Declared Dividend • Aug 14
Dividend of ₹1.00 announced Dividend of ₹1.00 is the same as last year. Ex-date: 18th September 2026 Payment date: 17th October 2026 Dividend yield will be 0.9%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (8% earnings payout ratio) but not covered by cash flows (137% cash payout ratio). The dividend has not increased over the past 3 years but payments have been stable during that time. Earnings per share has grown by 33% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Aug 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.3% to ₹106. The fair value is estimated to be ₹134, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.8% over the last 3 years. Earnings per share has declined by 4.1%. Announcement • Aug 11
TGV SRAAC Limited, Annual General Meeting, Sep 26, 2026 TGV SRAAC Limited, Annual General Meeting, Sep 26, 2026, at 11:00 Indian Standard Time. Reported Earnings • Aug 11
First quarter 2027 earnings released: EPS: ₹4.24 (vs ₹3.61 in 1Q 2026) First quarter 2027 results: EPS: ₹4.24 (up from ₹3.61 in 1Q 2026). Revenue: ₹5.47b (up 11% from 1Q 2026). Net income: ₹454.6m (up 17% from 1Q 2026). Profit margin: 8.3% (up from 7.9% in 1Q 2026). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Aug 01
TGV SRAAC Limited to Report Fiscal Year 2027 Results on Aug 10, 2026 TGV SRAAC Limited announced that they will report fiscal year 2027 results on Aug 10, 2026 New Risk • May 23
New major risk - Revenue and earnings growth Earnings have declined by 4.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.6% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (137% cash payout ratio). Reported Earnings • May 23
Full year 2026 earnings released: EPS: ₹12.33 (vs ₹8.62 in FY 2025) Full year 2026 results: EPS: ₹12.33 (up from ₹8.62 in FY 2025). Revenue: ₹19.7b (up 12% from FY 2025). Net income: ₹1.32b (up 43% from FY 2025). Profit margin: 6.7% (up from 5.3% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • May 11
TGV SRAAC Limited to Report Q4, 2026 Results on May 21, 2026 TGV SRAAC Limited announced that they will report Q4, 2026 results on May 21, 2026 Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹95.75, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 20x in the Chemicals industry in India. Total loss to shareholders of 14% over the past three years. New Risk • Mar 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.94b (US$97.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 10
Third quarter 2026 earnings released: EPS: ₹2.61 (vs ₹2.23 in 3Q 2025) Third quarter 2026 results: EPS: ₹2.61 (up from ₹2.23 in 3Q 2025). Revenue: ₹4.54b (flat on 3Q 2025). Net income: ₹281.4m (up 18% from 3Q 2025). Profit margin: 6.2% (up from 5.2% in 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Feb 03
TGV SRAAC Limited to Report Q3, 2026 Results on Feb 09, 2026 TGV SRAAC Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Feb 09, 2026 Reported Earnings • Nov 13
Second quarter 2026 earnings released: EPS: ₹3.46 (vs ₹3.08 in 2Q 2025) Second quarter 2026 results: EPS: ₹3.46 (up from ₹3.08 in 2Q 2025). Revenue: ₹5.03b (up 18% from 2Q 2025). Net income: ₹370.9m (up 13% from 2Q 2025). Profit margin: 7.4% (down from 7.7% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Oct 31
TGV SRAAC Limited to Report Q2, 2026 Results on Nov 12, 2025 TGV SRAAC Limited announced that they will report Q2, 2026 results on Nov 12, 2025 Upcoming Dividend • Sep 12
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 19 September 2025. Payment date: 18 October 2025. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.2%). In line with average of industry peers (0.7%). Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Non-Executive Independent Director Geeta Serwani was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 11
TGV SRAAC Limited, Annual General Meeting, Sep 27, 2025 TGV SRAAC Limited, Annual General Meeting, Sep 27, 2025, at 11:30 Indian Standard Time. Declared Dividend • Aug 11
Dividend of ₹1.00 announced Dividend of ₹1.00 is the same as last year. Ex-date: 19th September 2025 Payment date: 18th October 2025 Dividend yield will be 0.9%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has not increased over the past 2 years but payments have been stable during that time. Earnings per share has grown by 24% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: ₹3.61 (vs ₹1.28 in 1Q 2025) First quarter 2026 results: EPS: ₹3.61 (up from ₹1.28 in 1Q 2025). Revenue: ₹4.96b (up 31% from 1Q 2025). Net income: ₹387.9m (up 182% from 1Q 2025). Profit margin: 7.8% (up from 3.6% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Aug 02
