X

Tecpro Systems Ltd. Stock Analysis

Small Cap
Evaluated by 240 users | BSE: 533266 | NSE: TECPRO |
Engineering - Industrial Equipments
Tecpro System was incorporated in New Delhi on November 7, 1990 as a private limited company under the name ‘Tecpro Systems Private Limited’. The company was then converted into a public limited company pursuant to a resolution passed by the shareholders on May 8, 2006, following...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Value Creation
 Mar'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15
Return on Capital Employed 48.38%45.52%45.36%32.2%28.88%19.66%15.06%9.61%-6.35%-14.34%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 1032304827071,4551,9712,5302,610863273
Y-o-Y Gr. Rt.-123.5%109.8%46.6%105.8%35.5%28.4%3.2%-67%-68.4%
Adjusted EPS (Rs.) 4.688.3715.4118.324.12725.566.12-109.9-212.1
Y-o-Y Gr. Rt.-78.9%84.1%18.8%31.7%12%-5.3%-76.1%-1895.8%NA
Book Value per Share (Rs.) 6.0720.0837.9154.7378.01132.99150.07154.9542.43-172.92
Adjusted Net Profit 9.121.141.250.710713612930.9-555-1,071
Net Op. Cash Flow (Rs. Cr.) -2.217.613.548.5-200-176-377-643-976-509
Debt to Cash Flow from Ops -3.431.021.841.79-2.44-4.23-3.59-3.3-3.64-9.76
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Tecpro Systems Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 11.5%-28.4%-52.4%-68.4%
Adjusted EPS -252.8%-254.5%-302.5%NA
Book Value per Share -245.1-217.3-204.8-507.5
Share Price - - - -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15
Return on Equity (%) 58.9854.1154.0638.9841.7226.4517.893.98-109.84331.91
Operating Profit Margin (%) 16.9216.2214.2812.5915.5916.6915.7813.16-4.41-119.36
Net Profit Margin (%) 8.859.178.537.177.336.915.11.18-64.31-392.13
Debt to Equity 0.280.360.250.571.411.111.792.7116.59-5.69
Working Capital Days 1181331451982233584565942,0666,952
Cash Conversion Cycle 69124138182894228846882,734
Entity Percentage Holding
Promoters 52.04%
Institutions 14.68%
Non-Institutions 33.28%
Pledged *58.2358.2358.2358.2358.2358.2358.2397.4897.4397.40
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

Data is not available for this company.

Data is not available for this company

Tecpro System was incorporated in New Delhi on November 7, 1990 as a private limited company under the name ‘Tecpro Systems Private Limited’. The company was then converted into a public limited company pursuant to a resolution passed by the shareholders on May 8, 2006, following which the name was changed to ‘Tecpro Systems Limited’, and a fresh certificate of incorporation was issued consequent to the conversion into a public limited company, on July 10,

Tecpro System was incorporated in New Delhi on November 7, 1990 as a private limited company under the name ‘Tecpro Systems Private Limited’. The company was then converted into a public limited company pursuant to a resolution passed by the shareholders on May 8, 2006, following which the name was changed to ‘Tecpro Systems Limited’, and a fresh certificate of incorporation was issued consequent to the conversion into a public limited company, on July 10, 2006.

The company’s operations are spread across India with its head office in Chennai and design, engineering and marketing offices are located at Gurgaon, Kolkata, Mumbai, Secunderabad, Ahmedabad, and Bangalore. In addition, through its subsidiaries, Tecpro International FZE in Dubai, UAE and Tecpro Systems (Singapore) Pvt Limited in Singapore and marketing office in Johannesburg, South Africa. The company caters to the needs of the Middle East, South-East Asia and the African markets, respectively. The company has four manufacturing facilities out of which three facilities are located at Bhiwadi, Rajasthan and one at Bawal, Haryana.

