BSE: 532371 | NSE: TTML | Telecommunication - Service Provider | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Tata Teleservices (Maharashtra) Ltd is a average quality company.
The key valuation ratios of Tata Teleservices (Maharashtra) Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Tata Teleservices (Maharashtra) Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 0.8% | 5.4% | -12% | -154.2% | 82.7% | -457.8% | -542.6% | 35.8% | 43.5% | 53.4% | - |
| Value Creation Index ⓘ | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 2,893 | 2,972 | 2,703 | 1,869 | 1,277 | 1,078 | 1,044 | 1,094 | 1,106 | 1,192 | 1,286 |
| Sales YoY Gr. | - | 2.7% | -9.1% | -30.9% | -31.7% | -15.6% | -3.2% | 4.8% | 1.1% | 7.7% | - |
| Adj EPS ⓘ | -3.2 | -1.9 | -11.9 | -50.2 | -5.4 | -10.5 | -7.4 | -6.2 | -5.9 | -6.3 | -6.5 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | -15.2 | -20.4 | -30.2 | -77.5 | -75.8 | -89.4 | -94.6 | -96.3 | -97.5 | -98.5 | -101.8 |
| Adj Net Profit ⓘ | -617 | -378 | -2,317 | -9,807 | -1,047 | -2,060 | -1,453 | -1,219 | -1,147 | -1,234 | -1,271 |
| Cash Flow from Ops. ⓘ | 636 | 766 | 730 | 603 | -734 | -360 | 567 | 530 | 558 | 586 | - |
| Debt/CF from Ops. ⓘ | 11.7 | 15.2 | 22.2 | 25.8 | -22.5 | -46.4 | 34.3 | 37.2 | 35.5 | 34.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -9.4% | -1.4% | 4.5% | 7.7% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | NA | NA | NA | NA | ||||
| Share Price | 22.5% | 88.6% | -11.6% | -24.9% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 23.2 | 10.9 | 46.8 | 93.1 | 7 | 12.8 | 8.1 | 6.5 | 6.1 | 6.4 | 6.5 |
| Op. Profit Mgn % ⓘ | 20.5 | 24.1 | 24.2 | 3.4 | 16.5 | 39.2 | 46.9 | 42.8 | 44.5 | 44.3 | 42.7 |
| Net Profit Mgn % ⓘ | -21.3 | -12.7 | -85.7 | -524.9 | -82 | -191.1 | -139.2 | -111.4 | -103.7 | -103.6 | -98.8 |
| Debt to Equity ⓘ | -2.5 | -2.9 | -2.8 | -1 | -1.1 | -1 | -1.1 | -1.1 | -1 | -1 | - |
| Working Cap Days ⓘ | 180 | 181 | 163 | 218 | 229 | 219 | 216 | 163 | 131 | 115 | 40 |
| Cash Conv. Cycle ⓘ | -59 | -64 | -58 | -78 | -95 | -76 | -106 | -84 | -70 | -72 | -873 |
Return on Equity has increased versus last 3 years average to 6.50%
Sales growth is good in last 4 quarters at 13.37%
Sales growth has been subdued in last 3 years 4.52%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -6.5 | 0.4 |
| TTM Sales (₹ Cr.) | 1,286 | 2,266 |
| BVPS (₹.) ⓘ | -101.8 | 0 |
| Reserves (₹ Cr.) ⓘ | -21,862 | -2,514 |
| P/BV ⓘ | -0.66 | 0.00 |
| PE ⓘ | 0.00 | 162.87 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 65.29 / 111.48 |
| All Time Low / High (₹) | 1.80 / 291.05 |
| Market Cap (₹ Cr.) | 13,067 |
| Equity (₹ Cr.) | 1,954.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 68.5 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,893 | 2,972 | 2,703 | 1,869 | 1,277 | 1,078 | 1,044 | 1,094 | 1,106 | 1,192 |
| Operating Expenses ⓘ | 2,300 | 2,256 | 2,126 | 1,878 | 1,078 | 656 | 555 | 626 | 614 | 664 |
| Manufacturing Costs | 1,733 | 1,674 | 1,191 | 895 | 675 | 503 | 447 | 484 | 502 | 535 |
| Material Costs | 46 | 32 | 8 | 2 | 0 | 0 | 0 | 0 | 0 | 0 |
| Employee Cost | 159 | 120 | 126 | 103 | 65 | 59 | 49 | 55 | 62 | 71 |
| Other Costs ⓘ | 363 | 430 | 802 | 878 | 339 | 94 | 58 | 87 | 50 | 58 |
| Operating Profit ⓘ | 593 | 716 | 576 | -9 | 199 | 422 | 489 | 468 | 493 | 527 |
| Operating Profit Margin (%) | 20.5% | 24.1% | 21.3% | -0.5% | 15.6% | 39.1% | 46.8% | 42.8% | 44.5% | 44.3% |
