Shares of this multibagger stock under the ‘small-cap’ category zoomed around 14 percent in Tuesday’s trading session after the company announced financial results for the quarter ended December 2023. In the past six months, the company’s stock has gained nearly 50 percent for its stakeholders.
With a market capitalization of Rs 4,426.25 crores, the stocks of Time Technoplast Limited started their trading session on Tuesday at Rs 186.15 and currently trade at Rs 200.
The company’s scrip witnessed an intra-day high, also marked as the fresh 52-week high level, of Rs 198.55 gaining around 14 percent compared to the previous closing levels of Rs 173.85 apiece.
Such bullish share price movements are observed today after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced financial results for Q3FY23-24, i.e., for the December 2023 quarter.
Sequentially, the prime indicators of business, viz, operating revenues as well as after-tax profits, showed positive movements with the former increasing from Rs 1,194 crores during Q2FY24 to Rs 1,325 crores during Q3FY24, and the latter, keeping the timeframe the same, moving from Rs 71 crores to Rs 93 crores.
On a YoY basis, the metrics mentioned above have shown good performance with the operating revenues increasing from Rs 1,129 crores during Q3FY23 to Rs 1,325 crores during Q3FY24, and the after-tax profits, during the same period, taking a shift from Rs 63 crores to Rs 93 crores exhibiting a gain of around 48 percent.
Keeping a purview of one year, the company’s stock has delivered multibagger returns of approximately 130 percent to its stakeholders, viz, if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.30 lakhs.
According to the latest shareholding pattern for the December 2023 quarter, the company’s Promoters hold a 51.51 percent stake, and the Foreign Institutional Investors, marginally decreasing their stake, currently hold a stake of 5.7 percent stake in the company.
Incorporated in 1992, Time Technoplast Limited is engaged in providing packaging solutions. The company offers industrial packaging products, infrastructure products, technical products, composite cylinders, and material handling products. It has operational footprints in the UAE, Thailand, Indonesia, Taiwan, and many other countries across the globe.
Written by Amit Madnani
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