Time Technoplast Limited (TIMETECHNO)
₹179.50 +0.97% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Time Technoplast's revenue was ₹1,693 Cr (+25.1% year on year, +0.9% on the previous quarter), and net profit ₹118 Cr (+22.1% year on year); the operating margin was 13.3%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹1,693 | +25.1% | +0.9% |
| Operating profit | ₹224 | +15.1% | -6.9% |
| Net profit | ₹118 | +22.1% | -12.0% |
| EPS (₹) | 2.35 | +12.2% | -12.0% |
| Operating margin | 13.3% | — | — |
EPS restated for the 1:1 bonus of Sep 2025: Q1 FY26 ₹4.19 to ₹2.10.
TIMETECHNO delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 13.24% of the TIMETECHNO shares traded on NSE were taken to delivery, against the stock's own 20-session average of 30.54%. That is lower than usual for this stock.
Delivery in the last 5 sessions: 37.2% · 33.8% · 15.0% · 18.6% · 13.2%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Time Technoplast Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by MUFG Intime India Pvt. Ltd. (formerly Link Intime India Pvt. Ltd.), the company's Registrar and Share Transfer Agent. The document confirms that securities received for dematerialisation during the period were properly processed, accepted/rejected, and listed on the exchanges. This is a recurring administrative compliance filing with no impact on business operations or financials.
- Compliance certificate filed under Regulation 74(5) of SEBI Depositories and Participants Regulations
- Relates to the quarter ended September 30, 2026
- Certificate received from RTA MUFG Intime India Private Limited on October 03, 2026
- Submitted to the stock exchanges on October 12, 2026
Time Technoplast Limited (TTL) has approved a scheme of amalgamation to absorb its 74.86% subsidiary, TPL Plastech Limited, with an appointed date of April 1, 2026. Under the approved share exchange ratio, TPL Plastech shareholders will receive 403 TTL equity shares (FV Re 1) for every 1,000 shares held (FV Rs 2). TTL will issue 79,01,516 new equity shares, expanding its equity base to 50,15,36,895 shares and causing a minor promoter stake dilution from 47.47% to 46.73%. For FY26, TPL Plastech reported turnover of Rs 422.66 Cr and net profit of Rs 29.07 Cr, which will be fully integrated into TTL.
- Share exchange ratio set at 403 TTL shares (FV Re 1) for every 1,000 TPL shares (FV Rs 2)
- TTL will issue 79,01,516 new equity shares to TPL public shareholders, expanding total share count to 50,15,36,895
- TPL Plastech FY26 turnover stands at Rs 422.66 Cr with a net profit of Rs 29.07 Cr
- TTL promoter shareholding will slightly reduce from 47.47% to 46.73% post-amalgamation
- Appointed date fixed as April 1, 2026, subject to NCLT, stock exchange, and shareholder approvals
Time Technoplast's Board has approved a scheme of amalgamation to merge its 74.86% subsidiary, TPL Plastech Limited, with itself. As per the approved swap ratio, TPL Plastech shareholders will receive 403 equity shares of Time Technoplast for every 1,000 shares held. Time Technoplast will issue 79,01,516 new shares to TPL's minority shareholders, expanding its paid-up share count by ~1.60% to 50,15,36,895 shares and marginally reducing promoter holding from 47.47% to 46.73%. For FY26, TPL Plastech reported turnover of Rs 422.66 Cr and net profit of Rs 29.07 Cr.
- Share exchange ratio set at 403 Time Technoplast shares (FV Re 1) for every 1,000 TPL Plastech shares (FV Rs 2)
- Time Technoplast to issue 79,01,516 new shares to absorb the 25.14% public holding of TPL Plastech
- TPL Plastech reported audited FY26 turnover of Rs 42,266.31 lakhs (Rs 422.66 Cr) and net profit of Rs 2,907.07 lakhs (Rs 29.07 Cr)
- Post-merger promoter holding in Time Technoplast will dilute slightly from 47.47% to 46.73%
- Appointed date for the merger scheme is April 1, 2026, subject to NCLT and shareholder approvals
Time Technoplast Limited has released the voting results and scrutinizer's report for its 36th Annual General Meeting held on September 22, 2026. All 8 resolutions were approved by shareholders with over 99.6% majority. Key approvals include the declaration of a dividend of Rs. 1.50 per share (150%) on face value Rs. 1 for FY26, and the appointment of two Independent Directors, Mr. Devendra Jitendra Shah and Mrs. Hema Rajendra Gaitonde, for 5-year terms through August 2031.
