Time Technoplast Ltd (TIMETECHNO)
🎯 Key Takeaways
- Time Technoplast is in a strategic consolidation phase, executing an in-principle merger of its 74.86% subsidiary TPL Plastech to streamline operations and reduce costs, while rejecting a proposed acquisition due to external market risks.
- Revenue grew 1% QoQ to ₹1,693 in Q1FY27.
- ⚠️ The merger requires shareholder and regulatory approval, introducing execution risk if terms are not finalized. Integration of TPL Plastech could face
📖 The Story
Time Technoplast is in a strategic consolidation phase, executing an in-principle merger of its 74.86% subsidiary TPL Plastech to streamline operations and reduce costs, while rejecting a proposed acquisition due to external market risks. The company is also investing ₹50 crores in a new polymer trading subsidiary to enhance raw material sourcing synergies, signaling a shift toward vertical integration and margin improvement.
📰 What's Happening
The board has approved the merger of TPL Plastech into Time Technoplast and rejected the Ebullient Packaging acquisition due to geopolitical and market volatility. Additionally, it approved up to ₹50 crores investment in Time Intercontinental Limited, a new polymer trading subsidiary, to be executed in tranches over 12 months. Management cites bulk procurement benefits and operational consolidation as key drivers, with final swap ratio and scheme approval pending valuation and shareholder validation at the AGM.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 1,511 | 1,565 | 1,677 | 1,693 |
| Operating Profit | 177 | 188 | 194 | 173 |
| OPM % | 11.7% | 12.0% | 11.6% | 10.2% |
| Net Profit | 117 | 129 | 134 | 118 |
| EPS | ₹2.54 | ₹2.75 | ₹2.67 | ₹2.35 |
Revenue has grown sequentially over the past four quarters, rising from ₹1,511 crore in September 2025 to ₹1,693 crore in June 2026, with operating margins holding firm above 10%. Profitability trends show stability, with net profit and EPS remaining consistent, indicating no material pressure despite macro challenges. This stability aligns with management’s focus on consolidation and cost discipline rather than aggressive growth.
🔮 Management Outlook & What's Next
Management expects the merger to enhance synergies and reduce costs, while the new subsidiary investment will improve sourcing efficiency and potentially support margin expansion. Final approval of the scheme and investment execution are contingent on board and shareholder validation, with no specific revenue or margin targets disclosed yet. The outlook remains cautious, tied to regulatory and shareholder approval timelines.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 23 | 23 | 45 | 49 |
| Reserves | 2,660 | 2,869 | 2,998 | 4,039 |
| Borrowings | 789 | 647 | 684 | 733 |
| Total Liabilities | 4,232 | 4,399 | 4,516 | 5,639 |
| Fixed Assets | 1,378 | 1,373 | 1,419 | 1,435 |
| Investments | 2 | 3 | 4 | 6 |
| Total Assets | 4,232 | 4,399 | 4,516 | 5,639 |
The balance sheet shows a steady rise in equity and reserves, growing from ₹2,892 crore in March 2025 to ₹4,538 crore in March 2026, driven by retained earnings. Borrowings have increased slightly but remain low at ₹733 crore, indicating conservative leverage. The company is not over-leveraged and appears to be funding growth through internal accruals and modest debt, with no aggressive capital raising signaled.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | +431 |
| Investing | -147 |
| Financing | -249 |
| Net Cash Flow | +35 |
👥 Shareholding Pattern
| Category | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|
| Promoters | 47.5% | 47.6% | 47.6% |
| FII | 11.7% | 10.9% | 8.5% |
| DII | 16.7% | 17.4% | 17.6% |
| Public | 19.3% | 19.2% | 20.6% |
| # Shareholders | 1,49,655 | 1,36,962 | 1,40,298 |
FII holdings have increased from 8.53% in Q1FY27 to 10.88% in Q4FY26, while DII rose from 16.7% to 17.37%, suggesting institutional accumulation. Promoter holding remains stable around 47.5%, with no signs of dilution or selling. The growing investor base, now over 1.4 lakh shareholders, reflects rising confidence despite flat promoter stake.
⚖️ Peer Comparison — Plastic products
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| SUPREMEIND | 45,398 | 44.0 | 22.1% | 16.7% | 0.00 |
| ASTRAL | 40,535 | 70.4 | 20.0% | 14.2% | 0.04 |
| SHAILY | 14,945 | 84.5 | 33.8% | 32.3% | 0.34 |
| FINPIPE | 9,633 | 15.6 | 12.7% | 9.9% | 0.07 |
| TIMETECHNO | 9,411 | 18.5 | 20.9% | 17.2% | 0.22 |
| KINGFA | 8,169 | 36.2 | 39.9% | 31.0% | 0.05 |
| SAFARI | 7,500 | 45.4 | 19.8% | 14.8% | 0.00 |
| VIPIND | 4,312 | — | -43.7% | -130.7% | 1.42 |
| RESPONIND | 4,002 | 39.5 | 7.5% | 6.5% | 0.12 |
| PRINCEPIPE | 3,223 | 31.0 | 8.0% | 6.5% | 0.17 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
The merger requires shareholder and regulatory approval, introducing execution risk if terms are not finalized. Integration of TPL Plastech could face operational or cultural challenges. Exposure to commodity volatility in polymer sourcing remains a concern, especially as the new subsidiary builds scale. Additionally, the lack of disclosed revenue guidance for the new ventures limits visibility into margin impact.
📋 Recent Filings
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🔴 Announcement 31 August 2026Time Technoplast announced it has secured an order worth approximately Rs. 87.53 Crores from a major public sector undertaking for Type IV composite C...
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🟡 Board Meeting 31 August 2026Time Technoplast Ltd announced its 36th AGM on September 22, 2026, recommending a final dividend of ₹1.50 per share (150% rate) and detailing virtual ...
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🟡 sustainability report 31 August 2026Time Technoplast Limited submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 to stock exchanges on August 31, 2026, ...
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🔴 annual report 31 August 2026Time Technoplast Limited reported record consolidated revenue of **₹61,052 crores** and profit of **₹4,766 crores** for FY 2025-26, driven by growth i...
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🟡 Board Meeting 26 August 2026Time Technoplast Limited announced the in-principle approval of merging its 74.86% subsidiary TPL Plastech Limited into itself, subject to regulatory ...
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🟡 Board Meeting 26 August 2026Time Technoplast Limited announced the in-principle approval of merging its 74.86% subsidiary TPL Plastech Limited into itself, aiming to consolidate ...
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🟡 Board Meeting 26 August 2026Time Technoplast Limited announced the in-principle approval of merging its 74.86% subsidiary TPL Plastech Limited into itself, subject to regulatory ...
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Announcement 18 August 2026Time Technoplast Limited announced a scheduled plant visit for analysts and institutional investors from August 21-22, 2026, in Daman and Silvassa, fo...
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Announcement 13 August 2026Time Technoplast announced it has secured a ₹2.48 crore order to supply a complete Type IV composite hydrogen cylinder storage and fuel delivery syste...
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Announcement 13 August 2026Time Technoplast Limited announced its participation in the Motilal Oswal Annual Global Investor Conference on August 18, 2026, in Mumbai, featuring o...
🧠 Analyst's Read
Time Technoplast is repositioning through consolidation and strategic investment in backward integration, with improving operational stability and growing institutional interest. Investors should monitor the AGM outcome, valuation of the merger, and progress of the new subsidiary’s operations as key near-term catalysts.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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