Past 10 year's financial track record analysis by Moneyworks4me indicates that Taneja Aerospace & Aviation Ltd is a average quality company.
The key valuation ratios of Taneja Aerospace & Aviation 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 Taneja Aerospace & Aviation 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 % ⓘ | -2.3% | 1.6% | 5.2% | 4.3% | 9.3% | 8.2% | 9.4% | 8% | 15% | 13.3% | - |
| Value Creation Index ⓘ | -1.2 | -0.9 | -0.6 | -0.7 | -0.3 | -0.4 | -0.3 | -0.4 | 0.1 | -0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 28.7 | 60.4 | 37.2 | 31.5 | 32.7 | 32.3 | 34.5 | 31.2 | 31.9 | 30.4 | 35 |
| Sales YoY Gr. | - | 110.2% | -38.4% | -15.2% | 3.9% | -1.5% | 7% | -9.6% | 2.1% | -4.7% | - |
| Adj EPS ⓘ | -1.9 | -1.7 | 0.3 | 0.1 | 2.1 | 2.3 | 2.5 | 3.5 | 4.5 | 4.4 | 4.9 |
| YoY Gr. | - | NA | NA | -79.3% | 3316.7% | 13.7% | 6.9% | 41% | 28.8% | -3.5% | - |
| BVPS (₹) ⓘ | 35.9 | 34.1 | 35.1 | 35.2 | 37.1 | 39.5 | 42 | 43.6 | 44 | 51.2 | 54.1 |
| Adj Net Profit ⓘ | -4.8 | -4.3 | 0.7 | 0.2 | 5.1 | 5.8 | 6.2 | 8.8 | 11.3 | 11.1 | 13 |
| Cash Flow from Ops. ⓘ | 29.1 | 0.1 | 11.3 | 8.7 | 8.2 | 12.1 | 13.7 | 9.7 | 15.9 | 14.1 | - |
| Debt/CF from Ops. ⓘ | 1.5 | 366 | 3.2 | 4.1 | 3.8 | 1.6 | 0.6 | 0.3 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 0.6% | -1.5% | -4.2% | -4.7% | ||||
| Adj EPS ⓘ | NA | 16.3% | 20.5% | -3.5% | ||||
| BVPSⓘ | 4% | 6.6% | 6.8% | 16.4% | ||||
| Share Price | 19.9% | 81.3% | 65.9% | 17.7% | ||||
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 % ⓘ | -4.8 | -4.9 | 0.8 | 0.2 | 5.7 | 6.1 | 6.1 | 8.2 | 10.3 | 9.3 | 9.4 |
| Op. Profit Mgn % ⓘ | -10.5 | 4.8 | 21.1 | 23.1 | 42.4 | 42.3 | 42.4 | 52 | 58.7 | 63.2 | 58.7 |
| Net Profit Mgn % ⓘ | -16.6 | -7.1 | 1.9 | 0.5 | 15.6 | 18 | 18 | 28.1 | 35.4 | 36.6 | 36 |
| Debt to Equity ⓘ | 0.5 | 0.5 | 0.4 | 0.4 | 0.3 | 0.2 | 0.1 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 554 | 257 | 352 | 246 | 219 | 190 | 137 | 128 | 133 | 174 | 82 |
| Cash Conv. Cycle ⓘ | 106 | 24 | 15 | 61 | 38 | 61 | 54 | 48 | 28 | 41 | 52 |
Return on Equity has increased versus last 3 years average to 9.40%
Net Profit is growing at healthy rate in last 3 years 20.53%
Sales growth has been subdued in last 3 years -4.20%
Sales growth is not so good in last 4 quarters at 6.48%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 4.9 | 4.9 |
| TTM Sales (₹ Cr.) | 34.9 | 34.9 |
| BVPS (₹.) ⓘ | 54.1 | 54.1 |
| Reserves (₹ Cr.) ⓘ | 125 | 125 |
| P/BV ⓘ | 8.04 | 8.04 |
| PE ⓘ | 88.16 | 88.16 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 309.00 / 710.00 |
| All Time Low / High (₹) | 1.45 / 710.00 |
| Market Cap (₹ Cr.) | 1,109 |
| Equity (₹ Cr.) | 12.8 |
| Face Value (₹) | 5 |
| Industry PE ⓘ | 25.6 |
| 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 | 29 | 60 | 37 | 32 | 33 | 32 | 35 | 31 | 32 | 30 |
| Operating Expenses ⓘ | 32 | 57 | 29 | 24 | 19 | 19 | 20 | 15 | 13 | 11 |
| Manufacturing Costs | 5 | 1 | 2 | 2 | 2 | 2 | 5 | 5 | 7 | 4 |
| Material Costs | 8 | 36 | 10 | 6 | 4 | 3 | 3 | 1 | 0 | 0 |
| Employee Cost | 10 | 12 | 11 | 10 | 9 | 9 | 9 | 6 | 4 | 4 |
| Other Costs ⓘ | 10 | 8 | 7 | 6 | 4 | 4 | 3 | 3 | 3 | 4 |
| Operating Profit ⓘ | -3 | 3 | 8 | 7 | 14 | 14 | 15 | 16 | 19 | 19 |
| Operating Profit Margin (%) | -10.0% | 5.0% | 21.0% | 23.0% | 42.0% | 42.0% | 42.0% | 52.0% | 59.0% | 63.0% |
| Other Income ⓘ | 3 | 2 | 2 | 1 | 1 | 0 | 0 | 1 | 1 | 1 |
| Interest ⓘ | 7 | 6 | 6 | 5 | 5 | 4 | 3 | 1 | 1 | 0 |
