Thal Ltd (THALL) - Net Assets
Based on the latest financial reports, Thal Ltd (THALL) has net assets worth PKRs52.12 Billion PKR as of March 2024. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (PKRs68.34 Billion) and total liabilities (PKRs16.22 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | PKRs52.12 Billion |
| % of Total Assets | 76.27% |
| Annual Growth Rate | 12.34% |
| 5-Year Change | 55.55% |
| 10-Year Change | N/A |
| Growth Volatility | 5.11 |
Thal Ltd - Net Assets Trend (2016–2023)
This chart illustrates how Thal Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Thal Ltd (2016–2023)
The table below shows the annual net assets of Thal Ltd from 2016 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-06-30 | PKRs46.00 Billion | +10.58% |
| 2022-06-30 | PKRs41.59 Billion | +13.55% |
| 2021-06-30 | PKRs36.63 Billion | +16.09% |
| 2020-06-30 | PKRs31.55 Billion | +6.71% |
| 2019-06-30 | PKRs29.57 Billion | +10.14% |
| 2018-06-30 | PKRs26.85 Billion | +7.52% |
| 2017-06-30 | PKRs24.97 Billion | +22.55% |
| 2016-06-30 | PKRs20.37 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Thal Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 218.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2023)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | PKRs12.91 Billion | 33.14% |
| Other Components | PKRs26.05 Billion | 66.86% |
| Total Equity | PKRs38.96 Billion | 100.00% |
Thal Ltd Competitors by Market Cap
The table below lists competitors of Thal Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
T M M Inc New
PINK:TMMI
|
$229.57 |
|
SK Securities ACPC No.7 Special Purpose Acquisition Co. Ltd.
KO:408920
|
$229.74 |
|
SSH COMMUN SEC (XXH.SG)
STU:XXH
|
$229.85 |
|
World Fitness Services Ltd
TW:2762
|
$229.99 |
|
INTICA SYSTEMS - Dusseldorf Stock Exchang
DU:IS7
|
$229.14 |
|
MMI HOLDINGS
BE:M1A
|
$229.14 |
|
Starward Industries S.A.
WAR:STA
|
$228.43 |
|
ELP Corp.
KO:063760
|
$228.38 |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thal Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 34,937,378,000 to 38,964,219,000, a change of 4,026,841,000 (11.5%).
- Net income of 4,407,708,000 contributed positively to equity growth.
- Dividend payments of 850,249,000 reduced retained earnings.
- New share issuances of 450,000,000 increased equity.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | PKRs4.41 Billion | +11.31% |
| Dividends Paid | PKRs850.25 Million | -2.18% |
| Share Issuances | PKRs450.00 Million | +1.15% |
| Other Changes | PKRs19.38 Million | +0.05% |
| Total Change | PKRs- | 11.53% |
Book Value vs Market Value Analysis
This analysis compares Thal Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.33x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.75x to 1.33x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-06-30 | PKRs232.66 | PKRs640.00 | x |
| 2018-06-30 | PKRs251.30 | PKRs640.00 | x |
| 2019-06-30 | PKRs283.52 | PKRs640.00 | x |
| 2020-06-30 | PKRs309.79 | PKRs640.00 | x |
| 2021-06-30 | PKRs371.04 | PKRs640.00 | x |
| 2022-06-30 | PKRs430.21 | PKRs640.00 | x |
| 2023-06-30 | PKRs480.86 | PKRs640.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thal Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 11.31%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 13.30%
- • Asset Turnover: 0.54x
- • Equity Multiplier: 1.58x
- Recent ROE (11.31%) is below the historical average (16.72%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 17.77% | 15.28% | 0.75x | 1.55x | PKRs1.12 Billion |
| 2017 | 27.30% | 28.38% | 0.66x | 1.47x | PKRs3.26 Billion |
| 2018 | 15.58% | 15.62% | 0.67x | 1.48x | PKRs1.14 Billion |
| 2019 | 15.59% | 15.21% | 0.71x | 1.45x | PKRs1.28 Billion |
| 2020 | 11.50% | 16.78% | 0.46x | 1.48x | PKRs376.57 Million |
| 2021 | 18.07% | 18.33% | 0.66x | 1.49x | PKRs2.43 Billion |
| 2022 | 16.63% | 14.59% | 0.72x | 1.57x | PKRs2.32 Billion |
| 2023 | 11.31% | 13.30% | 0.54x | 1.58x | PKRs511.29 Million |
Industry Comparison
This section compares Thal Ltd's net assets metrics with peer companies in the Automobiles & Auto Parts industry.
Industry Context
- Industry: Automobiles & Auto Parts
- Average net assets among peers: $15,258,042,833
- Average return on equity (ROE) among peers: 15.82%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thal Ltd (THALL) | PKRs52.12 Billion | 17.77% | 0.31x | $229.51 |
| Agriauto Industries Ltd (AGIL) | $5.42 Billion | 19.44% | 0.13x | $54.52 |
| Atlas Honda Ltd (ATLH) | $21.03 Billion | 26.56% | 1.26x | $601.66 |
| Ghandhara Industries Ltd (GHNI) | $4.65 Billion | 1.29% | 2.42x | $262.57 |
| Ghandhara Tyre and Rubber Company Ltd (GTYR) | $3.84 Billion | 9.26% | 3.18x | $10.59 |
| Honda Atlas Cars (Pakistan) Ltd (HCAR) | $16.56 Billion | 4.12% | 0.92x | $64.19 |
| Indus Motor Company Ltd (INDU) | $40.05 Billion | 34.25% | 0.62x | $696.50 |
About Thal Ltd
Thal Ltd operates in Automotive Parts & Equipment.