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Tata Metaliks: A preferred stock to play the water infrastructure opportunity

June 25, 2020 / 01:59 PM IST
Tata Metaliks: A preferred stock to play the water infrastructure opportunity

Tata Group

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Tata Metaliks (TML, CMP:Rs 498, Market capitalization: Rs 1399 crore) is a leading producer of foundry grade pig iron (PI) and Ductile Iron (DI) pipes. It reported a healthy performance in the fourth quarter of FY20 despite business getting affected by COVID-19. We expect it to feel the heat in Q1 FY21, however, as production and dispatches were shut till 12th May 2020 due to the lockdown. We expect its performance to improve beyond FY21, given significant cost savings from...

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