The plastic products sector is a cornerstone of the global economy, valued at approximately USD 678.6 billion in 2025 and projected to reach nearly USD 981 billion by 2034, growing at a 4.2% CAGR. Polyethylene and polypropylene dominate the market, with Asia Pacific leading demand and production. Packaging remains the largest end-use segment, driving nearly 40% of plastic consumption.
With a market capitalization of Rs 9,951.97 crore, the shares of Time Technoplast Ltd were trading at Rs 438.55 per share, increasing around 6.86 percent as compared to the previous closing price of Rs 410.40 apiece.
Motilal Oswal, one of the well-known brokerages in India, gave a ‘Buy’ rating on the plastic stock with a target price of Rs 578 apiece, indicating a potential upside of 32 percent from Monday’s price of Rs 438.55 per share.
Motilal Oswal highlights Time Technoplast as a global leader in large plastic drums, holding a 50–60% market share in India. The company also ranks among the top three globally in intermediate bulk containers (IBCs) and Type IV composite LPG/CNG cylinders, with a strong international footprint.
Motilal Oswal projects a 20 percent revenue CAGR and 18 percent EBITDA margin for FY25–28, driven by the company’s value-added products like composite LPG/CNG cylinders. This is expected to result in a strong 23 percent profit after tax CAGR, highlighting the company’s growth potential and improved profitability over the next three years.
Motilal Oswal expects the company’s pre-tax ROCE and RoIC to rise to 23% and 26% by FY28, despite annual capex of Rs 170 crore. This improvement will be driven by effective cost control, asset monetisation, and enhanced working capital management, supporting stronger financial efficiency and returns over the medium term.
Also read: Textile stock skyrockets 17% after receiving export orders worth $403,300 from the U.S.
Looking forward to the company’s financial performance, revenue increased by 5 percent from Rs 1,394 crore in Q4FY24 to Rs 1,469 crore in Q4FY25. Further, during the same time frame, net profit increased by 19 percent from Rs 94 crore to Rs 112 crore.
In FY25, Polymer Products contributed 64% of revenue, growing 7% YoY to ₹34,932 Mn with EBITDA margin improving to 14%. Composite Products accounted for 36%, rising 13% YoY to ₹19,639 Mn with a margin of 15.3%. Both segments showed healthy growth in revenue and profitability, reflecting strong operational performance.
The company boasts a robust global client base, partnering with marquee names across industries such as BASF, Bayer, Shell, Tata Motors, P&G, ExxonMobil, and L’Oréal. This diverse clientele across chemicals, automotive, FMCG, and pharma sectors underscores strong brand trust, diversified revenue streams, and broad-based sectoral exposure.
Time Technoplast Limited is an India-based company that operates a multinational conglomerate and manufactures technology-based polymer and composite products. The Company manufactures large-size plastic drums, composite cylinders, and intermediate bulk containers.
Written by Abhishek Singh
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