Time Technoplast Secures BIS License for PE Pipes, Expands into Gas Distribution Sector

Time Technoplast Limited , a leading manufacturer of advanced polymer products, has achieved a significant milestone in its expansion strategy. The company has successfully obtained a Bureau of Indian Standards (BIS) license for Polyethylene (PE) pipes under the IS 14885:2022 standard, enabling its entry into the gas distribution sector.

Key Highlights

BIS License Obtained: Time Technoplast has secured the BIS license under IS 14885:2022 for manufacturing and selling PE pipes for gas distribution networks.
Timely Achievement: The company has met its committed timeline of Q2 FY26 for this development, as outlined in their earlier communication.
Strategic Expansion: This move allows Time Technoplast to enter the gas distribution sector, expanding its market presence in the polymer-based infrastructure segment.

PE Pipes: A Strategic Addition

The introduction of PE pipes for gas distribution offers several advantages:

Lightweight design
High durability
Extended service life

These factors are expected to strengthen Time Technoplast's market position and contribute to sustainable infrastructure growth.

Market Outlook and Opportunities

Time Technoplast is well-positioned to capitalize on the growing PE pipe market in India:

Market Projection: India's PE pipe market is forecasted to reach $13.7 billion by 2029.
Growth Drivers: Urbanization, expanding gas networks, and increasing water management needs.
Customer Base Expansion: The company aims to target over 20 public and private gas distribution companies, in addition to its existing EPC clients.
Capacity Utilization: Time Technoplast anticipates enhanced capacity utilization with minimal investment, supporting a projected 30% growth in its PE pipe segment.

Alignment with National Initiatives

Time Technoplast's expansion into PE pipes for gas distribution aligns with several national infrastructure projects:

Jal Jeevan Mission
PM Ujjwala Yojana
Smart Cities initiatives
Road infrastructure projects (through metal-to-PE pipe replacement)

Company Background

Time Technoplast Limited is recognized for its innovative and sustainable solutions across various sectors, including industrial packaging, infrastructure, lifestyle, and automotive. The addition of PE pipes for gas distribution further solidifies the company's leadership in the polymer-based infrastructure segment.

This strategic move by Time Technoplast demonstrates the company's commitment to technological advancement, quality, and customer-centricity, positioning it to play a significant role in India's infrastructure development.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.46%	+1.40%	-3.30%	+6.20%	-6.89%	+763.33%

Time Technoplast shares are now trading adjusted for their 1:1 bonus issue, marking a significant milestone for the company and its shareholders. The record date for this corporate action was set for September 23, with the stock reflecting the adjusted price in today's trading session.

Bonus Issue Details

The 1:1 bonus issue means that shareholders who held Time Technoplast shares as of Monday's close will receive one additional share for every share they owned. It's important to note that investors purchasing the stock today will not be eligible for this bonus allotment. This marks Time Technoplast's first-ever bonus issue, potentially enhancing liquidity and making the stock more accessible to a broader range of investors.

Recent Business Developments

Time Technoplast has been making strides in its business operations. On September 9, the company secured a significant contract worth ₹67.20 crore for CNG/CBG mobile storage cascades. This development showcases the company's continued growth in the industrial packaging and technical molded products sector.

Financial Performance

The company's financial performance has been robust, as evidenced by its June quarter results:

Financial Metric	Q1 FY2024	Y-o-Y Growth
Net Profit	80.50	41.00
Revenue	1,230.00	14.00

These figures demonstrate strong year-on-year growth, with net profit increasing by 41.00% and revenue rising by 14.00% compared to the same quarter in the previous year.

Stock Performance

In the previous trading session, Time Technoplast's stock closed at ₹476.90, experiencing a marginal decline of 0.60%. However, looking at a broader timeframe, the stock has shown impressive performance, gaining 18.50% over the last six months.

Commercial Paper Repayment

In a recent development, Time Technoplast has fulfilled its financial obligations by making a timely repayment of a commercial paper. According to the company's LODR (Listing Obligations and Disclosure Requirements) filing dated September 22, Time Technoplast repaid the maturity amount of a commercial paper with the ISIN No. INE508G14HI2 on its due date of September 22. This demonstrates the company's commitment to meeting its financial responsibilities and maintaining a strong financial position.

The bonus issue, coupled with the company's recent contract win, solid financial performance, and timely debt repayment, paints a picture of a company on a growth trajectory. Investors and market watchers will likely keep a close eye on Time Technoplast's future developments and financial performance in the coming quarters.