---
title: "Tinplate Company of India Ltd(Merged) (TINPLATE) — Share Price, Financials & Analysis"
symbol: "TINPLATE"
company: "Tinplate Company of India Ltd(Merged)"
canonical: "https://tapetide.com/stocks/TINPLATE"
sector: "Industrials"
industry: "Industrial Products"
generated_at: "2026-10-13T10:58:22.955Z"
---

# Tinplate Company of India Ltd(Merged) (TINPLATE)

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

## Company

- **Sector:** Industrials
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** DELISTED
- **Listed Since:** 2006-01-27
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** tatatinplate.com

## About

Tinplate Company of India Limited (TCIL) is a producer of tin coated and tin free steel sheets in India. It is a Subsidiary of Tata Steel Limited. [1] The company is the 1st Domestic Tinplate
manufacturer of India.

## Latest Price

## Key Insights

### Strengths

- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 18.4%

### Weaknesses

- Earnings include an other income of Rs.67.9 Cr.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -64% | 12% | 13% |
| revenue growth | -12% | 23% | 16% |

## 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 | 615.14 | 754.98 | 866.29 | 976.82 | 1179.51 | 1226.88 | 1006.52 | 959.54 | 959.93 | 1032.87 | 914.25 | 941.79 |
| Expenses | 561.08 | 669.85 | 764.99 | 869.93 | 1046.06 | 1068.36 | 886.03 | 999.85 | 907.2 | 951.74 | 906.57 | 941.85 |
| Operating Profit | 54.06 | 85.13 | 101.3 | 106.89 | 133.45 | 158.52 | 120.49 | -40.31 | 52.73 | 81.13 | 7.68 | -0.06 |
| OPM % | 8.79 | 11.28 | 11.69 | 10.94 | 11.31 | 12.92 | 11.97 | -4.2 | 5.49 | 7.85 | 0.84 | -0.01 |
| Other Income | 6.77 | 7.88 | 8.11 | 10.1 | 10.35 | 11.48 | 10.64 | 12.23 | 15.1 | 17.59 | 17.03 | 18.16 |
| Interest | 1.42 | 3.06 | 2.46 | 2.06 | 1.98 | 1.71 | 2.18 | 2.64 | 2.63 | 4.76 | 3.72 | 3.56 |
| Depreciation | 15.36 | 15.46 | 14.91 | 14.94 | 14.8 | 16.15 | 15.25 | 15.78 | 16.5 | 16.95 | 17.38 | 17.66 |
| Profit before tax | 44.05 | 74.49 | 92.04 | 99.99 | 127.02 | 152.14 | 113.7 | -46.5 | 48.7 | 77.01 | 3.61 | -3.12 |
| Tax % | 25.52 | 24.61 | 25.45 | 25.06 | 25.26 | 24.79 | 25.26 | -24.54 | 25.3 | 26.55 | 27.15 | -26.6 |
| Net Profit | 32.82 | 56.16 | 68.62 | 74.93 | 94.94 | 114.42 | 84.98 | -35.1 | 36.38 | 56.56 | 2.63 | -2.29 |
| EPS in Rs | 3.13 | 5.36 | 6.55 | 7.16 | 9.07 | 10.93 | 8.12 | -3.35 | 3.47 | 5.4 | 0.25 | -0.22 |

