BSE: 538496 | NSE: | Engineering | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Tarini International Ltd is a below average quality company.
The key valuation ratios of Tarini International Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Tarini International 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 % ⓘ | 2.6% | 3.8% | 3.2% | 3.2% | 1.5% | 2.4% | 2% | 1.3% | 0.7% | -2.5% | - |
| Value Creation Index ⓘ | -0.8 | -0.7 | -0.8 | -0.8 | -0.9 | -0.8 | -0.9 | -0.9 | -1.0 | -1.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 2.5 | 1.1 | 0.9 | 1.5 | 0.9 | 0.4 | 1.2 | 1.5 | 1.8 | 2.2 | 2 |
| Sales YoY Gr. | - | -55.9% | -19.6% | 66.7% | -43.3% | -57.7% | 222.2% | 28.5% | 20.1% | 22.4% | - |
| Adj EPS ⓘ | 0.2 | 0.4 | 0.3 | 0.4 | 0.1 | -0.2 | 0.2 | 0.2 | 0.1 | -0.1 | -1 |
| YoY Gr. | - | 147.1% | -28.6% | 23.3% | -78.4% | -300% | NA | -33.3% | -62.5% | -283.3% | - |
| BVPS (₹) ⓘ | 22.1 | 22.5 | 22.8 | 23.2 | 23.2 | 23.4 | 23.6 | 23.8 | 23.9 | 22.9 | 22.9 |
| Adj Net Profit ⓘ | 0.2 | 0.6 | 0.4 | 0.5 | 0.1 | -0.2 | 0.3 | 0.2 | 0.1 | -0.2 | -1 |
| Cash Flow from Ops. ⓘ | -15 | -1.5 | 0.6 | -1.3 | 0.8 | -0.7 | -1 | 0.6 | -1 | -1.8 | - |
| Debt/CF from Ops. ⓘ | -0.4 | -4.7 | 10.6 | -3.7 | 8.1 | -7 | -5.6 | 8 | -5.9 | -3.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -1.6% | 20.8% | 23.6% | 22.4% | ||||
| Adj EPS ⓘ | -195.3% | -206.6% | -177.1% | -283.3% | ||||
| BVPSⓘ | 0.4% | -0.3% | -1% | -4% | ||||
| Share Price | 0.5% | 29.3% | 12.9% | 116% | ||||
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 % ⓘ | 1 | 1.9 | 1.3 | 1.6 | 0.3 | -0.7 | 1 | 0.7 | 0.3 | -0.5 | -4.2 |
| Op. Profit Mgn % ⓘ | 25 | -25.4 | -3.1 | -3.4 | -73.8 | -288.2 | 9.4 | 5.8 | -17.8 | 23.5 | NAN |
| Net Profit Mgn % ⓘ | 8.7 | 49.5 | 43.9 | 32.3 | 12.1 | -57.1 | 27.2 | 13.6 | 4.7 | -6.8 | -56.4 |
| Debt to Equity ⓘ | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | - |
| Working Cap Days ⓘ | 1,373 | 5,719 | 7,479 | 4,550 | 8,533 | 20,802 | 6,385 | 4,847 | 3,920 | 3,177 | 0 |
| Cash Conv. Cycle ⓘ | 14 | 241 | 718 | 748 | 1,898 | 4,833 | 1,468 | 995 | 605 | 415 | 0 |
Sales growth is growing at healthy rate in last 3 years 23.59%
Return on Equity is Poor
Net Profit has been subdued in last 3 years -177.10%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -1 | 0 |
| TTM Sales (₹ Cr.) | 2.2 | 2.4 |
| BVPS (₹.) ⓘ | 22.9 | 20.1 |
| Reserves (₹ Cr.) ⓘ | 17 | 15 |
| P/BV ⓘ | 1.08 | 1.23 |
| PE ⓘ | 0.00 | 784.64 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 10.50 / 56.33 |
| All Time Low / High (₹) | 2.32 / 56.33 |
| Market Cap (₹ Cr.) | 32.2 |
| Equity (₹ Cr.) | 13 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 48 |
| 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 | 2.54 | 1.12 | 0.90 | 1.50 | 0.85 | 0.36 | 1.16 | 1.49 | 1.79 | 2.19 |
| Operating Expenses ⓘ | 1.90 | 1.40 | 0.93 | 1.55 | 1.56 | 1.40 | 1.05 | 1.40 | 2.10 | 1.67 |
