Tijaria Polypipes Ltd

Tijaria Polypipes Limited is engaged in manufacturing and selling of mink blankets, high-density polyethylene (HDPE)/polyvinyl chloride (PVC) pipe, sprinkle system and conduit pipe, among others.

Pros:
Company has reduced debt.
Stock is trading at 0.96 times its book value
Promoter holding has increased by 2.50% over last quarter.
Cons:
Company has low interest coverage ratio.
Company has a low return on equity of -43.28% for last 3 years.
Promoters have pledged 38.05% of their holding.

Peer Comparison Sector: Plastic products // Industry: Plastics Products

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Quarterly Results Figures in Rs. Crores

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
15.11 19.22 15.73 13.01 22.75 24.82 36.09 46.10 41.92 25.42 21.92 17.56
17.06 18.26 23.59 13.99 22.69 25.04 31.27 40.66 37.03 20.94 18.31 15.08
Operating Profit -1.95 0.96 -7.86 -0.98 0.06 -0.22 4.82 5.44 4.89 4.48 3.61 2.48
OPM % -12.91% 4.99% -49.97% -7.53% 0.26% -0.89% 13.36% 11.80% 11.67% 17.62% 16.47% 14.12%
Other Income 0.12 0.02 0.04 0.09 -0.62 0.82 0.63 0.01 0.06 0.13 0.12 0.06
Interest 1.16 1.77 2.14 1.79 1.80 1.78 2.31 1.86 1.81 1.96 2.02 1.15
Depreciation 2.46 2.46 2.07 2.10 2.09 1.96 1.61 1.57 1.61 1.55 1.28 1.30
Profit before tax -5.45 -3.25 -12.03 -4.78 -4.45 -3.14 1.53 2.02 1.53 1.10 0.43 0.09
Tax % -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Profit -5.45 -3.26 -12.03 -4.79 -4.45 -3.14 1.53 2.02 1.54 1.10 0.43 0.09
EPS in Rs -2.31 -1.38 -5.09 -2.03 -1.88 -1.34 0.69 0.76 0.57 0.41 0.16 0.00
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

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
47.54 87.52 110.35 112.29 92.40 127.95 108.57 69.11 87.03 63.54 76.34 149.54 106.82
43.77 79.58 97.37 98.73 87.62 114.42 99.49 61.11 80.92 66.07 83.95 129.73 91.36
Operating Profit 3.77 7.94 12.98 13.56 4.78 13.53 9.08 8.00 6.11 -2.53 -7.61 19.81 15.46
OPM % 7.93% 9.07% 11.76% 12.08% 5.17% 10.57% 8.36% 11.58% 7.02% -3.98% -9.97% 13.25% 14.47%
Other Income 0.31 0.88 0.69 0.37 0.75 0.12 0.00 5.11 0.19 -1.42 -1.06 0.66 0.37
Interest 1.10 3.33 2.23 2.48 5.36 5.36 8.85 8.73 9.10 7.18 7.51 7.94 6.94
Depreciation 0.64 1.06 1.12 1.07 3.24 8.03 10.43 13.53 11.80 9.78 8.23 6.34 5.74
Profit before tax 2.34 4.43 10.32 10.38 -3.07 0.26 -10.20 -9.15 -14.60 -20.91 -24.41 6.19 3.15
Tax % 41.45% 26.64% 34.69% 33.53% 0.65% -234.62% -5.98% -0.00% -0.00% -0.00% -0.00% 0.00%
Net Profit 1.37 3.25 6.74 6.90 -3.05 0.87 -10.80 -9.15 -14.60 -20.92 -24.41 6.19 3.16
EPS in Rs 0.00 0.37 0.00 0.00 0.00 0.00 0.00 2.32 1.14
Dividend Payout % 45.00% 37.89% 18.27% 29.63% -0.00% 0.00% -0.00% -0.00% -0.00% -0.00% -0.00% 0.00%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:5.50%
5 Years:6.61%
3 Years:19.77%
TTM:-17.68%
Compounded Profit Growth
10 Years:6.98%
5 Years:20.99%
3 Years:34.62%
TTM:179.75%
Stock Price CAGR
10 Years:%
5 Years:16.95%
3 Years:8.53%
1 Year:-66.74%
Return on Equity
10 Years:-12.42%
5 Years:-28.94%
3 Years:-43.28%
Last Year:41.64%

Balance Sheet Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
4.11 8.21 8.21 13.63 23.63 23.63 23.63 23.63 23.63 23.63 23.63 26.72 26.72
Reserves 11.87 9.54 14.88 22.52 65.43 66.30 55.50 46.31 31.71 10.79 -13.65 -6.06 -4.84
Borrowings 11.28 13.96 13.64 33.83 45.50 53.51 65.58 62.07 64.63 67.23 69.90 54.12 52.67
7.69 11.00 18.75 15.80 13.48 19.27 10.00 13.54 10.87 13.36 32.04 35.79 32.13
Total Liabilities 34.95 42.71 55.48 85.78 148.04 162.71 154.71 145.55 130.84 115.01 111.92 110.57 106.68
5.91 7.73 7.70 20.17 59.74 86.26 90.33 75.67 65.41 57.71 47.13 39.19 36.67
CWIP 1.15 1.04 2.99 11.24 7.66 5.00 7.03 1.25 1.36 0.00 0.00 0.00 0.00
Investments 0.00 0.00 0.00 0.00 2.35 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
27.89 33.94 44.79 54.37 78.29 71.45 57.35 68.63 64.07 57.30 64.79 71.38 70.01
Total Assets 34.95 42.71 55.48 85.78 148.04 162.71 154.71 145.55 130.84 115.01 111.92 110.57 106.68

Cash Flows Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-12.83 2.81 6.96 8.96 -17.72 26.78 8.52 11.83 6.00 -4.39 5.80 14.92
-5.17 -3.06 -3.10 -24.10 -41.36 -29.50 -16.51 11.01 -1.69 -0.72 -0.02 3.44
17.47 0.22 -3.79 15.34 59.97 2.34 7.70 -22.14 -5.15 6.63 -5.55 -20.35
Net Cash Flow -0.53 -0.03 0.07 0.20 0.89 -0.38 -0.29 0.70 -0.85 1.51 0.22 -1.99

Ratios Figures in Rs. Crores

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 % 19.68% 26.32% 36.62% 24.03% 2.22% 4.04% -0.90% -3.35% -4.29% -10.73% -17.02% 18.52%
Debtor Days 96.59 91.75 94.96 105.48 152.44 121.15 93.70 167.26 103.97 152.86 163.47 136.03
Inventory Turnover 7.38 10.51 12.48 11.56 7.43 8.51 7.44 3.51 3.40 2.77 4.50 12.65