TGV SRAAC Limited to Report Q1, 2026 Results on Aug 08, 2025 TGV SRAAC Limited announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 28
Full year 2025 earnings released: EPS: ₹8.62 (vs ₹5.70 in FY 2024) Full year 2025 results: EPS: ₹8.62 (up from ₹5.70 in FY 2024). Revenue: ₹17.6b (up 14% from FY 2024). Net income: ₹923.6m (up 51% from FY 2024). Profit margin: 5.2% (up from 3.9% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • May 13
TGV SRAAC Limited to Report Q4, 2025 Results on May 27, 2025 TGV SRAAC Limited announced that they will report Q4, 2025 results on May 27, 2025 Announcement • Mar 01
TGV SRAAC Limited Announces Cessation of N. Jesvanth Reddy as Executive Director (Technical) and Director, Effective March 31, 2025 TGV SRAAC Limited announced that Sri N. Jesvanth Reddy ceased to be Executive Director (Technical) and Director of the company to be effective from March 31, 2025 (after working hours). He has tendered his resignation due to personal reasons/problems vide resignation letter dated March 1, 2025. Reported Earnings • Jan 31
Third quarter 2025 earnings released: EPS: ₹2.23 (vs ₹1.43 in 3Q 2024) Third quarter 2025 results: EPS: ₹2.23 (up from ₹1.43 in 3Q 2024). Revenue: ₹4.59b (up 14% from 3Q 2024). Net income: ₹238.6m (up 56% from 3Q 2024). Profit margin: 5.2% (up from 3.8% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Jan 21
TGV SRAAC Limited to Report Q3, 2025 Results on Jan 30, 2025 TGV SRAAC Limited announced that they will report Q3, 2025 results on Jan 30, 2025 Announcement • Oct 22
TGV SRAAC Limited to Report Q2, 2025 Results on Oct 29, 2024 TGV SRAAC Limited announced that they will report Q2, 2025 results on Oct 29, 2024 Announcement • Sep 28
TGV SRAAC Limited Approves Final Dividend for the Financial Year Ended March 31, 2024 TGV SRAAC Limited approved final dividend at the rate of INR 1/- per Equity Share (of INR 10/- each) i.e., 10% for the Financial Year Ended March 31, 2024 . Upcoming Dividend • Sep 13
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 20 September 2024. Payment date: 28 October 2024. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 1.0%. Within top quartile of Indian dividend payers (1.0%). Higher than average of industry peers (0.6%). Declared Dividend • Aug 16
Dividend of ₹1.00 announced Dividend of ₹1.00 is the same as last year. Ex-date: 20th September 2024 Payment date: 28th October 2024 Dividend yield will be 1.0%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (18% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. The company's earnings per share (EPS) would need to decline by 80% to shift the payout ratio to a potentially unsustainable range, which is more than the 9.5% EPS decline seen over the last 5 years. Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: ₹1.28 (vs ₹1.80 in 1Q 2024) First quarter 2025 results: EPS: ₹1.28 (down from ₹1.80 in 1Q 2024). Revenue: ₹3.82b (down 1.5% from 1Q 2024). Net income: ₹137.6m (down 28% from 1Q 2024). Profit margin: 3.6% (down from 5.0% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 14
TGV SRAAC Limited, Annual General Meeting, Sep 28, 2024 TGV SRAAC Limited, Annual General Meeting, Sep 28, 2024, at 11:30 Indian Standard Time. Announcement • Aug 06
TGV SRAAC Limited to Report Q1, 2025 Results on Aug 14, 2024 TGV SRAAC Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹106, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 35x in the Chemicals industry in India. Total returns to shareholders of 153% over the past three years. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹90.77, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 31x in the Chemicals industry in India. Total returns to shareholders of 196% over the past three years. New Risk • Jun 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.34b (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.9% net profit margin). Market cap is less than US$100m (₹8.34b market cap, or US$99.8m). Announcement • May 31