| Manufacturing Costs | 0.14 | 0.06 | 0.09 | 0.04 | 0.05 | 0.06 | 0.05 | 0.14 | 0.14 | 0.08 |
| Material Costs | 0.45 | 0.25 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Employee Cost | 0.86 | 0.53 | 0.48 | 0.86 | 1.14 | 0.92 | 0.78 | 0.76 | 0.78 | 0.94 |
| Other Costs ⓘ | 0.45 | 0.56 | 0.36 | 0.65 | 0.36 | 0.42 | 0.22 | 0.50 | 1.19 | 0.65 |
| Operating Profit ⓘ | 0.63 | -0.28 | -0.03 | -0.05 | -0.71 | -1.04 | 0.11 | 0.09 | -0.32 | 0.51 |
| Operating Profit Margin (%) | 25.0% | -25.4% | -3.1% | -3.4% | -83.1% | -288.0% | 9.4% | 5.8% | -17.8% | 23.5% |
| Other Income ⓘ | 0.25 | 1.83 | 1.37 | 1.36 | 1.39 | 2.07 | 0.90 | 0.67 | 0.88 | 0.48 |
| Interest ⓘ | 0.41 | 0.54 | 0.59 | 0.49 | 0.45 | 0.42 | 0.24 | 0.18 | 0.11 | 0.08 |
| Depreciation ⓘ | 0.18 | 0.21 | 0.20 | 0.19 | 0.16 | 0.17 | 0.28 | 0.28 | 0.31 | 0.33 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.56 |
| Profit Before Tax ⓘ | 0.29 | 0.80 | 0.55 | 0.62 | 0.07 | 0.45 | 0.48 | 0.29 | 0.14 | -0.98 |
| Tax ⓘ | 0.07 | 0.25 | 0.15 | 0.13 | 0.02 | 0.20 | 0.17 | 0.09 | 0.05 | 0.26 |
| Profit After Tax | 0.22 | 0.55 | 0.39 | 0.49 | 0.05 | 0.25 | 0.31 | 0.20 | 0.08 | -1.24 |
| PAT Margin (%) | 8.7% | 49.5% | 43.9% | 32.3% | 5.5% | 68.5% | 27.2% | 13.6% | 4.7% | -56.6% |
| Adjusted EPS (₹) | 0.2 | 0.4 | 0.3 | 0.4 | 0.0 | 0.2 | 0.2 | 0.2 | 0.1 | -1.0 |
| 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 | 28.68 | 29.23 | 29.63 | 30.11 | 30.16 | 30.40 | 30.72 | 30.92 | 31.01 | 29.77 |
| Share Capital ⓘ | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves ⓘ | 15.68 | 16.23 | 16.63 | 17.11 | 17.16 | 17.41 | 17.72 | 17.92 | 18.01 | 16.77 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 4.88 | 6.55 | 5.45 | 4.45 | 5.56 | 4.73 | 5.27 | 4.73 | 5.92 | 5.95 |
| Long Term Debt | 2.87 | 4.44 | 3.50 | 4.14 | 2.72 | 1.93 | 1.42 | 0.89 | 0.81 | 0.27 |
| Short Term Debt | 2.01 | 2.11 | 1.94 | 0.30 | 2.84 | 2.80 | 3.85 | 3.84 | 5.11 | 5.68 |
| Trade Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others Liabilities ⓘ | 3.12 | 3.18 | 3.22 | 4.10 | 4.83 | 3.73 | 2.74 | 2.34 | 0.68 | 0.90 |
| Total Liabilities ⓘ | 36.68 | 38.96 | 38.29 | 38.66 | 40.55 | 38.87 | 38.73 | 37.99 | 37.61 | 36.62 |
Fixed Assets | ||||||||||
| Gross Block | 7.14 | 7.15 | 7.16 | 7.07 | 6.35 | 6.82 | 6.85 | 6.97 | 7.32 | 7.32 |
| Accumulated Depreciation | 0.77 | 0.98 | 1.18 | 1.35 | 1.02 | 1.13 | 1.41 | 1.69 | 2 | 2.33 |
| Net Fixed Assetsⓘ | 6.36 | 6.17 | 5.97 | 5.72 | 5.33 | 5.70 | 5.44 | 5.28 | 5.32 | 4.99 |
| CWIP ⓘ | 0.96 | 0.94 | 1.12 | 1.12 | 1.18 | 0 | 0 | 0 | 0 | 0.34 |
| Investmentsⓘ | 12.72 | 13.36 | 12.72 | 12.82 | 12.79 | 12.80 | 12.81 | 12.81 | 12.82 | 11.86 |
| Inventories | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Receivables | 0.19 | 1.28 | 2.26 | 3.89 | 4.95 | 4.58 | 4.71 | 3.42 | 2.50 | 2.47 |
| Cash Equivalents | 0.09 | 0.05 | 0.04 | 0.06 | 0.46 | 0.12 | 0.32 | 0.48 | 0.54 | 0.32 |
| Others Assetsⓘ | 16.35 | 17.16 | 16.19 | 15.06 | 15.84 | 15.66 | 15.46 | 15.99 | 16.42 | 16.64 |
