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Last Updated on: 20 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 526582 | NSE: TPLPLASTEH

TPL Plastech Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 19, 2024, 6:18 pm

Market Cap 758 Cr.
Current Price 97.4
High / Low136/47.4
Stock P/E34.8
Book Value 17.2
Dividend Yield0.83 %
ROCE19.0 %
ROE15.8 %
Face Value 2.00
PEG Ratio1.67

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for TPL Plastech Ltd

Competitors of TPL Plastech Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Harshdeep Hortico Ltd 119 Cr. 74.086.0/39.014.3 26.10.00 %50.1 %35.2 % 10.0
TPL Plastech Ltd 758 Cr. 97.4136/47.434.8 17.20.83 %19.0 %15.8 % 2.00
Sintex Plastics Technology Ltd 67.4 Cr. 1.061.51/0.75 3.560.00 %276 %977 % 1.00
Plastiblends India Ltd 635 Cr. 248399/22718.4 1621.72 %11.1 %8.26 % 5.00
Pearl Polymers Ltd 58.9 Cr. 34.948.4/25.636.6 23.80.00 %2.60 %1.91 % 10.0
Industry Average504.00 Cr91.0726.0346.530.51%71.76%207.63%5.60

All Competitor Stocks of TPL Plastech Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales49.8658.1258.5262.1862.4467.2468.8372.0969.1078.4282.6682.7377.16
Expenses43.4651.2851.4655.6755.4259.8561.2564.4261.4769.6972.7372.9768.59
Operating Profit6.406.847.066.517.027.397.587.677.638.739.939.768.57
OPM %12.84%11.77%12.06%10.47%11.24%10.99%11.01%10.64%11.04%11.13%12.01%11.80%11.11%
Other Income0.020.020.020.020.020.021.200.020.020.010.000.470.01
Interest1.171.111.071.161.231.261.261.231.261.451.411.321.18
Depreciation1.080.981.121.431.361.391.391.341.491.571.361.201.38
Profit before tax4.174.774.893.944.454.766.135.124.905.727.167.716.02
Tax %26.86%23.90%25.15%25.38%25.17%19.12%17.94%25.59%25.51%25.52%17.88%21.14%25.58%
Net Profit3.053.643.662.953.333.855.043.813.654.265.886.074.48
EPS in Rs0.390.470.470.380.430.490.650.490.470.550.750.780.57

Last Updated: September 25, 2024, 2:48 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 25, 2024, 2:48 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales154190182178180192219209170229271313321
Expenses138172164157158168194185150202241277284
Operating Profit16171821222425242027303637
OPM %10%9%10%12%12%13%12%11%12%12%11%12%12%
Other Income0000001000100
Interest5555456655555
Depreciation4433334444566
Profit before tax891014151716151118202527
Tax %17%16%24%37%23%26%28%28%28%25%22%22%
Net Profit678911121111813162021
EPS in Rs0.810.920.981.101.451.591.461.361.031.712.062.542.65
Dividend Payout %25%22%20%23%21%22%24%26%34%23%29%31%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)16.67%14.29%12.50%22.22%9.09%-8.33%0.00%-27.27%62.50%23.08%25.00%
Change in YoY Net Profit Growth (%)0.00%-2.38%-1.79%9.72%-13.13%-17.42%8.33%-27.27%89.77%-39.42%1.92%

TPL Plastech Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:7%
3 Years:22%
TTM:15%
Compounded Profit Growth
10 Years:10%
5 Years:12%
3 Years:34%
TTM:30%
Stock Price CAGR
10 Years:20%
5 Years:51%
3 Years:37%
1 Year:82%
Return on Equity
10 Years:15%
5 Years:13%
3 Years:15%
Last Year:16%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 6:41 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital88888888816161616
Reserves25303645546372798487100115118
Borrowings41434224375658392920443128
Other Liabilities44403754506564687084657170
Total Liabilities117121123130148192202194190207224232232
Fixed Assets48474549516663615860568489
CWIP20016477792417
Investments0000011100000
Other Assets6774788091121132124124138144147137
Total Assets117121123130148192202194190207224232232

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +125933369312123-229
Cash from Investing Activity +-3-1-1-8-10-17-3-3-4-4-10-6
Cash from Financing Activity +-8-5-8-25612-7-28-19-1912-24
Net Cash Flow1-100-01-00-2-0-00

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-25.00-26.00-24.00-3.00-15.00-32.00-33.00-15.00-9.007.00-14.005.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days818271898890867893807364
Inventory Days7145645779129121124150116101103
Days Payable10669651061011321071231571438583
Cash Conversion Cycle4759694066871007986538983
Working Capital Days4558824987102105941238810989
ROCE %18%18%19%23%22%19%17%15%13%18%17%19%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters74.86%74.86%74.86%74.86%74.86%74.86%74.86%74.86%74.86%74.86%74.86%74.86%
FIIs0.03%0.00%0.00%0.01%0.00%0.00%0.05%0.00%0.00%0.01%0.12%0.26%
DIIs0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%
Public25.03%25.06%25.06%25.06%25.06%25.05%25.01%25.07%25.06%25.04%24.94%24.80%
No. of Shareholders9,3299,3629,4819,34111,44911,43112,80512,07313,80018,50421,93533,559

