TIME TECHNOPLAST FUNDAMENTAL RESEARCH REPORT

Time Technoplast (NSE: TIMETECHNO, BSE: 532856), Mumbai, is a multinational maker of polymer and composite products across 10 countries (India 65% / overseas 35% of revenue). Its businesses: industrial packaging (the world’s largest maker of large plastic drums; ~55% share of Indian industrial packaging; #3 in IBCs globally), composite cylinders (India’s first Type-IV maker for LPG, CNG and hydrogen; world #2), PE pipes, MOX films and auto products. It is CRISIL AA-/Stable. Event 1 - growth guidance is explicit. Q1 FY27 net sales Rs 1,694 Cr (+25%), EBITDA Rs 225 Cr (+15%), PAT Rs 116 Cr (+22%); volume +11% (India +10%, overseas +14%); composites +29%. Management reiterated volume growth above 15% for FY27 and said that at 15% volume it expects EBITDA growth of 19-20% and PAT growth of 23-24% (automation, solar power, lower finance costs). Composite order book is ~Rs 185 Cr, confirmed packaging orders ~Rs 400 Cr for CY26, and HPCL ordered 1.4 lakh composite LPG cylinders (Swiggy Instamart pilot)