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Last Updated on: 30 May, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of TPL Plastech Ltd

Basic Stock Data

Last Updated: May 30, 2024, 7:48 am

Market Cap 672 Cr.
Current Price 86.2
High / Low107/38.6
Stock P/E33.8
Book Value 16.7
Dividend Yield0.69 %
ROCE19.3 %
ROE16.2 %
Face Value 2.00
PEG Ratio2.54

Competitors of TPL Plastech Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Supreme Industries Ltd 71,562 Cr. 5,6385,843/2,72869.3 4020.53 %28.6 %21.7 % 2.00
Padmanabh Alloys & Polymers Ltd 14.0 Cr. 25.845.9/19.158.2 16.20.00 %6.40 %3.20 % 10.0
Nilkamal Ltd 2,767 Cr. 1,8542,805/1,69022.6 9451.08 %11.4 %8.98 % 10.0
Mold-Tek Packaging Ltd 2,858 Cr. 8601,105/74139.9 1790.70 %19.6 %16.1 % 5.00
Bright Brothers Ltd 86.2 Cr. 152200/135 1190.66 %1.87 %6.80 % 10.0
Industry Average15,457.44 Cr1,705.9638.00332.240.59%13.57%11.36%7.40

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales47.2952.5149.8658.1258.5262.1862.4467.2468.8372.0969.1078.4282.66
Expenses41.4645.8243.4651.2851.4655.6755.4259.8561.2564.4261.4769.6972.73
Operating Profit5.836.696.406.847.066.517.027.397.587.677.638.739.93
OPM %12.33%12.74%12.84%11.77%12.06%10.47%11.24%10.99%11.01%10.64%11.04%11.13%12.01%
Other Income0.000.000.020.020.020.020.020.021.200.020.020.010.00
Interest1.321.261.171.111.071.161.231.261.261.231.261.451.41
Depreciation0.900.911.080.981.121.431.361.391.391.341.491.571.36
Profit before tax3.614.524.174.774.893.944.454.766.135.124.905.727.16
Tax %27.98%28.10%26.86%23.90%25.15%25.38%25.17%19.12%17.94%25.59%25.51%25.52%17.88%
Net Profit2.603.263.053.643.662.953.333.855.043.813.654.265.88
EPS in Rs0.330.420.390.470.470.380.430.490.650.490.470.550.75

Last Updated: May 10, 2024, 4:23 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 27, 2024, 4:19 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales154190182178180192219209170229271313
Expenses138172164157158168194185150202241277
Operating Profit161718212224252420273036
OPM %10%9%10%12%12%13%12%11%12%12%11%12%
Other Income000000100010
Interest555545665555
Depreciation443333444456
Profit before tax8910141517161511182025
Tax %17%16%24%37%23%26%28%28%28%25%22%22%
Net Profit6789111211118131620
EPS in Rs0.810.920.981.101.451.591.461.361.031.712.062.54
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%

Growth

Compounded Sales Growth
10 Years:6%
5 Years:7%
3 Years:9%
TTM:16%
Compounded Profit Growth
10 Years:9%
5 Years:4%
3 Years:13%
TTM:16%
Stock Price CAGR
10 Years:19%
5 Years:40%
3 Years:57%
1 Year:141%
Return on Equity
10 Years:15%
5 Years:13%
3 Years:12%
Last Year:14%

Last Updated: April 15, 2024, 11:18 am

Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital8888888888161616
Reserves2125303645546372798487100103
Borrowings42414342243756583929204444
Other Liabilities33444037545065646870846576
Total Liabilities104117121123130148192202194190207224238
Fixed Assets48484745495166636158605681
CWIP22001647779244
Investments0000001110000
Other Assets536774788091121132124124138144153
Total Assets104117121123130148192202194190207224238

Reserves and Borrowings Chart

TPL Plastech Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 8125933369312123-2
Cash from Investing Activity -11-3-1-1-8-10-17-3-3-4-4-10
Cash from Financing Activity 3-8-5-8-25612-7-28-19-1912
Net Cash Flow01-100-01-00-2-0-0

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-25.00-26.00-24.00-3.00-15.00-32.00-33.00-15.00-9.007.00-14.0036.00

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

TPL Plastech Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days868182718988908678938073
Inventory Days607145645779129121124150116101
Days Payable94106696510610113210712315714385
Cash Conversion Cycle5247596940668710079865389
Working Capital Days4945588249871021059412388109
ROCE %18%18%18%19%23%22%19%17%15%13%18%17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters75.00%75.00%74.86%74.86%74.86%74.86%74.86%74.86%74.86%74.86%74.86%74.86%
FIIs0.02%0.00%0.03%0.00%0.00%0.01%0.00%0.00%0.05%0.00%0.00%0.01%
DIIs0.09%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%
Public24.90%24.92%25.03%25.06%25.06%25.06%25.06%25.05%25.01%25.07%25.06%25.04%
No. of Shareholders6,31810,0499,3299,3629,4819,34111,44911,43112,80512,07313,80018,504

