Tulsyan NEC Ltd

₹ 76.0 0.11%

11 Dec 4:00 p.m.

About

Incorporated in 1947, Tulsyan NEC Ltd manufactures TMT bars, Coal Based
Power Plant and Synthetics Woven
fabrics and sacks^[1]

Key Points

Product Profile:^[1]
Company’s products are TMT Bars, Sponge
Iron, Billets, and Ingots in the steel division
and in the synthetic division, it is PP Woven
Sacks, FIBC and Woven Fabric. TMT Bars are used in the Construction Sector and the plastic products cater to the packaging needs
of various industries such as Cement, Fertilizers, Food grains, Sugar, etc
a) TMT Bars^[2]
b) Wire Rod^[2]
c) Weld Mesh^[2]
d) Bloom^[2]
e) Sponge Iron^[2]
f) Power^[2]
g) Synthetics^[2]

Website BSE

Market Cap ₹ 127 Cr.
Current Price ₹ 76.0
High / Low ₹ 126 / 68.6
Stock P/E
Book Value ₹ 204
Dividend Yield 0.00 %
ROCE -3.17 %
ROE -17.9 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.37 times its book value
Company's working capital requirements have reduced from 48.1 days to 30.9 days

Cons

Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -7.04%
Promoters have pledged 98.4% of their holding.

* 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.

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	220.60	184.84	263.01	312.18	252.95	223.18	233.38	235.74	247.02	252.74	241.51	275.28	198.82
	231.27	198.63	241.73	296.30	246.77	242.53	219.78	229.94	246.64	253.68	244.84	260.15	188.54
Operating Profit	-10.67	-13.79	21.28	15.88	6.18	-19.35	13.60	5.80	0.38	-0.94	-3.33	15.13	10.28
OPM %	-4.84%	-7.46%	8.09%	5.09%	2.44%	-8.67%	5.83%	2.46%	0.15%	-0.37%	-1.38%	5.50%	5.17%
	174.42	-0.33	362.90	0.12	219.41	219.34	-6.78	0.08	14.87	2.39	0.25	1.34	0.64
Interest	1.65	1.60	2.50	1.60	2.15	2.07	8.29	11.43	10.33	9.79	10.19	9.75	9.13
Depreciation	5.98	6.13	6.26	6.17	6.58	5.95	7.73	6.61	5.63	6.12	7.07	6.14	6.14
Profit before tax	156.12	-21.85	375.42	8.23	216.86	191.97	-9.20	-12.16	-0.71	-14.46	-20.34	0.58	-4.35
Tax %	0.00%	0.00%	0.08%	0.00%	0.00%	0.00%	633.59%	15.54%	0.00%	0.00%	-2.16%	0.00%	0.00%
	156.12	-21.85	375.12	8.23	216.86	191.97	-67.49	-14.05	-0.71	-14.46	-19.90	0.58	-4.35
EPS in Rs	104.08	-14.57	250.08	5.49	144.57	127.98	-40.49	-8.43	-0.43	-8.68	-11.94	0.35	-2.61
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	1,206	1,348	1,293	919	534	705	837	750	620	850	1,022	977	968
	1,137	1,285	1,258	851	501	692	803	719	594	831	1,005	975	947
Operating Profit	69	64	35	68	33	13	34	32	26	19	17	2	21
OPM %	6%	5%	3%	7%	6%	2%	4%	4%	4%	2%	2%	0%	2%
	5	1	4	4	-2	-7	4	1	197	804	213	18	5
Interest	57	81	78	96	122	142	230	227	206	7	14	42	39
Depreciation	10	23	19	17	25	26	25	26	25	25	26	25	25
Profit before tax	7	-40	-58	-42	-116	-163	-217	-220	-8	791	189	-48	-39
Tax %	30%	55%	-27%	-15%	-19%	-1%	1%	-1%	40%	0%	-30%	3%
	5	-61	-43	-36	-94	-161	-219	-219	-12	791	246	-49	-38
EPS in Rs	3.09	-40.94	-28.52	-23.67	-62.77	-107.41	-146.30	-146.14	-7.71	527.25	147.45	-29.47	-22.88
Dividend Payout %	22%	-2%	-1%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-3%
5 Years:	3%
3 Years:	16%
TTM:	3%

Compounded Profit Growth
10 Years:	-1%
5 Years:	11%
3 Years:	19%
TTM:	75%

Stock Price CAGR
10 Years:	15%
5 Years:	%
3 Years:	%
1 Year:	-29%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	-18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	15	15	15	15	15	15	15	15	15	15	17	17	17
Reserves	117	121	85	50	-52	-212	-431	-649	-661	129	379	327	323
	540	571	795	822	1,125	1,190	1,334	1,472	1,495	638	377	335	323
	464	552	476	389	131	189	188	235	133	160	161	177	215
Total Liabilities	1,137	1,259	1,371	1,275	1,220	1,181	1,105	1,072	982	942	933	856	878
	116	351	332	325	745	726	702	680	656	635	573	550	537
CWIP	395	221	270	292	1	0	0	0	0	0	0	2	5
Investments	2	2	0	0	0	0	0	0	0	0	0	0	0
	624	685	770	658	473	455	403	392	325	307	360	304	336
Total Assets	1,137	1,259	1,371	1,275	1,220	1,181	1,105	1,072	982	942	933	856	878

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	132	107	-201	112	9	149	109	41	235	864	340	15
	-179	-80	-37	-29	-13	8	5	-4	-3	-5	-0	53
	49	-26	267	-115	6	-209	-118	-37	-229	-862	-330	-80
Net Cash Flow	3	1	28	-31	2	-51	-4	-0	3	-3	10	-12

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	94	97	111	131	141	141	107	115	99	67	37	40
Inventory Days	54	45	47	69	122	65	58	64	78	46	47	37
Days Payable	106	110	101	115	90	79	56	59	31	35	41	57
Cash Conversion Cycle	42	32	58	85	173	128	110	119	146	78	42	20
Working Capital Days	79	70	106	146	109	-17	-43	-70	110	63	50	31
ROCE %	11%	7%	3%	6%	1%	-1%	1%	1%	0%	-1%	-1%	-3%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Aug 2024
	70.45%	70.45%	70.45%	70.45%	70.45%	70.45%	70.45%	70.45%	70.45%	70.45%	70.45%	63.40%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.00%
	29.55%	29.55%	29.55%	29.54%	29.54%	29.55%	29.55%	29.54%	29.54%	29.56%	29.53%	26.60%
No. of Shareholders	4,457	4,456	4,460	4,456	4,453	4,669	4,632	4,527	4,481	4,521	4,674	4,570

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Aug 2024
	70.45%	70.45%	70.45%	70.45%	70.45%	70.45%	70.45%	70.45%	63.40%
	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.00%
	0.00%	0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	29.54%	29.07%	29.55%	29.55%	29.55%	29.55%	29.55%	29.56%	26.60%
No. of Shareholders	6,338	5,192	4,795	4,473	4,463	4,456	4,669	4,521	4,570

* 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.

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Tulsyan NEC Ltd

Tulsyan NEC Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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