---
title: "Tata Metaliks Ltd(Merged) (TATAMETALI) — Share Price, Financials & Analysis"
symbol: "TATAMETALI"
company: "Tata Metaliks Ltd(Merged)"
canonical: "https://tapetide.com/stocks/TATAMETALI"
sector: "Commodities"
industry: "Ferrous Metals"
generated_at: "2026-09-13T20:39:24.051Z"
---

# Tata Metaliks Ltd(Merged) (TATAMETALI)

Canonical page: https://tapetide.com/stocks/TATAMETALI

## Company

- **Sector:** Commodities
- **Industry:** Ferrous Metals
- **Macro Sector:** Commodities
- **Stock Type:** DELISTED
- **Listed Since:** 2003-05-27
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** tatametaliks.com

## About

Tata Metaliks incorporated in 1990 as a subsidiary of Tata Steel, is one of India’s leading producers of high-quality Pig Iron (PI) and Ductile Iron Pipes (DIP).
Co. products find use in the water infrastructure industry and partly cast into PI for use in foundries. [1]

## Latest Price

## Key Insights

### Strengths

- Company is almost debt free.
- Company's working capital requirements have reduced from 50.0 days to 22.9 days

### Weaknesses

- Company has a low return on equity of 12.6% over last 3 years.
- Dividend payout has been low at 12.0% of profits over last 3 years
- Company's cost of borrowing seems high

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 39% | -21% | -13% |
| revenue growth | 3% | 17% | 11% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 526 | 661 | 603 | 645 | 690 | 808 | 666 | 877 | 790 | 926 | 650 | 755 |
| Expenses | 400 | 518 | 450 | 545 | 622 | 751 | 642 | 836 | 751 | 833 | 615 | 665 |
| Operating Profit | 126 | 143 | 153 | 100 | 68 | 57 | 24 | 41 | 39 | 93 | 35 | 90 |
| OPM % | 24 | 22 | 25 | 15 | 10 | 7 | 3.6 | 4.7 | 4.9 | 10 | 5 | 12 |
| Other Income | 2 | 3 | 3 | 3 | 3 | 38 | 3 | 5 | 2 | 4 | 3 | 3 |
| Interest | 4 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 10 | 9 | 11 | 10 |
| Depreciation | 15 | 16 | 16 | 16 | 15 | 15 | 18 | 19 | 19 | 22 | 21 | 22 |
| Profit before tax | 109 | 124 | 135 | 81 | 50 | 73 | 2 | 20 | 12 | 67 | 6 | 62 |
| Tax % | 31 | 39 | 30 | 32 | 29 | 28 | 29 | 29 | 23 | 17 | 26 | 28 |
| Net Profit | 75 | 75 | 95 | 55 | 36 | 52 | 1 | 14 | 9 | 56 | 5 | 44 |
| EPS in Rs | 23.79 | 23.73 | 29.97 | 17.28 | 11.28 | 16.6 | 0.39 | 4.52 | 3 | 17.58 | 1.44 | 13.97 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 1098 | 1390 | 1410 | 1895 | 2155 | 2051 | 1917 | 2746 | 3260 | 3121 |
| Expenses | 944 | 1173 | 1184 | 1617 | 1849 | 1765 | 1527 | 2366 | 3061 | 2864 |
| Operating Profit | 154 | 217 | 226 | 277 | 306 | 285 | 390 | 379 | 198 | 257 |
| OPM % | 14 | 16 | 16 | 15 | 14 | 14 | 20 | 14 | 6 | 8 |
| Other Income | 0 | 1 | 1 | 20 | 8 | 16 | 8 | 47 | 14 | 13 |
| Interest | 34 | 47 | 39 | 48 | 44 | 35 | 25 | 26 | 34 | 40 |
| Depreciation | 13 | 33 | 36 | 49 | 58 | 65 | 67 | 62 | 77 | 84 |
| Profit before tax | 107 | 138 | 152 | 200 | 212 | 201 | 306 | 339 | 101 | 147 |
| Tax % | 22 | 19 | 23 | 21 | 14 | 18 | 28 | 30 | 20 | — |
| Net Profit | 84 | 112 | 116 | 159 | 182 | 166 | 220 | 237 | 81 | 114 |
| EPS in Rs | 33.07 | 44.38 | 45.87 | 62.92 | 64.73 | 59.06 | 69.56 | 75.14 | 25.49 | 35.99 |
| Dividend Payout % | 0 | 5 | 5 | 5 | 5 | 4 | 6 | 11 | 20 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 25 | 25 | 25 | 25 | 28 | 28 | 32 | 32 | 32 | 32 |
| Reserves | 63 | 74 | 182 | 333 | 739 | 891 | 1268 | 1494 | 1548 | 1580 |
| Borrowings | 314 | 410 | 540 | 475 | 42 | 302 | 160 | 148 | 145 | 142 |
| Other Liabilities | 302 | 350 | 319 | 291 | 573 | 473 | 402 | 676 | 781 | 734 |
| Total Liabilities | 704 | 859 | 1066 | 1125 | 1382 | 1695 | 1862 | 2349 | 2506 | 2487 |
| Fixed Assets | 200 | 353 | 590 | 586 | 630 | 668 | 793 | 1005 | 1182 | 1247 |
| CWIP | 0 | 88 | 34 | 24 | 31 | 98 | 134 | 233 | 164 | 190 |
| Investments | 134 | 0 | 0 | 10 | 0 | 10 | 0 | 60 | 100 | 0 |
| Other Assets | 370 | 419 | 442 | 505 | 721 | 918 | 936 | 1051 | 1060 | 1051 |
| Total Assets | 704 | 859 | 1066 | 1125 | 1382 | 1695 | 1862 | 2349 | 2506 | 2487 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 182 | 79 | 91 | 77 | 196 | 375 | 70 | 281 | 470 | 92 |
| Cash from Investing Activity | -15 | -21 | -79 | -125 | -70 | -87 | -146 | -279 | -381 | 5 |
| Cash from Financing Activity | -152 | -72 | -13 | 49 | -125 | -262 | 156 | -70 | -56 | -68 |
| Net Cash Flow | 16 | -15 | -1 | 0 | 1 | 25 | 80 | -68 | 33 | 28 |
| Free Cash Flow | 202 | 58 | 11 | -49 | 135 | 277 | -69 | 137 | 190 | -72 |
| CFO/OP | 196 | 66 | 53 | 49 | 87 | 138 | 38 | 86 | 140 | 59 |

