Transformers & Rectifiers India Ltd

Transformers & Rectifiers India Ltd

₹ 361 5.00%
26 Feb - close price
About

Transformers and Rectifiers (India) Ltd. is a manufacturer of Power, Furnace and Rectifier Transformers. [1]

Key Points

Product Portfolio
Power Transformer- Generator transformers, Unit Auxiliary transformers, Step up & Step down transformers, Interconnecting Auto transformers, and Dual Voltage Primary or Secondary Three winding transformers.
Shunt Reactor- Reactors upto 765 kV class
Distribution Transformers- Earthing transformers, Three winding transformers, Step up & Step down transformers, and Dual voltage Primary or Secondary transformers.
Furnace Transformers- Arc Furnace, Induction Furnace, Ladle Arc Furnace and Submerged Arc Furnace transformers.
Rectifier Transformers- For DC power sources for Melt and Chemical Industries. [1]

  • Market Cap 5,152 Cr.
  • Current Price 361
  • High / Low 397 / 52.2
  • Stock P/E 368
  • Book Value 26.7
  • Dividend Yield 0.04 %
  • ROCE 14.8 %
  • ROE 10.8 %
  • Face Value 1.00

Pros

  • Company has delivered good profit growth of 49.7% CAGR over last 5 years

Cons

  • Stock is trading at 13.5 times its book value
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -5.26%
  • Company has a low return on equity of 5.81% over last 3 years.
  • Company has high debtors of 168 days.

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
168 284 217 267 335 341 300 325 332 438 156 257 369
150 262 201 246 317 324 278 291 300 406 151 237 331
Operating Profit 18 22 16 21 18 16 23 34 31 33 4 20 38
OPM % 11% 8% 8% 8% 5% 5% 8% 10% 9% 7% 3% 8% 10%
1 6 3 1 5 3 2 2 4 1 1 1 2
Interest 12 13 10 10 10 13 10 13 12 12 15 12 13
Depreciation 5 5 4 4 5 3 4 4 9 7 6 6 6
Profit before tax 2 10 4 8 8 2 10 18 14 15 -15 3 21
Tax % 54% 36% 35% 34% 34% 84% 36% 34% -2% 35% 20% 37% 24%
1 7 3 5 6 0 6 12 14 10 -12 2 16
EPS in Rs 0.05 0.49 0.21 0.36 0.39 0.10 0.48 0.87 1.04 0.68 -0.95 0.12 1.09
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
519 512 732 553 657 821 716 855 701 742 1,158 1,380 1,220
493 489 690 523 618 733 650 794 649 673 1,084 1,259 1,125
Operating Profit 26 23 42 31 38 87 65 61 51 69 74 121 95
OPM % 5% 5% 6% 6% 6% 11% 9% 7% 7% 9% 6% 9% 8%
6 5 4 3 4 6 6 12 16 9 10 8 5
Interest 11 13 26 32 38 42 44 46 46 46 44 48 51
Depreciation 7 8 10 13 15 15 16 19 20 19 17 25 26
Profit before tax 15 8 9 -11 -10 36 11 9 2 13 23 57 23
Tax % 31% 25% 35% 34% 32% 34% 41% 41% 44% 39% 39% 26%
10 5 5 -8 -7 24 6 5 1 8 14 42 15
EPS in Rs 0.70 0.34 0.39 -0.61 -0.57 1.76 0.41 0.34 0.03 0.53 1.06 3.07 0.94
Dividend Payout % 2% 21% 23% 0% 0% 0% 0% 0% 0% 19% 14% 5%
Compounded Sales Growth
10 Years: 10%
5 Years: 14%
3 Years: 25%
TTM: -6%
Compounded Profit Growth
10 Years: 24%
5 Years: 50%
3 Years: 367%
TTM: -56%
Stock Price CAGR
10 Years: 47%
5 Years: 101%
3 Years: 175%
1 Year: 525%
Return on Equity
10 Years: 3%
5 Years: 4%
3 Years: 6%
Last Year: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 13 13 13 13 13 13 13 13 13 13 13 13 13
Reserves 323 327 330 321 313 312 317 322 323 330 343 380 368
44 107 170 157 164 209 399 263 308 263 325 330 383
153 188 294 232 299 341 358 281 289 319 428 464 502
Total Liabilities 533 634 807 723 789 876 1,088 880 933 925 1,109 1,187 1,266
106 154 155 192 185 187 195 201 193 181 168 153 145
CWIP 30 17 26 11 11 6 12 3 2 0 3 3 6
Investments 2 1 0 0 0 0 0 0 0 0 1 1 0
396 463 626 519 592 682 881 676 738 744 936 1,030 1,116
Total Assets 533 634 807 723 789 876 1,088 880 933 925 1,109 1,187 1,266

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
90 -43 -32 93 37 66 -102 179 16 96 2 28
-25 -37 -16 -30 -5 -24 -31 -8 -15 -7 -8 9
-41 54 37 -50 -31 -61 145 -182 2 -93 17 -45
Net Cash Flow 23 -27 -11 13 0 -18 12 -11 3 -4 11 -7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 124 164 191 158 171 166 256 161 218 205 164 168
Inventory Days 84 95 78 147 155 120 182 109 153 147 104 93
Days Payable 66 85 136 160 209 149 203 114 161 179 129 118
Cash Conversion Cycle 141 174 134 145 117 138 235 156 210 173 139 143
Working Capital Days 116 192 161 159 134 133 238 146 203 190 145 139
ROCE % 6% 5% 7% 4% 6% 15% 9% 8% 8% 9% 10% 15%

Shareholding Pattern

Numbers in percentages

10 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
74.91% 74.91% 74.91% 74.91% 74.91% 74.91% 74.91% 74.91% 74.91% 74.91% 74.91% 69.65%
0.00% 0.04% 0.01% 0.06% 0.19% 0.00% 0.05% 0.00% 0.02% 0.03% 0.56% 3.48%
25.09% 25.05% 25.08% 25.04% 24.90% 25.09% 25.05% 25.09% 25.07% 25.07% 24.53% 26.87%
No. of Shareholders 37,26541,44039,96143,97646,77346,39646,81047,58549,01251,34254,11861,972

* 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.

Click on the line-items to see the names of individual entities.

Documents

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