Sunday, September 19, 2021

Hindustan Tin Works Ltd (530315) – Reviving Tin CAN industry

Hindustan Tin Works Ltd (530315) closes   at ₹123.00  with  a  Fall  of   -0.20%   on    on    -September-2021  with formation of  a  Small Red   Candle    on Daily  Price Chart.

About the Company : Hindustan Tin Works is engaged mainly in the business of Manufacturing of Tin Cans, Printed/Lacquered Sheets, Components and trading in Tin Plates.

Sector Update :  Positive

Refinitiv  Average Score : 9 / 10

Financials : Hindustan Tin Works Ltd  has posted Net Sales / Revenue   of ₹326.00 Cr & Net Profit of   ₹15.00 Cr in FY2021 and expected to post Net Sales / Revenue   of ₹378.00 Cr & Net Profit of ₹19.00 Cr in FY2022 .

Valuations  : The Company is now Trading at X 0.90  of its  valuations of  FY2021 earnings with ~10% Discount  and  at X0.71 of its FY2022 earnings with ~29%  Discount.

EPS has improved from 7.32 in FY2020 to 14.00 in FY2021; Debt from ₹64.50 Cr to ₹87.30 Cr . Free Cash Flow will Turn Negative from ₹ 31.00 Cr to - ₹ 21.40Cr; and Book Value Per Share increased from ₹145.00 to ₹158.00 during the same period

Early Trend : The industry has been growing at a CAGR of 5-6 per cent. But with institutionalizing of retail, growth could be much higher in future.

Margin of Safety (1Yr Bond Yield: Value>1 ) is now  2.80   which  makes is attractive after ~180% dip in price. The  Equity Value Per Share ( Enterprise Value Method ) is  ₹119.50.

If We factor its FY2022 earnings/valuations, its Price arrives at ₹296.40

Disclaimer : We are / may going to take exposure shortly.

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