Market Leader stock which is one of the leading manufacturers of technology-based polymer and composite products, jumped 4 percent in the day’s trade upon receiving a work order from IOCL for a consideration of Rs. 55 Crores.
Price Action
With a market capitalization of Rs. 7,647 Crores, the shares of Time Technoplast Limited were trading at Rs. 337 per equity share, up 1.69 percent from its previous day’s close price of Rs. 331.40
What Happened
Time Technoplast Limited has received an additional work order from Indian Oil Corporation Limited for the supply of 10 kg capacity Composite LPG cylinders for a consideration of Rs.55 crores and the work order should be executed within 12 Months.
Further discussions are in progress with Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) for the supply of its goods and services.
In Additon, recently it received a final approval from Petroleum and Explosives Safety Organization (PESO) for the manufacturing and supply of High-Pressure type-IV Composite Cylinders For Hydrogen. Following which it became the first company in India to receive final approval for the manufacturing and supply of Type-IV Composite Cylinders for Hydrogen.
About the Company
Time Technoplast Limited is one of the leading manufacturers of technology-based polymer and composite products with a Strong presence in Asia & MENA regions. It is the largest manufacturer of large-size plastic drums with a market share of around 60 percent.
Its portfolio consists of technology-driven products catering to industry segments like Industrial packaging solutions, Infrastructure/ Construction products, Lifestyle products, Material handling solutions, Composite cylinders, and Automotive components.
It has a strong customer base with some well-known Marquee clients including BASF, Huntsman, Bayer, Du Pont, Indian Oil, Gulf, ExxonMobil, Total, Ashok Leyland, Tata Motors, Cargill, GE, L&T, and many others.
Financials & Ratios
Its Revenue from Operations grew by 16.94 percent from Rs. 1,192.38 Crores in Q4FY23 to Rs. 1,394.32 Crores in Q4FY24, accompanied by profits of Rs. 65.21 Crores to Rs. 94.26 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 12.9 percent and a return on capital employed (ROCE) of 16. It has debt to equity ratio of 0.32.
Written by: Bharath K.S
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