WEBSITE BSE:504961 NSE: TATA YODOGAW Inc. Year: 1968 Industry: Engineering - Industrial Equipments My Bucket: Add Stock
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1. Business Overview
Tayo Rolls Ltd. operates in the Engineering - Industrial Equipments sector. Its core business involves the manufacturing and supply of various types of rolls for industrial applications. These specialized rolls are critical components used in diverse industries such as steel, non-ferrous metals, paper, cement, and mining, primarily for processes like hot rolling, cold rolling, crushing, and forming. The company's business model is B2B, serving other industrial manufacturers and processing plants by providing high-precision, durable, and application-specific rolls. Tayo Rolls Ltd. generates revenue through the direct sale of these manufactured rolls and potentially through related services like customization, repair, and refurbishment.
2. Key Segments / Revenue Mix
Specific segment breakdowns for Tayo Rolls Ltd. are not readily available in public domain information. However, based on its industry and product, the company's revenue is primarily derived from the manufacturing and sale of industrial rolls. These products likely cater to different end-user industries, which could implicitly form operational segments (e.g., rolls for ferrous industry, rolls for non-ferrous industry, rolls for paper industry, etc.), but the company generally operates as a single specialized product manufacturer.
3. Industry & Positioning
The industrial rolls manufacturing industry is a specialized niche within the broader engineering and capital goods sector. It is characterized by high precision requirements, material science expertise, and often long product life cycles. The market structure includes a mix of large global players and smaller, specialized domestic manufacturers. Tayo Rolls Ltd. positions itself as a specialized manufacturer of industrial rolls, likely competing on product quality, customization capabilities, and technical expertise. As an Indian company, it likely has a strong presence in the domestic market while potentially also serving export markets. Its positioning relies on its ability to meet the stringent quality and performance demands of heavy industries.
4. Competitive Advantage (Moat)
Tayo Rolls Ltd. may derive competitive advantages from several factors:
Specialized Expertise: Decades of experience in metallurgy, manufacturing processes, and roll design for critical industrial applications.
Switching Costs: For end-user industries, changing roll suppliers can involve extensive testing, recalibration, and potential production downtime, creating high switching costs.
Product Reliability & Reputation: Consistent delivery of high-quality, durable rolls builds a strong reputation and trust among industrial clients.
Customization Capabilities: Ability to manufacture rolls tailored to specific operational requirements of diverse industries.
5. Growth Drivers
Key factors that can drive growth for Tayo Rolls Ltd. over the next 3-5 years include:
Infrastructure Development: Increased capital expenditure in core sectors like steel, cement, and power, driving demand for new rolling mills and replacement rolls.
Industrial Modernization & Capacity Expansion: Upgrades and expansions in existing industrial plants requiring specialized and higher-performance rolls.
"Make in India" Initiative: Government thrust on domestic manufacturing potentially benefiting local industrial equipment suppliers.
Technological Advancements: Development of new alloys and manufacturing processes for rolls that offer enhanced performance and longevity.
Export Opportunities: Tapping into global markets for specialized industrial rolls, particularly in developing economies.
6. Risks
Cyclicality of End-User Industries: Demand for industrial rolls is highly dependent on the CAPEX cycles and production levels of sectors like steel, paper, and cement, making the company susceptible to economic downturns in these sectors.
Raw Material Price Volatility: Significant fluctuations in the prices of critical raw materials (e.g., special steels, alloys) can impact manufacturing costs and profitability.
Intense Competition: Competition from both domestic and international players, including larger global manufacturers, could exert pressure on pricing and market share.
Technological Obsolescence: Failure to continuously invest in R&D and upgrade manufacturing technologies could lead to products becoming outdated.
Foreign Exchange Fluctuations: For companies involved in exports or importing raw materials, currency volatility can affect profitability.
7. Management & Ownership
Tayo Rolls Ltd. is typically driven by its promoters, a common structure for many Indian companies. Promoter groups generally hold a significant stake, which often signifies a long-term strategic vision and direct involvement in the company's operations. The management team likely comprises professionals with specialized expertise in engineering, metallurgy, and industrial manufacturing, focusing on operational efficiency, product quality, and client relationships. Ownership is usually diversified among promoters, institutional investors, and the public.
