MarketFriction

Tinplate Company of India Ltd(Merged)

NSE TINPLATE · Packaging
₹430.50 -0.36%
NSE close2024-01-18
Market cap₹4,506 Cr.
P/E48.3
Merged or delisted Delivery 54.5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales615.14754.98866.29976.821,179.511,226.881,006.52959.54959.931,032.87914.25941.79
Expenses561.08669.85764.99869.931,046.061,068.36886.03999.85907.20951.74906.57941.85
Operating Profit54.0685.13101.30106.89133.45158.52120.49-40.3152.7381.137.68-0.06
OPM %8.79%11.28%11.69%10.94%11.31%12.92%11.97%-4.20%5.49%7.85%0.84%-0.01%
Other Income6.777.888.1110.1010.3511.4810.6412.2315.1017.5917.0318.16
Interest1.423.062.462.061.981.712.182.642.634.763.723.56
Depreciation15.3615.4614.9114.9414.8016.1515.2515.7816.5016.9517.3817.66
Profit before tax44.0574.4992.0499.99127.02152.14113.70-46.5048.7077.013.61-3.12
Tax %25.52%24.61%25.45%25.06%25.26%24.79%25.26%-24.54%25.30%26.55%27.15%-26.60%
Net Profit32.8256.1668.6274.9394.94114.4284.98-35.1036.3856.562.63-2.29
EPS in Rs3.135.366.557.169.0710.938.12-3.353.475.400.25-0.22
Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales8771,0599118368301,9192,5842,1062,2814,2503,9593,849
Expenses7659117876697391,7552,4511,9542,1043,7483,7453,707
Operating Profit11214812416791164133151177501214141
OPM %13%14%14%20%11%9%5%7%8%12%5%3.7%
Other Income212527181816292424395568
Interest252112633710881215
Depreciation586171736662646162616468
Profit before tax5091681064111592104132471193126
Tax %43%31%34%36%32%37%37%9%26%25%26%
Net Profit28634568287358959835314393
EPS in Rs2.706.004.266.482.666.995.549.089.3733.7113.648.90
Dividend Payout %37%27%38%31%60%29%36%11%21%12%22%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth16%16%23%-12%
Compounded Profit Growth17%13%12%-64%
Stock Price CAGR18%8%2%%
Return on Equity14%17%19%11%
Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital105105105105105105105105105105105105
Reserves3954294445185175726066567411,0661,1581,126
Borrowings2581384500001413121515
Other Liabilities240275277244251431465424496798648618
Total Liabilities9989468718678741,1071,1761,1981,3561,9811,9261,864
Fixed Assets762723680628604567563578545556596596
CWIP122617432443422315543356
Investments0005385197937221325283
Other Assets2231961731902084464745037231,1571,0441,129
Total Assets9989468718678741,1071,1761,1981,3561,9811,9261,864
Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity114841991701149110812453252454215
Cash from Investing Activity-64-50-35-35-36-57-51-104-32-162-373-269
Cash from Financing Activity-52-34-164-134-75-28-23-32-33-18-31-56
Net Cash Flow-10-113534-12-127350-109
Free Cash Flow47301591317366696212223368135
CFO/OP176%84%147%150%83%112%97%118%60%165%116%123%
Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days2435201422361918121252
Inventory Days8568568014985574185635348
Days Payable8459619011390534153565049
Cash Conversion Cycle244416459312317441981
Working Capital Days-26-10-15-2028361813269-1-3
ROCE %6%10%16%13%18%7%18%14%15%17%47%16%
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%
FIIs0.73%2.42%2.61%2.66%2.97%3.01%2.84%2.26%2.00%2.12%2.03%2.51%
DIIs0.01%0.01%0.01%0.00%0.01%0.01%0.00%0.00%0.01%0.00%0.15%0.25%
Government0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Public24.28%22.60%22.41%22.36%22.04%22.00%22.16%22.75%23.00%22.88%22.84%22.26%
No. of Shareholders74,14676,19688,74492,07696,60599,6141,06,51197,49492,41188,54881,16475,167

