Time Technoplast's Q4 results show strong financial performance and positive outlook.
Time Technoplast, a midcap company in the plastic products industry, has recently declared its financial results for the quarter ending March 2024. The company has received a 'Buy' call from MarketsMOJO, indicating a positive outlook for its stock.In the last quarter, Time Technoplast has shown a significant improvement in its financial performance. The company's Profit Before Tax (PBT) has grown by 45.22% year on year, reaching Rs 109.32 crore. This is a clear indication of the company's strong financial management and growth potential. The Profit After Tax (PAT) has also seen a growth of 41.4% year on year, reaching Rs 79.31 crore. This shows that the company is not only increasing its revenue but also managing its expenses effectively.
One of the key factors contributing to Time Technoplast's success is its low Debt-Equity Ratio, which is currently at 0.33 times. This ratio has been consistently decreasing over the last five half yearly periods, indicating that the company is reducing its borrowing and becoming more financially stable. Additionally, the company's Inventory Turnover Ratio has also been consistently increasing, reaching a high of 4.75 times in the last half yearly period. This shows that Time Technoplast is able to sell its inventory at a faster rate, leading to better cash flow.
Speaking of cash flow, Time Technoplast has also shown a strong position in terms of Cash and Cash Equivalents. In the last six half yearly periods, the company has maintained a high level of cash reserves, with the latest figure being Rs 153.47 crore. This indicates that the company has a strong liquidity position and is well-equipped to handle any short-term financial needs.
Overall, Time Technoplast's financial results for the quarter ending March 2024 have been positive and show a promising future for the company. With a 'Buy' call from MarketsMOJO and strong financial indicators, investors can be confident in the company's growth potential.
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