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 21Mar 20Mar 19
FaceValue2.002.0010.0010.0010.00
Basic EPS (Rs.)2.542.0610.2613.7814.65
Diluted EPS (Rs.)2.542.0610.2613.7814.65
Cash EPS (Rs.)3.262.7615.0418.5019.64
Book Value[Excl.RevalReserv]/Share (Rs.)16.7114.79117.84110.95101.39
Book Value[Incl.RevalReserv]/Share (Rs.)16.7114.79117.84110.95101.39
Revenue From Operations / Share (Rs.)40.1134.69218.56277.24289.94
PBDIT / Share (Rs.)4.683.9626.0131.2733.36
PBIT / Share (Rs.)3.963.2621.2326.5628.37
PBT / Share (Rs.)3.272.6214.2619.0720.21
Net Profit / Share (Rs.)2.542.0610.2613.7814.65
NP After MI And SOA / Share (Rs.)2.542.0610.2613.7814.65
PBDIT Margin (%)11.6711.4211.8911.2711.50
PBIT Margin (%)9.889.409.719.579.78
PBT Margin (%)8.147.566.526.876.97
Net Profit Margin (%)6.345.924.694.975.05
NP After MI And SOA Margin (%)6.345.924.694.975.05
Return on Networth / Equity (%)15.2213.898.7012.4214.44
Return on Capital Employeed (%)19.9817.4415.6820.2222.65
Return On Assets (%)8.567.144.215.375.50
Long Term Debt / Equity (X)0.070.130.050.080.12
Total Debt / Equity (X)0.190.320.240.410.66
Asset Turnover Ratio (%)1.370.000.871.041.10
Current Ratio (X)1.871.811.451.261.18
Quick Ratio (X)0.961.050.810.680.63
Inventory Turnover Ratio (X)3.840.002.282.813.34
Dividend Payout Ratio (NP) (%)23.5819.4534.1025.3923.88
Dividend Payout Ratio (CP) (%)18.3714.5023.2718.9217.82
Earning Retention Ratio (%)76.4280.5565.9074.6176.12
Cash Earning Retention Ratio (%)81.6385.5076.7381.0882.18
Interest Coverage Ratio (X)6.726.213.734.184.09
Interest Coverage Ratio (Post Tax) (X)4.654.222.472.842.80
Enterprise Value (Cr.)502.49258.89137.8082.02156.71
EV / Net Operating Revenue (X)1.610.950.800.370.69
EV / EBITDA (X)13.758.376.793.366.02
MarketCap / Net Operating Revenue (X)1.540.830.700.230.47
Retention Ratios (%)76.4180.5465.8974.6076.11
Price / BV (X)3.701.961.300.591.36
Price / Net Operating Revenue (X)1.540.830.700.230.47
EarningsYield0.040.070.060.200.10

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of TPL Plastech Ltd as of November 20, 2024 is: 95.36

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 20, 2024, TPL Plastech Ltd is Overvalued by 2.09% compared to the current share price 97.40

Intrinsic Value of TPL Plastech Ltd as of November 20, 2024 is: 115.20

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 20, 2024, TPL Plastech Ltd is Undervalued by 18.28% compared to the current share price 97.40

Last 5 Year EPS CAGR: 20.80%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 18.17%, which is a positive sign.
  2. The company has higher reserves (69.85 cr) compared to borrowings (37.85 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (216.00 cr) and profit (15.77 cr) over the years.
  1. The stock has a high average Working Capital Days of 85.92, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 71.50, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in TPL Plastech Ltd:
    1. Net Profit Margin: 6.34%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 19.98% (Industry Average ROCE: 71.76%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 15.22% (Industry Average ROE: 207.63%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 4.65
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.96
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 34.8 (Industry average Stock P/E: 20.82)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.19
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

TPL Plastech Ltd. is a Public Limited Listed company incorporated on 30/09/1992 and has its registered office in the State of Daman & Diu, India. Company’s Corporate Identification Number(CIN) is L25209DD1992PLC004656 and registration number is 004656. Currently Company is involved in the business activities of Manufacture of plastics products. Company’s Total Operating Revenue is Rs. 228.68 Cr. and Equity Capital is Rs. 15.60 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Plastics - Plastic & Plastic Products102, 1st Floor, Centre Point, Daman Daman & Diu 396210investors@tnpl.net.in
http://www.tplplastech.in
Management
NamePosition Held
Mr. Mahinder Kumar WadhwaChairman & Ind.Director
Mr. Mangesh SarfareNon Executive Director
Mrs. Monika SrivastavaNon Executive Director
Mr. Sanjaya KulkarniInd.& Non Exe.Director
Mr. Deepak BakhshiInd.& Non Exe.Director
Mr. Surya Pratap GuptaInd.& Non Exe.Director

FAQ

What is the latest intrinsic value of TPL Plastech Ltd?

The latest intrinsic value of TPL Plastech Ltd as on 20 November 2024 is ₹95.36, which is 2.09% lower than the current market price of ₹97.40.

What is the Market Cap of TPL Plastech Ltd?

The Market Cap of TPL Plastech Ltd is 758 Cr..

What is the current Stock Price of TPL Plastech Ltd as on 20 November 2024?

The current stock price of TPL Plastech Ltd as on 20 November 2024 is ₹97.4.

What is the High / Low of TPL Plastech Ltd stocks in FY 2024?

In FY 2024, the High / Low of TPL Plastech Ltd stocks is 136/47.4.

What is the Stock P/E of TPL Plastech Ltd?

The Stock P/E of TPL Plastech Ltd is 34.8.

What is the Book Value of TPL Plastech Ltd?

The Book Value of TPL Plastech Ltd is 17.2.

What is the Dividend Yield of TPL Plastech Ltd?

The Dividend Yield of TPL Plastech Ltd is 0.83 %.

What is the ROCE of TPL Plastech Ltd?

The ROCE of TPL Plastech Ltd is 19.0 %.

What is the ROE of TPL Plastech Ltd?

The ROE of TPL Plastech Ltd is 15.8 %.

What is the Face Value of TPL Plastech Ltd?

The Face Value of TPL Plastech Ltd is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in TPL Plastech Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE