Time Technoplast Ltd

Time Technoplast Ltd

₹ 218 2.06%
26 Feb - close price
About

Time Technoplast is a multinational conglomerate involved in the manufacturing of technology and innovation driven polymer & composite products.(Source : 202003-01 Annual Report Page No:74)

Key Points

Market leadership
Company is the largest manufacturer of large size plastic drums with a market share of ~60% [1], second largest manufacturer of composite cylinders and third largest intermediate bulk container manufacturer. [2]

Product segments:
- Industrial packaging (75% of revenues) – domestic (66%), international (33%); Customers are majorly chemical and FMCG companies. Time follows a cost plus model for pricing
- Infra (15% revenues): pipes, prefabs, etc.
- Lifestyle (5% revenues): mats etc.
- Automotive components (5% revenues)

  • Market Cap 4,941 Cr.
  • Current Price 218
  • High / Low 234 / 69.4
  • Stock P/E 33.9
  • Book Value 73.4
  • Dividend Yield 0.57 %
  • ROCE 8.75 %
  • ROE 6.98 %
  • Face Value 1.00

Pros

  • Company has been maintaining a healthy dividend payout of 26.4%

Cons

  • Stock is trading at 2.96 times its book value
  • The company has delivered a poor sales growth of 4.41% over past five years.
  • Company has a low return on equity of 5.74% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
490 583 377 520 534 600 472 537 564 670 544 624 677
426 504 327 446 458 519 411 468 484 571 467 537 577
Operating Profit 64 79 50 73 76 81 61 69 80 99 77 87 100
OPM % 13% 14% 13% 14% 14% 14% 13% 13% 14% 15% 14% 14% 15%
0 0 -0 2 0 0 -0 2 -0 0 -0 4 -0
Interest 14 14 13 13 13 13 13 13 14 16 14 14 15
Depreciation 23 24 24 24 24 25 25 26 27 29 29 29 25
Profit before tax 27 42 13 38 39 44 23 32 39 55 34 47 60
Tax % 25% 23% 26% 26% 26% 25% 26% 25% 25% 26% 26% 26% 26%
20 33 10 28 29 33 17 24 29 41 25 35 45
EPS in Rs 0.89 1.44 0.42 1.25 1.28 1.44 0.75 1.06 1.30 1.81 1.13 1.53 1.98
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
907 1,049 1,191 1,318 1,342 1,596 1,808 2,117 2,141 1,725 2,031 2,242 2,515
735 855 1,008 1,116 1,131 1,348 1,517 1,796 1,849 1,509 1,751 1,934 2,152
Operating Profit 172 194 183 202 211 248 291 320 292 217 280 309 364
OPM % 19% 18% 15% 15% 16% 16% 16% 15% 14% 13% 14% 14% 14%
6 4 23 1 36 2 2 2 2 2 3 2 4
Interest 44 56 61 65 62 56 54 60 63 56 53 56 58
Depreciation 36 40 44 44 55 66 85 90 95 93 97 106 112
Profit before tax 98 102 101 94 130 127 154 173 135 69 133 149 197
Tax % 25% 26% 21% 25% 24% 25% 26% 27% 28% 26% 26% 26%
74 76 80 70 99 95 113 126 98 51 99 111 146
EPS in Rs 3.50 3.60 3.82 3.33 4.71 4.20 5.01 5.58 4.32 2.27 4.39 4.92 6.45
Dividend Payout % 13% 13% 12% 15% 12% 15% 16% 16% 22% 31% 23% 25%
Compounded Sales Growth
10 Years: 8%
5 Years: 4%
3 Years: 2%
TTM: 16%
Compounded Profit Growth
10 Years: 4%
5 Years: 0%
3 Years: 4%
TTM: 42%
Stock Price CAGR
10 Years: 20%
5 Years: 20%
3 Years: 57%
1 Year: 166%
Return on Equity
10 Years: 8%
5 Years: 7%
3 Years: 6%
Last Year: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 21 21 21 21 21 23 23 23 23 23 23 23 23
Reserves 613 680 748 804 903 1,133 1,229 1,337 1,413 1,443 1,525 1,612 1,644
416 468 504 491 534 572 629 668 741 715 746 764 760
185 217 233 245 277 292 360 393 364 318 473 454 454
Total Liabilities 1,235 1,386 1,506 1,561 1,736 2,020 2,241 2,421 2,540 2,498 2,766 2,853 2,881
440 483 580 607 654 754 872 960 1,028 976 1,013 1,080 1,078
CWIP 95 106 40 29 48 60 57 49 41 25 37 37 40
Investments 161 145 150 150 135 151 160 160 160 165 165 165 166
539 652 736 775 898 1,056 1,152 1,252 1,312 1,332 1,552 1,571 1,596
Total Assets 1,235 1,386 1,506 1,561 1,736 2,020 2,241 2,421 2,540 2,498 2,766 2,853 2,881

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
116 94 99 144 100 72 235 210 162 160 171 227
-113 -74 -57 -61 -72 -191 -207 -167 -116 -67 -132 -166
-5 -16 -37 -89 -31 115 -14 -42 -45 -104 -38 -61
Net Cash Flow -2 4 6 -6 -2 -4 13 1 0 -10 0 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 80 78 82 79 94 96 95 90 96 117 110 107
Inventory Days 104 109 101 101 106 110 112 106 105 128 125 114
Days Payable 67 68 67 61 70 62 72 63 52 55 80 66
Cash Conversion Cycle 117 119 117 119 131 144 135 132 150 190 154 155
Working Capital Days 118 124 128 126 148 163 147 138 158 222 196 186
ROCE % 14% 14% 13% 12% 11% 11% 12% 12% 9% 6% 8% 9%

Shareholding Pattern

Numbers in percentages

6 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
51.33% 51.33% 51.33% 51.33% 51.33% 51.33% 51.33% 51.33% 51.47% 51.69% 51.69% 51.51%
15.18% 14.63% 13.37% 12.43% 10.87% 8.70% 7.81% 8.88% 8.05% 6.88% 5.96% 5.70%
11.27% 11.23% 11.01% 10.09% 9.59% 9.13% 9.24% 8.94% 8.16% 6.21% 9.95% 10.42%
22.22% 22.80% 24.29% 26.14% 28.21% 30.83% 31.62% 30.85% 32.31% 35.22% 32.39% 32.37%
No. of Shareholders 37,02952,02558,87666,93772,12788,94998,96092,42886,65677,99873,77974,109

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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