### Ratios

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 48 | 72 | 45 | 49 | 41 | 47 | 50 | 47 | 28 | 34 |
| Inventory Days | 35 | 36 | 68 | 89 | 67 | 86 | 117 | 154 | 102 | 94 |
| Days Payable | 106 | 126 | 142 | 95 | 66 | 132 | 118 | 102 | 96 | 88 |
| Cash Conversion Cycle | -24 | -18 | -28 | 43 | 41 | 2 | 48 | 99 | 34 | 40 |
| Working Capital Days | -81 | -36 | -56 | -69 | -14 | 15 | 10 | 89 | 38 | 23 |
| ROCE % | 21 | 38 | 41 | 30 | 31 | 31 | 23 | 25 | 21 | 8 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Dec 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 50.09% | 50.09% | 55.06% | 55.06% | 60.03% | 60.03% | 60.03% | 60.03% |
| FIIs | 0.43% | 2.69% | 1.72% | 1.34% | 0.95% | 0.92% | 4.19% | 3.83% |
| DIIs | 5.3% | 11.67% | 13.91% | 17.29% | 13.21% | 9.45% | 6.81% | 6.37% |
| Government | 0.99% | 0.99% | 0.89% | 0.89% | 0.79% | 0.79% | 0.79% | 0.79% |
| Public | 43.19% | 34.56% | 28.42% | 25.42% | 25.02% | 28.8% | 28.18% | 28.98% |
| No. of Shareholders | 53181 | 53551 | 53728 | 52732 | 64131 | 116208 | 109374 | 112035 |

### Quarterly

| Category | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 60.03% | 60.03% | 60.03% | 60.03% | 60.03% | 60.03% | 60.03% | 60.03% | 60.03% | 60.03% | 60.03% | 60.03% |
| FIIs | 0.95% | 1.94% | 1.12% | 1.02% | 0.92% | 0.91% | 1.49% | 1.45% | 4.19% | 3.53% | 3.44% | 3.83% |
| DIIs | 13.21% | 11.57% | 10.48% | 10.51% | 9.45% | 8.96% | 8.81% | 8.63% | 6.81% | 6.72% | 6.75% | 6.37% |
| Government | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
| Public | 25.02% | 25.67% | 27.58% | 27.64% | 28.8% | 29.31% | 28.86% | 29.08% | 28.18% | 28.93% | 28.98% | 28.98% |
| No. of Shareholders | 64131 | 77965 | 101938 | 110043 | 116208 | 119934 | 122855 | 117028 | 109374 | 106062 | 119751 | 112035 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 12 / 5 / 2

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 1057.29 | Buy |
| EMA (10) | 1064.64 | Buy |
| SMA (20) | 1057.9 | Buy |
| EMA (20) | 1053.56 | Buy |
| SMA (50) | 1011.07 | Buy |
| EMA (50) | 1019.1 | Buy |
| SMA (100) | 965.18 | Buy |
| EMA (100) | 969.57 | Buy |
| SMA (200) | 875.99 | Buy |
| EMA (200) | 908.36 | Buy |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 66.48 | Neutral |
| MACD (12,26,9) | 15.34 | Buy |
| Stochastic (14,3,3) | 74.49 | Neutral |
| ADX (14) | 20.13 | Neutral |
| Williams %R (14) | -14.66 | Sell |
| ATR (14) | 30.98 | Neutral |
| ROC (12) | 5.58 | Buy |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 51.6 | Neutral |

## Filings & Documents

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Aug 2023 | [Concall - Aug 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=00af3e4d-994b-44da-9128-3d5e3e6ebd03.pdf) |
| Aug 2023 | [Concall - Aug 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/00af3e4d-994b-44da-9128-3d5e3e6ebd03.pdf) |
| Aug 2022 | [Concall - Aug 2022](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9eeccc5c-806d-4092-b552-3bc6a748b706.pdf) |
| Aug 2022 | [Concall - Aug 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9eeccc5c-806d-4092-b552-3bc6a748b706.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2013 from nse](https://archives.nseindia.com/annual_reports/AR_1452_TATAMETALI_2012_2013_05092013143117.zip) |
| from nse | [Annual Report 2011 from nse](https://archives.nseindia.com/annual_reports/AR_TATAMETALI_2010_2011_12092011053535.zip) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cece1644-1b76-42d2-949b-5576f2cd37ea.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/513434/73634513434.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/513434/68866513434.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/513434/5134340320.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/513434/5134340319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/513434/5134340318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/513434/5134340317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/513434/5134340316.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T20:39:24.051Z.