Its Subsidiaries:-

1) Tecpro Energy Limited

2) Ajmer Waste Processing Company Private Limited

3) Bikaner Waste Processing Company Private Limited

4) Tecpro Trema Limited5)

Tecpro Systems (Singapore) Pvt Limited

6) Tecpro International FZE7) Microbase Infosolution Private Limited

Business area of the Company:- Tecpro System is an established material handling company in India, engaged in providing turnkey solutions in material handling, ash handling, balance of plant (“BoP”) and engineering, procurement and construction (“EPC”) contracts. In its flagship business of material handling solutions, the company designs, engineers, manufactures, sells ,commissions and services a range of systems and equipment for the core infrastructure related sectors like power, steel, cement and other industries. Over the years the company has developed in-house capabilities for providing comprehensive solutions in material handling and ash handling systems.

Leveraging its capabilities in coal and ash handling and established project management track record, the company begun to focus on turnkey BoP contracts in the thermal power generation sector. The scope of its services for BoP contracts includes design and engineering, manufacturing and sourcing of equipment and packages, project management and commissioning.

The company believes that its ability to provide coal handling and ash handling solutions in-house, which forms a substantial part of the BoP contracts, provides them with a competitive advantage in terms of cost, quality and execution timeline. The company was also awarded first BoP contract worth Rs 9,930 million by the Chhattisgarh State Power Generation Company for a 1x500 MW thermal power plant at Korba West in August 2009 through a consortium led by the Company.

Tecpro has also entered the EPC segment for thermal power projects in 2007, in which its manages the erection and commissioning of the boiler, turbine and generator (“BTG”) packages only with the undertaking the engineering, design, supply and commissioning of other equipment and services in an EPC contract. The company either collaborates or outsource to a third party supplier for providing BTG packages in relation to its EPC contracts. Currently, it undertakes EPC contracts for small thermal power plants.

The company has entered into technical collaborations and license agreements with several international companies which strengthen its technical credentials and provide them access to advanced technologies, allowing it to offer customized solutions to its client’s specific requirements. The company has seven collaborations for various material handling equipment and technologies, and three collaborations in relation for its ash handling operations. Some of technical collaborations include FAM Magdeburger Forderanlagen und Baumaschinen GmbH, Germany and Hein, Lehmann, Trenn-und Fordertechnik GmbH, Germany for material handling equipment and with Xiamen Longking Bulk Materials Science and Engineering Company Limited in relation to dry bottom ash handling system and pneumatic coal mill reject handling system for which Longking provides technical assistance.

Milestone:

  • 1990 - Incorporation of Company
  • 2001 - Established office in Chennai at No. 25, 1st Main Road, 1st Floor (Unit 2), Gandhi Nagar, Adyar,Chennai
  • 2003 - Company’s quality management system was certified by QMS Certification Services to conform to the requirements of ISO 9001:2008 in respect of design,production   and supply of material handling systems and components, Takeover/Merger of assets and liabilities of Tecpro Systems, a proprietorship concern of Amul Gabrani
  • 2005 - Started commercial production at Bawal, Haryana
  • 2006 - Conversion of company into a public limited company, Started commercial production at Bhiwadi, Rajasthan
  • 2007 - Received “Emerging India 2007” award for infrastructure sector constituted by ICICI Bank and CNBC TV 18.
  • 2009 - Merger of Blossom Automotive Private Limited into the Company pursuant to a scheme of amalgamation with effect from April 1, 2008. Awarded a CRISIL rating of “CRSIL SME1” indicating highest level of creditworthiness, adjudged in relation to other SME’s.It was awarded first BoP contract worth Rs 9,930 million by the Chhattisgarh State Power Generation Company Limited for a 1x500 MW thermal power plant at Korba West through a consortium led by the Company2010 -Tecpro Power Systems Limited and Tecpro Ashtech Limited merged into the Company pursuant to a scheme of amalgamation with effect from April 1, 2009

Awards and recognitions:

  • 2009 - Company was awarded a CRISIL rating of “CRSIL SME1”on May 8,2009. This rating indicates highest level of creditworthiness, adjudged in relation to other SME’s. The rating is valid until May 7, 2010
  • “Emerging India 2007” award for infrastructure sector constituted by ICICI Bank and CNBC TV 18.

Certifications:-

  • Company’s Quality Management System (QMS) was certified by QMS Certification Service to conform to the requirements of ISO 9001.2008 in respect of design, production and supply of material handling systems and components. The certificate is valid until July 13, 2012.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback