BSE: 513629 | NSE: TULSYAN | Steel & Iron Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Tulsyan NEC Ltd is a average quality company.
The key valuation ratios of Tulsyan NEC Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Tulsyan NEC 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.
Value Creation Index Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 3.5% | 6.9% | 1% | -1.7% | 0.5% | -0.2% | 23% | 97.4% | 26% | -1.3% | - |
| Value Creation Index ⓘ | -0.8 | -0.5 | NA | NA | NA | NA | NA | 6.0 | 0.9 | -1.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 1,235 | 846 | 539 | 710 | 843 | 736 | 567 | 752 | 950 | 956 | 829 |
| Sales YoY Gr. | - | -31.5% | -36.2% | 31.7% | 18.7% | -12.7% | -23% | 32.8% | 26.3% | 0.6% | - |
| Adj EPS ⓘ | -23.6 | -19.6 | -57 | -99.9 | -147.8 | -150.2 | -97.9 | 151.2 | 60 | -37.3 | -31.2 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | -60.3% | -162.2% | - |
| BVPS (₹) ⓘ | 77.5 | 58.3 | -6.3 | -113 | -263.6 | -417.4 | -424.2 | 112.3 | 253.6 | 222 | 201.7 |
| Adj Net Profit ⓘ | -35.5 | -29.3 | -85.4 | -150 | -222 | -225 | -147 | 227 | 100 | -62.2 | -52 |
| Cash Flow from Ops. ⓘ | -195 | 97.2 | 18.7 | 147 | 75.8 | 39.2 | 232 | 860 | 336 | 11.2 | - |
| Debt/CF from Ops. ⓘ | -3.9 | 8.2 | 58.9 | 8 | 17.3 | 37 | 6.4 | 0.7 | 1.1 | 28.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -2.8% | 2.6% | 19.1% | 0.6% | ||||
| Adj EPS ⓘ | NA | NA | NA | -162.2% | ||||
| BVPSⓘ | 12.4% | NA | NA | -12.5% | ||||
| Share Price | 10.3% | 29.3% | 53.4% | -54.9% | ||||
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 % ⓘ | -26.5 | -27 | -199.5 | 171.8 | 80.1 | 45 | 23.7 | -98.8 | 34.2 | -15.8 | -14.7 |
| Op. Profit Mgn % ⓘ | 3.2 | 8.6 | 6.7 | 1.8 | 3.2 | 3.1 | 3.6 | 1.8 | 1.5 | -0.4 | 0.7 |
| Net Profit Mgn % ⓘ | -2.9 | -3.5 | -15.9 | -21.1 | -26.3 | -30.6 | -25.9 | 30.2 | 10.5 | -6.5 | -6.3 |
| Debt to Equity ⓘ | 6.3 | 8.4 | -118.3 | -7 | -3.4 | -2.4 | -2.4 | 3.7 | 0.9 | 0.9 | - |
| Working Cap Days ⓘ | 186 | 266 | 329 | 215 | 177 | 189 | 214 | 138 | 98 | 88 | 51 |
| Cash Conv. Cycle ⓘ | 42 | 75 | 146 | 129 | 117 | 129 | 156 | 102 | 56 | 32 | -2 |
Sales growth is growing at healthy rate in last 3 years 19.06%
Debt to equity has declined versus last 3 years average to 0.86
Return on Equity is Poor
Sales growth is not so good in last 4 quarters at -13.32%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -31.2 | -30.4 |
| TTM Sales (₹ Cr.) | 829 | 896 |
| BVPS (₹.) ⓘ | 201.7 | 187.9 |
| Reserves (₹ Cr.) ⓘ | 320 | 297 |
| P/BV ⓘ | 0.23 | 0.24 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 45.81 / 124.65 |
| All Time Low / High (₹) | 4.00 / 142.90 |
| Market Cap (₹ Cr.) | 76.4 |
| Equity (₹ Cr.) | 16.7 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 21.6 |
| Pledged * | 99.63 | 99.63 | 99.63 | 92.52 | 1.36 | 8.47 | 8.47 | 8.47 | 98.40 | 99.63 |
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| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,234.57 | 845.55 | 539.10 | 710.01 | 842.56 | 735.99 | 566.51 | 752.32 | 950.46 | 956 |
| Operating Expenses ⓘ | 1,195.05 | 773.07 | 503.56 | 697.33 | 818.66 | 714.65 | 546.64 | 739 | 936.79 | 959.68 |
| Manufacturing Costs | 73.95 | 77.28 | 72.96 | 116.90 | 135.30 | 123.94 | 102.99 | 121.63 | 137.92 | 129.37 |
| Material Costs | 1,077.45 | 646.74 | 392.50 | 515.41 | 610.06 | 538.74 | 392.46 | 573.76 | 735.18 | 786.17 |
| Employee Cost | 26.91 | 28.08 | 26.46 | 29.17 | 30.67 | 32.44 | 28.46 | 31.09 | 31.85 | 22.72 |
| Other Costs ⓘ | 16.74 | 20.97 | 11.64 | 35.86 | 42.63 | 19.54 | 22.73 | 12.52 | 31.83 | 21.42 |
| Operating Profit ⓘ | 39.52 | 72.48 | 35.54 | 12.67 | 23.90 | 21.34 | 19.88 | 13.31 | 13.67 | -3.69 |
| Operating Profit Margin (%) | 3.2% | 8.6% | 6.6% | 1.8% | 2.8% | 2.9% | 3.5% | 1.8% | 1.4% | -0.4% |
| Other Income ⓘ | 7.33 | 4.57 | 2.12 | 6.57 | 8.29 | 2.22 | 1.87 | 1.41 | 3.79 | 19.26 |
| Interest ⓘ | 75.10 | 93.24 | 119.45 | 139.70 | 227.56 | 224.47 | 203.22 | 5 | 11.06 | 38.97 |
| Depreciation ⓘ | 17.21 | 15.86 | 24.56 | 25.63 | 24.81 | 25.14 | 24.68 | 24.16 | 25.91 | 24.88 |
| Exceptional Items ⓘ | -1.91 | 0 | -2.90 | -11.46 | -2.41 | 0 | 196.93 | 804.38 | 210.87 | 0 |
| Profit Before Tax ⓘ | -47.37 | -32.05 | -109.26 | -157.54 | -222.59 | -226.04 | -9.22 | 789.94 | 191.37 | -48.28 |
| Tax ⓘ | -10.65 | -3.38 | -21.95 | 0 | 0 | 0 | 0 | 0 | -56.56 | 1.89 |
| Profit After Tax | -36.72 | -28.66 | -87.31 | -157.54 | -222.59 | -226.04 | -9.22 | 789.94 | 247.93 | -50.17 |
| PAT Margin (%) | -3.0% | -3.4% | -16.2% | -22.2% | -26.4% | -30.7% | -1.6% | 105.0% | 26.1% | -5.2% |
| Adjusted EPS (₹) | -25.0 | -19.5 | -59.4 | -107.0 | -151.0 | -153.0 | -6.3 | 536.9 | 149.8 | -30.3 |
| 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 | 122.72 | 94.46 | -8.79 | -165.56 | -387.91 | -614.17 | -624.20 | 165.17 | 419.78 | 367.37 |
| Share Capital ⓘ | 23.50 | 23.54 | 14.70 | 14.70 | 14.71 | 14.71 | 14.71 | 14.71 | 16.55 | 16.55 |
| Reserves ⓘ | 99.22 | 70.92 | -23.49 | -180.26 | -402.63 | -628.88 | -638.92 | 150.46 | 403.23 | 350.82 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 766.38 | 792.72 | 941.50 | 883.04 | 1,008.21 | 1,156.24 | 1,181.64 | 316.17 | 306.63 | 287.54 |
| Long Term Debt | 581.80 | 569.82 | 501.19 | 428.52 | 495.83 | 619.07 | 700.80 | 149.11 | 240.26 | 219.04 |
| Short Term Debt | 184.57 | 222.90 | 440.31 | 454.52 | 512.38 | 537.17 | 480.84 | 167.07 | 66.37 | 68.50 |
| Trade Payables | 301.49 | 226.22 | 70.87 | 87.32 | 72.47 | 78.28 | 13.40 | 39.89 | 88.57 | 122.56 |
| Others Liabilities ⓘ | 147.43 | 139.64 | 186.71 | 354.84 | 403.62 | 434.65 | 385.84 | 396.05 | 42.06 | 4.96 |
| Total Liabilities ⓘ | 1,338.02 | 1,253.04 | 1,190.29 | 1,159.63 | 1,096.38 | 1,055.01 | 956.68 | 917.29 | 857.05 | 782.43 |
Fixed Assets | ||||||||||
| Gross Block | 424.36 | 432.71 | 761.45 | 767.85 | 769.11 | 888.55 | 888.98 | 890.73 | 839.65 | 817.10 |
| Accumulated Depreciation | 103.11 | 117.50 | 24.30 | 49.80 | 74.19 | 215.18 | 239.47 | 262.99 | 274.77 | 275.59 |
| Net Fixed Assetsⓘ | 321.25 | 315.20 | 737.15 | 718.04 | 694.91 | 673.36 | 649.51 | 627.74 | 564.88 | 541.51 |
| CWIP ⓘ | 269.80 | 292.12 | 0.94 | 0 | 0 | 0 | 0 | 0 | 0 | 2.37 |
| Investmentsⓘ | 7.93 | 7.93 | 6.50 | 6.50 | 6.50 | 6.50 | 6.50 | 6.51 | 6.51 | 6.54 |
| Inventories | 139.48 | 131.74 | 128.48 | 92.32 | 97.75 | 99.44 | 90.48 | 78.61 | 98.37 | 79.03 |
| Trade Receivables | 384.22 | 321.10 | 205.06 | 270.71 | 245.06 | 235.15 | 156.49 | 146.33 | 97.42 | 103.63 |
| Cash Equivalents | 50.06 | 18.07 | 15.97 | 8.67 | 3.46 | 3.97 | 9.09 | 6.79 | 12.77 | 1.18 |
| Others Assetsⓘ | 165.29 | 166.88 | 96.18 | 63.39 | 48.71 | 36.58 | 44.61 | 51.30 | 77.10 | 48.17 |
| Total Assets ⓘ | 1,338.02 | 1,253.04 | 1,190.29 | 1,159.63 | 1,096.38 | 1,055.01 | 956.68 | 917.29 | 857.05 | 782.43 |
| 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 ⓘ | -195.37 | 97.17 | 18.68 | 146.56 | 75.77 | 39.23 | 231.91 | 860.29 | 336.13 | 11.18 |
