Time techno maintained its track record of posting decent results and whatever management talks about in concall seems to be playing out in results.
For q1 fy 24, sales improved to 1080 crores from 945 crores in q1 fy 23. 14% growth.
EBIDTA improved to 148 cr from 124 cr. 19 % growth.
EBIDTA margin improved to 13.7% from 13.1%
PAT improved to 56 crores from 44 crores . 26% growth.
Debt reduced 31 cr q on q.
Divestment of overseas subsidiaries. Management talks about being in advanced talks for sale of overseas subsidiaries in two geographies.
Managament talked about 15% revenue growth and consistent improvement in margins going ahead. As per q1 fy 24 results, company seems to be headed in the right direction.
Sale of subsidiaries would be a big trigger as it will help in reducing debt significantly. Another would be some progress on sales of Hydrogen cylinders. As of now composite cylinders comprise of CNG, LPG, and Oxygen cylinders.
Company has a market cap of 3000 crores and a debt of around 900 crores . EV comes to around 3900 crores. TTM sales at 4400 crores. A lot of management talk focusses on debt reduction and improvement of return ratios.
Attached GMMA weekly chart shows a clearer picture with important resistances crossed and important resistances expected ahead in dotted blue lines. disc: invested. not a recommendation.
Technically, the stock price crossed an important 4 year high of 126 and has been consolidating above that level in a range of 130-142 for 4-5 weeks now. Previous all time high was at 232 in Jan 2018.
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