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Taneja Aerospace & Aviation Ltd. Stock Analysis

Small Cap
Evaluated by 214 users | BSE: 522229 | NSE: TANEJAERO |
Airlines
Taneja Aerospace & Aviation (TAAL) is a part of the Pune based Indian Seamless group and was established in 1994 as the first private sector company in the country to manufacture general aviation i.e. non-military aircraft. The company’s vision at the time was to create a nucleus...

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'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Capital Employed -0.51%5.4%5.13%2.4%1.24%0.04%0.12%3.81%2.96%6.93%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 32.841.250.553.753.528.760.437.231.532.7
Y-o-Y Gr. Rt.-25.7%22.4%6.4%-0.4%-46.3%110.2%-38.4%-15.2%3.9%
Adjusted EPS (Rs.) -1.31.741.540.13-0.75-1.91-1.710.290.062.05
Y-o-Y Gr. Rt.-NA-11.5%-91.6%-676.9%NANANA-79.3%3316.7%
Book Value per Share (Rs.) 54.1242.3243.9844.143.5735.8634.1435.135.2137.11
Adjusted Net Profit -3.24.33.80.3-1.9-4.8-4.30.70.25.1
Net Op. Cash Flow (Rs. Cr.) 0.74.210.15.56.829.10.111.38.78.2
Debt to Cash Flow from Ops 54.878.253.487.238.021.53365.963.24.13.83
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.
Taneja Aerospace & Aviation Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -0-9.4%-18.5%3.9%
Adjusted EPS NANANA3316.7%
Book Value per Share -4.1-3.22.85.4
Share Price -6.5% -15.5% -22.5% 33.6%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) -2.194.163.570.31-1.7-4.81-4.90.820.175.67
Operating Profit Margin (%) 11.2726.3220.6214.8610.53-10.454.821.0823.0542.41
Net Profit Margin (%) -9.8710.537.620.63-3.48-16.59-7.081.910.4815.61
Debt to Equity 0.280.330.320.360.50.50.480.410.410.34
Working Capital Days 338222219226294554257352246219
Cash Conversion Cycle 854675959110624156138
Entity Percentage Holding
Promoters 51.07%
Institutions 1.19%
Non-Institutions 47.74%
Pledged *3.933.933.933.933.933.933.933.930.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Taneja Aerospace & Aviation Ltd.'s performance infers:

Taneja Aerospace & Aviation Ltd. earnings have grown by 0%, whereas share price has depreciated -15.5% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Taneja Aerospace & Aviation Ltd. share prices over the last 10 years. Here is what we found out:

Taneja Aerospace & Aviation Ltd. share price has depreciated -4.2% annually over the past ten years.

Taneja Aerospace & Aviation (TAAL) is a part of the Pune based Indian Seamless group and was established in 1994 as the first private sector company in the country to manufacture general aviation i.e. non-military aircraft. The company’s vision at the time was to create a nucleus facility for the development of an aeronautical industry in India and in particular to promote affordable general aviation in the country. To kick-off this process, TAAL entered into a collaboration with

Taneja Aerospace & Aviation (TAAL) is a part of the Pune based Indian Seamless group and was established in 1994 as the first private sector company in the country to manufacture general aviation i.e. non-military aircraft. The company’s vision at the time was to create a nucleus facility for the development of an aeronautical industry in India and in particular to promote affordable general aviation in the country. To kick-off this process, TAAL entered into a collaboration with Partenavia of Italy to manufacture the six-seat twin piston-engine P68C aircraft and the eleven-seat twin turbo-prop Viator aircraft.

While TAAL continues to manufacture Light Transport and Trainer Aircraft, the company has since diversified its activities and has established a significant presence in many segments of the aviation and aeronautical industries in India.

TAAL is headquartered at Bangalore, which is the hub of the Indian Aviation Industry (Bangalore is also internationally famous as a software development and engineering design centre).

TAAL has three distinct Business Divisions, namely, Aerostructures, Airfield & MRO and Aircraft Sales and Support. Each division is run as an independent profit center by a dedicated Business Head.

Aerostructures Division

This business has evolved from the initial business of the company, which was to manufacture the Partenavia P68C, six seat, twin-engine aircraft in India.

The company currently manufactures aero structures for Hindustan Aeronautics Limited (HAL), Indian Space Research Organization (ISRO), National Aerospace Laboratories (NAL) Aeronautical Development Establishment (ADE), and Number of modifications on Indian Navy and Air force Helicopters and Aircraft. Of these, the largest structures that they manufacture are for ISRO where the company builds most of the structural assemblies for the Booster rockets of the GSLV program. It has also built major structures of 14 seat Saras aircraft developed by NAL.

Airfield & MRO Division

 TAAL has entered into an Airfield & MRO Division facility agreement with Air Works India (Engg) for establishment of commercial Aircraft Maintenance and Operating Airfield & MRO Division services at TAAL’s private airfield (Licensed) at Hosur, near Bangalore. The runway at this airfield is capable of accepting Airbus A 320 and Boeing 737 Series class of aircraft and the hanger is capable of accommodating Narrow Body aircraft. TAAL has DGCA Maintenance approval under CAR 145 for Maintenance of Cessna Jet and other Light Transport Aircraft. 

Aircraft Sales & Services Division

TAAL represents the Cessna Aircraft Company for their Citation range of Business Jets in India (since 1995). This is a stand-alone marketing division that is also supported by an operations arm that provides turnkey Operations and Maintenance support for Cessna Business Jets in India.

In addition, TAAL provides consulting support to help potential customers evaluate their flight and travel requirements and thereby find an appropriate solution.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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