BSE: 526217 | NSE: HITECHCORP | Plastic Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Hitech Corporation Ltd is a average quality company.
The key valuation ratios of Hitech Corporation Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Hitech Corporation Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 13.4% | 14.7% | 10.1% | 9.2% | 13.8% | 7.9% | 12.5% | 20.8% | 16.6% | 13.9% | - |
| Value Creation Index ⓘ | 0.0 | 0.1 | -0.3 | -0.3 | 0.0 | -0.4 | -0.1 | 0.5 | 0.2 | 0.0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 465 | 393 | 367 | 388 | 462 | 460 | 447 | 588 | 559 | 562 | 554 |
| Sales YoY Gr. | - | -15.6% | -6.5% | 5.8% | 18.9% | -0.4% | -2.8% | 31.6% | -5.1% | 0.6% | - |
| Adj EPS ⓘ | 4.6 | 8.1 | 5.4 | 2.2 | 3.6 | 2.7 | 7.4 | 17.6 | 14.7 | 12.7 | 10.7 |
| YoY Gr. | - | 78.5% | -34% | -59% | 63.6% | -23.9% | 168.6% | 139.1% | -16.7% | -13.6% | - |
| BVPS (₹) ⓘ | 74.2 | 78.9 | 83.9 | 87.3 | 95.7 | 96.3 | 106 | 126.3 | 141.6 | 153.4 | 155.7 |
| Adj Net Profit ⓘ | 6.9 | 13.9 | 9.2 | 3.8 | 6.2 | 4.7 | 12.6 | 30.2 | 25.2 | 21.8 | 18 |
| Cash Flow from Ops. ⓘ | 38.6 | 41.2 | 37.3 | 42.7 | 85.6 | 56.3 | 64.8 | 72.7 | 69.3 | 54.6 | - |
| Debt/CF from Ops. ⓘ | 1.8 | 0.9 | 2.9 | 3.8 | 2.1 | 3.2 | 2.2 | 1.3 | 0.9 | 1.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 2.1% | 4% | 7.9% | 0.6% | ||||
| Adj EPS ⓘ | 12.1% | 28.6% | 19.9% | -13.6% | ||||
| BVPSⓘ | 8.4% | 9.9% | 13.1% | 8.3% | ||||
| Share Price | 7% | 21.2% | -1.6% | -16.2% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 6 | 8.9 | 5.9 | 2.6 | 3.9 | 2.9 | 7.3 | 15.2 | 11 | 8.6 | 6.9 |
| Op. Profit Mgn % ⓘ | 8.7 | 11.6 | 9.5 | 9.6 | 11 | 12.8 | 14.3 | 14.6 | 12.7 | 12.7 | 12.3 |
| Net Profit Mgn % ⓘ | 1.5 | 3.6 | 2.5 | 1 | 1.3 | 1 | 2.8 | 5.1 | 4.5 | 3.9 | 3.3 |
| Debt to Equity ⓘ | 0.5 | 0.2 | 0.8 | 1.1 | 1.1 | 1.1 | 0.8 | 0.4 | 0.3 | 0.3 | - |
| Working Cap Days ⓘ | 66 | 108 | 130 | 141 | 111 | 94 | 90 | 91 | 120 | 128 | 31 |
| Cash Conv. Cycle ⓘ | 42 | 64 | 72 | 81 | 67 | 55 | 50 | 39 | 39 | 38 | 4 |
Net Profit is growing at healthy rate in last 3 years 19.85%
Return on Equity has declined versus last 3 years average to 6.90%
Sales growth has been subdued in last 3 years 7.91%
Sales growth is not so good in last 4 quarters at -0.30%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 10.7 | 6.2 |
| TTM Sales (₹ Cr.) | 554 | 419 |
| BVPS (₹.) ⓘ | 155.7 | 0 |
| Reserves (₹ Cr.) ⓘ | 250 | 113 |
| P/BV ⓘ | 1.51 | 0.00 |
| PE ⓘ | 21.95 | 37.97 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 180.00 / 350.50 |
| All Time Low / High (₹) | 1.00 / 350.50 |
| Market Cap (₹ Cr.) | 403 |
| Equity (₹ Cr.) | 17.2 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 39.5 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 465 | 393 | 367 | 388 | 462 | 460 | 447 | 588 | 559 | 562 |
| Operating Expenses ⓘ | 425 | 347 | 332 | 351 | 411 | 401 | 383 | 503 | 488 | 491 |
| Manufacturing Costs | 75 | 48 | 32 | 36 | 46 | 48 | 42 | 37 | 42 | 45 |
| Material Costs | 298 | 234 | 229 | 238 | 285 | 275 | 265 | 371 | 350 | 339 |
| Employee Cost | 27 | 26 | 27 | 29 | 31 | 31 | 29 | 31 | 36 | 40 |
| Other Costs ⓘ | 25 | 39 | 44 | 49 | 49 | 48 | 47 | 63 | 60 | 68 |
