Time Technoplast Q4 Review - Higher Margin Leads Strong Bottomline Growth: ICICI Direct
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ICICI Direct Report
Time Technoplast Ltd. reported strong bottomline growth of 40% YoY in Q4 FY21 led by improved Ebitda margin (up 63 basis points YoY) and 9% YoY drop in interest outgo (gross debt fell 11% YoY in FY21).
On the topline front, the company’s topline growth was at ~4% YoY led by 7% growth in the value added product categories.
For FY21, value added products (~20% of topline) recovery was faster at 87% versus 83% business recovery in the established product segments.
Overall revenue recovery was 84% of its pre-Covid-19 level.
In the short-term, business recovery will be again challenged by lockdown related demand disruptions in Q1 FY22.
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