- Dividend of Rs. 1.50 per equity share (150% of face value Rs. 1) approved with 99.9985% votes in favour
- Adoption of FY26 Standalone and Consolidated Financial Statements approved with over 99.68% votes
- Independent Directors Devendra Jitendra Shah and Hema Rajendra Gaitonde appointed for 5-year terms ending August 4, 2031
- Total 1,39,999 shareholders were registered on the cut-off date of September 15, 2026
- All resolutions passed comfortably with over 35.58 crore valid votes cast per resolution
Time Technoplast held its 36th Annual General Meeting on September 22, 2026, where members took up ordinary business including the declaration of a final dividend of Rs 1.50 per share (150%). Management recapped FY26 consolidated revenue of Rs 6,114 Cr (up 12% YoY) and PAT of Rs 469 Cr (up 21%), alongside Q1 FY27 consolidated revenue of Rs 1,694 Cr (up 25% YoY). The Chairman highlighted structural updates including the in-principle approval to merge subsidiary TPL Plastech, the 76% stake acquisition in Systoverse, and green energy initiatives targeting 75% transition over 2 years.
- Final dividend of Rs 1.50 per equity share (150% on face value of Rs 1) placed for shareholder declaration
- Reported FY26 consolidated revenue rose 12% to Rs 6,114 Cr and PAT grew 21% to Rs 469 Cr
- Reported Q1 FY27 consolidated revenue grew 25% to Rs 1,694 Cr with PAT of Rs 117 Cr
- Value-added segments (Composite, IBC, MOX Films) contributed 29% to consolidated revenue in FY26
- Updates covered board-approved merger of TPL Plastech and the acquisition of a 76% stake in Systoverse Pvt Ltd
At its 36th AGM, Time Technoplast highlighted strong FY26 performance with consolidated revenue rising 12% YoY to ₹6,114 crore and PAT growing 21% to ₹469 crore. The company outlined ₹370 crore invested in FY26 capex to support volume growth exceeding 15% annually, backed by a ₹800 crore QIP completed during the year. Management noted that value-added products (Composite Cylinders, IBCs, and MOX Films) rose to 29% of revenue. Additionally, in-principle approval was noted for the merger of subsidiary TPL Plastech Limited into Time Technoplast to consolidate manufacturing.
- FY26 consolidated revenue rose 12% to ₹6,114 crore, while PAT grew 21% to ₹469 crore
- Capex of ₹370 crore deployed in FY26, alongside ₹800 crore raised via QIP at ₹201.12 per share
- Value-added products grew ~18%, increasing their revenue share from 27% to 29%
- Q1 FY27 revenue rose 25% YoY to ₹1,694 crore with PAT up 22% to ₹117 crore
- In-principle approval granted for the merger of subsidiary TPL Plastech Limited into the company
Time Technoplast has completed its greenfield manufacturing plant at Bhilad, Gujarat, with commercial production scheduled to commence on September 25, 2026. The plant has an annual capacity of 6,000 tonnes dedicated to conical polymer pails and injection-moulded packaging products, built with an investment of approximately ₹24 crores. At an estimated 90% capacity utilization, the robotic automated facility is expected to generate an annual turnover of ~₹100 crores (representing ~1.55% of TTM revenue of ₹6,446 crores). The automated setup is aimed at minimizing administration costs and maximizing operating efficiencies.