| Operating Profit ⓘ | 40 | 46 | 35 | 37 | 51 | 59 | 64 | 86 | 71 | 71 |
| Operating Profit Margin (%) | 8.7% | 11.6% | 9.5% | 9.6% | 11.0% | 12.8% | 14.3% | 14.6% | 12.7% | 12.7% |
| Other Income ⓘ | 1 | 1 | 1 | 6 | 1 | 1 | 1 | 1 | 5 | 3 |
| Interest ⓘ | 16 | 11 | 9 | 14 | 20 | 24 | 19 | 16 | 14 | 14 |
| Depreciation ⓘ | 16 | 16 | 13 | 18 | 21 | 30 | 30 | 30 | 29 | 30 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 15 | -3 | 6 | 10 | 4 | 0 |
| Profit Before Tax ⓘ | 9 | 20 | 14 | 12 | 26 | 4 | 22 | 50 | 37 | 30 |
| Tax ⓘ | 2 | 6 | 4 | 4 | 9 | 1 | 5 | 13 | 9 | 8 |
| Profit After Tax | 7 | 14 | 9 | 8 | 16 | 2 | 17 | 37 | 28 | 22 |
| PAT Margin (%) | 1.5% | 3.6% | 2.5% | 2.0% | 3.6% | 0.5% | 3.8% | 6.4% | 5.1% | 3.9% |
| Adjusted EPS (₹) | 4.5 | 7.8 | 5.5 | 4.5 | 9.6 | 1.4 | 9.9 | 21.8 | 16.5 | 12.8 |
| Dividend Payout Ratio (%) | 20% | 11% | 17% | 20% | 9% | 0% | 10% | 5% | 6% | 8% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 144 | 166 | 144 | 150 | 164 | 165 | 182 | 217 | 243 | 263 |
| Share Capital ⓘ | 46 | 48 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 |
| Reserves ⓘ | 97 | 118 | 127 | 133 | 147 | 148 | 165 | 200 | 226 | 246 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 61 | 30 | 105 | 153 | 172 | 157 | 115 | 65 | 38 | 57 |
| Long Term Debt | 9 | 5 | 49 | 82 | 110 | 94 | 63 | 38 | 15 | 25 |
| Short Term Debt | 52 | 25 | 56 | 71 | 62 | 63 | 52 | 27 | 23 | 33 |
| Trade Payables | 18 | 14 | 28 | 21 | 16 | 16 | 18 | 20 | 17 | 19 |
| Others Liabilities ⓘ | 27 | 23 | 27 | 31 | 51 | 47 | 53 | 128 | 126 | 141 |
| Total Liabilities ⓘ | 249 | 234 | 303 | 355 | 404 | 386 | 369 | 429 | 425 | 481 |
Fixed Assets | ||||||||||
| Gross Block | 260 | 235 | 152 | 186 | 285 | 354 | 347 | 368 | 378 | 431 |
| Accumulated Depreciation | 138 | 139 | 13 | 30 | 51 | 79 | 103 | 131 | 157 | 181 |
| Net Fixed Assetsⓘ | 121 | 97 | 139 | 156 | 234 | 275 | 243 | 238 | 221 | 250 |
| CWIP ⓘ | 1 | 2 | 8 | 44 | 39 | 2 | 3 | 2 | 6 | 15 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 1 | 1 | 8 | 0 | 0 | 1 |
| Inventories | 26 | 30 | 33 | 37 | 40 | 35 | 39 | 44 | 37 | 42 |
| Trade Receivables | 74 | 61 | 87 | 75 | 56 | 43 | 44 | 43 | 37 | 42 |
| Cash Equivalents | 3 | 2 | 1 | 3 | 1 | 1 | 1 | 1 | 3 | 1 |
| Others Assetsⓘ | 24 | 42 | 35 | 39 | 33 | 29 | 31 | 102 | 121 | 130 |
| Total Assets ⓘ | 249 | 234 | 303 | 355 | 404 | 386 | 369 | 429 | 425 | 481 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 39 | 41 | 37 | 43 | 86 | 56 | 65 | 73 | 69 | 55 |
| PBT ⓘ | 9 | 20 | 14 | 12 | 26 | 4 | 22 | 50 | 37 | 30 |
| Adjustment ⓘ | 32 | 27 | 24 | 32 | 42 | 54 | 44 | 41 | 35 | 42 |
| Changes in Working Capital ⓘ | 2 | 0 | 6 | 2 | 25 | 1 | 4 | -3 | 7 | -10 |
| Tax Paid ⓘ | -5 | -7 | -6 | -4 | -7 | -2 | -6 | -16 | -11 | -7 |
| Cash Flow From Investing Activity ⓘ | -6 | -7 | -63 | -80 | -84 | -25 | -9 | -6 | -16 | -48 |
| Capex | -6 | -8 | -63 | -81 | -85 | -26 | -17 | -19 | -16 | -47 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 1 | 7 | 13 | 0 | -1 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | -33 | -35 | 27 | 41 | -6 | -31 | -52 | -65 | -52 | -8 |
| Net Proceeds from Shares ⓘ | 11 | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -32 | -4 | 6 | 45 | 32 | -5 | -1 | -23 | -31 | 0 |
