Tube Investments of India Ltd
Tube Investments of India Limited (TII) is one of India’s leading manufacturers of a wide range of products for major industries such as Automotive, Railway, Construction, Mining, Agriculture, etc. The Company’s 3 main verticals are Engineering, Metal Formed Products and Bicycles. In line with its growth strategies, the Company has forayed into TMT bars and Truck Body Building business and is additionally exploring opportunities in optic lens and other vision systems for the Auto industry. [1]
- Market Cap ₹ 76,362 Cr.
- Current Price ₹ 3,948
- High / Low ₹ 4,125 / 2,622
- Stock P/E 87.1
- Book Value ₹ 229
- Dividend Yield 0.09 %
- ROCE 31.6 %
- ROE 27.0 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 44.9% CAGR over last 5 years
Cons
- Stock is trading at 17.3 times its book value
- Earnings include an other income of Rs.897 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Steel Industry: Steel - Large
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
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0 | 4,479 | 5,000 | 5,773 | 4,750 | 6,083 | 12,447 | 14,965 | 16,178 | |
0 | 4,073 | 4,626 | 5,240 | 4,169 | 5,442 | 10,997 | 13,081 | 14,190 | |
Operating Profit | 0 | 406 | 374 | 533 | 582 | 641 | 1,450 | 1,883 | 1,988 |
OPM % | 9% | 7% | 9% | 12% | 11% | 12% | 13% | 12% | |
0 | 41 | 55 | 62 | 40 | 70 | 147 | 318 | 897 | |
Interest | 0 | 77 | 62 | 56 | 34 | 47 | 99 | 58 | 49 |
Depreciation | 0 | 149 | 154 | 162 | 185 | 251 | 347 | 396 | 475 |
Profit before tax | 0 | 221 | 214 | 378 | 403 | 412 | 1,152 | 1,748 | 2,362 |
Tax % | 21% | 27% | 34% | 22% | 26% | 14% | 24% | ||
0 | 174 | 156 | 251 | 313 | 305 | 991 | 1,325 | 1,926 | |
EPS in Rs | 7.86 | 12.81 | 16.31 | 14.85 | 39.85 | 49.48 | 68.35 | ||
Dividend Payout % | 0% | 17% | 20% | 21% | 24% | 9% | 7% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 25% |
3 Years: | 47% |
TTM: | 11% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 45% |
3 Years: | 44% |
TTM: | 9% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 60% |
3 Years: | 49% |
1 Year: | 43% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 23% |
3 Years: | 25% |
Last Year: | 27% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|
Equity Capital | 0 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
Reserves | -0 | 1,169 | 1,254 | 1,457 | 1,715 | 2,152 | 3,052 | 3,931 | 4,405 |
0 | 851 | 776 | 611 | 414 | 1,972 | 871 | 726 | 821 | |
0 | 1,097 | 1,263 | 1,263 | 932 | 4,892 | 4,932 | 5,543 | 7,039 | |
Total Liabilities | 0 | 3,135 | 3,312 | 3,349 | 3,080 | 9,036 | 8,874 | 10,220 | 12,284 |
0 | 1,306 | 1,358 | 1,429 | 1,515 | 3,477 | 3,324 | 3,593 | 4,278 | |
CWIP | 0 | 34 | 90 | 69 | 58 | 135 | 128 | 191 | 209 |
Investments | 0 | 202 | 134 | 132 | 186 | 369 | 542 | 729 | 1,630 |
0 | 1,593 | 1,730 | 1,719 | 1,321 | 5,054 | 4,880 | 5,707 | 6,168 | |
Total Assets | 0 | 3,135 | 3,312 | 3,349 | 3,080 | 9,036 | 8,874 | 10,220 | 12,284 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|
-0 | 383 | 409 | 493 | 596 | 268 | 896 | 1,386 | |
0 | 316 | -181 | -196 | -246 | -63 | -79 | -850 | |
0 | -685 | -291 | -280 | -284 | 286 | -921 | -75 | |
Net Cash Flow | 0 | 14 | -63 | 17 | 66 | 491 | -104 | 461 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|
Debtor Days | 50 | 51 | 41 | 40 | 77 | 52 | 52 | |
Inventory Days | 101 | 93 | 84 | 75 | 111 | 58 | 50 | |
Days Payable | 107 | 117 | 96 | 94 | 226 | 103 | 86 | |
Cash Conversion Cycle | 44 | 26 | 29 | 22 | -38 | 8 | 16 | |
Working Capital Days | 33 | 18 | 21 | 18 | -90 | -17 | 18 | |
ROCE % | 26% | 13% | 20% | 21% | 14% | 27% | 32% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 1d
- Announcement Under Regulation 30-Fund Raising In TI Clean Mobility Private Limited 6 May
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 4 May
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
30 Apr - Of Conference Call for Analysts and investors.
- Board Meeting Intimation for Approval Of Audited Standalone And Consolidated Financial Results, Recommendation Of Final Dividend And Approval Of Long-Term Borrowings 30 Apr
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Concalls
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Feb 2024Transcript PPT
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Oct 2023Transcript PPT
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Aug 2023TranscriptPPT
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May 2023TranscriptPPT
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Feb 2022TranscriptPPT
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Oct 2021TranscriptPPT
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Jun 2021TranscriptPPT
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Mar 2021TranscriptPPT
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Oct 2020TranscriptPPT
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Sep 2020TranscriptPPT
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Jul 2020TranscriptPPT
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May 2020TranscriptPPT
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Jan 2020TranscriptPPT
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Dec 2019Transcript PPT
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Nov 2019TranscriptNotesPPT
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Jul 2019TranscriptPPT
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May 2019TranscriptPPT
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Feb 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Aug 2018TranscriptPPT
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May 2018TranscriptPPT
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Feb 2018TranscriptPPT
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Nov 2017Transcript PPT
Engineering Division (~29% in FY22 v/s 44% in FY20) ** [1] [2]
The Engineering Segment of the Company consists of cold rolled steel strips and precision steel tubes viz., Cold Drawn Welded tubes (CDW) and Electric Resistance Welded tubes (ERW). It is also engaged in the manufacture of large diameter welded tubes mainly for non-auto applications which are largely imported. [3] It is the market leader and preferred Indian supplier in CDW Tubes.** [4]