TGV SRAAC Limited Recommends Final Dividend for the Financial Year Ended 31 March, 2024 TGV SRAAC Limited at its board meeting held on May 29, 2024 recommended final dividend INR 1 per equity shares for the financial year ended 31st March, 2024, subject To Approve the Shareholders of the Company at the forthcoming Annual General Meeting. The Book Closure and Record Date for this purpose will be intimated in due course. Reported Earnings • May 30
Full year 2024 earnings released: EPS: ₹5.70 (vs ₹33.81 in FY 2023) Full year 2024 results: EPS: ₹5.70 (down from ₹33.81 in FY 2023). Revenue: ₹15.6b (down 33% from FY 2023). Net income: ₹609.9m (down 83% from FY 2023). Profit margin: 3.9% (down from 16% in FY 2023). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 23
TGV SRAAC Limited to Report Q4, 2024 Results on May 29, 2024 TGV SRAAC Limited announced that they will report Q4, 2024 results on May 29, 2024 Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹94.80, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 29x in the Chemicals industry in India. Total returns to shareholders of 264% over the past three years. Announcement • Jan 26
TGV SRAAC Limited to Report Q3, 2024 Results on Feb 12, 2024 TGV SRAAC Limited announced that they will report Q3, 2024 results on Feb 12, 2024 New Risk • Nov 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (7.5% average weekly change). Announcement • Nov 13
TGV SRAAC Limited to Report Q2, 2024 Results on Nov 11, 2023 TGV SRAAC Limited announced that they will report Q2, 2024 results on Nov 11, 2023 Announcement • Oct 01
TGV SRAAC Limited Approves Final Dividend for the Financial Year Ending March 31, 2023 TGV SRAAC Limited announced that at its Annual General Meeting held on September 29, 2023, approved final dividend at the rate of INR 1 per Equity Share of INR 10 each fully paid-up of the company for the financial year ending March 31, 2023. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹120, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 28x in the Chemicals industry in India. Total returns to shareholders of 438% over the past three years. Upcoming Dividend • Sep 15
Upcoming dividend of ₹1.00 per share at 0.9% yield Eligible shareholders must have bought the stock before 22 September 2023. Payment date: 24 October 2023. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.3%). In line with average of industry peers (0.8%). Reported Earnings • Sep 08
Full year 2023 earnings released: EPS: ₹33.81 (vs ₹12.56 in FY 2022) Full year 2023 results: EPS: ₹33.81 (up from ₹12.56 in FY 2022). Revenue: ₹23.3b (up 53% from FY 2022). Net income: ₹3.62b (up 169% from FY 2022). Profit margin: 16% (up from 8.8% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 69% per year, which means it is significantly lagging earnings growth. Announcement • Sep 07
TGV SRAAC Limited Proposes Final Dividend for the Year Ended March 31, 2023, Payable on October 24, 2023 TGV SRAAC Limited announced that at its Annual General Meeting to be held on September 29, 2023, it will propose final dividend at the rate of INR 1 per Equity Share of INR 10 each fully paid-up of the company, as recommended by the Board of Directors, be and is hereby declared for the financial year ending March 31, 2023 and the same be paid out of the profits of the company for the financial year ending March 31, 2023. The dividend will be paid to members whose names appear in the Register of Members as on the cut-off /record date September 22, 2023. The dividend payment date is October 24, 2023. Announcement • Aug 15
TGV SRAAC Limited, Annual General Meeting, Sep 29, 2023 TGV SRAAC Limited, Annual General Meeting, Sep 29, 2023, at 13:00 Indian Standard Time. Announcement • May 31
TGV SRAAC Limited Recommends Final Dividend for the Financial Year Ended March 31, 2023 TGV SRAAC Limited at its board meeting held on May 29, 2023, recommended Final Dividend of INR 1 (10%) per Equity Shares on 107,089,800 Equity Shares of INR 10 each for the financial year ended March 31, 2023, subject to approval of the Shareholders of the Company at the forthcoming Annual General Meeting. Reported Earnings • May 30
Full year 2023 earnings released: EPS: ₹33.81 (vs ₹12.56 in FY 2022) Full year 2023 results: EPS: ₹33.81 (up from ₹12.56 in FY 2022). Revenue: ₹23.3b (up 53% from FY 2022). Net income: ₹3.62b (up 169% from FY 2022). Profit margin: 16% (up from 8.8% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 79% per year, which means it is significantly lagging earnings growth. Announcement • May 20