8. Outlook
The outlook for Tayo Rolls Ltd. is tied to the broader industrial growth and infrastructure development trajectory, particularly in India. A robust domestic industrial economy, coupled with government initiatives promoting manufacturing and infrastructure, could provide a stable demand environment for its specialized products. Continued investment in R&D to enhance product performance and expand into new application areas would be crucial for sustained growth. However, the company faces inherent risks from the cyclical nature of its end-user industries and the volatility of raw material prices. Competition, both domestic and international, also necessitates continuous focus on operational excellence and technological upgrades. While potential for growth exists from industrial expansion, economic slowdowns or significant shifts in raw material costs could impact its financial performance.
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Market Cap ₹92 Cr.
Stock P/E -27.8
P/B -0.2
Current Price ₹89.4
Book Value ₹ -476.6
Face Value 10
52W High ₹0
Dividend Yield 0%
52W Low ₹ 0
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Expenditure | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 |
| Adjusted Earnings Per Share | -0.8 | -0.8 | -0.8 | -0.8 | -0.8 | -0.8 | -0.8 | -0.8 | -0.8 | -0.8 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 152 | 142 | 126 | 42 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 1 | 1 | 2 | 6 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 153 | 143 | 128 | 48 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Expenditure | 167 | 174 | 165 | 82 | 19 | 10 | 3 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | -15 | -31 | -37 | -34 | -18 | -9 | -2 | -0 | -0 | -0 | -0 | 0 |
| Interest | 19 | 16 | 14 | 17 | 9 | 5 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 23 | 13 | 17 | 7 | 5 | 6 | 6 | 3 | 3 | 3 | 3 | 4 |
| Exceptional Income / Expenses | -19 | -8 | -89 | -25 | 6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -75 | -68 | -157 | -83 | -26 | -20 | -8 | -4 | -3 | -3 | -3 | -4 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -75 | -68 | -157 | -83 | -26 | -20 | -8 | -4 | -3 | -3 | -3 | -4 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -75 | -68 | -157 | -83 | -26 | -20 | -8 | -4 | -3 | -3 | -3 | -4 |
| Adjusted Earnings Per Share | -73.1 | -65.9 | -152.8 | -80.8 | -25 | -19.5 | -7.7 | -3.5 | -3.4 | -3.4 | -3.2 | -3.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | 0% | -100% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 26% | 9% | 12% | 8% |
| ROE Average | 0% | 0% | 0% | 0% |
| ROCE Average | 0% | 0% | 0% | -76% |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 57 | 52 | -340 | -423 | -448 | -468 | -476 | -477 | -481 | -484 | -487 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 37 | 20 | 255 | 280 | 358 | 333 | 333 | 333 | 333 | 333 | 333 |
| Other Non-Current Liabilities | 26 | 24 | 15 | 7 | 7 | 7 | 13 | 13 | 0 | 0 | 0 |
| Total Current Liabilities | 190 | 195 | 238 | 236 | 169 | 203 | 220 | 211 | 211 | 211 | 211 |
| Total Liabilities | 309 | 291 | 168 | 101 | 86 | 75 | 90 | 80 | 63 | 60 | 56 |
| Fixed Assets | 135 | 139 | 69 | 62 | 47 | 41 | 36 | 32 | 29 | 25 | 22 |
| Other Non-Current Assets | 37 | 34 | 16 | 14 | 15 | 14 | 23 | 22 | 5 | 5 | 5 |
| Total Current Assets | 138 | 118 | 83 | 24 | 24 | 21 | 32 | 25 | 29 | 29 | 29 |
| Total Assets | 309 | 291 | 168 | 101 | 86 | 75 | 90 | 80 | 63 | 60 | 56 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 16 | 27 | 6 | 5 | 8 | 2 | 1 | 2 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | -30 | -25 | -14 | -15 | -21 | -5 | -0 | -2 | -0 | -0 | -0 |
