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10 Yrs X-Ray 
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Analyst Note 
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About
TBI Corn Ltd (TBI)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: TBI Consumer Food | Small Cap | TBI Corn Share Price
BSE Share Price
Not Listed
Not Listed
TBI Corn Ltd (TBI)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: TBI Consumer Food | Small Cap | TBI Corn Share Price
BSE Share Price
Not Listed
Not Listed
Key Metrics
Valuation Multiples
Market Cap
₹150 Cr.
Current Price
₹0
52-Week Low / High
₹0 / 0
TTM EPS
₹10.3
TTM Sales
₹304 Cr.
Book Value per Share
₹66.1
P/E Ratio
8.05
Lower than its 5-year historical median
Industry PE
51.3
Price to Book (P/B)
1.25
Lower than its 5-year historical median
Price to Sales (P/S)
0.49
Lower than its 5-year historical median
EV/EBITDA
5.99
Lower than its 5-year historical median
Dividend Yield
NAN%
Profitability Efficiency
Return on Equity (ROE)
18.91%
Outperforms industry median
Return on Capital Employed (ROCE)
18.56%
Outperforms industry median
Return on Assets (ROA)
9.67%
Operating Profit Margin
11.2%
Net Profit Margin
6.44%
Gross Profit Margin
9.7%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
-
33.73%
Operating Profit Growth (1 Year)
-
33.33%
Net Profit Growth (1 Year)
-
34.95%
Asset Quality
Promoter Holding
56.47%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹102 Cr.
Equity
₹18.2 Cr.
Face Value
₹10
All Time Low / High
₹0.00 / 0.00
Check Before You Invest
Quality
Not GoodValuation
UndervaluedCheck Valuation charts
Price Trend
Strong
Is TBI Corn Ltd a good quality company?
TBI Corn Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does TBI Corn Ltd performance compare with that of its Peers?
Revenue growth of TBI Corn Ltd vs industry peers?
TBI Corn Ltd revenue CAGR is %, compared to the industry median CAGR of 0%, indicating stable growth and maintaining its market share.
Promoter shareholding and pledge status of TBI Corn Ltd?
Promoters hold 56.47% of the TBI Corn Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of TBI Corn Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of -16.51% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
TBI Corn Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|
| ROCE % ⓘ | 18.8% | 24.6% | 18.6% | - |
| Value Creation Index ⓘ | 0.3 | 0.8 | 0.3 | - |
Growth Parameters ⓘ |
||||
| Sales ⓘ | 115 | 158 | 212 | 303 |
| Sales YoY Gr. | - | 37% | 33.7% | - |
| Adj EPS ⓘ | 5.7 | 7.5 | 7.5 | 10.1 |
| YoY Gr. | - | 32% | -0.1% | - |
| BVPS (₹) ⓘ | 15 | 32 | 55.8 | 66 |
| Adj Net Profit ⓘ | 6.4 | 10 | 13.6 | 18 |
| Cash Flow from Ops. ⓘ | -16.7 | -2.8 | -29.6 | - |
| Debt/CF from Ops. ⓘ | -2.4 | -16.2 | -2.2 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | NA | 33.7% | ||||
| Adj EPS ⓘ | NA | NA | NA | -0.1% | ||||
| BVPSⓘ | NA | NA | NA | 74.5% | ||||
| Share Price | - | - | - | -16.5% | ||||
Key Financial Parameters ⓘ
| Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|
| Return on Equity % ⓘ | 38 | 33.7 | 18.9 | 16.6 |
| Op. Profit Mgn % ⓘ | 9.3 | 11.2 | 11.2 | NAN |
| Net Profit Mgn % ⓘ | 5.5 | 6.4 | 6.4 | 6.1 |
| Debt to Equity ⓘ | 2.4 | 1.1 | 0.6 | - |
| Working Cap Days ⓘ | 0 | 181 | 210 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 134 | 150 | 0 |
Valuation of TBI Corn - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'24 | Mar'25 |
|---|---|---|
| Sales | 158 | 212 |
| Operating Expenses ⓘ + | 140 | 188 |
| Operating Profit ⓘ | 18 | 24 |
| Operating Profit Margin (%) | 11.2% | 11.2% |
| Other Income ⓘ + | 1 | 2 |
| Interest ⓘ | 4 | 5 |
| Depreciation ⓘ | 1 | 2 |
| Profit Before Tax ⓘ | 14 | 18 |
| Tax ⓘ | 3 | 5 |
| Profit After Tax | 10 | 14 |
| PAT Margin (%) | 6.4% | 6.4% |
| Adjusted EPS (₹) | 7.6 | 7.5 |
| Dividend Payout Ratio (%) | 0% | 0% |
| PARTICULARS | Mar'24 | Mar'25 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 43 | 101 | |||||||||
| Debt + | 46 | 65 | |||||||||
| Minority Interest | 0 | 0 | |||||||||
| Trade Payables | 11 | 12 | |||||||||
| Others Liabilities ⓘ | 2 | 2 | |||||||||
| Total Liabilities ⓘ | 102 | 180 | |||||||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 8 | 17 | |||||||||
| CWIP ⓘ | 6 | 7 | |||||||||
| Investments ⓘ | 0 | 0 | |||||||||
| Inventories | 51 | 70 | |||||||||
| Trade Receivables | 31 | 46 | |||||||||
| Cash Equivalents | 0 | 0 | |||||||||
| Others Assets ⓘ | 6 | 40 | |||||||||
| Total Assets ⓘ | 102 | 180 | |||||||||
| PARTICULARS | Mar'24 | Mar'25 |
|---|---|---|
| Cash Flow From Operating Activity ⓘ + | -3 | -30 |
| Cash Flow From Investing Activity ⓘ + | -8 | -12 |
