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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.
June 2016 quarter consolidated results
For the quarter ended June 2015, it registered a 4% rise in consolidated sales to Rs 619.88 crore. OPM improved from 14.3% to 14.8% which saw OP rise 8% to Rs 91.84 crore.
Other income grew 56% to Rs 14 lakh and interest cost fell 6% to Rs 23.43 crore. As depreciation grew 14% to Rs 26.36 crore, PBT went up 13% to Rs 42.19 crore.
Tax grew 18% to Rs 9.17 crore after which PAT went up 12% to Rs 33.02 crore.
Minority interest rose 5% to Rs 1.13 crore after which net profit went up 12% to Rs 31.90 crore.
Consolidated Segmented Performance
During the quarter Polymer Products contributed 72% of the total revenue. Revenue grew 5% to Rs 446.91 crore. PBIT grew 7% to Rs 47.98 crore and accounted for 73% of total
During the quarter Composite Products business accounted for 28% of the total revenue. Revenue stagnated at Rs 172.97 crore. PBIT went up 2% to Rs 17.492 crore and accounted for 27% of total
PBIT margins of both the divisions improved marginally the quarter
During the quarter PBIT margins of Polymer Products division grew from 10.6% to 10.7%.
During the quarter PBIT margins of Composite Products division improved from 9.9% to 10.1%.
Other details
The above consolidated financial results for the Quarter/ Year ended are not comparable to those of previous quarter/year ended due to sale and discontinuance of some business.
It has secured a large order for Composite Cylinders from overseas customer to fill almost 70% of its capacity (700000 cylinders per annum) for the next one year.
It is planning to start the production of MOX film in December 2016 quarter.
Valuation
The share price trades at Rs 65.
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