| Cash Flow from Investing Activities | -8 | -27 | -3 | -2 | -1 | 0 | 1 | -0 | 0 | 0 | 0 |
| Cash Flow from Financing Activities | 49 | 31 | 16 | 20 | 17 | 3 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Inflow / Outflow | 12 | -21 | -1 | 3 | -5 | -1 | 0 | -2 | -0 | -0 | -0 |
| Closing Cash & Cash Equivalent | 27 | 6 | 5 | 8 | 2 | 1 | 2 | 0 | 0 | 0 | 0 |
| # | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -73.14 | -65.9 | -152.85 | -80.84 | -25 | -19.45 | -7.73 | -3.45 | -3.39 | -3.36 | -3.22 |
| CEPS(Rs) | -51.15 | -53.19 | -136.52 | -74.07 | -20.34 | -13.72 | -2.26 | -0.05 | -0 | -0 | -0 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | -112.08 | -178.41 | -331.08 | -411.89 | -436.9 | -456.34 | -463.67 | -465.06 | -468.45 | -471.8 | -475.02 |
| Core EBITDA Margin(%) | -9.28 | -20.62 | -27.94 | -85.71 | -5329.26 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBIT Margin(%) | -33.74 | -33.21 | -102.3 | -141.7 | -4733.42 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pre Tax Margin(%) | -45.05 | -43.28 | -112 | -177.86 | -7366.18 | 0 | 0 | 0 | 0 | 0 | 0 |
| PAT Margin (%) | -45.05 | -43.28 | -112 | -177.86 | -7366.18 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Profit Margin (%) | -31.51 | -34.93 | -100.04 | -162.97 | -5993.68 | 0 | 0 | 0 | 0 | 0 | 0 |
| ROA(%) | -24.66 | -22.54 | -68.31 | -61.6 | -27.46 | -24.79 | -9.58 | -4.17 | -4.87 | -5.62 | -5.71 |
| ROE(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ROCE(%) | -29.32 | -29.28 | -140.39 | -632.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivable days | 91.71 | 99.92 | 93.68 | 120.13 | 981.93 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | 106.38 | 124.73 | 123.44 | 176.98 | 8043.05 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 412.96 | 306.26 | 293.01 | 429.45 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | -0.41 | -0.31 | -0.12 | -0.13 | -0.13 | -0.08 | -0.04 | -0.08 | -0.26 | -0.11 | -0.19 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 2.12 | 2.83 | 3.26 | 10.75 | 1359.83 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Core EBITDA(x) | -22.18 | -12.98 | -11 | -13.37 | -26.67 | -49.51 | -193.46 | 0 | 0 | 0 | 0 |
| Net Sales Growth(%) | -14.35 | -6.7 | -11.01 | -66.53 | -99.17 | -100 | 0 | 0 | 0 | 0 | 0 |
| EBIT Growth(%) | -264.3 | 7.68 | -176.03 | 53.87 | 75.05 | 7.69 | 48.23 | 55.65 | 0.58 | 0.88 | 4.03 |
| PAT Growth(%) | -122.43 | 9.89 | -131.94 | 47.11 | 69.07 | 22.2 | 60.26 | 55.33 | 1.97 | 0.88 | 4.03 |
| EPS Growth(%) | -122.43 | 9.89 | -131.93 | 47.11 | 69.07 | 22.2 | 60.26 | 55.33 | 1.97 | 0.87 | 4.03 |
| Debt/Equity(x) | 2.29 | 2.21 | -1.11 | -0.96 | -0.95 | -0.91 | -0.9 | -0.9 | -0.89 | -0.88 | -0.88 |
| Current Ratio(x) | 0.73 | 0.61 | 0.35 | 0.1 | 0.14 | 0.1 | 0.15 | 0.12 | 0.14 | 0.14 | 0.14 |
| Quick Ratio(x) | 0.46 | 0.31 | 0.19 | 0.07 | 0.1 | 0.06 | 0.11 | 0.08 | 0.1 | 0.1 | 0.1 |
| Interest Cover(x) | -2.98 | -3.3 | -10.54 | -3.92 | -1.8 | -3.21 | -147.83 | -70.88 | 0 | 0 | 0 |
| Total Debt/Mcap(x) | 2.79 | 2.01 | 9.64 | 7.35 | 7.53 | 10.95 | 21.08 | 10.98 | 3.46 | 8.17 | 4.66 |
| # | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 73.21 | 73.21 | 73.21 | 73.21 | 73.21 | 73.21 | 73.21 | 73.21 | 73.21 | 73.21 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 26.78 | 26.78 | 26.78 | 26.78 | 26.78 | 26.78 | 26.78 | 26.78 | 26.78 | 26.78 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 |
* The pros and cons are machine generated.
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