| PBT ⓘ | -47.37 | -32.05 | -109.26 | -157.54 | -222.59 | -226.04 | -9.22 | 789.94 | 191.37 | -48.28 |
| Adjustment ⓘ | 68.63 | 101.30 | 137.50 | 159.62 | 255.85 | 248.63 | 227.17 | 29.06 | 35.57 | 46.69 |
| Changes in Working Capital ⓘ | -216.63 | 27.92 | -9.41 | 144.68 | 42.63 | 16.83 | 14.08 | 41.41 | 107.55 | 14.18 |
| Tax Paid ⓘ | 0 | 0 | -0.16 | -0.21 | -0.12 | -0.18 | -0.13 | -0.13 | 1.66 | -1.42 |
| Cash Flow From Investing Activity ⓘ | -38.23 | -29.34 | -13.13 | 8.27 | 3.84 | -4.32 | -2.70 | -3.40 | 0.85 | 53.57 |
| Capex | -44.16 | -30.67 | -18.82 | -5.62 | 2.80 | -3.57 | -0.83 | -2.41 | -3.78 | 53.44 |
| Net Investments | 1.58 | 0 | 5.16 | 12.93 | 0.85 | -1 | -2 | -1 | 4 | 0.05 |
| Others ⓘ | 4.35 | 1.32 | 0.53 | 0.96 | 0.19 | 0.25 | 0.13 | 0 | 0.63 | 0.08 |
| Cash Flow From Financing Activityⓘ | 262.50 | -99.81 | -3.26 | -151.39 | -83.97 | -35.40 | -226.09 | -860.18 | -327.01 | -76.29 |
| Net Proceeds from Shares ⓘ | 14.36 | 0.43 | 0.04 | 0 | 0.06 | 0 | 0 | 0 | 6.84 | 0 |
| Net Proceeds from Borrowing ⓘ | 312.81 | -11.98 | -83.78 | -72.67 | 67.31 | 123.24 | 81.73 | -551.69 | 91.15 | -21.22 |
| Interest Paid ⓘ | -64.67 | -88.26 | -109.37 | -92.94 | -209.19 | -183.43 | -315.91 | -2.77 | -72.98 | -34.60 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 189.86 | 14.21 | 57.85 | 24.80 | 8.09 | -305.73 | -352.02 | -20.47 |
| Net Cash Flow ⓘ | 28.90 | -31.98 | 2.29 | 3.44 | -4.36 | -0.49 | 3.12 | -3.30 | 9.98 | -11.55 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -29.19 | -28.73 | N/A | N/A | N/A | N/A | N/A | 0 | 84.77 | -12.75 |
| ROCE (%) | 3.51 | 6.89 | N/A | N/A | N/A | N/A | N/A | 97.4 | 25.98 | -1.28 |
| Asset Turnover Ratio | 1.01 | 0.69 | 0.48 | 0.62 | 0.75 | 0.68 | 0.56 | 0.8 | 1.07 | 1.17 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.09 | 1.36 | N/A |
| Working Capital Days | ||||||||||
| Receivable Days | 101 | 143 | 165 | 120 | 112 | 119 | 126 | 73 | 47 | 38 |
| Inventory Days | 39 | 55 | 82 | 56 | 41 | 49 | 61 | 41 | 34 | 34 |
| Payable Days | 109 | 149 | 138 | 56 | 48 | 51 | 43 | 17 | 32 | 49 |
Tulsyan NEC Limited (TULSYAN) was incorporated in 1955, the company earlier known as National Engineering Company. The company office is located at 61, Sembudoss Street, Chennai, Tamil Nadu-600001 .The company is a diversified company with business interests in steel and plastic packaging material. Manufacturing facilities are spread across Goa, Karnataka and Tamil Nadu.
Business Profile:
The company manufactures thermo mechanically treated (TMT) bars, billets and ingots in the steel division and polypropylene woven sacks, flexible intermediate bulk containers and woven fabric in the synthetic division. The steel products are used in the construction sector and the plastic products cater to the packaging needs of the cement, fertilizers, food grains, sugar, and other sectors. It is having a total combined capacity of 84,000 MTPA steel products; 222,000 MTPA MS pipes, billets, rounds, wires and other rolled products; 36,000 MTPA mild steel ingots; and 17,541 MTPA high density polyethylene and polypropylene woven fabric and sacks. The company has enhanced its customer base and caters to the markets in Gujarat, Maharashtra, Tamil Nadu, Andhra Pradesh, Goa, Kerala and Karnataka
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
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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