### 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 | 911 | 836 | 830 | 1919 | 2584 | 2106 | 2281 | 4250 | 3959 | 3849 |
| Expenses | 787 | 669 | 739 | 1755 | 2451 | 1954 | 2104 | 3748 | 3745 | 3707 |
| Operating Profit | 124 | 167 | 91 | 164 | 133 | 151 | 177 | 501 | 214 | 141 |
| OPM % | 14 | 20 | 11 | 9 | 5 | 7 | 8 | 12 | 5 | 3.7 |
| Other Income | 27 | 18 | 18 | 16 | 29 | 24 | 24 | 39 | 55 | 68 |
| Interest | 12 | 6 | 3 | 3 | 7 | 10 | 8 | 8 | 12 | 15 |
| Depreciation | 71 | 73 | 66 | 62 | 64 | 61 | 62 | 61 | 64 | 68 |
| Profit before tax | 68 | 106 | 41 | 115 | 92 | 104 | 132 | 471 | 193 | 126 |
| Tax % | 34 | 36 | 32 | 37 | 37 | 9 | 26 | 25 | 26 | — |
| Net Profit | 45 | 68 | 28 | 73 | 58 | 95 | 98 | 353 | 143 | 93 |
| EPS in Rs | 4.26 | 6.48 | 2.66 | 6.99 | 5.54 | 9.08 | 9.37 | 33.71 | 13.64 | 8.9 |
| Dividend Payout % | 38 | 31 | 60 | 29 | 36 | 11 | 21 | 12 | 22 | — |

### 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 | 105 | 105 | 105 | 105 | 105 | 105 | 105 | 105 | 105 | 105 |
| Reserves | 444 | 518 | 517 | 572 | 606 | 656 | 741 | 1066 | 1158 | 1126 |
| Borrowings | 45 | 0 | 0 | 0 | 0 | 14 | 13 | 12 | 15 | 15 |
| Other Liabilities | 277 | 244 | 251 | 431 | 465 | 424 | 496 | 798 | 648 | 618 |
| Total Liabilities | 871 | 867 | 874 | 1107 | 1176 | 1198 | 1356 | 1981 | 1926 | 1864 |
| Fixed Assets | 680 | 628 | 604 | 567 | 563 | 578 | 545 | 556 | 596 | 596 |
| CWIP | 17 | 43 | 24 | 43 | 42 | 23 | 15 | 54 | 33 | 56 |
| Investments | 0 | 5 | 38 | 51 | 97 | 93 | 72 | 213 | 252 | 83 |
| Other Assets | 173 | 190 | 208 | 446 | 474 | 503 | 723 | 1157 | 1044 | 1129 |
| Total Assets | 871 | 867 | 874 | 1107 | 1176 | 1198 | 1356 | 1981 | 1926 | 1864 |

### 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 | 199 | 170 | 114 | 91 | 108 | 124 | 53 | 252 | 454 | 215 |
| Cash from Investing Activity | -35 | -35 | -36 | -57 | -51 | -104 | -32 | -162 | -373 | -269 |
| Cash from Financing Activity | -164 | -134 | -75 | -28 | -23 | -32 | -33 | -18 | -31 | -56 |
| Net Cash Flow | -1 | 1 | 3 | 5 | 34 | -12 | -12 | 73 | 50 | -109 |
| Free Cash Flow | 159 | 131 | 73 | 66 | 69 | 62 | 12 | 223 | 368 | 135 |
| CFO/OP | 147 | 150 | 83 | 112 | 97 | 118 | 60 | 165 | 116 | 123 |

### Ratios

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 20 | 14 | 22 | 36 | 19 | 18 | 12 | 12 | 5 | 2 |
| Inventory Days | 56 | 80 | 149 | 85 | 57 | 41 | 85 | 63 | 53 | 48 |
| Days Payable | 61 | 90 | 113 | 90 | 53 | 41 | 53 | 56 | 50 | 49 |
| Cash Conversion Cycle | 16 | 4 | 59 | 31 | 23 | 17 | 44 | 19 | 8 | 1 |
| Working Capital Days | -15 | -20 | 28 | 36 | 18 | 13 | 26 | 9 | -1 | -3 |
| ROCE % | 16 | 13 | 18 | 7 | 18 | 14 | 15 | 17 | 47 | 16 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Dec 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% |
| FIIs | 2% | 2.34% | 1.11% | 1.14% | 0.73% | 2.97% | 2% | 2.51% |
| DIIs | 0.17% | 0.16% | 0.18% | 0.12% | 0.01% | 0.01% | 0.01% | 0.25% |
| Government | 0% | 0% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Public | 22.87% | 22.54% | 23.73% | 23.76% | 24.28% | 22.04% | 23% | 22.26% |
| No. of Shareholders | 45735 | 59488 | 66686 | 66093 | 74146 | 96605 | 92411 | 75167 |

