Time Technoplast Ltd., incorporated in the year 1989, is a Small Cap company (having a market cap of Rs 1891.72 Crore) operating in Packaging sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 953.44 Crore, up 14.13 % from last quarter Total Income of Rs 835.44 Crore and up 3.96 % from last year same quarter Total Income of Rs 917.12 Crore. Company reported net profit after tax of Rs 51.78 Crore in latest quarter.
Investment Rationale
Pipes continued to remain a drag on overall revenues but the company expects sharp recovery in FY22. Benefit of shift of chemical business from China to other Asian countries for the packaging segment, higher VAP mix, and big opportunities in CNG cylinder segment would continue to aid strong recovery in revenue. Selling of non-core assets (kept aside Rs600mn as assets held for sale), lower capex and target RoCE of 20% in next three years to aid rerating in the stock going forward.
Promoter/FII Holdings
Promoters held 51.3 per cent stake in the company as of March 31, 2021, while FIIs held 15.2 per cent, DIIs 11.3 per cent and public and others 22.2 per cent.
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