TGV SRAAC Limited to Report Q4, 2023 Results on May 29, 2023 TGV SRAAC Limited announced that they will report Q4, 2023 results on May 29, 2023 Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹108, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 571% over the past three years. Reported Earnings • Feb 10
Third quarter 2023 earnings released: EPS: ₹8.19 (vs ₹3.87 in 3Q 2022) Third quarter 2023 results: EPS: ₹8.19 (up from ₹3.87 in 3Q 2022). Revenue: ₹5.93b (up 36% from 3Q 2022). Net income: ₹877.7m (up 112% from 3Q 2022). Profit margin: 15% (up from 9.5% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 74% per year, which means it is significantly lagging earnings growth. Announcement • Jan 31
TGV SRAAC Limited to Report Q3, 2023 Results on Feb 09, 2023 TGV SRAAC Limited announced that they will report Q3, 2023 results on Feb 09, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Non-Executive Independent Director Geeta Serwani was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 08
Second quarter 2023 earnings released: EPS: ₹8.85 (vs ₹1.38 in 2Q 2022) Second quarter 2023 results: EPS: ₹8.85 (up from ₹1.38 in 2Q 2022). Revenue: ₹6.11b (up 100% from 2Q 2022). Net income: ₹947.1m (up ₹799.5m from 2Q 2022). Profit margin: 16% (up from 4.8% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has increased by 82% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 27
TGV SRAAC Limited Announces Resignation of P.N. Vedanarayanan as Director TGV SRAAC Limited announces P.N. Vedanarayanan has ceased to be a Director of the Company upon completion of his second and final term as an Independent Director, from the closing of business hours on 25th September, 2022. Board Change • Sep 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Non-Executive Independent Director Geeta Serwani was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 17
Tgv Sraac Limited Approves Appointment of Ms. Geeta Ramesh Serwani as Non-Executive Independent Director TGV SRAAC Limited approved the appointment of Ms. Geeta Ramesh Serwani for the first time as Non-Executive Independent Director for a period of 3 consecutive years. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 18% share price gain to ₹162, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 21x in the Chemicals industry in India. Total returns to shareholders of 554% over the past three years. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improved over the past week After last week's 30% share price gain to ₹121, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 449% over the past three years. Reported Earnings • Aug 11
First quarter 2023 earnings released: EPS: ₹13.80 (vs ₹0.94 in 1Q 2022) First quarter 2023 results: EPS: ₹13.80 (up from ₹0.94 in 1Q 2022). Revenue: ₹5.97b (up 138% from 1Q 2022). Net income: ₹1.48b (up ₹1.38b from 1Q 2022). Profit margin: 25% (up from 4.0% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 11
TGV SRAAC Limited, Annual General Meeting, Sep 15, 2022 TGV SRAAC Limited, Annual General Meeting, Sep 15, 2022, at 11:30 Indian Standard Time. Announcement • Aug 03
TGV SRAAC Limited to Report Q1, 2023 Results on Aug 10, 2022 TGV SRAAC Limited announced that they will report Q1, 2023 results on Aug 10, 2022 Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹72.60, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 17x in the Chemicals industry in India. Total returns to shareholders of 142% over the past three years. Valuation Update With 7 Day Price Move • May 27
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹79.45, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 116% over the past three years. Reported Earnings • May 22
Full year 2022 earnings released: EPS: ₹12.56 (vs ₹2.79 in FY 2021) Full year 2022 results: EPS: ₹12.56 (up from ₹2.79 in FY 2021). Revenue: ₹15.3b (up 51% from FY 2021). Net income: ₹1.35b (up 353% from FY 2021). Profit margin: 8.8% (up from 2.9% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹87.35, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 135% over the past three years. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Woman Independent Director Sridevi Madati was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improved over the past week After last week's 15% share price gain to ₹80.80, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 98% over the past three years. Announcement • Mar 04
