Time Technoplast Ltd

₹ 82.8 -0.72%
02 Feb 1:22 p.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 1,872 Cr.
  • Current Price 82.8
  • High / Low 126 / 63.0
  • Stock P/E 9.19
  • Book Value 94.9
  • Dividend Yield 1.22 %
  • ROCE 12.2 %
  • ROE 9.44 %
  • Face Value 1.00

Pros

  • Stock is trading at 0.89 times its book value

Cons

  • The company has delivered a poor sales growth of 5.79% over past five years.
  • Company has a low return on equity of 8.24% over last 3 years.
  • Dividend payout has been low at 13.3% of profits 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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
871 923 916 475 744 835 951 754 915 942 1,039 944 1,024
750 790 798 421 652 723 822 654 784 806 900 821 891
Operating Profit 121 134 118 54 92 112 129 101 131 136 139 124 133
OPM % 14% 14% 13% 11% 12% 13% 14% 13% 14% 14% 13% 13% 13%
0 1 1 0 1 1 2 0 0 1 1 1 0
Interest 28 27 26 25 25 24 24 23 23 23 23 23 24
Depreciation 40 40 37 38 37 38 38 38 39 39 40 41 42
Profit before tax 54 67 56 -9 30 51 69 39 69 74 77 60 68
Tax % 25% 26% 28% -35% 15% 22% 25% 25% 26% 26% 26% 25% 26%
Net Profit 40 50 40 -12 26 40 52 29 51 55 57 45 51
EPS in Rs 1.70 2.14 1.69 -0.52 1.08 1.70 2.31 1.26 2.22 2.38 2.45 1.96 2.20
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,259 1,510 1,776 2,155 2,447 2,396 2,755 3,103 3,564 3,578 3,005 3,650 3,949
1,023 1,267 1,485 1,847 2,108 2,048 2,350 2,630 3,040 3,079 2,618 3,144 3,418
Operating Profit 236 243 292 308 339 348 404 473 524 499 387 506 531
OPM % 19% 16% 16% 14% 14% 15% 15% 15% 15% 14% 13% 14% 13%
6 4 5 6 4 22 2 2 3 2 4 3 3
Interest 45 68 89 99 104 96 90 88 99 108 98 92 93
Depreciation 44 56 68 87 87 99 116 137 146 156 151 157 162
Profit before tax 152 123 141 128 150 174 201 250 282 237 142 259 280
Tax % 23% 25% 24% 23% 25% 19% 25% 26% 26% 26% 26% 26%
Net Profit 117 92 107 99 113 142 151 185 209 175 106 192 208
EPS in Rs 5.30 4.27 4.92 4.54 5.22 6.57 6.50 7.98 8.96 7.48 4.57 8.31 8.99
Dividend Payout % 11% 11% 9% 10% 10% 8% 10% 10% 10% 13% 15% 12%
Compounded Sales Growth
10 Years: 9%
5 Years: 6%
3 Years: 1%
TTM: 14%
Compounded Profit Growth
10 Years: 8%
5 Years: 5%
3 Years: -3%
TTM: 20%
Stock Price CAGR
10 Years: 6%
5 Years: -14%
3 Years: 17%
1 Year: 0%
Return on Equity
10 Years: 11%
5 Years: 10%
3 Years: 8%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
21 21 21 21 21 21 23 23 23 23 23 23 23
Reserves 649 740 809 908 1,016 1,147 1,304 1,461 1,647 1,792 1,880 2,050 2,124
589 769 825 861 804 746 722 777 840 890 863 906 892
303 382 432 460 493 505 523 632 691 659 538 626 645
Total Liabilities 1,561 1,911 2,086 2,250 2,334 2,420 2,571 2,892 3,200 3,364 3,304 3,604 3,683
744 919 1,010 1,145 1,154 1,147 1,100 1,200 1,279 1,349 1,281 1,314 1,337
CWIP 119 135 148 45 43 71 87 94 98 81 40 70 73
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
698 858 929 1,060 1,138 1,202 1,384 1,598 1,822 1,934 1,983 2,220 2,273
Total Assets 1,561 1,911 2,086 2,250 2,334 2,420 2,571 2,892 3,200 3,364 3,304 3,604 3,683

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
140 161 221 214 269 289 188 303 281 301 257 291
-221 -247 -190 -124 -98 -120 -212 -244 -231 -138 -105 -179
92 99 -44 -74 -172 -167 19 -51 -58 -148 -151 -104
Net Cash Flow 11 13 -13 16 -0 1 -5 8 -7 16 1 8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 73 78 75 73 69 75 77 79 80 84 97 87
Inventory Days 115 111 112 104 102 104 104 109 107 110 132 129
Days Payable 77 84 83 71 67 70 66 74 69 65 56 55
Cash Conversion Cycle 110 105 104 106 104 110 115 113 118 130 173 161
Working Capital Days 96 89 73 79 77 88 102 103 108 125 177 161
ROCE % 17% 14% 14% 13% 14% 14% 15% 16% 16% 13% 9% 12%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
51.32 51.33 51.33 51.33 51.33 51.33 51.33 51.33 51.33 51.33 51.33 51.33
17.83 17.12 15.56 15.05 15.18 14.63 13.37 12.43 10.87 8.70 7.81 8.88
11.57 10.48 10.44 11.00 11.27 11.23 11.01 10.09 9.59 9.13 9.24 8.94
19.28 21.07 22.67 22.61 22.22 22.80 24.29 26.14 28.21 30.83 31.62 30.85

* 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.

Click on the line-items to see the names of individual entities.

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