BSE: 0 | NSE: TBI | Consumer Food | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that TBI Corn Ltd is a below average quality company.
The key valuation ratios of TBI Corn Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of TBI Corn 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'23 | Mar'24 | TTM | |
|---|---|---|---|
| ROCE % ⓘ | 18.8% | 24.6% | - |
| Value Creation Index ⓘ | 0.3 | 0.8 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||
| Sales ⓘ | 115 | 158 | 158 |
| Sales YoY Gr. | - | 37% | - |
| Adj EPS ⓘ | 5.7 | 7.5 | 5.6 |
| YoY Gr. | - | 32% | - |
| BVPS (₹) ⓘ | 15 | 32 | 48.3 |
| Adj Net Profit ⓘ | 6.4 | 10 | 10 |
| Cash Flow from Ops. ⓘ | -16.7 | -2.8 | - |
| Debt/CF from Ops. ⓘ | -2.4 | -16.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | NA | 37% | ||||
| Adj EPS ⓘ | NA | NA | NA | 32% | ||||
| BVPSⓘ | NA | NA | NA | 113.7% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'23 | Mar'24 | TTM | |
|---|---|---|---|
| Return on Equity % ⓘ | 38 | 33.7 | 13.8 |
| Op. Profit Mgn % ⓘ | 9.3 | 11.2 | NAN |
| Net Profit Mgn % ⓘ | 5.5 | 6.4 | 6.4 |
| Debt to Equity ⓘ | 2.4 | 1.1 | - |
| Working Cap Days ⓘ | 0 | 181 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 134 | 0 |
No data to display
Return on Equity has declined versus last 3 years average to 13.80%
Sales growth has been subdued in last 3 years 0.00%
Net Profit has been subdued in last 3 years 0.00%
Debt to equity has increased versus last 3 years average to 1.07
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 5.6 | - |
| TTM Sales (₹ Cr.) | 158 | - |
| BVPS (₹.) ⓘ | 48.3 | - |
| Reserves (₹ Cr.) ⓘ | 70 | - |
| P/BV ⓘ | 3.90 | - |
| PE ⓘ | 33.92 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 343 |
| Equity (₹ Cr.) | 18.2 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 65.3 |
| Pledged * | 0.00 |
| PARTICULARS | Mar'23 | Mar'24 |
|---|---|---|
| Sales | 115 | 158 |
| Operating Expenses ⓘ | 105 | 140 |
| Manufacturing Costs | 8 | 9 |
| Material Costs | 95 | 127 |
| Employee Cost | 0 | 1 |
| Other Costs ⓘ | 2 | 4 |
| Operating Profit ⓘ | 10 | 18 |
| Operating Profit Margin (%) | 9.1% | 11.2% |
| Other Income ⓘ | 1 | 1 |
| Interest ⓘ | 2 | 4 |
| Depreciation ⓘ | 1 | 1 |
| Exceptional Items ⓘ | 0 | 0 |
| Profit Before Tax ⓘ | 8 | 14 |
| Tax ⓘ | 2 | 3 |
| Profit After Tax | 6 | 10 |
| PAT Margin (%) | 5.4% | 6.4% |
| Adjusted EPS (₹) | 5.6 | 7.6 |
| Dividend Payout Ratio (%) | 0% | 0% |
| PARTICULARS | Mar'23 | Mar'24 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 17 | 43 | ||||||||
| Share Capital ⓘ | 0 | 13 | ||||||||
| Reserves ⓘ | 17 | 29 | ||||||||
| Minority Interest | 0 | 0 | ||||||||
| Debt | 40 | 46 | ||||||||
| Long Term Debt | 14 | 9 | ||||||||
| Short Term Debt | 26 | 37 | ||||||||
| Trade Payables | 17 | 11 | ||||||||
| Others Liabilities ⓘ | 3 | 2 | ||||||||
| Total Liabilities ⓘ | 77 | 102 | ||||||||
Fixed Assets | ||||||||||
| Gross Block | 7 | 9 | ||||||||
| Accumulated Depreciation | 1 | 1 | ||||||||
| Net Fixed Assetsⓘ | 7 | 8 | ||||||||
| CWIP ⓘ | 0 | 6 | ||||||||
| Investmentsⓘ | 0 | 0 | ||||||||
| Inventories | 46 | 51 | ||||||||
| Trade Receivables | 21 | 31 | ||||||||
| Cash Equivalents | 0 | 0 | ||||||||
| Others Assetsⓘ | 2 | 6 | ||||||||
| Total Assets ⓘ | 77 | 102 | ||||||||
| PARTICULARS | Mar'23 | Mar'24 |
|---|---|---|
| Cash Flow From Operating Activity ⓘ | -17 | -3 |
| PBT ⓘ | 8 | 14 |
| Adjustment ⓘ | 1 | 1 |
| Changes in Working Capital ⓘ | -24 | -14 |
| Tax Paid ⓘ | -2 | -3 |
| Cash Flow From Investing Activity ⓘ | -8 | -8 |
| Capex | -8 | -8 |
| Net Investments | 0 | 0 |
| Others ⓘ | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 25 | 11 |
| Net Proceeds from Shares ⓘ | 11 | 16 |
| Net Proceeds from Borrowing ⓘ | 14 | -5 |
| Interest Paid ⓘ | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 |
| Others ⓘ | 0 | 0 |
| Net Cash Flow ⓘ | 0 | 0 |
| PARTICULARS | Mar'23 | Mar'24 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 37.15 | 33.89 | ||||||||
| ROCE (%) | 18.82 | 24.57 | ||||||||
| Asset Turnover Ratio | 1.5 | 1.77 | ||||||||
| PAT to CFO Conversion(x) | -2.83 | -0.3 | Working Capital Days | |||||||
| Receivable Days | 67 | 60 | ||||||||
| Inventory Days | 147 | 112 | ||||||||
| Payable Days | 67 | 41 | ||||||||
TBI Corn Limited was originally formed and registered as a Partnership Firm under the Partnership Act, 1932 (Partnership Act) in the name and style of ‘M/s The Best India’, pursuant to a deed of partnership dated February 24, 2000. Thereafter ‘M/s The Best India’ was converted from Partnership Firm to a Limited Company under Part I (Chapter XXI) of the Companies Act, 2013 in the name of ‘TBI Corn Limited’ and received a certificate of incorporation dated June 22, 2022 issued by the Registrar of Companies, Pune.
TBI Corn, an ISO 9001:2015 and ISO 22000:2018 certified company, is a prominent player in the corn milling industry. Located in the Sangli district of Maharashtra, India, it specializes in the production of good-quality Corn / Maize Grits and related products. The Company offers a diverse range of products, including cleaned and fat-free Corn Grits/Meal, Corn Flakes, Stone-free Broken Maize & Corn Flour and Turmeric Finger, all manufactured without chemical additives or preservatives and GMO-free. Apart from ISO certifications, it holds certificates from MSME, APEDA, and are both Indian Organic and USDA Organic certified. It has successfully expanded into international markets, serving countries in the Gulf, Sri Lanka, Malaysia, Brunei, Vietnam, South Korea and soon, Europe and the US.
Its products have a global presence, including UAE, Bahrain, Qatar, Kuwait, Saudi Arabia, Oman, Yemen, Jordan, Israel, Liberia, Sri Lanka, Malaysia, Brunei, Vietnam, South Korea, and plans to venture into Europe and the US. It proudly supplies to renowned companies across India. Its products cater to the needs of corn starch and cattle feed industries, with potential expansion in this sector. It has dedicated teams for research and development, ensuring continuous innovation and strategic growth. The Company is a trusted name in the corn milling industry, known for its commitment to quality, innovation, and international excellence. With its expanding reach and unwavering dedication, it aims to continue providing good quality corn products to customers worldwide.
Business area of the company
TBI Corn, an ISO 9001:2015 and ISO 22000:2018 certified company, is a prominent player in the corn milling industry. The Company offers a diverse range of products, including cleaned and fat-free Corn Grits/Meal, Corn Flakes, Stone-free Broken Maize & Corn Flour and Turmeric Finger, all manufactured without chemical additives or preservatives and GMO-free.
Products of the company
History and milestones
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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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