| Total Assets ⓘ | 36.68 | 38.96 | 38.29 | 38.66 | 40.55 | 38.87 | 38.73 | 37.99 | 37.61 | 36.62 |
| 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 ⓘ | -14.98 | -1.49 | 0.56 | -1.32 | 0.77 | -0.74 | -1.04 | 0.64 | -1.02 | -1.84 |
| PBT ⓘ | 0.29 | 0.80 | 0.55 | 0.62 | 0.07 | 0.45 | 0.48 | 0.29 | 0.14 | -0.98 |
| Adjustment ⓘ | 0.43 | -0.30 | -0.35 | -0.54 | -0.71 | -0.65 | -0.31 | -0.08 | -0.22 | -0.04 |
| Changes in Working Capital ⓘ | -15.7 | -1.98 | 0.36 | -1.4 | 1.41 | -0.54 | -1.2 | 0.42 | -0.94 | -0.81 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | -1.08 | 0.39 | 0.91 | 1.16 | 1.42 | 1.73 | 0.74 | 0.40 | 0.29 | 1.67 |
| Capex | -1.25 | -0.01 | -0.01 | 0.07 | 0.23 | 0.65 | -0.03 | -0.12 | -0.35 | -0.35 |
| Net Investments | 0 | -0.65 | 0 | -0.10 | 0.03 | -0.01 | 0.76 | -0.01 | -0.01 | 1.56 |
| Others ⓘ | 0.16 | 1.05 | 0.92 | 1.19 | 1.17 | 1.10 | 0 | 0.52 | 0.64 | 0.46 |
| Cash Flow From Financing Activityⓘ | 16.08 | 1.06 | -1.49 | 0.18 | -1.79 | -1.33 | 0.49 | -0.87 | 0.80 | -0.05 |
| Net Proceeds from Shares ⓘ | 15.09 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -0.39 | -0.51 | -0.55 | -0.46 | -0.36 | -0.28 | -0.17 | -0.17 | -0.11 | -0.08 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 1.38 | 1.57 | -0.94 | 0.64 | -1.43 | -1.05 | 0.67 | -0.70 | 0.91 | 0.03 |
| Net Cash Flow ⓘ | 0.01 | -0.04 | -0.02 | 0.02 | 0.41 | -0.34 | 0.19 | 0.17 | 0.06 | -0.22 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 1.05 | 1.91 | 1.34 | 1.62 | 0.16 | 0.81 | 1.03 | 0.66 | 0.27 | -4.07 |
| ROCE (%) | 2.58 | 3.81 | 3.18 | 3.16 | 1.46 | 2.4 | 2.01 | 1.3 | 0.68 | -2.46 |
| Asset Turnover Ratio | 0.09 | 0.03 | 0.02 | 0.04 | 0.02 | 0.01 | 0.03 | 0.04 | 0.05 | 0.06 |
| PAT to CFO Conversion(x) | -68.09 | -2.71 | 1.44 | -2.69 | 15.4 | -2.96 | -3.35 | 3.2 | -12.75 | N/A | Working Capital Days |
| Receivable Days | 28 | 241 | 718 | 748 | 1,898 | 4,833 | 1,468 | 995 | 605 | 415 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Tarini International was originally incorporated at Delhi as ‘Tarini International Private Limited’ on January 20, 1999, under the provisions of the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. The company was subsequently converted to a Public Limited Company and consequently the name was changed to ‘Tarini International Limited’ vide fresh certificate of incorporation dated 8th July, 2011 issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. The company has been evolved as an engineering arm to provide financial and technical consultancy related to Hydro Power generation, Transmission and Distribution and Infrastructure. The company’s current projects are well geographically based in India and sub African Continent.
