Share price of this small-cap multibagger stock jumped by nearly 11.38% on BSE to Rs. 215.7 in the trading session of March 20th, from its previous close of Rs. 193.65, after the company announced receiving approval from the Petroleum and Explosives Safety Organization (PESO).
With a market capitalisation of Rs. 4,808.6 crores, at 01:02 p.m., the shares of Time Technoplast Limited were trading in the green at Rs. 212.95, up by nearly 9.85%.
The company has delivered about 191.3 percent of multibagger returns in the last one year and nearly 36.3 percent of positive returns in the last six months. So far in 2024, it has given positive returns of around 15.01 percent.
According to recent regulatory filings with the stock exchanges, Time Technoplast Limited received approval from the Petroleum and Explosives Safety Organization (PESO).
The company received approval for the manufacturing of a High-Pressure TYPE-IV Composite Cylinder, Prototype, for Hydrogen.
The Authority has advised the company to manufacture 1stlot of cylinders for joint testing and inspection, which will be completed within six months of the given time frame.
With this approval, Time Technoplast becomes the first company in India to have received this manufacturing approval, representing a big step forward in our efforts to provide Sustainable Green Energy Solutions.
In terms of financials, the company’s revenue from operations grew by 10.97 percent QoQ from Rs. 1,194 crore in Q2 FY23-24 to Rs. 1,325 crore in Q3 FY23-24, accompanied by an increase in net profit of 30.98 percent from Rs. 71 crore in Q2 FY23-24 to Rs. 93 crore in Q3 FY23-24.
Time Technoplast Ltd. is a multinational conglomerate and a leading manufacturer of polymer products.
The company’s portfolio includes technically driven innovative products for industry segments such as industrial packaging solutions, lifestyle products, automotive components, healthcare products, infrastructure or construction-related products, material handling solutions & composite cylinders.
Written by Shivani Singh
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