- Completed greenfield plant at Bhilad, Gujarat, with commercial production starting September 25, 2026
- Total capex invested is approximately ₹24 crores
- Annual manufacturing capacity of 6,000 tonnes dedicated to conical polymer pails and injection moulded products
- Expected annual turnover of approximately ₹100 crores at 90% capacity utilization
Time Technoplast Limited has informed the exchanges regarding its participation in the Anand Rathi Annual Flagship Conference – G-200 Summit 2026. The meeting is scheduled for September 21, 2026, from 10:00 a.m. to 05:00 p.m. in Mumbai. The interactions will involve one-on-one and group meetings in person, with management noting that only publicly available information will be discussed.
- Event: Anand Rathi Annual Flagship Conference – G-200 Summit 2026
- Meeting date: September 21, 2026
- Meeting time window: 10:00 a.m. - 05:00 p.m.
- Format: In-person One-on-One & Group Meetings in Mumbai
Time Technoplast has fixed September 15, 2026 as the record date to determine shareholder eligibility for a final dividend of ₹1.50 per equity share (face value ₹1.00) for FY 2025-26. The dividend is subject to approval at the 36th Annual General Meeting scheduled for September 22, 2026. At the current market price of ₹189.20, the payout represents a dividend yield of approximately 0.79%. Physical shareholders are advised to complete mandatory KYC updates to ensure electronic dividend credit.
- Final dividend of ₹1.50 per equity share of face value ₹1.00 recommended for FY 2025-26.
- Record date set for Tuesday, September 15, 2026 for eligibility determination.
- 36th Annual General Meeting (AGM) scheduled for Tuesday, September 22, 2026 at 04:00 PM IST.
- Dividends for physical folios lacking KYC updation will be withheld per SEBI guidelines.
Time Technoplast Limited has issued the notice for its 36th Annual General Meeting scheduled for September 22, 2026, via video conferencing. The company confirmed a recommended final dividend of ₹1.50 per equity share (150% on ₹1 face value) for FY 2025-26. The record date for determining dividend eligibility and the cut-off date for e-voting is set as September 15, 2026. Remote e-voting will run from September 17, 2026, to September 21, 2026.
- 36th Annual General Meeting scheduled for Tuesday, September 22, 2026 at 4:00 PM IST via VC/OAVM
- Final dividend of ₹1.50 per share (150% on face value of ₹1) recommended for FY 2025-26
- Record date and e-voting cut-off date fixed as Tuesday, September 15, 2026
- Remote e-voting window open from September 17, 2026 (9:00 AM) to September 21, 2026 (5:00 PM)
Time Technoplast Limited has secured an order worth approximately ₹87.53 crore for the supply of Type IV Composite CNG Mobile Storage Cascades from a well-established PSU (a joint venture of two Maharatna PSUs). The order is intended for deployment across the customer's CNG and City Gas Distribution (CGD) network. The contract is scheduled to be executed within one year. Relative to Time Technoplast's TTM revenue of ₹6,446 crore, the order represents approximately 1.36% and bolsters its fast-growing value-added composite cylinder division.
- Secured order valued at approximately ₹87.53 crore from a JV of two Maharatna PSUs.
- Scope covers Type IV Composite CNG Cylinders – Mobile Storage Cascades for CGD networks.
- Order execution timeline is set for within 1 year.
- Reinforces PESO-approved Type IV composite cylinder adoption among domestic CGD players.
Time Technoplast's Board has granted in-principle approval for the merger of its 74.86% listed subsidiary, TPL Plastech Limited, into the parent company with an appointed date of April 1, 2026. In addition, the Board approved an investment of up to ₹50 crore over 12 months to acquire up to a 65% equity stake in Time Intercontinental Limited (TICL) to drive bulk polymer procurement discounts. Separately, the company decided not to proceed with the proposed 74% acquisition of Ebullient Packaging Private Limited following due diligence and global geopolitical concerns.
