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Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of TPL Plastech Ltd

About the Company - TPL Plastech Ltd

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

TPL Plastech Ltd. Share Price Update

Share PriceValue
Today₹63.95
Previous Day₹66.52

Basic Stock Data of TPL Plastech Ltd

Market Cap 560 Cr.
Current Price 71.8
High / Low78.0/26.9
Stock P/E31.8
Book Value 15.2
Dividend Yield0.83 %
ROCE17.2 %
ROE13.9 %
Face Value 2.00

Data Source: screener.in

Competitors of TPL Plastech Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Plastiblends India Ltd 717 Cr. 276358/13922.1 1531.44 %9.20 %6.82 % 5.00
Sintex Plastics Technology Ltd 73.2 Cr. 1.152.51/0.98 3.560.00 %276 %977 % 1.00
Supreme Industries Ltd 49,198 Cr. 3,8734,888/2,43045.8 3630.67 %26.8 %21.0 % 2.00
Padmanabh Alloys & Polymers Ltd 14.4 Cr. 26.645.9/0.0060.1 16.20.00 %6.40 %3.20 % 10.0
Parin Furniture Ltd 145 Cr. 130140/64.637.4 44.60.00 %8.26 %5.67 % 10.0
Industry Average199.72 Cr87.3533.08116.070.42%65.33%202.74%5.6

TPL Plastech Ltd Quarterly Results

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

TPL Plastech Ltd Quarterly Chart

TPL Plastech Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales128154190182178180192219209170229271288
Expenses114138172164157158168194185150202241257
Operating Profit14161718212224252420273032
OPM %11%10%9%10%12%12%13%12%11%12%12%11%11%
Other Income0000000100011
Interest4555545665555
Depreciation3443333444456
Profit before tax78910141517161511182022
Tax %17%17%16%24%37%23%26%28%28%28%25%22%
Net Profit66789111211118131617
EPS in Rs0.750.810.920.981.101.451.591.461.361.031.712.062.16
Dividend Payout %27%25%22%20%23%21%22%24%26%34%23%29%

TPL Plastech Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth
Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)0.00%16.67%14.29%12.50%22.22%9.09%-8.33%0.00%-27.27%62.50%23.08%
Change in YoY Net Profit Growth (%)0.00%16.67%-2.38%-1.79%9.72%-13.13%-17.42%8.33%-27.27%89.77%-39.42%

TPL Plastech Ltd 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:22%
5 Years:41%
3 Years:70%
1 Year:118%
Return on Equity
10 Years:15%
5 Years:13%
3 Years:12%
Last Year:14%

TPL Plastech Ltd 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

TPL Plastech Ltd 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

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%

TPL Plastech Ltd Financial Efficiency Indicators Chart

TPL Plastech Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters75.00%75.00%75.00%74.86%74.86%74.86%74.86%74.86%74.86%74.86%74.86%74.86%
FIIs0.02%0.02%0.00%0.03%0.00%0.00%0.01%0.00%0.00%0.05%0.00%0.00%
DIIs0.09%0.09%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%
Public24.90%24.90%24.92%25.03%25.06%25.06%25.06%25.06%25.05%25.01%25.07%25.06%
No. of Shareholders6,1096,31810,0499,3299,3629,4819,34111,44911,43112,80512,07313,800

TPL Plastech Ltd Shareholding Pattern Chart

No. of TPL Plastech Ltd Shareholders

This stock is not held by any mutual fund

TPL Plastech Ltd ROCE Trend

TPL Plastech Ltd EPS Trend

TPL Plastech Ltd 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

TPL Plastech Ltd Profitability Ratios (%)

TPL Plastech Ltd Liquidity Ratios

TPL Plastech Ltd Liquidity Ratios (%)

TPL Plastech Ltd Interest Coverage Ratios (X)

TPL Plastech Ltd Valuation Ratios

Fair Value / Intrinsic Value of TPL Plastech Ltd

Fair Value: ₹67.74

The stock is overvalued by 5.65% compared to the current price ₹71.8

*Investments are subject to market risks

Strength and Weakness of TPL Plastech Ltd

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 (200.31 cr) and profit (14.08 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 25.50 and average Dividend Yield of 10.11%.
  2. The stock has a high average Working Capital Days of 82.58, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 68.92, which may not be favorable.

Should I Buy TPL Plastech Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding 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: 12.61%)
      • 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. 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.
    4. 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.
    5. ✓ Stock P/E: 31.8 (Industry average Stock P/E: 33.24)
      • 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.
    6. ✓ 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 suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

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