BSE: 507785 | NSE: TAINWALCHM | Plastic Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Tainwala Chemicals & Plastics (India) Ltd is a below average quality company.
The key valuation ratios of Tainwala Chemicals & Plastics (India) 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 Semi Strong which suggest that the price of Tainwala Chemicals & Plastics (India) Ltd is likely to Rise-somewhat 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 % ⓘ | 5.3% | 9.2% | 12.1% | 8.9% | 2.4% | 5.4% | -0.3% | 0.8% | 4.1% | 5.1% | - |
| Value Creation Index ⓘ | -0.6 | -0.3 | -0.1 | -0.4 | -0.8 | -0.6 | -1.0 | -1.0 | -0.7 | -0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 9.8 | 9.5 | 6.2 | 11.5 | 11.5 | 10.6 | 6.5 | 7.7 | 12.8 | 18 | 12 |
| Sales YoY Gr. | - | -3.2% | -34.6% | 84.3% | 0.4% | -8.2% | -38.9% | 19.3% | 66.2% | 40.5% | - |
| Adj EPS ⓘ | 2.2 | 4.2 | 7.1 | 6.6 | 2.1 | 4.6 | -0.6 | 1.3 | 3.1 | 4.8 | 4.3 |
| YoY Gr. | - | 92.1% | 71.8% | -8.1% | -68.7% | 123.4% | -113.1% | NA | 143% | 53.4% | - |
| BVPS (₹) ⓘ | 43.3 | 47.5 | 71.9 | 80.6 | 82.2 | 91.6 | 104.6 | 96.4 | 105.4 | 125.5 | 159.2 |
| Adj Net Profit ⓘ | 2 | 3.9 | 6.7 | 6.1 | 1.9 | 4.3 | -0.6 | 1.2 | 2.9 | 4.5 | 4 |
| Cash Flow from Ops. ⓘ | -1.6 | -5.6 | -0.4 | -3.4 | -2.4 | -7.4 | 3.7 | -2.1 | -5.5 | 0.8 | - |
| Debt/CF from Ops. ⓘ | 0 | -0.1 | -1 | -0.1 | 0 | -0 | 0 | 0 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 7% | 9.4% | 40.7% | 40.5% | ||||
| Adj EPS ⓘ | 9.2% | 18.4% | NA | 53.4% | ||||
| BVPSⓘ | 12.6% | 8.8% | 6.3% | 19.1% | ||||
| Share Price | 27.6% | 43.5% | 65.3% | 104.4% | ||||
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 % ⓘ | 5.1 | 9.1 | 11.9 | 8.6 | 2.5 | 5.3 | -0.6 | 1.3 | 3.1 | 4.1 | 3 |
| Op. Profit Mgn % ⓘ | -10.1 | -24.9 | -38.4 | -24.9 | -28.4 | -21.7 | -37.5 | -32.3 | -42.3 | -1.3 | 0.2 |
| Net Profit Mgn % ⓘ | 20.6 | 40.8 | 107.1 | 53.4 | 16.7 | 40.5 | -8.7 | 15.6 | 22.7 | 24.8 | 34.5 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 557 | 621 | 994 | 618 | 621 | 618 | 917 | 693 | 279 | 87 | 109 |
| Cash Conv. Cycle ⓘ | 152 | 186 | 299 | 173 | 175 | 165 | 301 | 219 | 97 | 47 | 95 |
Return on Equity has increased versus last 3 years average to 3.00%
Sales growth is growing at healthy rate in last 3 years 40.72%
Net Profit has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at -8.84%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 4.3 | - |
| TTM Sales (₹ Cr.) | 11.7 | - |
| BVPS (₹.) ⓘ | 159.2 | - |
| Reserves (₹ Cr.) ⓘ | 112 | - |
| P/BV ⓘ | 1.84 | - |
| PE ⓘ | 67.89 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 120.00 / 338.00 |
| All Time Low / High (₹) | 1.30 / 338.00 |
| Market Cap (₹ Cr.) | 274 |
| Equity (₹ Cr.) | 9.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 43 |
| 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 | 10 | 10 | 6 | 11 | 12 | 11 | 6 | 8 | 13 | 18 |
| Operating Expenses ⓘ | 11 | 12 | 9 | 14 | 15 | 13 | 9 | 11 | 18 | 18 |
| Manufacturing Costs | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 |
| Material Costs | 8 | 8 | 5 | 10 | 10 | 9 | 5 | 6 | 12 | 16 |
| Employee Cost | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 1 |
| Other Costs ⓘ | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 2 | 5 | 1 |
| Operating Profit ⓘ | -1 | -2 | -2 | -3 | -4 | -2 | -2 | -4 | -5 | 0 |
| Operating Profit Margin (%) | -10.2% | -25.3% | -38.4% | -25.2% | -30.9% | -22.0% | -37.5% | -48.0% | -42.3% | -1.3% |
| Other Income ⓘ | 4 | 7 | 10 | 10 | 6 | 7 | 3 | 5 | 10 | 6 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation ⓘ | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 2 | 4 | 7 | 6 | 2 | 4 | 0 | 0 | 4 | 6 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Profit After Tax | 2 | 4 | 7 | 6 | 2 | 4 | 0 | 0 | 3 | 5 |
| PAT Margin (%) | 20.6% | 40.5% | 108.1% | 55.4% | 17.8% | 41.0% | -5.0% | 4.8% | 25.6% | 26.7% |
| Adjusted EPS (₹) | 2.2 | 4.1 | 7.2 | 6.8 | 2.2 | 4.6 | -0.4 | 0.4 | 3.5 | 5.1 |
| 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 | 41 | 44 | 67 | 75 | 77 | 86 | 98 | 90 | 99 | 118 |
