Time Technoplast Ltd

Time Technoplast Ltd

₹ 297 -1.18%
19 Jun 9:22 a.m.
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 6,745 Cr.
  • Current Price 297
  • High / Low 315 / 116
  • Stock P/E 21.7
  • Book Value 112
  • Dividend Yield 0.42 %
  • ROCE 16.0 %
  • ROE 12.9 %
  • Face Value 1.00

Pros

Cons

  • Stock is trading at 2.67 times its book value
  • Company has a low return on equity of 10.9% 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.

Peer comparison

Sector: Plastic products Industry: Plastics Products

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
951 754 915 942 1,039 944 1,024 1,129 1,192 1,079 1,194 1,325 1,394
822 654 784 806 900 821 891 978 1,023 932 1,027 1,134 1,208
Operating Profit 129 101 131 136 139 124 133 151 169 147 167 191 186
OPM % 14% 13% 14% 14% 13% 13% 13% 13% 14% 14% 14% 14% 13%
2 0 0 1 1 1 0 2 1 1 0 2 11
Interest 24 23 23 23 23 23 24 26 33 26 25 25 25
Depreciation 38 38 39 39 40 41 42 43 45 45 46 42 40
Profit before tax 69 39 69 74 77 60 68 84 92 76 96 126 133
Tax % 25% 25% 26% 26% 26% 25% 26% 26% 29% 25% 25% 26% 29%
52 29 51 55 57 45 51 63 65 57 71 93 94
EPS in Rs 2.31 1.26 2.22 2.38 2.45 1.96 2.20 2.71 2.81 2.48 3.11 4.04 4.07
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,776 2,155 2,447 2,396 2,755 3,103 3,564 3,578 3,005 3,650 4,289 4,992
1,485 1,847 2,108 2,048 2,350 2,630 3,040 3,079 2,618 3,144 3,712 4,302
Operating Profit 292 308 339 348 404 473 524 499 387 506 577 691
OPM % 16% 14% 14% 15% 15% 15% 15% 14% 13% 14% 13% 14%
5 6 4 22 2 2 3 2 4 3 4 14
Interest 89 99 104 96 90 88 99 108 98 92 105 101
Depreciation 68 87 87 99 116 137 146 156 151 157 171 173
Profit before tax 141 128 150 174 201 250 282 237 142 259 305 431
Tax % 24% 23% 25% 19% 25% 26% 26% 26% 26% 26% 27% 27%
107 99 113 142 151 185 209 175 106 192 224 316
EPS in Rs 4.92 4.54 5.22 6.57 6.50 7.98 8.96 7.48 4.57 8.31 9.69 13.68
Dividend Payout % 9% 10% 10% 8% 10% 10% 10% 13% 15% 12% 13% 15%
Compounded Sales Growth
10 Years: 9%
5 Years: 7%
3 Years: 18%
TTM: 16%
Compounded Profit Growth
10 Years: 13%
5 Years: 9%
3 Years: 44%
TTM: 42%
Stock Price CAGR
10 Years: 21%
5 Years: 26%
3 Years: 52%
1 Year: 146%
Return on Equity
10 Years: 11%
5 Years: 10%
3 Years: 11%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 21 21 21 21 23 23 23 23 23 23 23 23
Reserves 809 908 1,016 1,147 1,304 1,461 1,647 1,792 1,880 2,050 2,247 2,530
825 861 804 746 722 777 840 890 863 906 891 829
432 460 493 505 523 632 691 659 538 626 669 732
Total Liabilities 2,086 2,250 2,334 2,420 2,571 2,892 3,200 3,364 3,304 3,604 3,829 4,114
1,010 1,145 1,154 1,147 1,100 1,200 1,279 1,349 1,281 1,314 1,383 1,368
CWIP 148 45 43 71 87 94 98 81 40 70 68 41
Investments 0 0 0 0 0 0 0 0 0 0 0 2
929 1,060 1,138 1,202 1,384 1,598 1,822 1,934 1,983 2,220 2,379 2,703
Total Assets 2,086 2,250 2,334 2,420 2,571 2,892 3,200 3,364 3,304 3,604 3,829 4,114

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
221 214 269 289 188 303 281 301 257 291 370 406
-190 -124 -98 -120 -212 -244 -231 -138 -105 -179 -216 -187
-44 -74 -172 -167 19 -51 -58 -148 -151 -104 -154 -197
Net Cash Flow -13 16 -0 1 -5 8 -7 16 1 8 1 22

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 75 73 69 75 77 79 80 84 97 87 80 79
Inventory Days 112 104 102 104 104 109 107 110 132 129 117 107
Days Payable 83 71 67 70 66 74 69 65 56 55 48 45
Cash Conversion Cycle 104 106 104 110 115 113 118 130 173 161 150 141
Working Capital Days 73 79 77 88 102 103 108 125 177 155 144 136
ROCE % 14% 13% 13% 14% 14% 15% 16% 13% 9% 12% 13%

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
51.33% 51.33% 51.33% 51.33% 51.33% 51.33% 51.33% 51.47% 51.69% 51.69% 51.51% 51.56%
14.63% 13.37% 12.43% 10.87% 8.70% 7.81% 8.88% 8.05% 6.88% 5.96% 5.70% 6.18%
11.23% 11.01% 10.09% 9.59% 9.13% 9.24% 8.94% 8.16% 6.21% 9.95% 10.42% 10.93%
22.80% 24.29% 26.14% 28.21% 30.83% 31.62% 30.85% 32.31% 35.22% 32.39% 32.37% 31.32%
No. of Shareholders 52,02558,87666,93772,12788,94998,96092,42886,65677,99873,77974,10978,632

* 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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Documents

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