Time Technoplast Limited delivered its strongest financial performance in FY26, with consolidated revenue rising 12% to ₹6,114 crore and profit after tax climbing 21% to ₹469 crore. Chairman Sanjaya Kulkarni described the period as the most successful year in the company's history during the 36th Annual General Meeting.

The results were shared at the 36th Annual General Meeting held on September 22, 2026, via video conferencing. The meeting commenced at 4:00 pm and concluded at 5:13 pm, attended by 96 members. The company attributed the performance to its B2B model, a monthly pricing mechanism that passes on input cost movements to customers within 20-25 days, a diversified product portfolio, and presence across 11 countries.

FY26 financial performance

The following table summarises the key consolidated financial metrics for FY26 compared with FY25:

Composite Cylinders, Intermediate Bulk Containers, and MOX Films grew approximately 18% during the year, increasing their share of consolidated revenue to 29% from 27% a year earlier. Established Products grew 10%, providing a stable foundation for the business.

Q1FY27 momentum

The company carried this performance into the first quarter of FY27, with revenue growing 25% to ₹1,694 crore compared with ₹1,354 crore in Q1FY26. EBITDA rose 15% to ₹225 crore, while profit after tax grew 22% to ₹117 crore, against volume growth of 11.3%.

Segment performance

The table below captures segment-wise revenue contribution in FY26:

Time Technoplast holds over 55% market share in domestic industrial packaging and is described as the world's largest manufacturer of large-size plastic drums. The company is also the world's third-largest IBC manufacturer, with capacity of 6.3 lakh units in India and 14.4 lakh units overseas. In Composite Products, the company is the world's second-largest composite cylinder manufacturer, with an LPG export network spanning 51+ countries. Over 20 lakh cylinders were delivered over the past 24 months, with cumulative LPG cylinder revenue exceeding ₹400 crore over that period; 11.99 lakh cylinders were sold in FY26 alone, representing 5.8% volume growth YoY. The CNG order book stood at ₹195 crore as at the end of FY26, and the Infrastructure segment carried an order book of approximately ₹265 crore. MOX Films revenue rose 9.3% to ₹171 crore.

Capital allocation and corporate actions

During FY26, the company invested ₹370 crore in capital expenditure. A Qualified Institutions Placement raised ₹800 crore through the issue of 3,97,77,247 equity shares at ₹201.12 per share, with proceeds deployed towards debt repayment, capital investments, and working capital. The Board approved allotment of 22,69,29,066 bonus equity shares in a 1:1 ratio, with a record date of September 23, 2025. A final dividend of ₹1.50 per share (150%) was recommended for FY26, taking the dividend payout ratio to 15.8% from 14.6% in FY25.

New products, acquisitions and sustainability

Key developments during and after FY26 include:

• Time Technoplast became the first company in India to receive PESO approval for Type-III and Type-IV composite hydrogen cylinders, and secured approval for high-pressure Type-III 2-litre cylinders.
• India's first flight trials of a hydrogen-powered drone integrated with the company's Type-III composite hydrogen cylinder and fuel cell system were successfully completed.
• A strategic partnership was entered with Poppe + Potthoff GmbH, Germany, and Imperial Auto Industries Ltd. to develop hydrogen system solutions for India.
• Subsidiary Power Build Batteries Private Limited received CPRI certification for stationary tubular batteries and entered a multi-year exclusive agreement with Monbat AD, Europe, for supply of advanced batteries to data-centre, IT, BFSI and critical-infrastructure sectors in India.
• A BIS license was obtained for PE Pipes for Gas Distribution.
• Subsidiary Time Ecotech Private Limited commissioned its first greenfield recycling facility at Bhilad, near Vapi, Gujarat, with annual capacity of 12,000 metric tonnes.
• An automated IBC manufacturing facility was commissioned at Silvassa.
• Elan Steel Containers (FZC) was incorporated in Sharjah to expand Middle East packaging presence.
• Subsequent to year-end, a 76% stake in Systoverse Private Limited, a Maharashtra-based manufacturer of HDPE pipes and sprinkler systems, was acquired in June 2026.
• The merger of NED Energy Limited into Power Build Batteries Private Limited was completed following confirmation from the Regional Director.
• The Board gave in-principle approval for the merger of TPL Plastech Limited into Time Technoplast Limited under Sections 230-232 of the Companies Act, 2013.

On sustainability, solar power purchase agreements active across Karnataka, Tamil Nadu, Gujarat and West Bengal are generating annualised savings of approximately ₹11 crore, with further benefits expected from Maharashtra and Uttarakhand from Q3FY27. The company has set a target to transition 75% of its power consumption to green energy over the next two years.

AGM proceedings and governance updates

The 36th AGM saw the adoption of audited standalone and consolidated financial statements for FY26. Shareholders approved the re-appointment of Chairman Sanjaya Kulkarni and Director Mahinder Kumar Wadhwa. Additionally, Devendra Jitendra Shah and Hema Rajendra Gaitonde were appointed as Independent Directors for a five-year term effective August 5, 2026. During the interactive session, Managing Director and CFO Bharat Kumar Vageria addressed queries regarding dividend payout increases, growth opportunities, geopolitical disruptions, new projects, and AI applications.

Time Technoplast has commissioned its greenfield manufacturing facility in Bhilad, Gujarat. The company announced the completion on September 17, 2026, confirming that production will commence on September 25, 2026.

The new plant is dedicated to manufacturing conical polymer pails and injection moulded products. It represents a strategic expansion into a specific product line with a focus on automation.

Plant Specifications

The facility was established with an investment of approximately ₹24 crore. It features a fully automated setup using robotics to minimize human intervention and reduce administration costs.

Operational Outlook

Management expects the plant to generate a turnover of approximately ₹100 crore at an estimated capacity utilization of 90%. The deployment of modern technology aims to achieve maximum operating efficiency for this product line.

The installation of plant and machinery is complete. The project was executed within the scheduled timeline, as disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.