- In-principle approval for merger of 74.86% listed subsidiary TPL Plastech into Time Technoplast with appointed date April 1, 2026
- Approved up to ₹50 crore equity investment for up to 65% stake in newly incorporated Time Intercontinental Limited
- Promoters/Promoter group to subscribe to the remaining 35% equity stake in TICL at face value
- Terminated the MoU for acquiring a 74% stake in Ebullient Packaging Private Limited with no financial loss incurred
Time Technoplast's Board has granted in-principle approval for the merger of its 74.86% listed subsidiary, TPL Plastech Limited, with an Appointed Date of April 1, 2026, to simplify group structure and optimize operations. Concurrently, the Board decided not to proceed with the planned 74% acquisition of Ebullient Packaging Private Limited (EPPL) following due diligence and global geopolitical changes. Additionally, the Board approved an equity investment of up to ₹50 crore to acquire up to a 65% stake in newly incorporated polymer trading entity Time Intercontinental Limited (TICL) to drive bulk polymer procurement discounts.
- In-principle approval for the merger of 74.86% listed subsidiary TPL Plastech with Time Technoplast with Appointed Date of April 01, 2026
- Dropped the proposed acquisition of a 74% stake in Ebullient Packaging Private Limited (EPPL) with no financial loss to the company
- Approved cash investment of up to ₹50 crore in tranches to acquire up to 65% equity in Time Intercontinental Limited (TICL)
- TICL investment represents ~1.76% of Net Worth (₹2,841 Cr) aimed at securing bulk polymer purchase discounts
Time Technoplast Limited has granted in-principle approval to merge its listed subsidiary, TPL Plastech Limited (74.86% holding), into itself with an appointed date of April 1, 2026 to optimize manufacturing operations and simplify group structure. The board also approved an equity investment of up to ₹50 crore in tranches over 12 months to acquire up to a 65% stake in Time Intercontinental Limited (TICL), a promoter-backed entity aimed at capturing bulk procurement discounts on polymers. Additionally, the company formally discontinued its earlier planned acquisition of a 74% stake in Ebullient Packaging Private Limited due to geopolitical shifts, confirming no financial loss.
- Approved in-principle merger of 74.86% owned subsidiary TPL Plastech with appointed date of April 1, 2026
- Approved up to ₹50 crore cash investment to acquire up to a 65% equity stake in Time Intercontinental Limited
- Cancelled the proposed 74% acquisition of Ebullient Packaging Private Limited after MoU expiry with zero financial loss
- Independent valuer and merchant banker being appointed to establish the swap ratio for TPL Plastech
Time Technoplast Limited has scheduled a physical plant visit and management interaction for analysts and institutional investors on August 21-22, 2026. The visits are set to take place at the company's manufacturing facilities in Daman and Silvassa. The company confirmed that discussions will rely strictly on publicly available information with no unpublished price-sensitive information shared.
- Plant visit and management interaction scheduled for August 21, 2026 to August 22, 2026
- Locations designated for the visit are Daman & Silvassa facilities
- Meeting format is physical interaction with analysts and institutional investors
- Company confirmed compliance with Regulation 30 ensuring no UPSI is shared
Financial Performance
Revenue Growth by Segment
Value-added products (IBC, composite cylinders, MOX films) grew 15% in FY2025, while established products (drums, jerry cans, PE pipes) grew 7%. Total sales in Q2 FY2026 grew 10% YoY to INR 1,512 Cr.
Geographic Revenue Split
India accounts for 66% of revenue (grew 9% in Q2 FY2026), while Overseas operations across 10 countries contribute 34% or INR 1,857 Cr (grew 13% in Q2 FY2026).
Profitability Margins
Operating margins improved to 14.4% in FY2025 from 13.9% in FY2024. Net profit for Q2 FY2026 stood at INR 115 Cr, representing a 17% YoY increase.
EBITDA Margin
EBITDA margin was 14.8% in Q2 FY2026 (INR 224 Cr), up from 14.3% in the previous year, driven by a higher share of value-added products and raw material cost pass-throughs.
Capital Expenditure
Planned annual capex of INR 180-220 Cr. Recent QIP proceeds allocated INR 89.37 Cr for automation and re-engineering and INR 110.63 Cr for a subsidiary's machinery.
