Shares of this small-cap company involved in the manufacturing of polymer & composite products, jumped nearly 5 percent on Monday after securing PESO approval for high-pressure cylinders.
Price Movement
During Monday’s trading session, Time Technoplast Ltd‘s share price increased by 5 percent, reaching an intra-day high of Rs.412.45 per share, up from the previous close of Rs.391.05 apiece. The shares have retreated since then and closed at Rs.411.00 per share.
What Happened
Time Technoplast has secured approval from the Petroleum and Explosives Safety Organization (PESO) for the production and supply of high-pressure type-3 fully wrapped fiber-reinforced composite cylinders with a capacity of 6.8 liters.
These cylinders are specifically designed for storing hydrogen, which will be used to power fuel cell-driven unmanned aerial vehicles (UAVs) and drones. This development aligns with the company’s efforts to cater to emerging technological applications, and it is also in the process of creating additional sizes to support similar uses in this sector.
Key Benefits
Hydrogen-powered drones offer several advantages, including a higher power-to-weight ratio, extended range, and longer flying time.
They are lightweight yet capable of carrying high payloads, making them suitable for various applications such as defense, surveillance, monitoring, agricultural tasks, aerial photography, search and rescue operations, and cargo delivery.
Additionally, these drones are eco-friendly, provide faster refueling or recharging options, and have lower operating costs, enhancing their efficiency across multiple sectors.
The UAV and drone market, valued at around USD 30 billion, is projected to grow at an 11 percent CAGR, reaching USD 60 billion by 2032. This growth reflects rising demand for high-performance, long-range, and eco-friendly power solutions in this sector.
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Financial Performance
In its latest financial update, the company reported net sales of Rs.1,371 crore for Q2 FY25, up 15 percent from Rs.1,194 crore in Q2 FY24. However, profit after tax remained stable at Rs.100 crore, rising 40 percent from Rs.71 crore.
In terms of return ratios, the Return on Capital Employed (ROCE) and Return on Equity (ROE) stand at 15.6 percent and 12.5 percent, respectively. The company maintains a good current ratio of 2.54 and a low debt-to-equity ratio of 0.29.
About the Company
Time Technoplast Ltd is a prominent Indian multinational company, established in 1989, that specializes in manufacturing polymer and composite products. The company operates across various sectors, including industrial packaging, automotive components, healthcare products, and infrastructure solutions.
Written by – Siddesh S Raskar
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