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Tinplate Company Of India Ltd Stock Analysis

Small Cap
Evaluated by 950 users | BSE: 504966 | NSE: TINPLATE |
Steel & Iron Products

Tinplate Company of India Limited (TCIL) is a subsidiary of Tata Steel Ltd, which has a 74.96 per cent stake in it. India’s leading tinplate producer, TCIL offers its customers consistently high quality of products that meet the most stringent...

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'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 6.55%4.17%6.19%10.86%8.35%11.77%4.84%11.33%9.3%13.58%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 7946278771,0599118368311,9192,5852,106
Y-o-Y Gr. Rt.--21.1%39.9%20.7%-14%-8.3%-0.5%130.8%34.7%-18.5%
Adjusted EPS (Rs.) 4.881.822.7464.236.442.676.815.698.85
Y-o-Y Gr. Rt.--62.7%50.6%119%-29.5%52.3%-58.5%155.1%-16.5%55.5%
Book Value per Share (Rs.) 44.3547.2147.7350.9552.4459.559.4464.6467.9372.67
Adjusted Net Profit 35.119.128.762.844.367.42871.359.692.6
Net Op. Cash Flow (Rs. Cr.) 33.91148419917011490.610812452.9
Debt to Cash Flow from Ops 9.481.181.860.460.2600000
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.
Tinplate Company Of India Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 11.4%18.2%36.3%-18.5%
Adjusted EPS 6.8%15.9%49.1%55.5%
Book Value per Share 5.66.76.97
Share Price 14.8% 17.5% -12.6% 90.8%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 8.233.674.7510.637.8411.54.4910.978.5812.59
Operating Profit Margin (%) 10.6312.4512.7813.9813.5619.9510.968.45.257.15
Net Profit Margin (%) 4.423.043.275.934.868.063.373.712.34.4
Debt to Equity 0.740.220.260.160.0800000
Working Capital Days 10311980841041201348485118
Cash Conversion Cycle -8242523131730171528
Entity Percentage Holding
Promoters 74.96%
Institutions 0.91%
Non-Institutions 24.13%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Tinplate Company Of India Ltd's performance infers:

Tinplate Company Of India Ltd earnings have grown by 15.9%, whereas share price has appreciated 17.5% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Tinplate Company Of India Ltd share prices over the last 10 years. Here is what we found out:

Tinplate Company Of India Ltd share price has appreciated 8.5% annually over the past ten years.

Tinplate Company of India Limited (TCIL) is a subsidiary of Tata Steel Ltd, which has a 74.96 per cent stake in it. India’s leading tinplate producer, TCIL offers its customers consistently high quality of products that meet the most stringent requirements of customers. The country’s first tinplate manufacturer, TCIL is at the cusp of marking a century since inception in the year 1920.

Product and service

Tinplate Company of India Limited (TCIL) is a subsidiary of Tata Steel Ltd, which has a 74.96 per cent stake in it. India’s leading tinplate producer, TCIL offers its customers consistently high quality of products that meet the most stringent requirements of customers. The country’s first tinplate manufacturer, TCIL is at the cusp of marking a century since inception in the year 1920.

Product and service improvements in the last decade have given TCIL a larger share of the domestic tinplate market. It caters to around 74 per cent of the prime tinplate market and 43 percent of the overall domestic market. TCIL exports 20-25% of its produce to different geographies across the world, of which South East Asia, Middle East and select regions of Europe are key export markets.

The Company has a pan India presence, with its headquarters in Kolkata, eight Marketing & Sales offices and 18 stocking points across the country. Its single manufacturing facility, located in Jamshedpur, Jharkhand, has Cold Rolling Mills (CRMs), Electrolytic Tinning Lines (ETLs) and world-class Printing & Lacquering Lines.

Tinplate and Tin Free Steel (TFS), the two key product offerings of TCIL, are among the most versatile packaging substrates for packaging processed foods. The Company caters to the needs of extremely diverse segments, including Edible Oils, Paints & Pesticides, Processed Foods, Battery & Aerosols, and manufacturers of bottle crowns. TCIL offers Tinplate in cut sheet & coil form, and TFS in sheet form.

