AngelOne has recommended Time Technoplast Ltd as one of its top Diwali stock picks for 2024, assigning a target price of ₹550. With the current market price at ₹438, Time Technoplast offers an upside potential of 26%. A key player in the plastic products sector, the company provides a diverse range of polymer-based solutions across various industries, including packaging, healthcare, automotive, and infrastructure.
Quick Overview of Key Financials
| Parameter | Value |
|---|---|
| Current Market Price (CMP) | ₹438 |
| Target Price | ₹550 |
| Upside Potential | 26% |
| Market Cap | ₹9,933 crore |
| Beta | 1.4 |
| Sector | Plastic Products |
Key Investment Highlights for Time Technoplast Ltd
- Diverse Product Portfolio across Industries
Time Technoplast offers a broad range of polymer products catering to sectors such as packaging, lifestyle products, auto components, healthcare, and infrastructure. This diversified portfolio supports its position as a key player in the Indian plastic packaging industry. - Noteworthy Financial Performance in Q1FY25
In Q1FY25, the company recorded a 13.9% year-on-year increase in revenue, reaching ₹1,230 crore, and a 40.3% YoY growth in net profit, totaling ₹80 crore. This growth is attributed to increased demand in both industrial and consumer packaging segments. - Growth Driven by Rising Demand for Packaged Goods and E-commerce
The growing demand for packaged products, especially in the consumer and industrial segments, along with the expansion of e-commerce, is expected to drive Time Technoplast’s revenue. The company is well-positioned to benefit from these trends given its strong product offerings and established market presence. - Strong Position in Indian Packaging Industry
Time Technoplast’s extensive market reach and innovation in plastic packaging solutions bolster its competitive position. The company’s strategic focus on expanding its capabilities in packaging is likely to further enhance its growth trajectory.
Key Financials Overview
| Year | Sales (₹ Cr) | PAT (₹ Cr) | EPS (₹) | OPM (%) | ROE (%) | P/E (x) | P/BV (x) | EV/Sales (x) |
|---|---|---|---|---|---|---|---|---|
| FY2024 | 4,993 | 310 | 14 | 14.1 | 12.2 | 18.2 | 2.2 | 1.9 |
| FY2023 | 4,289 | 219 | 10 | 13.5 | 9.7 | 7.9 | 0.7 | 2.1 |
| FY2022 | 3,650 | 188 | 8 | 13.9 | 9.1 | 7.7 | 0.7 | 2.6 |
Conclusion
Time Technoplast Ltd’s broad portfolio, strong position in the packaging industry, and robust growth in key financial metrics make it an attractive pick for investors. AngelOne’s target price of ₹550, indicating a 26% upside, underscores the company’s growth potential amid rising demand in the packaging sector.
Disclaimer: This article is based on AngelOne’s research and is intended for informational purposes only. Investors are encouraged to consult a financial advisor and refer to the detailed research report before making any investment decisions.