Time Technoplast Ltd
Time Technoplast Ltd
IndustrialsKey Fundamentals
MicrocapPlastic Products - IndustrialIndustrial ProductsInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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50 extracted metrics + investor summaries across FY12–FY26.
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Technical Indicators
Key Insights
Strengths
1- Company has delivered good profit growth of 35.3% CAGR over last 5 years
Weaknesses
2- Company has a low return on equity of 13.4% over last 3 years.
- Promoter holding has decreased over last 3 years: -4.12%
Growth Rate
AI Analysis — Bull vs Bear
Time Technoplast Ltd is a ₹10,345 Cr market-cap industrial products company that has delivered 35% profit CAGR over five years and 12% TTM sales growth, while trading at a PE of 21.6x. However, return on equity remains modest at ~13% over three years, promoter holding has declined by 4.13%, and the stock has corrected 11% over the past year despite strong long-term compounding.
- Strong 5-year profit CAGR of 35%, significantly outpacing the 15% revenue CAGR over the same period, indicating margin expansion
- Consolidated revenue grew 9.3% YoY to ₹54,570 Mn in FY25 from ₹49,925 Mn in FY24, showing consistent top-line momentum
- Value-added products segment (IBCs, composite cylinders, MOX films) grew 18% in FY26 vs 10% growth in established products, signalling a favourable mix shift
- Composite cylinder capacity being doubled from 30,000 to 66,000 units per year, with an order book of ₹924 Mn as of late 2025, tapping the global LPG/CNG transition
- 3-year stock CAGR of 44% and 10-year CAGR of 21% reflect sustained long-term wealth creation
- TTM profit growth of 21% continues to outpace TTM sales growth of 12%, indicating operating leverage is intact
- Debt-to-equity ratio of approximately 0.18x as per recent filings indicates a relatively conservative balance sheet
- Operations across 11 countries with roughly 50-50 India/international revenue split provides geographic diversification
- Return on equity of only 13% over the last 3 years is below the 15%+ threshold typically expected for quality compounders
- Promoter holding has decreased by 4.13% over the last 3 years, which may signal reduced promoter confidence or dilution
- Stock has declined 11% over the past 1 year despite continued earnings growth, suggesting possible de-rating or market concerns
- PE of 21.6x for a company generating only 13% ROE implies the valuation already prices in significant future improvement
- 10-year profit CAGR of only 13% versus the recent 5-year CAGR of 35% shows that historical long-term growth was much slower, raising sustainability questions
- Net profit margin stood at approximately 7.8% in Q4 FY25, which is modest for a manufacturing business at this scale
- Dividend yield of 1.2% is low, indicating limited near-term cash return to shareholders
- 10-year sales CAGR of 10% suggests underlying volume growth is moderate and recent acceleration may partly reflect price pass-throughs
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- ₹38Cr HPCL composite cylinder order Jul 17
Secured ₹38.14 crore order from HPCL via GeM for 1,40,000 Type IV Composite LPG Cylinders, to be executed within six months. Order supports HPCL's new quick-commerce distribution model.
- Q1FY27 earnings call Aug 6 Jul 30
Management will host Q1FY27 earnings conference call on August 6, 2026 at 16:00 IST to discuss quarterly performance.
- Commercial paper repaid on time Jul 23
Time Technoplast certified timely repayment of its commercial paper maturity amount on July 23, 2026, indicating no debt servicing stress.
TL;DR: Time Technoplast shows steady operational momentum with a ₹38.14 crore HPCL order reinforcing its composite LPG cylinder business tied to government distribution initiatives. No visible headwinds in recent news, and timely debt repayment signals healthy liquidity. The upcoming Q1FY27 earnings call on Aug 6 will be the next catalyst for re-rating or risk reassessment.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,079 | 1,194 | 1,325 | 1,394 | 1,230 | 1,371 | 1,388 | 1,469 | 1,353 | 1,511 | 1,565 | 1,677 | 1,693 |
| Expenses | 932 | 1,027 | 1,134 | 1,208 | 1,056 | 1,174 | 1,187 | 1,255 | 1,158 | 1,288 | 1,331 | 1,436 | 1,468 |