Credit Rating & Borrowing
Rated CRISIL AA-/Stable and A1+. While the financial profile is strong, ICRA notes high borrowing rates; QIP proceeds of INR 400 Cr are being used to repay debt to reduce interest costs.
Operational Drivers
Raw Materials
Polymers (specifically Polyethylene/PE) represent the primary raw material cost, with the company consuming 180,000 tons annually.
Import Sources
Sourced globally with manufacturing and procurement hubs in India, the Middle East (UAE, Bahrain, Saudi Arabia), and the USA.
Key Suppliers
Not specifically named, but the company leverages its 180,000-ton annual volume to negotiate bulk discounts, targeting an additional 3-4% discount through new acquisitions.
Capacity Expansion
LPG cylinder capacity is 1.4 million units (sellable 1.2 million) with 90% utilization. Automation capex of INR 89.37 Cr is underway to improve manufacturing efficiency.
Raw Material Costs
Raw material costs are highly sensitive to polymer prices; however, the company maintains a 14.4% margin by passing on price fluctuations to end-users.
Manufacturing Efficiency
Current LPG cylinder capacity utilization is at 90%. Automation and re-engineering are being funded to further enhance throughput.
Logistics & Distribution
The company operates in 11 countries to manufacture close to customers, reducing distribution costs for bulky polymer products.
Strategic Growth
Expected Growth Rate
15%
Growth Strategy
Achieving growth by increasing the share of value-added products (currently 27% of revenue), entering the CNG composite cylinder market, and acquiring an FIBC company with INR 250 Cr revenue to leverage 3-4% polymer procurement discounts.
Products & Services
Industrial packaging (drums, jerry cans), Intermediate Bulk Containers (IBC), Composite Cylinders (LPG and CNG), MOX Films, PE Pipes, and Lead Acid Batteries.
Brand Portfolio
Techpaulin (MOX Films).
New Products/Services
CNG composite cylinders and expanded MOX film applications (pond liners, truck covers) are expected to drive the 15% growth in value-added segments.
Market Expansion
Expanding MOX film exports to Thailand, Malaysia, Germany, the UK, and the USA.
Market Share & Ranking
Dominant market position in industrial packaging in India and the MENA region; global leader in composite cylinders.
Strategic Alliances
Operates with eight subsidiaries and one joint venture to manage global operations and specialized segments like NED Energy for batteries.
External Factors
Industry Trends
The industry is shifting from metal to lightweight, explosion-proof composite cylinders and sustainable IBC packaging; the company is positioned as a leader in this transition with 15% growth in these segments.
Competitive Landscape
Faces intense competition in core packaging and batteries (NED Energy) from large established players, constraining pricing power in those specific sub-segments.
Competitive Moat
Moat is built on cost leadership from massive polymer procurement (180,000 tons) and technical expertise in multi-axis oriented cross-laminated films (MOX), which are difficult to replicate.
Macro Economic Sensitivity
Highly sensitive to industrial production growth in India and the MENA region, as packaging demand correlates with chemical and FMCG output.
Consumer Behavior
Increasing preference for lightweight and durable composite materials over traditional steel in the energy and transport sectors.
Geopolitical Risks
Operations in 11 countries including the Middle East and Egypt expose the company to regional political instability and trade barriers.
Regulatory & Governance
Industry Regulations
Operations must comply with international standards for hazardous goods packaging (UN certification) and pressure vessel safety norms for composite cylinders.
Environmental Compliance
Maintains a robust EHS policy with regular external audits to exceed industry benchmarks in safety and sustainability.
Risk Analysis
Key Uncertainties
Volatility in polymer prices (crude-linked) could impact margins by 1-2% if pass-through is delayed.
Geographic Concentration Risk
66% of revenue is concentrated in India, making the company sensitive to Indian industrial GDP cycles.
Third Party Dependencies
High dependency on global polymer suppliers, though mitigated by high-volume procurement of 180,000 tons.
Technology Obsolescence Risk
Risk of shift toward alternative packaging materials, mitigated by R&D in composite technology and MOX films.
Credit & Counterparty Risk
Strong receivables quality with low customer concentration (top 10 at 20% revenue).