External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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Equity Bottom-Up

<ul>
<li>Tata Metaliks (TML) is a subsidiary of Tata Steel, which started its commercial production in 1994.</li>
<li>TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes.</li>
<li>TML is currently in process of expanding its DI pipe capacity in two phases</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


Tata Metaliks (TML) is a subsidiary of Tata Steel, which started its commercial production in 1994.
TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes.
TML is currently in process of expanding its DI pipe capacity in two phases

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tata Metaliks (TML) - Volume Recovers Sequentially; Margin Stays Muted…

<ul><li>Tata Metaliks (TML) is a subsidiary of Tata Steel, which started its commercial production in 1994.</li><li>TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes.</li><li>TML is currently in process of expanding its DI pipe capacity in two phases </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Tata Metaliks (TML) is a subsidiary of Tata Steel, which started its commercial production in 1994.TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes.TML is currently in process of expanding its DI pipe capacity in two phases Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tata Metaliks - Volume Recovers Sequentially; Margin Stays Muted...

<ul><li>Tata Metaliks (TML) is a subsidiary of Tata Steel, which was established in 1990</li><li>TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes.</li><li>We value TML at Rs 975 i.e. 6.5x FY23E EV/EBITDA</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Tata Metaliks (TML) is a subsidiary of Tata Steel, which was established in 1990TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes.We value TML at Rs 975 i.e. 6.5x FY23E EV/EBITDAContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tata Metaliks: EBITDA Margins Impacted by Higher Raw Material Cost

<p>EBITDA was at of Rs 154 crore (vs. Rs 143 crore in Q4FY21, Rs 10 crore in Q1FY21). EBITDA margin was at 25.5%, up 380 bps QoQ, 2060 bps YoY Ensuing PAT was at Rs 95 crore (up 26% QoQ) past five years (from ~Rs 340 in July 2016 to ~Rs 1265 levels in July 2021). The first phase of DI pipe capacity expansion (of ~1 lakh tonne) is likely to be commissioned in Q4FY22. Second phase is likely to be commissioned in Q4FY23 (of ~1 lakh tonne). Post commissioning of both phases, TML would...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

EBITDA was at of Rs 154 crore (vs. Rs 143 crore in Q4FY21, Rs 10 crore in Q1FY21). EBITDA margin was at 25.5%, up 380 bps QoQ, 2060 bps YoY Ensuing PAT was at Rs 95 crore (up 26% QoQ) past five years (from ~Rs 340 in July 2016 to ~Rs 1265 levels in July 2021). The first phase of DI pipe capacity expansion (of ~1 lakh tonne) is likely to be commissioned in Q4FY22. Second phase is likely to be commissioned in Q4FY23 (of ~1 lakh tonne). Post commissioning of both phases, TML would...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tata Metaliks: Reports Best Ever Quarterly Profit

India

Tata Metaliks Ltd. manufactures foundry grade pig iron. The Company manufactures customized derivatives of pig iron for specific end-uses.

Tata Metaliks (TML IN)

Tata Metaliks (TML) - Volume Recovers Sequentially; Margin Stays Muted…

TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes.TML is currently in process of...

ICICI Securities Limited

Tata Metaliks - Volume Recovers Sequentially; Margin Stays Muted...

TML has a healthy balance-sheet. It is one of the few players in the steel pipe sector having a net cash position on its balance sheet

ICICI Securities Limited

Tata Metaliks: EBITDA Margins Impacted by Higher Raw Material Cost

Tata Metaliks (TML) is a subsidiary of Tata Steel, which was established in 1990. TML has manufacturing facilities in Kharagpur, West Bengal, which...

ICICI Securities Limited

Tata Metaliks: Reports Best Ever Quarterly Profit

EBITDA was at of Rs 154 crore (vs. Rs 143 crore in Q4FY21, Rs 10 crore in Q1FY21). EBITDA margin was at 25.5%, up 380 bps QoQ, 2060 bps YoY Ensuing...

ICICI Securities Limited