| Share Capital ⓘ | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves ⓘ | 31 | 35 | 58 | 66 | 68 | 76 | 89 | 81 | 89 | 108 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 1 | 0 | 1 | 1 | 2 | 2 | 1 | 0 | 0 | 0 |
| Others Liabilities ⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 6 |
| Total Liabilities ⓘ | 42 | 47 | 69 | 77 | 79 | 89 | 100 | 92 | 99 | 123 |
Fixed Assets | ||||||||||
| Gross Block | 15 | 16 | 4 | 4 | 4 | 5 | 5 | 6 | 7 | 7 |
| Accumulated Depreciation | 12 | 13 | 1 | 1 | 1 | 2 | 2 | 3 | 3 | 4 |
| Net Fixed Assetsⓘ | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 3 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 21 | 25 | 47 | 53 | 54 | 63 | 81 | 74 | 89 | 117 |
| Inventories | 3 | 4 | 5 | 5 | 6 | 4 | 4 | 4 | 2 | 1 |
| Trade Receivables | 2 | 3 | 1 | 2 | 1 | 2 | 2 | 1 | 1 | 0 |
| Cash Equivalents | 1 | 0 | 0 | 2 | 3 | 7 | 1 | 1 | 1 | 1 |
| Others Assetsⓘ | 12 | 12 | 13 | 14 | 13 | 10 | 9 | 9 | 3 | 0 |
| Total Assets ⓘ | 42 | 47 | 69 | 77 | 79 | 89 | 100 | 92 | 99 | 123 |
| 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 ⓘ | -2 | -6 | 0 | -3 | -2 | -7 | 4 | -2 | -6 | 1 |
| PBT ⓘ | 2 | 4 | 7 | 6 | 2 | 4 | 0 | 0 | 4 | 6 |
| Adjustment ⓘ | -3 | -6 | -9 | -9 | -5 | -6 | -2 | -3 | -6 | -6 |
| Changes in Working Capital ⓘ | -1 | -3 | 2 | -1 | 1 | -6 | 6 | 0 | -3 | 2 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -1 |
| Cash Flow From Investing Activity ⓘ | 1 | 4 | 1 | 5 | 4 | 5 | -3 | 2 | 5 | -1 |
| Capex | 0 | -1 | 0 | 0 | -1 | 0 | -5 | -1 | -1 | 0 |
| Net Investments | -1 | -4 | -3 | -3 | -1 | -5 | 0 | 2 | -7 | -9 |
| Others ⓘ | 2 | 10 | 5 | 8 | 6 | 10 | 2 | 1 | 14 | 8 |
| Cash Flow From Financing Activityⓘ | 0 | 1 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow ⓘ | 0 | -1 | 0 | 1 | 1 | -3 | 1 | 0 | 0 | 0 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 5.09 | 9.08 | 12.06 | 8.92 | 2.69 | 5.33 | -0.35 | 0.39 | 3.47 | 4.45 |
| ROCE (%) | 5.31 | 9.23 | 12.07 | 8.94 | 2.39 | 5.39 | -0.31 | 0.76 | 4.13 | 5.13 |
| Asset Turnover Ratio | 0.26 | 0.24 | 0.12 | 0.16 | 0.15 | 0.13 | 0.07 | 0.08 | 0.13 | 0.16 |
| PAT to CFO Conversion(x) | -1 | -1.5 | 0 | -0.5 | -1 | -1.75 | N/A | N/A | -2 | 0.2 | Working Capital Days |
| Receivable Days | 49 | 88 | 102 | 43 | 36 | 54 | 138 | 69 | 16 | 11 |
| Inventory Days | 117 | 114 | 228 | 152 | 166 | 173 | 234 | 183 | 87 | 39 |
| Payable Days | 18 | 23 | 48 | 32 | 44 | 74 | 116 | 55 | 7 | 3 |
Tainwala Chemicals & Plastics (India) is a flagship of the Tainwala group. The company was founded in September 1985 by Dr. Ramesh Tainwala.
The company started out by manufacturing household consumer utility products like ‘wet wipes’ and ‘mosquito repellants’. These products were launched under foreign technical collaborations with world leaders in their field like Storalene AB, Sweden and Sumitomo Corporation, Japan.
The company diversified into the plastics sheet extrusion in 1990. The company entered into a technical collaboration with Cincinnati Milacron, Austria for the manufacture of PVC Sheets. In the year, 1993 the company joined hands with another company Amut Spa, Italy for the expansion of its plastic sheet extrusion business.
The company’s business of consumer products was subsidiarised into a new company, Tainwala Personal Care Products Limited in the year 1994, in order that better focus could be provided to the marketing of the products. Its primary activity today is plastic sheet and profile extrusion.
The Tainwala group has diverse production as well as marketing activities in its fold. The core competence of the group lies in plastics processing and marketing. The group has interests in fast moving consumer goods, consumer durables, industrial products, packaging and real estate. The main group companies of the Tainwala Group are Tainwala Chemicals & Plastics India, Tainwala Personal Care Projects, Samsonite South Asia, Abhishri Packaging and Abhishri Polycontainers.
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