Tirupati Starch&Chem

₹174 3.2 | 1.9%

WEBSITE BSE:524582 NSE : TIRUPATI STA 18 May, 12:50

Market Cap ₹0 Cr.

Stock P/E 25.8

P/B 3.1

Current Price ₹174

Book Value ₹ 55.3

Face Value 10

52W High ₹207.3

Dividend Yield 0%

52W Low ₹ 65

Edit Ratio

Tirupati Starch&Chem Research see more...

Overview Inc. Year: 1985Industry: Consumer Food

Tirupati Starch & Chemicals Limited (TSCL) is a leading company in the Wet Corn Process industry, located at Village-Sejwaya Ghatabillod, near Indore, Madhya Pradesh. Established in 1985, TSCL began production of normal starch, X-pharma grade starch, and dextrines in 1989. The company expanded in 1996, producing Dextrose Monohydrate & Dextrose Anhydrous IP/BP/USP.The company’s premises are designed to meet the specific requirements of its operations, with R.C.C structures and industrial flooring in all process areas.TSCL was conceived and promoted by Dr. Damodar Modi, who practiced medicine in Iran for 8 years under Indian Government deputation before starting the company. He has over 27 years of experience in the specialty starch industry and oversees production and sales of Dextrose. Other key figures include Mr. Yogesh Agrawal, who has been with TSCL for 20 years and manages the Sales division, and Mr. B.K. Goyal, who oversees the Purchase of Maize.

Tirupati Starch&Chem Share Price

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Tirupati Starch&Chem Quarterly Results

#(Fig in Cr.)	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Sep 2022	Mar 2023
Net Sales	32	52	57	59	64	79	84	90	93	86
Other Income	0	0	0	-0	0	0	0	1	0	0
Total Income	32	52	57	59	64	79	84	92	93	86
Total Expenditure	35	49	53	53	61	75	80	83	88	79
Operating Profit	-3	3	3	6	3	4	5	9	5	8
Interest	1	1	1	1	1	1	1	2	2	2
Depreciation	1	1	2	1	1	1	1	2	1	1
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	-5	1	1	3	1	1	2	5	1	4
Provision for Tax	0	0	0	0	0	0	0	1	0	0
Profit After Tax	-5	1	1	3	1	1	2	4	1	4
Adjustments	0	-0	-0	0	0	0	0	0	0	0
Profit After Adjustments	-5	1	1	3	1	1	2	4	1	4
Adjusted Earnings Per Share	-8	1.9	2.2	4.8	0.7	2.1	3	6.2	1.1	4.9

Tirupati Starch&Chem Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	59	61	59	158	175	199	227	272	200	318	364	353
Other Income	1	1	1	1	5	1	1	1	0	2	1	1
Total Income	59	62	60	159	179	200	228	272	200	320	365	355
Total Expenditure	58	58	55	153	171	189	216	264	191	299	343	330
Operating Profit	1	4	4	6	9	11	11	9	9	21	22	27
Interest	1	1	1	6	5	4	3	2	3	6	8	7
Depreciation	1	1	2	4	5	5	5	5	5	6	6	5
Exceptional Income / Expenses	0	0	0	0	1	0	0	0	0	0	0	0
Profit Before Tax	-1	2	1	-5	0	2	4	2	1	9	8	12
Provision for Tax	-0	0	2	-3	-1	0	1	0	0	1	1	1
Profit After Tax	-1	1	-1	-2	1	2	3	1	1	8	7	11
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	-1	1	-1	-2	1	2	3	1	1	8	7	11
Adjusted Earnings Per Share	-1.3	1.9	-2	-2.5	1.9	2.9	5.3	1.9	1.5	11.8	8.1	15.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	14%	10%	13%	20%
Operating Profit CAGR	5%	35%	15%	36%
PAT CAGR	-13%	91%	28%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	166%	61%	39%	39%
ROE Average	16%	15%	14%	6%
ROCE Average	13%	12%	12%	9%

Tirupati Starch&Chem Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	12	15	13	12	13	17	21	22	28	36	46
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	15	28	27	37	38	12	14	14	50	68	64
Other Non-Current Liabilities	1	1	3	4	20	40	46	1	10	3	4
Total Current Liabilities	9	13	39	51	35	38	58	102	46	51	55
Total Liabilities	36	57	82	105	105	108	138	140	133	158	169
Fixed Assets	7	6	61	59	64	65	60	55	71	61	55
Other Non-Current Assets	10	33	1	5	1	1	11	20	16	26	53
Total Current Assets	19	18	20	41	40	42	67	65	47	71	61
Total Assets	36	57	82	105	105	108	138	140	133	158	169

Tirupati Starch&Chem Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	0	1	1	1	0	0	0	0	0	0	0
Cash Flow from Operating Activities	1	3	17	-4	14	33	5	12	-35	-1	23
Cash Flow from Investing Activities	-13	-21	-20	-6	-5	-5	-9	-9	-6	-6	-25
Cash Flow from Financing Activities	13	18	3	10	-8	-28	4	-3	41	7	9
Net Cash Inflow / Outflow	0	0	0	-0	-0	0	0	-0	-0	-0	8
Closing Cash & Cash Equivalent	1	1	1	0	0	0	0	0	0	0	8