| Operating Profit | 147 | 167 | 191 | 186 | 174 | 196 | 201 | 214 | 195 | 223 | 234 | 241 | 224 |
| OPM % | 14% | 14% | 14% | 13% | 14% | 14% | 14% | 15% | 14% | 15% | 15% | 14% | 13% |
| Other Income | 1 | 0 | 2 | 11 | 1 | 1 | 2 | 2 | 1 | 1 | 2 | 5 | 1 |
| Interest | 26 | 25 | 25 | 25 | 24 | 23 | 22 | 22 | 22 | 22 | 19 | 18 | 17 |
| Depreciation | 45 | 46 | 42 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 46 | 47 | 51 |
| PBT | 76 | 96 | 126 | 133 | 110 | 133 | 137 | 150 | 129 | 157 | 171 | 181 | 158 |
| Tax % | 25% | 25% | 26% | 29% | 27% | 25% | 25% | 25% | 25% | 25% | 25% | 26% | 25% |
| Net Profit | 57 | 71 | 93 | 94 | 80 | 100 | 102 | 112 | 97 | 117 | 129 | 134 | 118 |
| EPS in Rs | 1.24 | 1.56 | 2.02 | 2.03 | 1.75 | 2.17 | 2.22 | 2.41 | 2.1 | 2.54 | 2.56 | 2.67 | 2.35 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,447 | 2,396 | 2,755 | 3,103 | 3,564 | 3,578 | 3,005 | 3,650 | 4,289 | 4,992 | 5,457 | 6,105 | 6,445 |
| Expenses | 2,108 | 2,048 | 2,350 | 2,630 | 3,040 | 3,079 | 2,618 | 3,144 | 3,712 | 4,302 | 4,672 | 5,213 | 5,524 |
| Operating Profit | 339 | 348 | 404 | 473 | 524 | 499 | 387 | 506 | 577 | 691 | 785 | 892 | 922 |
| OPM % | 14% | 15% | 15% | 15% | 15% | 14% | 13% | 14% | 13% | 14% | 14% | 15% | 14% |
| Other Income | 4 | 22 | 2 | 2 | 3 | 2 | 4 | 3 | 4 | 14 | 5 | 9 | 9 |
| Interest | 104 | 96 | 90 | 88 | 99 | 108 | 98 | 92 | 105 | 101 | 92 | 80 | 75 |
| Depreciation | 87 | 99 | 116 | 137 | 146 | 156 | 151 | 157 | 171 | 173 | 170 | 183 | 190 |
| PBT | 150 | 174 | 201 | 250 | 282 | 237 | 142 | 259 | 305 | 431 | 529 | 638 | 666 |
| Tax % | 25% | 19% | 25% | 26% | 26% | 26% | 26% | 26% | 27% | 27% | 25% | 25% | — |
| Net Profit | 113 | 142 | 151 | 185 | 209 | 175 | 106 | 192 | 224 | 316 | 394 | 477 | 498 |
| EPS in Rs | 2.61 | 3.29 | 3.25 | 3.99 | 4.48 | 3.74 | 2.29 | 4.16 | 4.84 | 6.84 | 8.55 | 9.5 | 10.12 |
| Div. Payout % | 10% | 8% | 10% | 10% | 10% | 13% | 15% | 12% | 13% | 15% | 15% | 16% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 21 | 21 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 49 |
| Reserves | 1,016 | 1,147 | 1,304 | 1,461 | 1,647 | 1,792 | 1,880 | 2,050 | 2,247 | 2,530 | 2,869 | 4,039 |
| Borrowings | 804 | 746 | 722 | 777 | 840 | 890 | 863 | 906 | 900 | 829 | 732 | 733 |
| Other Liabilities | 493 | 505 | 523 | 632 | 691 | 659 | 538 | 626 | 660 | 732 | 775 | 817 |
| Total Liabilities | 2,334 | 2,420 | 2,571 | 2,892 | 3,200 | 3,364 | 3,304 | 3,604 | 3,829 | 4,114 | 4,399 | 5,639 |
| Fixed Assets | 1,154 | 1,147 | 1,100 | 1,200 | 1,279 | 1,349 | 1,281 | 1,314 | 1,383 | 1,368 | 1,373 | 1,435 |
| CWIP | 43 | 71 | 87 | 94 | 98 | 81 | 40 | 70 | 68 | 41 | 79 | 230 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 3 | 6 |
| Other Assets | 1,138 | 1,202 | 1,384 | 1,598 | 1,822 | 1,934 | 1,983 | 2,220 | 2,379 | 2,703 | 2,943 | 3,968 |
| Total Assets | 2,334 | 2,420 | 2,571 | 2,892 | 3,200 | 3,364 | 3,304 | 3,604 | 3,829 | 4,114 | 4,399 | 5,639 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 269 | 289 | 188 | 303 | 281 | 301 | 257 | 291 | 370 | 406 | 431 | 233 |
| Investing | -98 | -120 | -212 | -244 | -231 | -138 | -105 | -179 | -216 | -187 | -147 | -446 |
| Financing | -172 | -167 | 19 | -51 | -58 | -148 | -151 | -104 | -154 | -197 | -249 | 624 |
| Net Cash Flow | 0 | 1 | -5 | 8 | -7 | 16 | 1 | 8 | 1 | 22 | 35 | 411 |
| Free Cash Flow | 172 | 173 | -24 | 59 | 51 | 164 | 155 | 104 | 147 | 251 | 275 | -137 |
| CFO/OP | 87 | 92 | 56 | 75 | 65 | 73 | 75 | 68 | 76 | 72 | 70 | 41 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 69 | 75 | 77 | 79 | 80 | 84 | 97 | 87 | 80 | 79 | 78 | 87 |
| Inventory Days | 102 | 104 | 104 | 109 | 107 | 110 | 132 | 129 | 117 | 107 | 108 | 111 |
| Days Payable | 67 | 70 | 66 | 74 | 69 | 65 | 56 | 55 | 48 | 45 | 42 | 37 |
| Cash Conversion Cycle | 104 | 110 | 115 | 113 | 118 | 130 | 173 | 161 | 150 | 141 | 143 | 161 |
| Working Capital Days | 19 | 26 | 53 | 61 | 65 | 81 | 111 | 98 | 96 | 93 | 106 | 127 |
| ROCE % | 13% | 14% | 14% | 15% | 16% | 13% | 9% | 12% | 13% | 16% | 17% | 17% |
Documents
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Company Information
Time Technoplast is a multinational conglomerate involved in the manufacturing of technology and innovation driven polymer & composite products.(Source : 202003-01 Annual Report Page No:74)