Capitaline

Analyst Meet / AGM 15-Nov-19

Conference Call

Time Technoplast

Expects a topline growth of 12% in FY20

Time Technoplast held conference call to discuss the performance for the quarter ended September 2019. Managing Director & CEO- Mr. Anil Jain, Director Finance- Mr. Bharat Vageria, Sr. VP Accounts & Corp. Planning- Mr. Sandip Modi and Head Legal & CS of TIME Group- Mr. Hemant Soni of the company addressed the concall.
Highlights of the Concall

Revenue growth achieved during H1FY20 was 8% (India was 8% while Overseas–7%)

Volume growth achieved during H1FY20 was 12% (India was13% while Overseas–12%)

India revenue was 69% of total sales in H1FY20 while overseas sales formed 31% same as in H1FY19

India EBITDA margin was 14.36% in H1FY20 while overseas EBITDA margin was 14.04%.

Effective Tax Rate during H1FY20 was 25.35% (India was 28.71% while Overseas17.95%)

Total Debt as of H1FY20 is at Rs 845.3 crore as against Rs 839.9 crore in FY19

The value added products grew by 12% in H1FY20 as compared to the H1FY19.The share of value added products is 21% of the total sales in H1FY20 as against 20% in Q1FY19.The company's focus remains to increase the share of value added products in its revenue.

The company has made an assessment of the impact of the new taxation Law and decided to continue with the existing tax structure until utilization of accumulated minimum alternative tax (MAT) credit

Capacity utilisation in H1FY20 was 81%. India CU was 84% while overseas 74%.

Total capex in H1FY20 was Rs 64 crore out of which Rs 41.6 crore was for established Products for capacity expansion, re-engineering and automation while Rs 22.4 crore was for value added products

Order Book in PE Pipe business was Rs 325 crore.

The supply of newly launched new generation multilayer PE pipes for power /communication cable duct with silicon in-lining continues to get overwhelming business. The pipes/ducts have substantial business potential especially in Smart Cities.

The company has completed Greenfield project for manufacturing of IBC Bottle in Chicago & Houston, USA and commenced commercial sale for which it is receiving overwhelming response

Project of Greenfield manufacturing facility at Malurnear Bengaluru, India for manufacturing of packaging product is completed and production started in Q1 of FY20.

The company continues to do brownfield expansion in India and overseas locations for future growth and leveraging of existing infrastructures.

The company is innovating newer applications of the MOX films. The company is launching new products in the market like Truck covers, Pond Liners, Mulching Film & Poly house Films

The company has launched new range of next Generation Matting products i.e. Duro Gel & Duro Comfort.

The company expects a topline growth of 12% in FY20.

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