Business area of the company

The company is the producer of tin coated and tin free steel sheets in India having its headquarter in Kolkata, West Bengal and works located at Jamshedpur, Jharkhand. The company’s product basket includes Tinplate and Tin Free Steel in Single Reduced (SR) and Double Reduced (DR) forms which meet varying packaging needs of edible oils, processed foods, paints & chemicals, aerosols, batteries, crowns and other nonfood categories.

Awards and recognitions

2008-09

  • 1st Position in 8th CII (Eastern Region) Skills Competition held at Kolkata
  • TCIL wins CII-EXIM Bank Prize for Business Excellence
  • Tinplate Hospital: ISO 9001:2000 Accreditation
  • 2nd Position in TURNER trade - 21st Regional Workskills Competition, organized by CII Eastern Region
  • TCIL won the CII - Sustained High Overall Productivity Award 2007-08
  • TCIL bagged the 2nd position among Institutional Donors in Jharkhand during 2007-08

2009-10

  • 1st position in Regional '22nd CII CONVENTION ON QC CIRCLES' held ON 22.12.2009.
  • Certificate of appreciation for its sustained and unquestionable commitment to excellence - 17th Dec 2009. New Delhi
  • 3rd Position in Operation & Production Group - CII-9th Supervisory Skills Competition held at Kolkata
  • 3rd Position in Turner Trade - CII- 22nd Work skills Competition held at Kolkata
  • 2nd position in 22nd CONVENTION ON QC CIRCLES held on 8 December 2009 at Hotel Green Horizon, Ranchi.
  • MSD- TCIL certified under ISO/IEC 27001:2005
  • Recognition to 'SUDHAR' QC team - Eastern Region Chapter Convention on Quality Circles-CCQC-2009
  • Personal Achievement - Bhagwati Devi wins GOLD medal at ASIAN POWERLIFTING CHAMPIONSHIP 2009 held at Udaipur, Rajasthan.

2010-11

  • TCIL Commended 'Certificate of Recognition' for CII (ER) Energy Conservation Award 2010-11
  • Quality Circle Team AKARSHAN bagged Excellent Award in 24th National Convention on Quality Concept (NCQC-2010), which was held during 27-30 December, 2010, at the College of Engineering (Autonomous-Andhra University), Visakhapatnam (AP).
  • TCIL has been conferred with the CII Exim Prize 2010
  • Quality Circle Team SUDHAR bagged SILVER Medal in the International Convention on Quality Concept Circle Competition (ICQCC-2010) held on 12-15 October, 2010 at Hyderabad, organized by Quality Circle Forum of India, Hyderabad.
  • Quality Circle Team AKARSHAN bagged Gold Medal, (1st Position ) in Quality Circle Competition held on 21st September, 2010 at Taj Bengal, Kolkata organized by Quality Circle Forum of India, Kolkata Chapter
  • TCIL received the recognition for sustained excellence
  • TCIL won the finals on 28th July, 2010 at Mumbai - TATA INNOVISTA 2010 under DARE TO TRY category
  • TCIL certified under ISO: 22000 - 2005 - Food Safety Management System
  • TCIL recognised for its contribution in the area of Blood Donation - 01-April 2010

2011-12

  • TCIL secured first position under 'Significant' category in CII Eastern Region Productivity Awards 2011-2012.
  • Quality Circle Teams 'SUDHAR' and 'AKARSHAN' bagged Par Excellence (Gold Medal), in National Convention on Quality Circles (NCQC-2011), which was held during 09-12 December, 2011 at Hyderabad, organized by Quality Circle Forum of India, Hyderabad Chapter.
  • Quality Circle Teams 'SUDHAR' and 'AKARSHAN' bagged Gold Medal, in Quality Circle Competition (CCQC-2011) held on 20th September, 2011 at Taj Bengal, Kolkata organized by Quality Circle Forum of India, Kolkata Chapter.
  • TCIL received MERIT Prizes- INSAAN 2011

