% -7% 15% 13% 10% 12% 12% 13% 10% 11% 14% 13%
20 -4 -1 10 5 12 25 26 46 32 24 6 99
Interest 7 6 6 5 14 25 24 21 22 20 9 11 11
Depreciation 45 51 45 44 64 97 97 91 91 77 86 94 96
Profit before tax 99 67 -85 136 148 166 185 294 374 292 332 417 461
Tax % 18% 11% 23% 25% 27% 14% 27% 21% -4% 23% 26% 34% 30%
Net Profit 82 60 -65 101 107 143 135 232 390 225 247 277 325
EPS in Rs 4.26 3.16 -3.41 5.28 5.44 7.01 6.22 9.65 14.46 9.27 10.08 11.08 12.21
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
0 4,479 5,000 5,773 4,750 6,083 12,525 14,669
0 4,073 4,626 5,240 4,169 5,443 11,077 12,925
Operating Profit 0 406 374 533 582 641 1,449 1,743
OPM % 9% 7% 9% 12% 11% 12% 12%
0 41 55 62 40 26 127 161
Interest 0 77 62 56 34 52 75 50
Depreciation 0 149 154 162 185 251 349 352
Profit before tax 0 221 214 378 403 365 1,152 1,502
Tax % 21% 27% 34% 22% 22% 14%
Net Profit 0 174 156 251 313 286 991 1,074
EPS in Rs 7.86 12.81 16.31 14.28 39.85 42.64
Dividend Payout % 0% 17% 20% 21% 25% 9%
Compounded Sales Growth
10 Years: %
5 Years: 23%
3 Years: 29%
TTM: 24%
Compounded Profit Growth
10 Years: %
5 Years: 37%
3 Years: 47%
TTM: 12%
Stock Price CAGR
10 Years: %
5 Years: 62%
3 Years: 105%
1 Year: 60%
Return on Equity
10 Years: %
5 Years: 20%
3 Years: 22%
Last Year: 28%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
0 19 19 19 19 19 19 19
Reserves -0 1,169 1,254 1,457 1,715 2,293 3,052 3,426
0 851 776 611 414 1,972 871 912
0 1,097 1,263 1,263 932 4,349 4,939 5,377
Total Liabilities 0 3,135 3,312 3,349 3,080 8,634 8,881 9,734
0 1,306 1,358 1,429 1,515 3,426 3,324 3,408
CWIP 0 34 90 69 58 152 128 127
Investments 0 202 134 132 186 369 542 351
0 1,593 1,730 1,719 1,321 4,687 4,887 5,848
Total Assets 0 3,135 3,312 3,349 3,080 8,634 8,881 9,734

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-0 383 409 493 596 257 877
0 316 -181 -196 -246 -80 -79
0 -685 -291 -280 -284 304 -899
Net Cash Flow 0 14 -63 17 66 481 -101

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 50 51 41 40 74 52
Inventory Days 101 93 84 75 111 58
Days Payable 107 117 96 94 224 103
Cash Conversion Cycle 44 26 29 22 -38 7
Working Capital Days 33 18 21 18 -28 -16
ROCE % 28% 14% 21% 21% 14% 29%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
47.89 47.89 47.87 46.68 46.66 46.66 46.49 46.48 46.46 46.45 46.45 46.44
17.81 18.20 19.40 23.22 25.45 25.82 25.21 26.09 26.06 25.90 26.30 28.82
20.20 20.55 19.85 17.04 15.02 14.82 15.68 14.95 14.34 14.70 14.06 11.76
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.45 0.45
14.10 13.37 12.88 13.06 12.87 12.70 12.61 12.48 13.13 12.95 12.74 12.55

* 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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