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TPL Plastech

₹90.5 0.8 | 0.9%

Market Cap ₹706 Cr.

Stock P/E 40.1

P/B 5.7

Current Price ₹90.5

Book Value ₹ 16

Face Value 2

52W High ₹106.8

Dividend Yield 0.66%

52W Low ₹ 34.1

TPL Plastech Research see more...

Overview Inc. Year: 1992Industry: Plastic Products

TPL Plastech Ltd is a manufacturer of plastic products. The Company's phase includes polymer products and all its business operations are in India. The Company gives narrow mouth drums of 210, 235 and 250 liters capacity. It offers narrow mouth and wide mouth carboys with capacities of 25 and 35 liters narrow mouth, 50 liters two openinng, 100 liters narrow mouth, 50 liters rocket type, 50 liters wide mouth, 100 liters wide mouth. The Company affords open top drums-bulk and medium with capacities of 35, 50, 60, 210 and 235 liters. It also gives polyethylene (PE) pipes in diverse cloth grades, PE-63, PE-80 and PE-a hundred, in range of 20 millimeter outer diameter (OD) to 280 millimeter OD. The Company's PE pipes are utilized in packages, consisting of portable water services or distribution lines, sewerage and drainage, cable ducting, natural gas distribution, irrigation, waste disposal, industrial application and offshore pipeline installation.

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TPL Plastech Share Price

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TPL Plastech Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 58 59 62 62 67 69 72 69 78 83
Other Income 0 0 0 0 0 1 0 0 0 0
Total Income 58 59 62 62 67 70 72 69 78 83
Total Expenditure 51 51 56 55 60 61 64 61 70 73
Operating Profit 7 7 7 7 7 9 8 8 9 10
Interest 1 1 1 1 1 1 1 1 1 1
Depreciation 1 1 1 1 1 1 1 1 2 1
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 5 5 4 4 5 6 5 5 6 7
Provision for Tax 1 1 1 1 1 1 1 1 1 1
Profit After Tax 4 4 3 3 4 5 4 4 4 6
Adjustments 0 0 0 0 0 0 -0 -0 0 0
Profit After Adjustments 4 4 3 3 4 5 4 4 4 6
Adjusted Earnings Per Share 0.5 0.5 0.4 0.4 0.5 0.6 0.5 0.5 0.5 0.8

TPL Plastech Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 154 190 183 178 180 192 219 209 170 229 271 302
Other Income 0 0 0 0 0 0 0 0 0 0 1 0
Total Income 154 190 183 179 180 192 219 209 171 229 272 302
Total Expenditure 138 173 165 157 158 168 194 185 150 202 241 268
Operating Profit 16 18 18 22 22 24 25 24 20 27 31 35
Interest 5 5 6 5 4 4 6 6 5 5 5 4
Depreciation 4 4 3 3 3 3 4 4 4 4 5 5
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 8 9 10 14 15 17 16 15 11 18 20 23
Provision for Tax 1 1 2 5 3 4 4 4 3 4 4 4
Profit After Tax 6 7 8 9 11 12 11 11 8 13 16 18
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 6 7 8 9 11 12 11 11 8 13 16 18
Adjusted Earnings Per Share 0.8 0.9 1 1.1 1.4 1.6 1.5 1.4 1 1.7 2.1 2.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 18% 9% 7% 6%
Operating Profit CAGR 15% 9% 5% 7%
PAT CAGR 23% 13% 6% 10%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 164% 57% 46% 22%
ROE Average 15% 12% 13% 16%
ROCE Average 19% 17% 17% 18%

TPL Plastech Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 33 38 44 52 61 71 79 87 92 103 115
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 16 9 4 0 8 16 10 7 5 5 16
Other Non-Current Liabilities 6 6 6 7 7 8 8 9 9 11 15
Total Current Liabilities 64 69 70 74 75 100 107 96 84 88 79
Total Liabilities 118 122 125 133 151 195 204 198 190 207 224
Fixed Assets 48 47 45 49 51 66 63 61 58 60 56
Other Non-Current Assets 2 1 1 5 10 9 12 12 10 12 26
Total Current Assets 68 74 79 80 91 120 130 125 122 125 134
Total Assets 118 122 125 133 151 195 204 198 190 207 224

TPL Plastech Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 1 1 0 0 1 0 1 1 2 0 0
Cash Flow from Operating Activities 12 5 9 33 3 6 9 31 21 23 -2
Cash Flow from Investing Activities -3 -1 -1 -8 -10 -17 -3 -3 -4 -4 -10
Cash Flow from Financing Activities -8 -5 -8 -25 6 12 -7 -28 -19 -19 12
Net Cash Inflow / Outflow 1 -1 0 0 -0 1 -0 0 -2 -0 -0
Closing Cash & Cash Equivalent 1 0 0 1 0 1 1 1 0 0 0

