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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 2017 quarter consolidated results
For the quarter ended September 2017, it registered a 11% rise in consolidated sales to Rs 742.77 crore. OPM improved from 14.9% to 15.1% which saw OP rise 12% to Rs 109.37 crore.
Other income fell 12% to Rs 48 lakh and interest cost fell 10% to Rs 20.78 crore. As depreciation grew 20% to Rs 32.45 crore, PBT went up 18% to Rs 56.60 crore.
Tax grew 21% to Rs 13.39 crore after which PAT went up 18% to Rs 43.22 crore.
Minority interest grew 11% to Rs 1.25 crore after which net profit went up 18% to Rs 41.97 crore.
Volumes grew 13%. India volumes grew 11%, overseas volumes grew 15%.
Six months consolidated results
For the six months, consolidated sales grew 10% to Rs 1405.34 crore. OPM improved from 14.8% to 15.0% which saw OP rise 12% to Rs 210.87 crore.
Other income grew 22% to Rs 83 lakh and interest cost fell 10% to Rs 41.83 crore. As depreciation grew 22% to Rs 65.26 crore, PBT went up 16% to Rs 104.61 crore.
Tax grew 18% to Rs 90.13 crore after which PAT went up 15% to Rs 80.13 crore.
Minority interest fell 18% to Rs 1.84 crore after which net profit went up 16% to Rs 78.280 crore.
Consolidated segment performance
During the quarter Polymer Products contributed 70% of the total revenue. Revenue grew 10% to Rs 508.06 crore. PBIT grew 8% to Rs 54.07 crore and accounted for 80% of total
During the quarter Composite Products business accounted for 30% of the total revenue. Revenue grew 13% to Rs 216.71 crore. PBIT went up 13% to Rs 22.85 crore and accounted for 30% of total
For the six months, Polymer Products contributed 71% of the total revenue. Revenue grew 9% to Rs 994.82 crore. PBIT grew 6% to Rs 103.98 crore and accounted for 71% of total
For the six months, Composite Products business accounted for 29% of the total revenue. Revenue grew 13% to Rs 410.52 crore. PBIT went up 10% to Rs 41.62 crore and accounted for 29% of total
Valuation
The share price trades at Rs 188.
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