{"id":150,"date":"2019-08-19T12:14:15","date_gmt":"2019-08-19T12:14:15","guid":{"rendered":"http:\/\/www.assetmultiplier.co.in\/blog\/?p=150"},"modified":"2019-10-03T11:31:45","modified_gmt":"2019-10-03T11:31:45","slug":"time-technoplast-ltd-time-in-1qfy20-a-stable-outlook","status":"publish","type":"post","link":"https:\/\/www.assetmultiplier.co.in\/blog\/2019\/08\/19\/time-technoplast-ltd-time-in-1qfy20-a-stable-outlook\/","title":{"rendered":"Time Technoplast Ltd (TIME IN): 1QFY20 \u2013 A Stable Outlook."},"content":{"rendered":"\n<p><em>Dated &#8211; 16 August 2019<\/em><\/p>\n\n\n\n<p>1QFY20\nResults <\/p>\n\n\n\n<ul><li>Time Technoplast\nLtd (TIME) reported 11% YoY growth in consolidated revenues at Rs 8,684 Mn. The\nrevenues in both the segments \u2013 Polymer products and Composite products increased\nby ~10.9% and ~11.5% YoY to Rs 6,158 Mn and Rs 2,523 Mn respectively. Share of\nPolymer Products in total revenue was 71% whereas share of Composite products was\n29%. The Value-added products grew by 15% in Q1FY20<\/li><li>The EBITDA\nincreased by 4.9% YoY to Rs 1,267 mn and the EBITDA margin remained stable at 14.6%.\n&nbsp;<\/li><li>Segment EBIT\nmargins for polymer Products and composite products were 10.1% and 9.8%\nrespectively. <\/li><li>Time reported PAT\nof Rs 438 Mn with YoY growth of ~1.15%.<\/li><\/ul>\n\n\n\n<p>Management\nCommentary <\/p>\n\n\n\n<ul><li>11% revenue\ngrowth was led by volume growth of ~14% YoY in 1QFY20.<\/li><li>Pipe segment\ncontinuous to have a healthy order book. The pipes\/ducts have substantial\nbusiness potential especially in Smart cities.<\/li><li>In industrial\npackaging segment, The Greenfield manufacturing facility at Bengaluru is\ncompleted and production started in Q1 of FY20.<\/li><li>Time did a capex\nof Rs202 Mn on established products and Rs 102 Mn on Value added products in\nQ1FY20.<\/li><li>Overall capacity\nutilization is 80% (India \u2013 83%; Overseas \u2013 74%).<\/li><li>Ongoing tension\nbetween US and china can benefit company\u2019s IBC business.<\/li><li>Company is\nexpecting a tax rate of 26% for FY20.<\/li><\/ul>\n\n\n\n<p>Consensus\nEstimate (Source: market screener website) <\/p>\n\n\n\n<ul><li>The closing price of TIME was Rs 65\/- as of 14-August-2019.\nIt traded at 5.7x\/5.2x consensus EPS for FY20E and FY21E is Rs 11.3 &amp; Rs\n12.5 respectively. <\/li><li>Consensus target price of Rs 187\/- implies a PE of 14.9x\non FY21E EPS of Rs 12.5.<\/li><\/ul>\n\n\n\n<p>For more visit www.assetmultiplier.co.in<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dated &#8211; 16 August 2019 1QFY20 Results Time Technoplast Ltd (TIME) reported 11% YoY growth in consolidated revenues at Rs 8,684 Mn. The revenues in both the segments \u2013 Polymer products and Composite products increased by ~10.9% and ~11.5% YoY to Rs 6,158 Mn and Rs 2,523 Mn respectively. Share of Polymer Products in total [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[89,90],"tags":[],"_links":{"self":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/150"}],"collection":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/comments?post=150"}],"version-history":[{"count":1,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/150\/revisions"}],"predecessor-version":[{"id":151,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/150\/revisions\/151"}],"wp:attachment":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/media?parent=150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/categories?post=150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/tags?post=150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}