TGV SRAAC Limited Co-Opts Ms. Hima Bindu Sagala as Additional Director TGV SRAAC Limited announced that at its board meeting held on March 2, 2022, Ms. Hima Bindu Sagala has been co-opted as Additional Director on the Board of the company. Reported Earnings • Feb 13
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹3.87 (up from ₹0.95 in 3Q 2021). Revenue: ₹4.37b (up 65% from 3Q 2021). Net income: ₹414.7m (up 314% from 3Q 2021). Profit margin: 9.5% (up from 3.8% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improved over the past week After last week's 17% share price gain to ₹72.40, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 116% over the past three years. Executive Departure • Dec 06
Executive Director of Technical & Executive Director Gopal Agarwal has left the company On the 30th of November, Gopal Agarwal's tenure as Executive Director of Technical & Executive Director ended. We don't have any record of a personal shareholding under Gopal's name. A total of 3 executives have left over the last 12 months. Reported Earnings • Nov 16
Second quarter 2022 earnings released: EPS ₹1.38 (vs ₹1.04 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹3.06b (up 21% from 2Q 2021). Net income: ₹147.6m (up 35% from 2Q 2021). Profit margin: 4.8% (up from 4.3% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Executive Departure • Oct 03
Independent Non-Executive Director Mora Reddy has left the company On the 27th of September, Mora Reddy's tenure as Independent Non-Executive Director ended after 5.7 years in the role. We don't have any record of a personal shareholding under Mora's name. A total of 2 executives have left over the last 12 months. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improved over the past week After last week's 24% share price gain to ₹50.15, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 52% over the past three years. Executive Departure • Sep 23
Independent Non-Executive Director Jagini Nagabhushanam has left the company On the 16th of September, Jagini Nagabhushanam's tenure as Independent Non-Executive Director ended after 6.0 years in the role. We don't have any record of a personal shareholding under Jagini's name. Jagini is the only executive to leave the company over the last 12 months. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 18% share price gain to ₹41.70, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 6.8% over the past three years. Reported Earnings • Aug 02
First quarter 2022 earnings released: EPS ₹0.94 (vs ₹0.58 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹2.52b (up 6.5% from 1Q 2021). Net income: ₹99.2m (up 60% from 1Q 2021). Profit margin: 3.9% (up from 2.6% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improved over the past week After last week's 19% share price gain to ₹36.15, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 21x in the Chemicals industry in India. Negligible returns to shareholders over past three years. Reported Earnings • Jun 06
Full year 2021 earnings released: EPS ₹2.79 (vs ₹4.96 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹10.1b (down 3.0% from FY 2020). Net income: ₹297.2m (down 38% from FY 2020). Profit margin: 2.9% (down from 4.6% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment improved over the past week After last week's 19% share price gain to ₹34.20, the stock trades at a trailing P/E ratio of 20.1x. Average trailing P/E is 18x in the Chemicals industry in India. Total loss to shareholders of 41% over the past three years. Reported Earnings • Jan 27
Third quarter 2021 earnings released: EPS ₹0.95 (vs ₹1.37 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ₹2.66b (up 4.8% from 3Q 2020). Net income: ₹100.3m (down 24% from 3Q 2020). Profit margin: 3.8% (down from 5.2% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Jan 01
New 90-day high: ₹29.90 The company is up 33% from its price of ₹22.45 on 01 October 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 20% over the same period. Is New 90 Day High Low • Dec 02
New 90-day high: ₹26.20 The company is up 2.0% from its price of ₹25.75 on 03 September 2020. The Indian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 12% over the same period. Reported Earnings • Oct 27
First half earnings released Over the last 12 months the company has reported total profits of ₹208.3m, down 76% from the prior year. Total revenue was ₹9.81b over the last 12 months, down 15% from the prior year.