Tirupati Starch&Chem Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	-1.35	1.95	-1.96	-2.49	1.87	2.91	5.32	1.89	1.47	11.8	8.12
CEPS(Rs)	0.27	3.67	0.82	4.89	9.38	10.62	13.22	9.8	8.78	20.16	15.07
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	19.76	21.71	19.53	17.04	21.37	28.65	33.96	35.85	39.68	51.49	56.88
Core EBITDA Margin(%)	0.92	4.65	6.33	3.37	2.18	4.43	4.77	2.96	4.58	6.11	5.77
EBIT Margin(%)	0.33	4.13	4.44	1.03	2.69	2.89	2.92	1.44	2.09	4.81	4.39
Pre Tax Margin(%)	-1.54	2.46	2.16	-2.93	0.02	1.02	1.81	0.57	0.53	2.97	2.09
PAT Margin (%)	-1.33	1.85	-2.01	-0.96	0.62	0.81	1.43	0.42	0.51	2.6	1.8
Cash Profit Margin (%)	0.26	3.48	0.84	1.88	3.11	2.95	3.54	2.2	3.08	4.43	3.35
ROA(%)	-2.82	2.55	-1.72	-1.62	1.09	1.66	2.63	0.83	0.75	5.68	4.02
ROE(%)	-6.6	9.4	-9.49	-13.6	9.76	11.63	16.99	5.41	4.13	25.9	16.01
ROCE(%)	0.78	6.23	4.86	2.69	7.78	12	15.2	8.92	6.61	15.68	12.85
Receivable days	26.71	26.12	36.63	30.3	35.82	31.5	46.9	43.74	47.32	31.48	31.81
Inventory Days	35.05	40.32	58.41	33.41	32.32	23.44	25.3	31.73	40.06	27.48	23.27
Payable days	15.21	24.18	125.11	81.83	68.3	53.19	72.44	115.11	162.21	56.69	38.79
PER(x)	0	2.58	0	0	9.13	13.83	6.78	6.75	23.55	5.68	7.82
Price/Book(x)	0.3	0.23	0.62	1.18	0.8	1.41	1.06	0.36	0.87	1.3	1.12
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	0.4	0.68	0.85	0.42	0.34	0.25	0.19	0.11	0.39	0.39	0.37
EV/Core EBITDA(x)	19.85	11.31	11.69	10.82	6.92	4.5	3.84	3.35	8.42	5.81	6.16
Net Sales Growth(%)	3	4.29	-3.33	167.13	10.51	13.96	14.19	19.5	-26.38	59.1	14.47
EBIT Growth(%)	-82.59	1193.37	-0.91	-38.37	205.59	28.34	4.38	-41.02	6.69	266.5	4.39
PAT Growth(%)	-407.84	244.45	-200.35	-27.07	175.36	55.28	82.76	-64.5	-10.82	705.7	-20.51
EPS Growth(%)	-407.84	244.44	-200.35	-27.07	175.37	55.28	82.75	-64.5	-22.38	705.71	-31.23
Debt/Equity(x)	1.71	2.57	3.15	4.45	3.8	1.49	1.12	1.01	1.97	2.13	1.95
Current Ratio(x)	2.09	1.37	0.52	0.81	1.14	1.1	1.17	0.64	1.01	1.39	1.11
Quick Ratio(x)	1.32	0.81	0.23	0.47	0.71	0.76	0.85	0.36	0.68	0.75	0.86
Interest Cover(x)	0.18	2.47	1.94	0.26	1.01	1.54	2.64	1.66	1.34	2.61	1.91
Total Debt/Mcap(x)	5.61	12.33	5.72	4.33	4.75	1.06	1.06	2.84	2.26	1.63	1.75

Tirupati Starch&Chem Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	63.01	63.03	63	63	67.98	67.99	67.99	67.99	68.05	73.04
FII	0	0	0	0	0	0	0	0	0	0
DII	0.35	0.35	0.35	0.35	0.3	0.3	0.3	0.3	0.3	0.26
Public	36.64	36.62	36.65	36.65	31.71	31.71	31.71	31.71	31.65	26.71
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.44	0.44	0.44	0.44	0.55	0.55	0.55	0.55	0.55	0.7
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.26	0.26	0.26	0.26	0.26	0.26	0.26	0.26	0.26	0.26
Others	0	0	0	0	0	0	0	0	0	0
Total	0.7	0.7	0.7	0.7	0.81	0.81	0.81	0.81	0.81	0.96

Pros

Company has delivered good profit growth of 28% CAGR over last 5 years
Debtor days have improved from 56.69 to 38.79days.
Company has reduced debt.

Cons

Stock is trading at 3.1 times its book value.

* 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.

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Tirupati Starch&Chem

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Tirupati Starch&Chem Research see more...

Overview Inc. Year: 1985Industry: Consumer Food

Tirupati Starch&Chem Share Price

Alert Data

Quarterly Price

Peer Comparison

Tirupati Starch&Chem Quarterly Results

Tirupati Starch&Chem Profit & Loss

Growth Rates

Tirupati Starch&Chem Balance Sheet

Tirupati Starch&Chem Cash Flow

Tirupati Starch&Chem Ratios

Tirupati Starch&Chem Shareholding Pattern

Tirupati Starch&Chem News

Top Unlisted Companies & InstaBuy Companies

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