Tinplate Company of India Ltd

About [ edit ]

The Tinplate Company of India Limited (TCIL) is a subsidiary of Tata Steel Ltd. The country’s first tinplate manufacturer, TCIL is at the cusp of marking a century since inception in the year 1920. The Company has a pan India presence, with its headquarters in Kolkata. TCIL offers Tinplate in cut sheet & coil form, and TFS in sheet form.

  • Market Cap 2,235 Cr.
  • Current Price 214
  • High / Low 221 / 77.4
  • Stock P/E 22.8
  • Book Value 80.8
  • Dividend Yield 0.47 %
  • ROCE 17.1 %
  • ROE 12.2 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 22.84%

Cons

  • Company has a low return on equity of 11.18% for last 3 years.
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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
569 658 630 728 561 538 534 472 380 531 615 755
543 643 591 674 535 509 493 418 374 500 561 670
Operating Profit 25 15 39 54 26 30 41 55 6 32 54 85
OPM % 4% 2% 6% 7% 5% 6% 8% 12% 2% 6% 9% 11%
Other Income 6 12 5 6 7 5 5 7 4 5 7 8
Interest 1 2 2 1 1 1 2 6 2 2 1 3
Depreciation 16 16 16 17 16 15 15 15 15 15 15 15
Profit before tax 14 9 27 42 16 19 29 40 -7 20 44 74
Tax % 35% 38% 42% 34% 44% 34% -58% 32% -2% 20% 26% 25%
Net Profit 9 5 16 28 9 13 46 27 -7 16 33 56
EPS in Rs 0.90 0.51 1.48 2.64 0.84 1.21 4.44 2.59 -0.66 1.54 3.14 5.37

Profit & Loss

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
771 794 627 877 1,059 911 836 830 1,919 2,584 2,106 2,281
646 710 553 765 911 787 669 739 1,755 2,451 1,954 2,105
Operating Profit 125 84 74 112 148 124 167 91 164 133 151 177
OPM % 16% 11% 12% 13% 14% 14% 20% 11% 9% 5% 7% 8%
Other Income 31 18 19 21 25 27 18 19 16 29 24 25
Interest 21 14 17 25 21 12 6 3 3 7 10 8
Depreciation 34 36 48 58 61 71 73 66 62 64 61 62
Profit before tax 102 51 28 50 91 68 106 41 115 92 104 132
Tax % 34% 30% 41% 43% 31% 34% 36% 32% 37% 37% 9% 26%
Net Profit 67 36 17 28 63 45 68 28 73 58 95 98
EPS in Rs 9.33 4.98 1.58 2.70 6.00 4.26 6.48 2.66 6.99 5.54 9.08 9.38
Dividend Payout % 16% 24% 54% 37% 27% 38% 31% 60% 29% 36% 11% 21%
Compounded Sales Growth
10 Years:11%
5 Years:22%
3 Years:6%
TTM:8%
Compounded Profit Growth
10 Years:11%
5 Years:8%
3 Years:10%
TTM:5%
Stock Price CAGR
10 Years:13%
5 Years:27%
3 Years:-1%
1 Year:164%
Return on Equity
10 Years:9%
5 Years:10%
3 Years:11%
Last Year:12%

Balance Sheet

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
184 184 217 207 151 105 105 105 105 105 105 105
Reserves 237 247 389 395 429 444 518 517 572 606 656 741
Borrowings 207 320 135 156 91 45 0 0 0 0 14 13
384 344 325 342 321 277 244 251 431 465 424 496
Total Liabilities 900 983 953 998 946 871 867 874 1,107 1,176 1,198 1,356
405 464 753 762 723 680 628 604 567 563 578 545
CWIP 251 270 36 12 26 17 43 24 43 42 23 15
Investments 18 0 0 0 0 0 5 38 51 97 93 72
227 249 164 223 196 173 190 208 446 474 503 723
Total Assets 900 983 953 998 946 871 867 874 1,107 1,176 1,198 1,356

Cash Flows

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
169 34 114 84 199 170 114 91 108 124 53 252
-243 -115 -64 -50 -35 -35 -36 -57 -51 -104 -32 -162
83 66 -52 -34 -164 -134 -75 -28 -23 -32 -33 -18
Net Cash Flow 9 -15 -1 0 -1 1 3 5 34 -12 -12 73

Ratios

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 23% 10% 6% 10% 16% 13% 18% 7% 18% 14% 15% 17%
Debtor Days 12 14 24 35 20 14 22 36 19 18 12 12
Inventory Turnover 9.03 9.72 6.54 7.77 8.57 6.31 4.23 5.42 10.65 10.11 5.78 5.71

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
74.96 74.96 74.96 74.96 74.96 74.96 74.96 74.96 74.96 74.96 74.96 74.96
1.22 1.14 1.09 1.11 1.13 1.03 1.05 1.14 0.93 0.79 0.89 0.73
0.02 0.12 0.10 0.18 0.23 0.23 0.11 0.12 0.18 0.01 0.00 0.01
0.00 0.00 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
23.80 23.78 23.83 23.73 23.67 23.76 23.86 23.76 23.91 24.23 24.13 24.28

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