| Other Income ⓘ | 54 | 69 | 104 | 211 | 533 | 35 | 24 | 17 | 17 | 16 |
| Interest ⓘ | 651 | 684 | 1,282 | 1,569 | 1,554 | 1,545 | 1,561 | 1,539 | 1,502 | 1,622 |
| Depreciation ⓘ | 611 | 460 | 796 | 533 | 178 | 195 | 169 | 160 | 147 | 150 |
| Exceptional Items ⓘ | 0 | 0 | -959 | -7,942 | 331 | -2,430 | -780 | 0 | -5 | 0 |
| Profit Before Tax ⓘ | -615 | -358 | -2,356 | -9,842 | -668 | -3,714 | -1,997 | -1,215 | -1,145 | -1,228 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -615 | -358 | -2,356 | -9,842 | -668 | -3,714 | -1,997 | -1,215 | -1,145 | -1,228 |
| PAT Margin (%) | -21.3% | -12.1% | -87.2% | -526.0% | -52.3% | -344.0% | -191.0% | -111.0% | -103.0% | -103.0% |
| Adjusted EPS (₹) | -3.2 | -1.8 | -12.1 | -50.3 | -3.4 | -19.0 | -10.2 | -6.2 | -5.9 | -6.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | -2,968 | -3,986 | -5,909 | -15,159 | -14,820 | -17,479 | -18,491 | -18,832 | -19,055 | -19,253 |
| Share Capital ⓘ | 1,955 | 1,955 | 1,955 | 1,955 | 1,955 | 1,955 | 1,955 | 1,955 | 1,955 | 1,955 |
| Reserves ⓘ | -4,923 | -5,941 | -7,864 | -17,114 | -16,775 | -19,434 | -20,446 | -20,787 | -21,009 | -21,208 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 6,771 | 10,659 | 14,968 | 13,169 | 12,639 | 10,477 | 12,987 | 13,780 | 11,531 | 14,035 |
| Long Term Debt | 5,010 | 7,245 | 10,662 | 7,862 | 5,708 | 6,138 | 9,869 | 10,711 | 10,027 | 12,957 |
| Short Term Debt | 1,761 | 3,414 | 4,305 | 5,306 | 6,931 | 4,338 | 3,118 | 3,069 | 1,504 | 1,078 |
| Trade Payables | 704 | 608 | 521 | 482 | 209 | 291 | 259 | 224 | 209 | 267 |
| Others Liabilities ⓘ | 1,537 | 2,181 | 2,326 | 4,888 | 6,502 | 8,426 | 6,755 | 6,193 | 8,525 | 6,258 |
| Total Liabilities ⓘ | 6,044 | 9,462 | 11,906 | 3,380 | 4,531 | 1,714 | 1,509 | 1,365 | 1,211 | 1,307 |
Fixed Assets | ||||||||||
| Gross Block | 9,071 | 10,098 | 16,361 | 3,761 | 3,556 | 3,914 | 3,987 | 3,958 | 3,863 | 3,875 |
| Accumulated Depreciation | 4,883 | 4,705 | 6,424 | 2,914 | 2,838 | 3,020 | 3,157 | 3,179 | 3,122 | 3,087 |
| Net Fixed Assetsⓘ | 4,188 | 5,393 | 9,937 | 847 | 718 | 894 | 830 | 779 | 740 | 788 |
| CWIP ⓘ | 46 | 2,246 | 27 | 27 | 26 | 39 | 29 | 28 | 34 | 59 |
| Investmentsⓘ | 0 | 592 | 680 | 378 | 609 | 0 | 70 | 101 | 66 | 34 |
| Inventories | 12 | 5 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Receivables | 200 | 291 | 227 | 158 | 89 | 122 | 78 | 121 | 110 | 156 |
| Cash Equivalents | 49 | 67 | 37 | 39 | 171 | 85 | 43 | 17 | 14 | 32 |
| Others Assetsⓘ | 1,548 | 868 | 997 | 1,932 | 2,917 | 575 | 458 | 319 | 246 | 237 |
| Total Assets ⓘ | 6,044 | 9,462 | 11,906 | 3,380 | 4,531 | 1,714 | 1,509 | 1,365 | 1,211 | 1,307 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 636 | 766 | 730 | 603 | -734 | -360 | 567 | 530 | 558 | 586 |
| PBT ⓘ | -615 | -358 | -2,356 | -9,842 | -668 | -3,714 | -1,997 | -1,215 | -1,145 | -1,228 |
| Adjustment ⓘ | 1,299 | 1,247 | 3,094 | 10,203 | 938 | 3,478 | 2,498 | 1,694 | 1,636 | 1,762 |
| Changes in Working Capital ⓘ | 0 | -167 | -28 | 201 | -1003 | -100 | 28 | 39 | 50 | 71 |
| Tax Paid ⓘ | -48 | 44 | 20 | 41 | -1 | -24 | 38 | 12 | 17 | -18 |
| Cash Flow From Investing Activity ⓘ | -785 | -1,183 | -2,198 | 259 | -101 | 510 | -177 | -130 | -66 | -64 |
| Capex | -785 | -607 | -2,131 | -77 | -127 | -109 | -110 | -104 | -109 | -104 |
| Net Investments | 0 | -575 | -67 | 327 | -203 | 619 | -68 | -28 | 41 | 39 |
| Others ⓘ | 0 | 0 | 0 | 10 | 228 | 0 | 2 | 2 | 3 | 1 |
