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Time Technoplast (TTL), has emerged as a formidable player in the polymer space, with a product repertoire that caters to diverse segments like industrial packaging, lifestyle, auto components, healthcare and infrastructure. Its focus on technology in the polymer space and consistent efforts in developing a broad range of products across multiple verticals has enabled it to straddle a wide spectrum of user industries and thereby reduce dependence on any single product or user industry. In the domestic plastic based industrial packaging TTL enjoys dominant market share.
TTL is now also a multinational conglomerate with operations in Bahrain, Belgium, China, Egypt, Indonesia, India, Korea, Malaysia, Poland, Romania, Singapore, Sharjah, Taiwan, Thailand, Vietnam.
September 2016 quarter consolidated results
For the quarter ended September 2015, it registered a 7% rise in consolidated sales to Rs 653.61 crore. OPM improved from 14.7% to 14.9% which saw OP rise 8% to Rs 97.26 crore.
Other income grew from 9 lakh to Rs 54 lakh and interest cost fell 7% to Rs 23.02 crore. As depreciation grew 5% to Rs 27.01 crore, PBT went up 22% to Rs 47.77 crore.
Tax grew 34% to Rs 11.04 crore after which PAT went up 19% to Rs 36.73 crore.
Minority interest rose 23% to Rs 1.13 crore after which net profit went up 19% to Rs 35.61 crore.
Six months consolidated results
For the six months ended September 2015, it consolidated sales grew 5% to Rs 11273.48 crore. OPM improved from 14.5% to 14.8% which saw OP rise 8% to Rs 189.10 crore.
Other income grew from 18 lakh to Rs 68 lakh and interest cost fell 7% to Rs 46.45 crore. As depreciation grew 9% to Rs 53.37 crore, PBT went up 18% to Rs 89.96 crore.
Tax grew 26% to Rs 20.21 crore after which PAT went up 18% to Rs 89.96 crore.
Minority interest rose 13% to Rs 2.25 crore after which net profit went up 16% to Rs 67.50 crore.
Consolidated segment performance
During the quarter Polymer Products contributed 71% of the total revenue. Revenue grew 8% to Rs 462.38 crore. PBIT grew 9% to Rs 49.95 crore and accounted for 71% of total
During the quarter Composite Products business accounted for 29% of the total revenue. Revenue grew 5% to Rs 191.23 crore. PBIT went up 13% to Rs 20.30 crore and accounted for 29% of total
During the six months Polymer Products contributed 71% of the total revenue. Revenue grew 7% to Rs 909.29 crore. PBIT grew 8% to Rs 97.93 crore and accounted for 72% of total
During the six months Composite Products business accounted for 29% of the total revenue. Revenue grew 2% to Rs 364.19 crore. PBIT went up 8% to Rs 37.79 crore and accounted for 28% of total
PBIT margins of both the divisions improve
During the quarter PBIT margins of Polymer Products division grew from 10.7% to 10.8%.
During the quarter PBIT margins of Composite Products division improved from 9.9% to 10.6%.
During the six months PBIT margins of Polymer Products division grew from 10.7% to 10.8%.
During the six months PBIT margins of Composite Products division improved from 9.8% to 10.4%.
Valuation
The share price trades at Rs 96.
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