Tamil Nadu Petro Products Ltd

Tamil Nadu Petroproducts is primarily engaged in the manufacturing and sale of petrochemical products viz., Linear Alkyl Benzene (LAB), Caustic Soda, Chlorine and its derivatives at its facilities situated at Manali, Chennai.

Pros:
Company is virtually debt free.
Stock is trading at 0.75 times its book value
Cons:
The company has delivered a poor growth of -3.93% over past five years.
Promoter holding is low: 34.54%
Company has a low return on equity of 2.12% for last 3 years.
Contingent liabilities of Rs.120.35 Cr.

Peer Comparison Sector: FMCG // Industry: Detergents / Intermediates

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
210 219 209 250 261 236 292 259 274 335 304 333
194 209 194 228 242 214 270 234 256 307 281 310
Operating Profit 16 11 15 22 19 22 22 25 18 28 23 23
OPM % 8% 5% 7% 9% 7% 9% 8% 10% 7% 8% 8% 7%
Other Income 1 1 0 27 4 3 7 3 4 1 1 1
Interest 2 2 2 28 2 1 1 7 1 2 2 2
Depreciation 4 4 4 4 6 6 6 5 5 5 5 5
Profit before tax 10 5 9 17 16 18 23 16 15 22 17 17
Tax % 0% 0% 0% 195% 34% 34% 35% 37% 39% 12% 19% 33%
Net Profit 10 5 9 -16 10 12 15 10 9 19 14 11
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
742 739 869 831 1,020 1,248 1,281 1,052 950 701 889 1,049 1,245
709 725 826 775 955 1,185 1,306 1,056 979 699 825 961 1,154
Operating Profit 34 14 43 56 66 64 -25 -4 -29 2 64 88 92
OPM % 5% 2% 5% 7% 6% 5% -2% -0% -3% 0% 7% 8% 7%
Other Income 9 25 17 9 30 12 23 11 -2 69 28 17 7
Interest 25 25 26 22 29 32 32 32 20 15 34 10 7
Depreciation 33 33 33 31 38 37 39 30 21 18 16 22 20
Profit before tax -15 -18 2 13 29 6 -73 -56 -71 38 42 72 72
Tax % 28% 35% -242% 19% -0% 8% 30% 33% 26% 0% 78% 35%
Net Profit -11 -12 7 11 29 6 -51 -37 -53 38 9 47 54
EPS in Rs 0.00 0.00 0.73 1.11 3.11 0.58 0.00 0.00 0.00 4.24 1.03 5.19
Dividend Payout % -0% -0% 0% 42% 31% 76% -0% -0% -0% 0% 0% 10%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:3.56%
5 Years:-3.93%
3 Years:3.36%
TTM:18.73%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:16.18%
Return on Equity
10 Years:-2.23%
5 Years:-3.81%
3 Years:2.12%
Last Year:13.26%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
90 90 90 90 90 90 90 90 90 90 90 90 90
Reserves 288 275 282 287 306 306 256 218 151 189 219 264 319
Borrowings 214 190 151 182 117 166 197 159 102 67 45 36 40
281 261 247 246 247 223 274 247 262 155 203 229 164
Total Liabilities 873 816 770 804 760 785 816 714 605 501 556 620 613
393 411 381 402 368 319 313 288 247 218 216 193 230
CWIP 87 39 9 7 8 36 15 14 18 15 15 37 20
Investments 180 180 180 180 142 138 92 92 79 77 97 100 98
214 187 199 215 241 292 395 319 262 191 228 290 264
Total Assets 873 816 770 804 760 785 816 714 605 501 556 620 613

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
78 46 32 47 45 -2 -41 49 35 31 49 85
-15 4 29 -48 62 -4 38 11 43 18 -20 -70
-69 -49 -65 7 -98 7 -6 -71 -76 -50 -29 -16
Net Cash Flow -6 -0 -3 6 9 1 -9 -10 2 -1 -0 -0

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 1% 0% 5% 6% 7% 7% -7% -4% -9% -1% 16% 21%
Debtor Days 28 26 22 28 30 27 31 27 25 16 28 23
Inventory Turnover 7.14 9.58 13.85 10.35 10.75 10.74 7.20 5.53 7.89 9.65 13.43 11.88