| Cash Flow From Financing Activity ⓘ + | 11 | 42 |
| Net Cash Flow ⓘ | 0 | -0 |
| PARTICULARS | Mar'24 | Mar'25 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 23.59 | 18.91 | ||||||||
| ROCE (%) | 20.21 | 18.56 | ||||||||
| Asset Turnover Ratio | 1.56 | 1.5 | ||||||||
| PAT to CFO Conversion(x) | -0.3 | -2.14 | ||||||||
| Working Capital Days | ||||||||||
| Receivable Days | 71.30 | 66 | ||||||||
| Inventory Days | 117.40 | 104.50 | ||||||||
| Payable Days | 32.30 | 25.10 | ||||||||
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Announcements
TBI Corn Ltd FAQs
The current trading price of TBI Corn on 01-Jan-1970 05:30 is ₹0.00.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 31-Dec-1969 the market cap of TBI Corn stood at ₹149.7 Cr
The latest P/E ratio of TBI Corn as of 31-Dec-1969 is 8.15.
The latest P/B ratio of TBI Corn as of 31-Dec-1969 is 1.25.
The 52-week high of TBI Corn is ₹0.00 and the 52-week low is ₹0.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of TBI Corn is ₹303 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that TBI Corn Ltd is a below average quality company.
The key valuation ratios of TBI Corn Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of TBI Corn Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
About TBI Corn Ltd
TBI Corn Limited was originally formed and registered as a Partnership Firm under the Partnership Act, 1932 (Partnership Act) in the name and style of ‘M/s The Best India’, pursuant to a deed of partnership dated February 24, 2000. Thereafter ‘M/s The Best India’ was converted from Partnership Firm to a Limited Company under Part I (Chapter XXI) of the Companies Act, 2013 in the name of ‘TBI Corn Limited’ and received a certificate of incorporation dated June 22, 2022 issued by the Registrar of Companies, Pune.
TBI Corn, an ISO 9001:2015 and ISO 22000:2018 certified company, is a prominent player in the corn milling industry. Located in the Sangli district of Maharashtra, India, it specializes in the production of good-quality Corn / Maize Grits and related products. The Company offers a diverse range of products, including cleaned and fat-free Corn Grits/Meal, Corn Flakes, Stone-free Broken Maize & Corn Flour and Turmeric Finger, all manufactured without chemical additives or preservatives and GMO-free. Apart from ISO certifications, it holds certificates from MSME, APEDA, and are both Indian Organic and USDA Organic certified. It has successfully expanded into international markets, serving countries in the Gulf, Sri Lanka, Malaysia, Brunei, Vietnam, South Korea and soon, Europe and the US.
Its products have a global presence, including UAE, Bahrain, Qatar, Kuwait, Saudi Arabia, Oman, Yemen, Jordan, Israel, Liberia, Sri Lanka, Malaysia, Brunei, Vietnam, South Korea, and plans to venture into Europe and the US. It proudly supplies to renowned companies across India. Its products cater to the needs of corn starch and cattle feed industries, with potential expansion in this sector. It has dedicated teams for research and development, ensuring continuous innovation and strategic growth. The Company is a trusted name in the corn milling industry, known for its commitment to quality, innovation, and international excellence. With its expanding reach and unwavering dedication, it aims to continue providing good quality corn products to customers worldwide.
Business area of the company
TBI Corn, an ISO 9001:2015 and ISO 22000:2018 certified company, is a prominent player in the corn milling industry. The Company offers a diverse range of products, including cleaned and fat-free Corn Grits/Meal, Corn Flakes, Stone-free Broken Maize & Corn Flour and Turmeric Finger, all manufactured without chemical additives or preservatives and GMO-free.
Products of the company
- Corn grits
- Corn bran
- Broken maize
- Processed Indian yellow maize
- Corn flour
- Corn flakes
- Corn germ
History and milestones
- 1990: Focus on yeast processing
- 2000: Register the firm under The Partnership Act, 1932 and Transition to manufacturing yeast and yeast powder.
- 2004: Entry into corn bran and corn powder production.
- 2005-2010: Expansion into maize and poultry industries.
- 2011-2012: Diversification into broken maize supply.
- 2013-2014: Introduction of Maka Poha (Raw Corn Flakes).
- 2015-2016: Establishment of a fully automated, ISO 22000:2018 compliant food processing unit.
- 2022: Conversion of Partnership Firm to a Limited Company under Part I (Chapter XXI) of the Companies Act, 2013 in the name of ‘TBI Corn Limited’.
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