Over a period of time, the company has been developed as an integrated player providing turn-key services under one umbrella from designing, construction, generation, transmission and distribution. The company is also professionally competent to undertake projects from concept to commissioning. This entire set of activities, completes the value chain by providing the synergy of backward as well as forward integration. The company is well equipped with state of art tools and equipment and boasts of having a fleet of professionals capable of drawing up complete Detailed Project Report at the shortest period of time including detailed survey, geotechnical/ hydrological observations, land acquisition procedure and layouts ready for implementation.
Business area of the company
The company provides solutions to its clients depending on their requirements inter alia including feasibility studies, detailed project reports, techno economic feasibility reports, financial syndication, lender’s engineer services, basic and detailed engineering, bid process management, project management, cluster development, technical/ financial restructuring, energy audits, corporate debt restructuring, due diligence, qualitative and market research, and Consultation services etc.
Services of the company
Turnkey Projects in T&D: The company takes up Turnkey Projects in Transmission and Distribution by way of competitive bidding and or through negotiations. The company will now focus on African continent as it has abundance of natural resources leading to extensive mining activities involving continuous need of power. The region being power deficient, there are tremendous amount of opportunities for impending power infrastructure works.
Project refurbishment: The company undertakes preparation of detailed technical reports for the nonoperational projects to be refurbished covering technical aspects, cost estimations, engineering, designing and execution.
Project Developer: The company is developing its own, self-identified 5 MW Kanyatana mini small hydro project in Karnataka under IPP. The project is scheduled to be completed in 2 years time and is propose to generate approx. 35 million KWH annually.
Project Consultancy: The company provides technical consultancy services and pick up assignments for preparation of the Feasibility Reports / Detailed Project Reports for prospective Projects. The company provides technical consultancy along with framing of the Detailed Project Reports (DPRs) and detailed designing and engineering for small hydro-projects with various capacities from 3.5 to 100 MW, domestically. The company has been quite successful in its endeavors as the DPRs submitted to the stringent competent Authorities such as HPSEB, Central Design Organization of Narmada water resources Gujarat, Karnataka Renewable Energy Development (KREDL) Karnataka and Gujarat Irrigation Dept. Gujarat have extended appreciations with rave reviews and timely approvals.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
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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