Tata Capital Ltd - Unlisted Shares
Fundamentals
- Current Price
- ₹1,050
- Market Cap
- ₹3,30,514.89 Cr
- ISIN
- INE976I01016
- Face Value
- ₹10
- P/E Ratio
- 105.76
- EPS
- ₹8.5
- P/B Ratio
- 14.38
- Book Value
- ₹62.5
- Debt / Equity Ratio
- 3.38
Key Financials
Profit & Loss
| Metric | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|
| Revenue from Operations | 18174.8 | 13628.8 | 10050.5 | 9835.4 |
| Growth % | 33% | 36% | 2% | 0 |
| Operating Expenses | 3939.0 | 3020.9 | 2,849.6 | 2823.1 |
| Growth % | 30% | 6% | 1% | 0 |
| Operating Profit | 14235.8 | 10607.9 | 7200.9 | 7012.3 |
| Op. Profit Margin % | 78.3% | 77.8% | 71.6% | 71.3% |
| Other Income | 23.5 | 8.6 | 202 | 152.3 |
| Finance Costs | 9568.2 | 6600.6 | 4889.0 | 5212.6 |
| Depreciation | 287.5 | 226.02 | 275.88 | 334.4 |
| Share in profit of associates | 11.6 | -146.7 | -109.6 | 2.72 |
| Profit Before Tax | 4392.0 | 3936.6 | 2347.7 | 1615.0 |
| Tax | 1065.07 | 990.79 | 546.91 | 370.3 |
| Tax % | 24.3% | 25% | 23% | 23% |
| Profit After Tax | 3326.96 | 2945.8 | 1800.8 | 1244.6 |
| Growth % | 12.9% | 63.6% | 44.7% | 0 |
| PAT % | 18.3% | 22% | 18% | 13% |
| Diluted EPS | 8.5 | 8.4 | 4.6 | 3.2 |
Company Financials
| Metric | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|
| Trade Receivables | 89.38 | 74.91 | 32.33 | 1674.15 |
| Cash & Cash Equivalents | 6,995.58 | 3,316.70 | 2,135.82 | 2,050.63 |
| Other Financial Assets | 166478.22 | 130041.76 | 97187.46 | 76388.42 |
| Total Financial Assets | 173563.18 | 133433.37 | 99355.61 | 80113.20 |
| Fixed Assets (incl. WIP) | 879.87 | 530.12 | 592 | 800 |
| Other Non Financial Assets | 2250.93 | 1662.61 | 2438.96 | 2016.66 |
| Title 7Total Non Financial Assets | 3130.80 | 2192.73 | 3030.67 | 2817.06 |
| Total Assets | 176693.98 | 135626.10 | 102386.28 | 82930.26 |
| Borrowings | 79142.88 | 54934.13 | 38639.92 | 31224.51 |
| Other Financial Liabilities | 72200.50 | 61895.44 | 50349.82 | 40416.01 |
| Total Financial Liabilities | 151343.38 | 116829.57 | 88989.74 | 71640.52 |
| Tax Liabilities (Deferred and Current) | 396.73 | 337.98 | 349.59 | 286.95 |
| Provisions | 106.83 | 99.46 | 73.02 | 58.49 |
| Other Non-Financial Liabilities | 50.83 | 33.92 | 137.94 | 137.51 |
| Total Non-Financial Liabilities | 768.49 | 647.86 | 560.55 | 482.95 |
| Equity Capital | 3703.05 | 3507.07 | 3463.35 | 3463.60 |
| Reserves | 19714.08 | 13832.79 | 8249.71 | 6509.40 |
| Total Equity | 23417.13 | 17339.86 | 11713.06 | 9973.00 |
| Non-controlling interest | 1164.98 | 808.81 | 1122.93 | 833.79 |
| Equity + Liabilities | 176693.98 | 135626.10 | 102386.28 | 82930.26 |
Shareholding Pattern
- Tata Sons Private Limited
- 92.83%%
- others
- 7.17%%
Strengths & Weaknesses
Strengths
- Strong Support from Tata Sons: Tata Sons, owning 92.83% of Tata Capital Limited (TCL), provides robust support to the group. TCL is vital to the Tata Group as its primary financial services arm, catering to the funding needs of group entities. With a Rs 6,097 crore capital infusion over five years, Tata Sons demonstrates its focus on TCL's growth.
- Improving Asset Quality:TCL’s Gross Stage III (GSIII) ratio improved to 1.5% as of March 2024, with a 74% provision coverage ratio. TCHFL also saw an improvement, with GSIII at 0.8% by June 2024.
- Diversified resource profile:As of September 30, 2023, TCL's borrowing mix included 41% non-convertible debentures, 39% term loans, 6% working capital loans, 8% commercial papers, and 6% external commercial borrowings. The group's diverse funding sources, including bank borrowings and short-term debt, allow them to secure competitive financing, supported by their association with the Tata group
Weaknesses
- Moderate Capitalization Level: Net Worth: Tata Capital’s net worth increased to ₹20,965 crore as of September 30, 2023, from ₹18,149 crore in March 2023. Despite this growth, the company continues to need external capital to sustain high growth. ₹594 crore was infused by Tata Sons in FY2023, followed by another ₹896 crore in FY2024. These infusions highlight the company's reliance on external funding to maintain its capital adequacy
- Gearing Ratio: Tata Capital’s gearing (debt-to-equity ratio) stood at 6.2x as of March 31, 2023. Although this reduced to 5.8x by September 30, 2023, it is still relatively high for an NBFC and shows a continued reliance on debt to finance its growth
About Tata Capital Ltd
Tata Capital Limited is a leading financial services company in India, operating as a subsidiary of Tata Sons Private Limited. Established in 2007, Tata Capital is the financial services arm of the Tata Group, one of India's largest and most diversified conglomerates.
Board of Directors
- Mr. Saurabh Agrawal - Chairman
- Mr. F N Subedar - Chairman
- Ms. Varsha Purandare - Chairman
- Mr. V S Radhakrishnan - Chairman
- Mr. Sujit Varma - Chairman
- Mr. Nagaraj Ijari - Chairman
- Ms. Aarthi Subramanian - Chairman
Senior Management
- Mr. Rakesh Bhatia - Chief Financial Officer
- Ms. Sarita Kamath - Head - Legal and Compliance & Company Secretary
- Mr. Rajiv Sabharwal - Managing Director & CEO