2012-13

  • TCIL ' ANVESHAN' bagged Excellent Award , in National Competition for Quality Circle (NCQC-2013), held during 20-23 Dec. '2013 at Techno India College of Technology, Kolkata.
  • TCIL Received Certificate of Appreciation from CII in recognition of commendable efforts towards significant improvement in Safety, Health and Environment in SHE contest 2012-2013 in the category of large scale companies.
  • TCIL 'AKARSHAN' quality circle team from CRM (E&E) department won '3 STAR' (Gold) in international Quality Circle Convention at Kuala Lumpur, Malaysia. 14th to 19th Oct 2012

2013-14

  • Best Associated Company (TIS Group) in Safety Performance in FY'13
  • Quality Circle Teams 'ANVESHAN' bagged Excellent Award, in National Competition for Quality Circle (NCQC-2013) - Dec' 2013
  • CII (ER) Productivity Award - Certificate of Appreciation for Significant Improvement in TQM - Mar'14
  • INSSAN - Merit Prize for Best Evaluator of Suggestion - Feb'14

2014-15

  • QC Team 'Akarshan' & 'Pragati' received the certificate of appreciation in 26th QC Circle Convention (CII- Jharkhand State Level) - Dec'14
  • INSSAN - 3rd Prize in Hindi Slogan - Dec'14, Merit award in English slogan, Hindi Poem and Best evaluator of suggestion
  • 2015-16
  • Mr. Amratesh Pandey from Annealing Department participated in the Best Theme Paper contest and won the Merit Prize. He also received the Awards of Poster and Slogan Contest on behalf of Mrs. Madhuri Mittal & Bhpendra Kumar Singh.
  • The Recognition function was organized during the 26th National Convention of the Indian National Suggestion Scheme Association (INSSAN) Contest held at Pune on 8th and 9th January 2016.

2016-17

  • 3 Quality Circle teams named Luminous from Batch Annealing Furnace, Akarshan from Cold Rolling Mill (Electrical & Electronics) and Anveshan from Crane department of TCIL were awarded GOLD in CCQC-2016 contest held at Hotel Taj Bengal, Kolkata on 27th September 2016.

2017-18

  • TCIL team bagged 3rd Prize in Eastern Region in the NMG-2017.The competition was organized by 'All India Management Association, New Delhi, held during 17-19 May '2017 at Bhubaneswar.
  • Two Team from Tinplate won 1st and 2nd position respectively in Ethic's Quiz for Tis Group Companies held on 27th July 2017 at TSL, Steelenium Hall,Jamshedpur Works.
  • TCIL team was represented by Ms. K.C. Swetha & Mr. M.K. Rajesh from CRM (E&E) and Mr. Shivadatta Das and Ms. Anamika Kumari from Business Excellence.

2018-19

  • TCIL has bagged 'Award for Excellence in Consistent TPM Commitment' for 2018.

History and Milestones

  • 1920: Incorporated in Kolkata on 20th January, 1920
  • 1922: First mill commenced production in Golmuri Works
  • 1923: Rolled out the first finished tinplates and products that appeared in the market in the form of kerosene tins
  • 1961: Became a public company
  • 1975: Undertook an Initial Public Offering (IPO) of equity shares
  • 1979: Commissioned ETP / TFS unit for commercial production
  • 1986: Bladite Holdings Limited UK (formerly BOC) sold their entire shareholding to TSL
  • 1996: Commissioned a cold rolling mill as part of the company’s backward integration process
  • 1998: Entered into a conversion arrangement with TSL
  • 1999: Phased out the operation of Hot Dip Plant (HDP)
  • 2005: Commissioned Solution Centre to produce printed and lacquered tinplate sheets
  • 2008: Installed capacity of tinning line enhanced to 3,79,000 TPA
  • 2008: Commenced commercial production in Second Electrolytic Tinning Line
  • 2011: Enhanced the capacity of the cold rolling mill complex to 3,80,000 TPA
  • 2013-17: Focused on consolidating production, enhancing capacity utilisation and improving the health of the company’s existing mills
  • 2017: Company started procuring raw material and selling on its own account and discontinued the conversion arrangement with TSL
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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