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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 2015 quarter consolidated results
For the quarter ended September 2015, it registered a 3% rise in consolidated sales to Rs 622.40 crore. OPM improved from 14.3% to 14.4% which saw OP rise 4% to Rs 89.65 crore.
Other income fell 15% to Rs 9 lakh and interest cost fell 13% to Rs 24.77 crore. As depreciation grew 9% to Rs 25.83 crore, PBT went up 15% to Rs 39.14 crore.
Tax grew 8% to Rs 8.22 crore after which PAT went up 17% to Rs 30.92 crore.
Minority interest fell 10% to Rs 91 lakh after which net profit went up 18% to Rs 30.01 crore.
Consolidated Segmented Performance
During the quarter Polymer Products contributed 71% of the total revenue. Revenue grew 3% to Rs 440.42 crore. PBIT grew 2% to Rs 45.85 crore and accounted for 72% of total
During the quarter Composite Products business accounted for 29% of the total revenue. Revenue grew 2% to Rs 181.98 crore. PBIT went up 1% to Rs 17.97 crore and accounted for 28% of total
Six months consolidated results
For the six months ended September 2015, it registered a 5% rise in consolidated sales to Rs 1230.13 crore. OPM improved from 14.1% to 14.2% which saw OP rise 6% to Rs 174.98 crore.
Other income fell 11% to Rs 18 lakh and interest cost fell 11% to Rs 49.74 crore. As depreciation grew 4% to Rs 49.02 crore, PBT went up 21% to Rs 76.40 crore.
Tax grew 8% to Rs 15.99 crore after which PAT went up 25% to Rs 60.41 crore.
Minority interest fell 3% to Rs 1.99 crore after which net profit went up 27% to Rs 58.43 crore.
Consolidated six months segment performance
During the six months Polymer Products contributed 71% of the total revenue. Revenue grew 5% to Rs 873.53 crore. PBIT grew 7% to Rs 90.87 crore and accounted for 72% of total
During the six months Composite Products business accounted for 29% of the total revenue. Revenue grew 3% to Rs 356.60 crore. PBIT went up 5% to Rs 35.09 crore and accounted for 28% of total
FY 2015 results
In FY 2015, sales grew 13% to Rs 2476.13 crore. OPM fell 40 basis points to 13.7% which saw OP growing 10% to Rs 338.57 crore.
Other income fell 40% to RS 3.58 crore and interest cost grew 5% to Rs 104.30 crore. As depreciation grew 1% to Rs 87.47 crore, PBT went up 17% to Rs 150.38 crore.
Tax grew 26% to Rs 37.23 crore after which PAT went up 14% to Rs 113.15 crore.
Minority interest grew 4% to Rs 3.54 crore after which net profit went up 15% to Rs 109.61 crore.
Valuation
The share price trades at Rs 56.
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