Transformers & Rectifiers India Ltd

About [ edit ]

Transformers & Rectifiers India is engaged in a manufacturer of Power, Furnace and Rectifier Transformers.

  • Market Cap 280 Cr.
  • Current Price 21.0
  • High / Low 23.9 / 6.00
  • Stock P/E
  • Book Value 25.3
  • Dividend Yield 0.00 %
  • ROCE 7.67 %
  • ROE 0.12 %
  • Face Value 1.00

Pros

  • Stock is trading at 0.83 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 4.83% over past five years.
  • Company has a low return on equity of 1.05% for last 3 years.
  • Company has high debtors of 217.99 days.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
226.63 190.99 195.87 241.96 173.05 153.94 210.84 163.12 114.76 175.09 168.45
208.49 179.82 184.66 221.20 168.68 139.16 194.44 147.39 105.88 155.13 150.41
Operating Profit 18.14 11.17 11.21 20.76 4.37 14.78 16.40 15.73 8.88 19.96 18.04
OPM % 8.00% 5.85% 5.72% 8.58% 2.53% 9.60% 7.78% 9.64% 7.74% 11.40% 10.71%
Other Income 0.80 4.33 1.97 4.76 12.78 1.08 1.22 0.86 1.10 1.34 0.95
Interest 10.75 12.24 10.28 12.70 10.80 9.69 10.46 14.82 10.61 11.18 11.77
Depreciation 4.47 4.62 4.76 4.67 4.95 4.99 4.87 4.78 4.85 4.89 4.83
Profit before tax 3.72 -1.36 -1.86 8.15 1.40 1.18 2.29 -3.01 -5.48 5.23 2.39
Tax % 34.68% 46.32% 0.54% 35.58% 51.43% 30.51% 31.88% 33.22% 34.31% 32.70% 53.56%
Net Profit 2.31 -0.99 -2.32 5.51 0.43 0.76 1.33 -2.12 -3.51 3.31 0.70
EPS in Rs 0.17 -0.07 -0.18 0.42 0.03 0.06 0.10 -0.16 -0.26 0.25 0.05

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
486 519 543 519 512 732 553 657 821 716 855 701 621
415 437 474 493 489 690 523 618 733 650 794 649 559
Operating Profit 71 82 69 26 23 42 31 38 87 65 61 51 63
OPM % 15% 16% 13% 5% 4% 6% 6% 6% 11% 9% 7% 7% 10%
Other Income 11 9 7 6 5 4 3 4 6 6 12 16 4
Interest 11 9 7 11 13 26 32 38 42 44 46 46 48
Depreciation 3 5 6 7 8 10 13 15 15 16 19 20 19
Profit before tax 68 78 62 15 8 9 -11 -10 36 11 9 2 -1
Tax % 33% 34% 32% 31% 25% 35% 34% 32% 34% 41% 41% 44%
Net Profit 45 52 42 10 5 5 -8 -8 23 5 5 0 -2
EPS in Rs 3.15 3.60 2.89 0.70 0.34 0.39 -0.61 -0.57 1.76 0.41 0.34 0.03 -0.12
Dividend Payout % 11% 13% 16% 2% 21% 23% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years:3%
5 Years:5%
3 Years:-5%
TTM:-20%
Compounded Profit Growth
10 Years:-39%
5 Years:15%
3 Years:-74%
TTM:-120%
Stock Price CAGR
10 Years:-1%
5 Years:-8%
3 Years:-9%
1 Year:226%
Return on Equity
10 Years:2%
5 Years:2%
3 Years:1%
Last Year:0%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
13 13 13 13 13 13 13 13 13 13 13 13 13
Reserves 235 280 313 323 327 330 321 313 312 317 322 323 322
Borrowings 61 72 68 44 107 170 157 164 209 399 263 308 273
95 97 151 153 188 294 232 299 341 358 281 289 275
Total Liabilities 404 461 546 533 634 807 723 789 876 1,088 880 933 883
45 91 94 106 154 155 192 185 187 195 201 193 185
CWIP 41 16 18 30 17 26 11 11 6 12 3 2 1
Investments 77 1 1 2 1 0 0 0 0 0 0 0 0
241 353 432 396 463 626 519 592 682 881 676 738 697
Total Assets 404 461 546 533 634 807 723 789 876 1,088 880 933 883

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
29 64 -37 90 -43 -32 93 37 66 -102 179 16
-40 55 -9 -25 -37 -16 -30 -5 -24 -31 -8 -15
11 -0 -16 -41 54 37 -50 -31 -61 145 -182 2
Net Cash Flow -1 118 -62 23 -27 -11 13 0 -18 12 -11 3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 28% 26% 18% 7% 5% 7% 4% 6% 15% 9% 8% 8%
Debtor Days 117 104 151 124 164 191 158 171 166 256 161 218
Inventory Turnover 5.01 6.75 4.89 4.07 4.14 5.12 2.92 2.56 3.12 2.32 2.90 2.54

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
74.90 74.90 74.90 74.91 74.91 74.91 74.91 74.91 74.91 74.91 74.91 74.91
2.55 2.17 1.39 1.39 1.38 0.96 0.38 0.00 0.00 0.00 0.00 0.00
22.56 22.94 23.71 23.70 23.71 24.13 24.71 25.09 25.09 25.09 25.09 25.09

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