| Interest Paid ⓘ | -17 | -10 | -6 | -11 | -18 | -22 | -17 | -15 | -14 | -14 |
| Dividend Paid ⓘ | -1 | -2 | -2 | -2 | -2 | -2 | 0 | -2 | -2 | -2 |
| Others ⓘ | 7 | -27 | 28 | 9 | -19 | -2 | -34 | -25 | -5 | 8 |
| Net Cash Flow ⓘ | 0 | -1 | 1 | 3 | -5 | 1 | 4 | 2 | 2 | -2 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 6.89 | 11.38 | 6.69 | 5.28 | 10.43 | 1.43 | 9.76 | 18.74 | 12.31 | 8.69 |
| ROCE (%) | 13.44 | 14.7 | 10.06 | 9.2 | 13.79 | 7.87 | 12.45 | 20.83 | 16.56 | 13.86 |
| Asset Turnover Ratio | 2.41 | 1.79 | 1.5 | 1.21 | 1.22 | 1.17 | 1.19 | 1.48 | 1.31 | 1.24 |
| PAT to CFO Conversion(x) | 5.57 | 2.93 | 4.11 | 5.38 | 5.38 | 28 | 3.82 | 1.97 | 2.46 | 2.5 | Working Capital Days |
| Receivable Days | 38 | 57 | 67 | 75 | 52 | 39 | 36 | 27 | 26 | 26 |
| Inventory Days | 15 | 24 | 28 | 32 | 31 | 30 | 30 | 26 | 26 | 26 |
| Payable Days | 17 | 25 | 34 | 37 | 23 | 21 | 24 | 19 | 19 | 19 |
Hitech Plast (HPL) incorporated in 1991; is engaged in the manufacturing and marketing of innovative polymer products to various industries paints, personal care and cosmetic packaging, agro chemicals and lube, health and pharma products, confectionary and retail household products.
HPL has two subsidiaries, namely Clear Plastics and Mipak Polymers. The company has manufacturing units located at Guwahati(Assam), Dadra (Silvassa), Daman, Umergaon (Gujarat), Sitargunj (Uttarakhand), Baddi (Himachal Pradesh), Sarigam (Gujarat), Naroli (Silvassa), Puducherry and Pune.
Currently the company can manufacture containers in the size of 1/5 litre to 20 litres.
The company has entered into a technical collaboration with CHT Design Services Pty,
The company’s manufacturing units have received ISO 9001:2000, IS0 14001:2004, OHSAS 18001:1999, and ISO 22000:2005 certifications for its quality management.
The company caters to 6 sectors, viz. Paints, Consumer Goods, Pesticides, Lube, Health care and Industrial. The company has clientele namely Asian Paints, Nerolac, Castrol, Pear, Dove, Sandoz and many more.
Milestone
1991- The company was incorporated.
1992- Company entered a technical collaboration with
1996- The company signed license agreement with CHT design services Pty to for manufacturing L 20 containers, DG pail.
1999- The company started production of DG Pails with unique Plifer Proof Design.
2001- The Company acquired 51% in Multitech Plast Containers having its unit in Silvassa.
2003- The company acquired stakes in Clear Plastics group of companies.
2004- HPL started setting up a new manufacturing unit at Puducherry and Baddi, Himachal Pradesh, through CPL.
2005- The company established a new manufacturing unit at Sri Perumbudur in Tamil Nadu.
2006- HPL acquired shares in Mipak polymers.
2007-Company started setting up of new manufacturing unit at Sitargunj, Uttarakhand.
2010 - Establishment of new manufacturing unit at Rohtak, Haryana
Established technology centre for design & development of moulds at Pune.
2013 - Consolidated Daman unit with Dadra and Masat with Galonda
Started commercial production in new manufacturing unit at Khandala.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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