TPL Plastech Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 0.8 0.92 0.98 1.1 1.45 1.59 1.46 1.36 1.03 1.71 2.06
CEPS(Rs) 1.26 1.4 1.33 1.48 1.81 2 1.94 1.81 1.5 2.28 2.76
DPS(Rs) 0.4 0.4 0.4 0.5 0.6 0.7 0.7 0.7 0.7 0.4 0.6
Book NAV/Share(Rs) 4.21 4.9 5.63 6.72 7.87 9.13 10.17 11.11 11.78 13.14 14.79
Core EBITDA Margin(%) 9.25 8.19 8.92 10.6 10.82 10.89 9.76 9.76 10 9.94 9.31
EBIT Margin(%) 7.33 6.54 7.6 9.38 9.51 9.47 8.36 8.32 8.18 8.3 7.98
Pre Tax Margin(%) 4.4 4.03 4.89 6.82 7.28 7.48 6.07 6.03 5.5 6.62 6.42
PAT Margin (%) 3.65 3.38 3.73 4.33 5.59 5.56 4.39 4.34 3.96 4.95 5.03
Cash Profit Margin (%) 5.71 5.13 5.08 5.79 7 6.98 5.84 5.79 5.8 6.62 6.75
ROA(%) 5.62 5.98 6.17 6.67 7.93 7.17 5.69 5.27 4.12 6.71 7.44
ROE(%) 20.49 20.24 18.53 17.84 19.82 18.74 15.12 12.79 8.97 13.68 14.72
ROCE(%) 17.53 17.97 18.6 23.01 22.04 18.82 16.4 15.46 13.45 18.56 18.65
Receivable days 68.04 65.87 69.74 72.41 78.62 74.33 69.72 71.81 79.37 63.53 59.77
Inventory Days 40.53 35.38 39.2 43.56 47.32 66.88 76.53 83.52 97.75 74.95 66.79
Payable days 91.79 74.92 68.44 86.39 104.65 113.67 109.99 118.17 155.32 128.46 102.32
PER(x) 9.66 14.18 14.61 15.1 35.87 23.9 9.46 4.84 14.91 13.76 14.09
Price/Book(x) 1.84 2.67 2.53 2.47 6.59 4.17 1.36 0.59 1.3 1.79 1.96
Dividend Yield(%) 2.57 1.53 1.4 1.5 0.58 0.92 2.54 5.32 2.29 1.71 2.07
EV/Net Sales(x) 0.65 0.75 0.83 0.85 2.44 1.83 0.75 0.41 0.84 0.86 0.96
EV/Core EBITDA(x) 6.15 8.13 8.33 7.07 19.97 14.42 6.42 3.61 7.09 7.31 8.37
Net Sales Growth(%) 19.65 23.59 -3.67 -2.72 1.11 6.58 14.06 -4.45 -18.53 34.14 18.33
EBIT Growth(%) 10.24 10.15 11.71 20 3.07 10.27 2.46 -6.15 -18.62 34.62 14.15
PAT Growth(%) 6.88 14.59 5.79 12.93 31.26 10.17 -8.39 -6.78 -24.57 66.16 20.55
EPS Growth(%) 6.88 14.59 5.79 12.93 31.26 10.17 -8.39 -6.78 -24.57 66.16 20.55
Debt/Equity(x) 1.24 1.12 0.95 0.45 0.6 0.78 0.73 0.45 0.31 0.17 0.33
Current Ratio(x) 1.06 1.07 1.12 1.08 1.21 1.21 1.22 1.31 1.45 1.42 1.71
Quick Ratio(x) 0.71 0.8 0.76 0.78 0.81 0.69 0.69 0.73 0.81 0.77 0.95
Interest Cover(x) 2.51 2.61 2.81 3.66 4.27 4.76 3.64 3.63 3.04 4.95 5.11
Total Debt/Mcap(x) 0.67 0.42 0.38 0.18 0.09 0.19 0.54 0.76 0.24 0.09 0.17

TPL Plastech Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 74.86 74.86 74.86 74.86 74.86 74.86 74.86 74.86 74.86 74.86
FII 0.03 0 0 0.01 0 0 0.05 0 0 0.01
DII 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08
Public 25.03 25.06 25.06 25.05 25.05 25.06 25 25.06 25.06 25.04
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 128.46 to 102.32days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 12% over the last 3 years.
  • Stock is trading at 5.7 times its book value.
  • The company has delivered a poor profit growth of 5% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

TPL Plastech News

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