| Depreciation ⓘ | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 3 | 3 | 4 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5 | 0 | 0 |
| Profit Before Tax ⓘ | -10 | -4 | 1 | 0 | 7 | 6 | 8 | 8 | 16 | 16 |
| Tax ⓘ | -6 | 0 | 0 | 0 | 1 | 0 | 2 | 3 | 5 | 4 |
| Profit After Tax | -5 | -4 | 1 | 0 | 5 | 6 | 6 | 5 | 11 | 11 |
| PAT Margin (%) | -17.0% | -7.0% | 2.0% | 0.0% | 16.0% | 18.0% | 18.0% | 18.0% | 34.0% | 37.0% |
| Adjusted EPS (₹) | -1.9 | -1.7 | 0.3 | 0.1 | 2.1 | 2.3 | 2.5 | 2.2 | 4.4 | 4.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 114% | 91% | 92% |
| 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 | 89 | 85 | 88 | 88 | 93 | 98 | 105 | 109 | 110 | 130 |
| Share Capital ⓘ | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 13 |
| Reserves ⓘ | 77 | 73 | 75 | 75 | 80 | 86 | 92 | 96 | 97 | 118 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 40 | 35 | 28 | 28 | 22 | 13 | 5 | 3 | 0 | 0 |
| Long Term Debt | 29 | 26 | 19 | 25 | 16 | 9 | 2 | 0 | 0 | 0 |
| Short Term Debt | 11 | 8 | 9 | 3 | 6 | 4 | 3 | 3 | 0 | 0 |
| Trade Payables | 6 | 25 | 3 | 5 | 3 | 2 | 2 | 2 | 1 | 1 |
| Others Liabilities ⓘ | 23 | 26 | 28 | 25 | 24 | 20 | 17 | 13 | 19 | 21 |
| Total Liabilities ⓘ | 158 | 170 | 147 | 146 | 141 | 133 | 128 | 127 | 130 | 152 |
Fixed Assets | ||||||||||
| Gross Block | 157 | 158 | 104 | 106 | 106 | 108 | 109 | 98 | 104 | 112 |
| Accumulated Depreciation | 38 | 41 | 3 | 5 | 8 | 11 | 15 | 12 | 14 | 17 |
| Net Fixed Assetsⓘ | 120 | 117 | 101 | 101 | 99 | 97 | 95 | 85 | 90 | 95 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 2 | 0 |
| Investmentsⓘ | 0 | 0 | 19 | 19 | 19 | 18 | 7 | 7 | 7 | 27 |
| Inventories | 5 | 9 | 4 | 5 | 3 | 1 | 0 | 0 | 0 | 0 |
| Trade Receivables | 7 | 21 | 9 | 4 | 7 | 6 | 9 | 7 | 6 | 8 |
| Cash Equivalents | 2 | 4 | 4 | 6 | 5 | 3 | 5 | 3 | 10 | 6 |
| Others Assetsⓘ | 24 | 19 | 9 | 11 | 9 | 7 | 13 | 20 | 16 | 16 |
| Total Assets ⓘ | 158 | 170 | 147 | 146 | 141 | 133 | 128 | 127 | 130 | 152 |
| 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 ⓘ | 29 | 0 | 11 | 9 | 8 | 12 | 14 | 10 | 16 | 14 |
| PBT ⓘ | -10 | -4 | 1 | 0 | 7 | 6 | 8 | 8 | 16 | 16 |
| Adjustment ⓘ | 8 | 8 | 9 | 8 | 7 | 7 | 6 | 3 | 3 | 4 |
| Changes in Working Capital ⓘ | 29 | -3 | -0 | 0 | -5 | 0 | -3 | 0 | -0 | -3 |
| Tax Paid ⓘ | 2 | -1 | 1 | 0 | 0 | -1 | 3 | -2 | -3 | -3 |
| Cash Flow From Investing Activity ⓘ | -18 | 8 | -2 | -2 | 1 | -2 | 0 | -4 | 3 | -27 |
| Capex | -1 | 0 | -2 | -2 | 0 | -2 | -1 | -4 | 2 | -6 |
| Net Investments | 0 | 0 | 0 | 0 | -1 | 0 | 1 | 0 | 0 | -21 |
| Others ⓘ | -17 | 9 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | -18 | -7 | -9 | -5 | -10 | -12 | -10 | -7 | -13 | 10 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | -5 | 6 | -9 | -7 | -7 | -2 | 0 | 0 |
| Interest Paid ⓘ | -6 | -6 | -5 | -4 | -4 | -3 | -2 | -1 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -10 | -10 |
| Others ⓘ | -12 | -2 | 0 | -6 | 3 | -2 | -1 | -3 | -3 | 0 |
| Net Cash Flow ⓘ | -7 | 1 | 0 | 2 | -1 | -2 | 3 | -2 | 6 | -3 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -4.82 | -4.93 | 0.82 | 0.17 | 5.72 | 6.12 | 6.14 | 5.13 | 10.07 | 9.27 |
| ROCE (%) | -2.32 | 1.56 | 5.23 | 4.27 | 9.26 | 8.22 | 9.38 | 8.02 | 15.03 | 13.31 |
| Asset Turnover Ratio | 0.17 | 0.37 | 0.24 | 0.22 | 0.23 | 0.24 | 0.26 | 0.25 | 0.25 | 0.22 |
| PAT to CFO Conversion(x) | N/A | N/A | 11 | N/A | 1.6 | 2 | 2.33 | 2 | 1.45 | 1.27 | Working Capital Days |