Fundamentals

Market Cap₹ 4,506 Cr.
Current Price₹ 430
Stock P/E48.3
Book Value₹ 118
ROCE15.8 %
ROE11.1 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-12%
Compounded Profit Growth (TTM)-64%
Standalone figures.
Valuation
Market capRs 4,512 Cr
Enterprise valueRs 3,993 Cr
P/E (TTM)48.37x
Price to book3.57x
Price to sales1.17x
EV / EBITDA19.07x
EV / EBIT28.34x
EV / sales1.04x
Price to cash flow20.96x
Earnings yield2.07%
Dividend yield0.70%
P/E, 3-year average17.31x
P/B, 3-year average2.72x
P/E, 5-year average17.64x
P/B, 5-year average2.30x
Profitability
Operating margin (excl. other income)5.41%
Operating margin (incl. other income)6.81%
EBITDA margin5.44%
Pre-tax margin3.28%
Net profit margin2.42%
Net margin, latest quarter-0.24%
ROE11.74%
ROCE16.67%
ROA7.31%
ROE, 3-year average19.65%
ROCE, 3-year average26.90%
ROA, 3-year average12.05%
ROE, 5-year average16.04%
ROCE, 5-year average22.08%
ROA, 5-year average9.85%
ROIC (approx.)14.01%
Tax rate25.96%
Other income / net worth4.39%
Growth
Sales growth (latest year)-6.84%
Profit growth (latest year)-59.53%
Sales CAGR, 3 years23.42%
Sales CAGR, 5 years15.59%
Profit CAGR, 3 years14.54%
Profit CAGR, 5 years14.31%
Sales growth QoQ3.01%
Profit growth QoQ-187.07%
Sales growth YoY (latest quarter)-1.85%
Per share
EPS (TTM)Rs 8.90
EPS (latest year)Rs 13.63
EPS (latest quarter)Rs -0.22
EPS, 3-year averageRs 18.89
EPS, 5-year averageRs 14.25
Book value per shareRs 120.53
Sales per shareRs 367.26
Cash flow per shareRs 20.54
Free cash flow per shareRs 12.88
Dividend per share (latest year)Rs 3.00
Dividend per share, 3-year averageRs 3.00
Dividend per share, 5-year averageRs 2.40
Dividends
Dividend payout22.01%
Dividend payout, 3-year average18.42%
Dividend payout, 5-year average20.48%
Efficiency
Asset turnover2.06x
Fixed asset turnover6.64x
Inventory turnover8.98x
Inventory days41 days
Debtor days2 days
Debtors turnover189.87x
Creditor days49 days
Cash conversion cycle1 days
Working capital days-3 days
Leverage
Total debtRs 15 Cr
Cash and bankRs 534 Cr
Net debtRs -519 Cr
Debt to equity0.01x
Net debt / EBITDA-2.48x
Interest coverage9.60x
Owners' fund to total sources65.59%
Debt to assets0.78%
Cash flow
Cash from Operating Activity (latest year)Rs 215 Cr
Cash from Investing Activity (latest year)Rs -269 Cr
Cash from Financing Activity (latest year)Rs -56 Cr
Net Cash Flow (latest year)Rs -109 Cr
Free cash flow (latest year)Rs 135 Cr
FCFE (approx.: FCF + change in debt)Rs 138 Cr
Cash from ops / profit, 5 years1.47x
Sales to cash flow18.39x
Statement figures
Net sales (TTM)Rs 3,849 Cr
Net sales (latest year)Rs 3,959 Cr
Sales (latest quarter)Rs 942 Cr
Operating profit excl. other income (latest year)Rs 214 Cr
Operating profit (latest quarter)Rs -0 Cr
Other income (TTM)Rs 68 Cr
EBITDA (TTM)Rs 209 Cr
PBDT (TTM)Rs 195 Cr
Profit before tax (TTM)Rs 126 Cr
Tax (latest year)Rs 50 Cr
Net profit (TTM)Rs 93 Cr
Net profit (latest year)Rs 143 Cr
Net profit (latest quarter)Rs -2 Cr
Depreciation (TTM)Rs 68 Cr
Depreciation (latest quarter)Rs 18 Cr
Interest (TTM)Rs 15 Cr
Cost of goods sold (latest year)Rs 3,319 Cr
Total expenditure (latest year)Rs 3,745 Cr
Total income (latest year)Rs 4,014 Cr
Share capitalRs 105 Cr
ReservesRs 1,158 Cr
Shareholders' fundsRs 1,263 Cr
Total assetsRs 1,926 Cr
Net blockRs 596 Cr
Capital work in progressRs 33 Cr
InvestmentsRs 252 Cr
ReceivablesRs 21 Cr
InventoryRs 370 Cr
Other liabilitiesRs 648 Cr
Shares outstanding (crore)10.48
Ownership
Promoter holding74.96% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 48.4 is at the 82th percentile of its own 7.3-year range (median 21.7, low 8.5, high 101.3).
P/B 3.57 is at the 83th percentile (median 2.63).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodTINPLATENifty 50Difference
1 week-2.8%-2.8% +0.0 pts
1 month-1.5%-6.8% +5.3 pts
3 months+8.0%-7.6% +15.7 pts
6 months+22.2%+0.4% +21.8 pts
1 year+23.9%-9.9% +33.8 pts
2 years+36.3%-13.6% +49.9 pts
3 years+139.6%+14.2% +125.4 pts
5 years+194.3%+27.9% +166.4 pts