### 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 | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% |
| FIIs | 0.73% | 2.42% | 2.61% | 2.66% | 2.97% | 3.01% | 2.84% | 2.26% | 2% | 2.12% | 2.03% | 2.51% |
| DIIs | 0.01% | 0.01% | 0.01% | 0% | 0.01% | 0.01% | 0% | 0% | 0.01% | 0% | 0.15% | 0.25% |
| Government | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Public | 24.28% | 22.6% | 22.41% | 22.36% | 22.04% | 22% | 22.16% | 22.75% | 23% | 22.88% | 22.84% | 22.26% |
| No. of Shareholders | 74146 | 76196 | 88744 | 92076 | 96605 | 99614 | 106511 | 97494 | 92411 | 88548 | 81164 | 75167 |

## Technical Indicators

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

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 8 / 5 / 6

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 439.44 | Sell |
| EMA (10) | 438.82 | Sell |
| SMA (20) | 438.7 | Sell |
| EMA (20) | 435.58 | Sell |
| SMA (50) | 415.29 | Buy |
| EMA (50) | 420.19 | Buy |
| SMA (100) | 396.78 | Buy |
| EMA (100) | 399.52 | Buy |
| SMA (200) | 362.08 | Buy |
| EMA (200) | 376.24 | Buy |

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

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 49.08 | Neutral |
| MACD (12,26,9) | 6.07 | Sell |
| Stochastic (14,3,3) | 38.75 | Neutral |
| ADX (14) | 25.6 | Buy |
| Williams %R (14) | -74.76 | Neutral |
| ATR (14) | 12.21 | Neutral |
| ROC (12) | -3.03 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 50.19 | Neutral |

## Filings & Documents

### Annual Reports

| Date | Document |
| --- | --- |
| 2023 | [Annual Report 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b8f344b3-6209-4a11-aa78-f71b01d0ee72.pdf) |
| 2022 | [Annual Report 2022](https://www.bseindia.com/bseplus/AnnualReport/504966/73192504966.pdf) |
| 2021 | [Annual Report 2021](https://www.bseindia.com/bseplus/AnnualReport/504966/68812504966.pdf) |
| Mar 2020 | [Annual Report 2020](https://www.bseindia.com/bseplus/AnnualReport/504966/5049660320.pdf) |
| Mar 2019 | [Annual Report 2019](https://www.bseindia.com/bseplus/AnnualReport/504966/5049660319.pdf) |
| Mar 2018 | [Annual Report 2018](https://www.bseindia.com/bseplus/AnnualReport/504966/5049660318.pdf) |
| Mar 2017 | [Annual Report 2017](https://www.bseindia.com/bseplus/AnnualReport/504966/5049660317.pdf) |
| Mar 2016 | [Annual Report 2016](https://www.bseindia.com/bseplus/AnnualReport/504966/5049660316.pdf) |
| Mar 2015 | [Annual Report 2015](https://www.bseindia.com/bseplus/AnnualReport/504966/5049660315.pdf) |
| Mar 2014 | [Annual Report 2014](https://www.bseindia.com/bseplus/AnnualReport/504966/5049660314.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2023-11-27 | Credit rating update — ICRA |
| 2022-10-04 | Credit rating update — ICRA |
| 2021-07-22 | Credit rating update — ICRA |
| 2020-08-07 | Credit rating update — ICRA |
| 2019-03-27 | Credit rating update — ICRA |
| 2019-03-14 | Credit rating update — ICRA |

---

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 2026-10-13T10:58:22.955Z.