TOKYOPLAST - Tokyo Plast Intl
Financial Performance
Revenue Growth by Segment
Total operating income grew 9.5% YoY to INR 72.4 Cr in Fiscal 2025, up from INR 66.1 Cr in Fiscal 2024. Segment-specific growth percentages are not disclosed.
Geographic Revenue Split
Not disclosed in available documents, though the company operates manufacturing facilities in Daman and Kandla, Gujarat.
Profitability Margins
Net profit margin (PAT margin) improved from 1.51% in Fiscal 2024 to 1.83% in Fiscal 2025. Reported PAT grew 30% YoY to INR 1.3 Cr.
EBITDA Margin
Operating margins are monitored for a threshold of 5%; a fall below this level is considered a downward rating factor. Specific EBITDA % for FY25 is not explicitly stated.
Capital Expenditure
Not disclosed in available documents.
Credit Rating & Borrowing
Crisil BB+/Stable for long-term and Crisil A4+ for short-term bank facilities totaling INR 28 Cr. Bank limits were utilized at approximately 85% for the 12 months ending September 2025.
Operational Drivers
Raw Materials
Plastic resins and polymers used for manufacturing plastic thermoware products. Specific cost percentages per material are not disclosed.
Import Sources
Not disclosed in available documents.
Key Suppliers
Not disclosed in available documents.
Capacity Expansion
Not disclosed in available documents.
Raw Material Costs
Not disclosed in available documents.
Manufacturing Efficiency
Not disclosed in available documents.
Logistics & Distribution
Not disclosed in available documents.
Strategic Growth
Expected Growth Rate
9.50%
Growth Strategy
The company is executing a strategy to optimize its asset base by selling idle immovable property in Marol, Mumbai (817.50 sq. meters) to M/s. Afitaplus Ventures LLP. Proceeds will be used to pay off debt, enhance working capital, and reinvest in growth-aligned business areas.
Products & Services
Plastic thermoware products including lunch boxes, ice cooler boxes, and ice jugs.
Brand Portfolio
Pinnacle
New Products/Services
Continuous product development is mentioned as a driver for a diversified portfolio, though specific new launch contribution % is not disclosed.
Market Expansion
Not disclosed in available documents.
Market Share & Ranking
Not disclosed in available documents.
Strategic Alliances
Not disclosed in available documents.
External Factors
Industry Trends
The household plastic products industry is evolving through continuous product development and geographical diversification. TPIL is positioning itself by leveraging its 40-year promoter experience to maintain supplier and customer relationships.
Competitive Landscape
The company faces a moderate scale of operations (INR 60-80 Cr range) compared to larger industry peers.
Competitive Moat
Durable advantage stems from the four-decade-long experience of promoters in the household plastic products industry and the established 'Pinnacle' brand name.
Macro Economic Sensitivity
Not disclosed in available documents.
Consumer Behavior
Not disclosed in available documents.
Geopolitical Risks
Not disclosed in available documents.
Regulatory & Governance
Industry Regulations
Compliance with Section 102 of the Companies Act, 2013 and SEBI Listing Obligations & Disclosure Requirements (LODR) for the disposal of substantial company undertakings (property sale).
Environmental Compliance
Not disclosed in available documents.
Taxation Policy Impact
Not disclosed in available documents.
Legal Contingencies
Not disclosed in available documents.
Risk Analysis
Key Uncertainties
Working capital intensity (221 days GCA) and moderate scale of operations (INR 72.4 Cr revenue) are primary business risks that could impact liquidity if revenue growth stalls.
Geographic Concentration Risk
Manufacturing facilities are concentrated in Daman and Kandla, Gujarat.
Third Party Dependencies
Not disclosed in available documents.
Technology Obsolescence Risk
Not disclosed in available documents.
Credit & Counterparty Risk
Net cash accruals to adjusted debt stood at 0.17 times for Fiscal 2025, indicating moderate debt protection metrics.