Tinplate Company Of India Ltd Stock Analysis

BSE: 504966 | NSE: TINPLATE | Steel & Iron Products | Small Cap

BSE Share Price Aug 12, 18:03
297.65 2.05 (0.69%)

DeciZen - Make an Informed Decision on Tinplate Company

Overall Rating

1. Quality

2. Valuation

Fair

3. Price Trend

Tinplate Company Price Chart

P/E Ratio (SA) :
8.44
Market Cap :
3,115.4 Cr.
52-wk low :
213.6
52-wk high :
443.2
Bole Toh?

1. Is Tinplate Company Of India Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Tinplate Company Of India Ltd is a average quality company.

2. Is Tinplate Company Of India Ltd undervalued or overvalued?

The key valuation ratios of Tinplate Company Of India Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Tinplate Company Of India Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Tinplate Company Of India Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Tinplate Company:

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 end

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.
Tinplate Company Of India Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 6.2%10.9%8.4%11.8%4.8%11.3%9.3%13.6%12.7%35.3%-
Value Creation Index -0.6-0.2-0.4-0.2-0.7-0.2-0.3-0.0-0.1NA-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 8771,0599118368311,9192,5852,1062,2814,2503,961
YoY Gr. Rt. %-20.7%-14%-8.3%-0.5%130.8%34.7%-18.5%8.3%86.3%-
Adj EPS 2.764.26.42.76.85.78.99.333.435.3
YoY Gr. Rt. %-119%-29.5%52.3%-58.5%155.1%-16.5%55.5%4.5%261.5%-
BVPS (₹) 47.75152.459.559.464.667.972.780.8111.9120
Adj Net Profit 28.762.844.367.42871.359.692.696.8350369
Cash Flow from Ops. 8419917011490.610812452.9252454-
Debt/CF from Ops. 1.90.50.30000000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 19.2%38.6%18%86.3%
Adj EPS 32.1%65.8%80.5%261.5%
BVPS 9.913.518.138.4
Share Price 18% 17.5% 40.4% 20.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 4.810.67.811.54.5118.612.612.134.730.4
Op. Profit Mgn % 12.81413.620118.45.37.27.711.713.1
Net Profit Mgn % 3.35.94.98.13.43.72.34.44.28.29.3
Debt to Equity 0.30.20.10000000-
Working Cap Days 80841041201348485118119820
Cash Conv. Cycle 25231317301715281950

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 30.40%

Sales growth is growing at healthy rate in last 3 years 18.03%

Net Profit is growing at healthy rate in last 3 years 80.46%

Sales growth is good in last 4 quarters at 59.99%

No data to display

Latest Financials - Tinplate Company Of India Ltd.

Standalone Consolidated
TTM EPS (₹) 35.3 -
TTM Sales (₹ Cr.) 3,961 -
BVPS (₹.) 120 -
Reserves (₹ Cr.) 1,151 -
P/BV 2.48 -
PE 8.44 -
From the Market
52 Week Low / High (₹) 213.55 / 443.15
All Time Low / High (₹) 3.19 / 443.15
Market Cap (₹ Cr.) 3,115
Equity (₹ Cr.) 104.7
Face Value (₹) 10
Industry PE 7.1

Management X-Ray of Tinplate Company :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

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Key Ratios of Tinplate Company

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

About Tinplate Company Of India Ltd

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
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