Red flags

F-score 4 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Sep 2023
Sales ₹942 Cr -1.8% vs Sep 2022. Net loss ₹2 Cr.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2023-08-11Annual General Meeting/Dividend - Rs 3 Per Share
2022-06-15Annual General Meeting/Dividend - Rs 4 Per Share
2021-07-14 Annual General Meeting/Dividend - Rs 2 Per Share
2020-08-21 Dividend - Re 1 Per Share
2019-08-09 Annual General Meeting/Dividend - Rs 2 Per Share
2018-06-15 Annual General Meeting / Dividend- Rs 2 Per Share
2017-07-07 Annual General Meeting/Dividend - Rs 1.60 Per Share
2016-06-14 Annual General Meeting/Dividend Rs 2/- Per Share
2015-09-07 Annual General Meeting/ Dividend - Rs 1.60/- Per Share
2014-08-19Annual General Meeting / Dividend - Rs 1.60/- Per Share
2013-06-10Annual General Meeting/Dividend Re 1 Per Share
2012-09-12Annual General Meeting/Dividend Re 0.85 Per Share
2011-08-09Dividend - Rs. 1.20 Per Share
2010-08-11Dividend-Rs.1.50 Per Share
2009-09-09Rhts Eq 3:2 / Fcd 5:8 Eq
2009-07-21Agm/Div-Rs.1.25 Per Share
2008-08-08Annual General Meeting Bc Dates Revised
2007-07-06Annual General Meeting
2006-06-22Agm/Dividend-12.5%
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Tinplate Company of India Ltd(Merged)?

Tinplate Company of India Ltd(Merged) (TINPLATE) has a market capitalisation of Rs 4,506 Cr. at the 2024-01-18 close.

What is the P/E ratio of Tinplate Company of India Ltd(Merged)?

Tinplate Company of India Ltd(Merged) trades at a P/E of 48.3 on trailing twelve-month profit, at the 2024-01-18 close.

What were Tinplate Company of India Ltd(Merged)'s latest quarterly results?

In the Sep 2023 quarter, Tinplate Company of India Ltd(Merged) sales was Rs 942 Cr (-1.8% vs Sep 2022) with a net loss of Rs 2 Cr.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03