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 21Mar 20Mar 19Mar 18Mar 17
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)10.2613.7814.6515.5914.46
Diluted EPS (Rs.)10.2613.7814.6515.5914.46
Cash EPS (Rs.)15.0418.5019.6419.7118.12
Book Value[Excl.RevalReserv]/Share (Rs.)117.84110.95101.3990.9678.67
Book Value[Incl.RevalReserv]/Share (Rs.)117.84110.95101.3990.9678.67
Revenue From Operations / Share (Rs.)218.56277.24289.94246.99230.95
PBDIT / Share (Rs.)26.0131.2733.3630.9928.13
PBIT / Share (Rs.)21.2326.5628.3726.8824.47
PBT / Share (Rs.)14.2619.0720.2121.0918.85
Net Profit / Share (Rs.)10.2613.7814.6515.5914.46
NP After MI And SOA / Share (Rs.)10.2613.7814.6515.5914.46
PBDIT Margin (%)11.8911.2711.5012.5412.17
PBIT Margin (%)9.719.579.7810.8810.59
PBT Margin (%)6.526.876.978.548.16
Net Profit Margin (%)4.694.975.056.316.26
NP After MI And SOA Margin (%)4.694.975.056.316.26
Return on Networth / Equity (%)8.7012.4214.4417.1418.38
Return on Capital Employeed (%)15.6820.2222.6522.0225.01
Return On Assets (%)4.215.375.506.217.64
Long Term Debt / Equity (X)0.050.080.120.220.12
Total Debt / Equity (X)0.240.410.660.710.58
Asset Turnover Ratio (%)0.871.041.101.130.00
Current Ratio (X)1.451.261.181.161.22
Quick Ratio (X)0.810.680.630.630.79
Inventory Turnover Ratio (X)2.282.813.343.880.00
Dividend Payout Ratio (NP) (%)34.1025.3923.8819.240.00
Dividend Payout Ratio (CP) (%)23.2718.9217.8215.220.00
Earning Retention Ratio (%)65.9074.6176.1280.760.00
Cash Earning Retention Ratio (%)76.7381.0882.1884.780.00
Interest Coverage Ratio (X)3.734.184.095.365.00
Interest Coverage Ratio (Post Tax) (X)2.472.842.803.703.57
Enterprise Value (Cr.)137.8082.02156.71345.81439.42
EV / Net Operating Revenue (X)0.800.370.691.792.44
EV / EBITDA (X)6.793.366.0214.3020.03
MarketCap / Net Operating Revenue (X)0.700.230.471.542.25
Retention Ratios (%)65.8974.6076.1180.750.00
Price / BV (X)1.300.591.364.196.59
Price / Net Operating Revenue (X)0.700.230.471.542.25
EarningsYield0.060.200.100.040.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: ₹92.07

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.

Undervalued: 6.81% compared to the current price ₹86.2

Intrinsic Value: ₹104.33

Calculation basis:

  • Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 21.03% compared to the current price ₹86.2

Last 5 Year EPS CAGR: 13.31%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 18.08%, which is a positive sign.
  2. The company has higher reserves (61.46 cr) compared to borrowings (39.92 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (207.25 cr) and profit (14.83 cr) over the years.
  1. The stock has a high average Working Capital Days of 82.58, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 68.92, 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: 4.69%
      • 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: 15.68% (Industry Average ROCE: 13.57%)
      • 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%: 8.70% (Industry Average ROE: 11.36%)
      • 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): 2.47
      • 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: 0.81
      • 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: 33.8 (Industry average Stock P/E: 38)
      • 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: 0.24
      • 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

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. M K WadhwaChairman & Ind.Director
Mr. Mangesh SarfareNon Executive Director
Mrs. Monika SrivastavaNon Executive Director
Mr. Sanjaya KulkarniInd. Non-Executive Director
Mr. Deepak BakhshiInd. Non-Executive Director
Mr. Surya Pratap GuptaInd. Non-Executive Director

FAQ

What is the latest fair value of TPL Plastech Ltd?

The latest fair value of TPL Plastech Ltd is ₹92.07.

What is the Market Cap of TPL Plastech Ltd?

The Market Cap of TPL Plastech Ltd is 672 Cr..

What is the current Stock Price of TPL Plastech Ltd as on 30 May 2024?

The current stock price of TPL Plastech Ltd as on 30 May 2024 is ₹86.2.

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 107/38.6.

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

The Stock P/E of TPL Plastech Ltd is 33.8.

What is the Book Value of TPL Plastech Ltd?

The Book Value of TPL Plastech Ltd is 16.7.

What is the Dividend Yield of TPL Plastech Ltd?

The Dividend Yield of TPL Plastech Ltd is 0.69 %.

What is the ROCE of TPL Plastech Ltd?

The ROCE of TPL Plastech Ltd is 19.3 %.

What is the ROE of TPL Plastech Ltd?

The ROE of TPL Plastech Ltd is 16.2 %.

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