| Receivable Days | 124 | 85 | 148 | 76 | 65 | 77 | 79 | 92 | 74 | 86 |
| Inventory Days | 57 | 42 | 65 | 52 | 44 | 24 | 7 | 0 | 0 | 0 |
| Payable Days | 271 | 155 | 505 | 235 | 376 | 244 | 225 | 828 | 0 | 0 |
Taneja Aerospace & Aviation (TAAL) is a part of the Pune based Indian Seamless group and was established in 1994 as the first private sector company in the country to manufacture general aviation i.e. non-military aircraft. The company’s vision at the time was to create a nucleus facility for the development of an aeronautical industry in India and in particular to promote affordable general aviation in the country. To kick-off this process, TAAL entered into a collaboration with Partenavia of Italy to manufacture the six-seat twin piston-engine P68C aircraft and the eleven-seat twin turbo-prop Viator aircraft.
While TAAL continues to manufacture Light Transport and Trainer Aircraft, the company has since diversified its activities and has established a significant presence in many segments of the aviation and aeronautical industries in India.
TAAL is headquartered at Bangalore, which is the hub of the Indian Aviation Industry (Bangalore is also internationally famous as a software development and engineering design centre).
TAAL has three distinct Business Divisions, namely, Aerostructures, Airfield & MRO and Aircraft Sales and Support. Each division is run as an independent profit center by a dedicated Business Head.
Aerostructures Division
This business has evolved from the initial business of the company, which was to manufacture the Partenavia P68C, six seat, twin-engine aircraft in India.
The company currently manufactures aero structures for Hindustan Aeronautics Limited (HAL), Indian Space Research Organization (ISRO), National Aerospace Laboratories (NAL) Aeronautical Development Establishment (ADE), and Number of modifications on Indian Navy and Air force Helicopters and Aircraft. Of these, the largest structures that they manufacture are for ISRO where the company builds most of the structural assemblies for the Booster rockets of the GSLV program. It has also built major structures of 14 seat Saras aircraft developed by NAL.
Airfield & MRO Division
TAAL has entered into an Airfield & MRO Division facility agreement with Air Works India (Engg) for establishment of commercial Aircraft Maintenance and Operating Airfield & MRO Division services at TAAL’s private airfield (Licensed) at Hosur, near Bangalore. The runway at this airfield is capable of accepting Airbus A 320 and Boeing 737 Series class of aircraft and the hanger is capable of accommodating Narrow Body aircraft. TAAL has DGCA Maintenance approval under CAR 145 for Maintenance of Cessna Jet and other Light Transport Aircraft.
Aircraft Sales & Services Division
TAAL represents the Cessna Aircraft Company for their Citation range of Business Jets in India (since 1995). This is a stand-alone marketing division that is also supported by an operations arm that provides turnkey Operations and Maintenance support for Cessna Business Jets in India.
In addition, TAAL provides consulting support to help potential customers evaluate their flight and travel requirements and thereby find an appropriate solution.
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
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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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