| Cash Flow From Financing Activityⓘ | 177 | 434 | 1,041 | -860 | 967 | -237 | -432 | -427 | -494 | -503 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 466 | 701 | 287 | -6,646 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -607 | -689 | -812 | -1,007 | -2,014 | -619 | -365 | -296 | -416 | -453 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 318 | 422 | 1,566 | 6,793 | 2,982 | 382 | -68 | -130 | -79 | -50 |
| Net Cash Flow ⓘ | 28 | 18 | -427 | 2 | 132 | -87 | -42 | -26 | -2 | 18 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| ROCE (%) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover Ratio | 0.49 | 0.38 | 0.25 | 0.24 | 0.32 | 0.35 | 0.65 | 0.76 | 0.86 | 0.95 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 29 | 30 | 35 | 38 | 35 | 36 | 35 | 33 | 38 | 41 |
| Inventory Days | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 5,218 | 7,073 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Tata Teleservices Maharashtra (TTML) is a part of the Tata Group. This telecom services company has its presence all over
TTML provides a range of telephony services such as mobile, fixed wireless phones (FWP), public telephone booths & wireline services. Its suite of broadband data network and application services include leased lines, DSL, Wi-Fi, Ethernet, Managed Gateway services & Web Conferencing services. It stands at the fourth position in areas of operation.
“Virgin Mobile†branded services are being offered by Tata Teleservices Maharashtra (TTML) and Tata Teleservices (TTSL) in order to attract Indian youth.
During March 2008, Tata Teleservices Maharashtra crossed the 5 million subscribers mark. In October 2009, Tata Teleservices Maharashtra crossed the 10 million subscribers mark. In November 2010, TTML become the first private operator to launch its 3G services in the ‘Rest of Maharashtra’ telecom circle.
In March 2011, Tata Teleservices (Maharashtra) and Jet Airways, India’s leading airline, have entered into an exclusive partnership to offer something unique for members of JetPrivilege, Jet Airways’ award-winning Frequent Flyer Program.
In 2013- Tata DOCOMO, entered into an exclusive partnership with GMR Airports, a global leader in creating world class private Airport infrastructure, to offer high-speed Wi-Fi services at Indira Gandhi International Airport - Terminal 3 in Delhi and Rajiv Gandhi Hyderabad International Airport, Hyderabad.
Products and Services
The company is focusing on penetrating the market to increase its presence. In the wireless/mobile segment it has a subscriber base of 46.80 lakh. It has introducing new handsets at attractive prices and special tariff plans .
It has entered into an roaming agreement with Tata Teleservices (TTSL) that will offer services in 18 other telecom circles, due to which subscribers can enjoy pan-India mobility.
The company has opened True Value Shops, its franchisee models, which gives a platform to display its products and services.
It also has a web-based online retail store called ‘i-Choose’. This enables a customer to buy a handset with options to choose a tariff plan and has an online payment facility.
TTML has also started CDMA wireless services in 208 new towns in Maharashtra and
It has also launched USB plug-to-surf modems catering to laptop and desktop users.
Milestones
2010
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Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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