Time Technoplast , a leading polymer and composite products manufacturer, has reported robust financial results for the first quarter, while outlining an ambitious growth strategy for the coming years.

Financial Highlights

The company reported a 10% year-on-year increase in total income, reaching ₹13,536.00 million for the quarter. Profit after tax (PAT) saw a significant jump of 20%, rising to ₹951.00 million from ₹793.00 million in the same quarter last year.

Key financial metrics for Q1 include:

Growth Strategy and Future Outlook

Time Technoplast has set an ambitious target of achieving over 20% growth rate in the next three years. The company's growth strategy is primarily supported by three key areas:

1. Hydrogen Cylinders: As part of its focus on sustainable technologies, Time Technoplast has signed a Memorandum of Understanding (MoU) with Drone Stark Technologies to develop hydrogen-powered drones using Composite Hydrogen Cylinders and fuel cell technology.

2. CNG Products: The company reported a 20% growth in Composite Cylinders (CNG) for Q1, with a strong order book of ₹1,750.00 million for CNG Cascades.

3. Composite Products: This segment showed a revenue of ₹4,914.00 million in Q1, up from ₹4,273.00 million in the same quarter last year, with an improved EBITDA margin of 15.40%.

Expansion and Sustainability Initiatives

Time Technoplast is also focusing on several expansion and sustainability initiatives:

• The company plans to transform 75% of its electricity consumption to green energy within the next two years through tie-ups with solar power generating companies.
• A new subsidiary, Time Ecotech Private Limited, has been incorporated to focus on recycling and reprocessing industrial plastic packaging.
• The company aims to set up fully automated recycling plants across key Indian regions with the capacity to process up to 60,000 MT of plastic annually.

Management Commentary

Bharat Kumar Vageria, Managing Director of Time Technoplast, stated, "Our strong performance in Q1 sets a positive tone for the year ahead. We are confident that our focus on innovative products, particularly in the clean energy storage sector, will drive our targeted growth over the next three years."

Time Technoplast's strategic focus on value-added products, which grew by 15% in Q1 compared to the same quarter last year, is expected to improve margins and drive profitability in the coming years.

The company's board has also approved a 1:1 bonus share issue, subject to shareholder approval, reflecting confidence in its financial position and future prospects.

As Time Technoplast continues to expand its presence in the clean energy storage sector and focuses on sustainability initiatives, it appears well-positioned to achieve its ambitious growth targets in the coming years.

Time Technoplast Limited, a leading polymer product manufacturer, has announced a series of significant developments, including a bonus share issue and robust financial results for the first quarter.

Bonus Share Issue and Capital Restructuring

The company's board of directors has approved a 1:1 bonus share issue, subject to shareholder and regulatory approvals. This means shareholders will receive one bonus equity share for every one fully paid-up equity share held. The move is aimed at rewarding shareholders and improving stock liquidity.

In conjunction with the bonus issue, Time Technoplast plans to increase its authorized share capital from ₹52.50 crores to ₹100.00 crores. This expansion will accommodate the bonus issue and provide room for future capital raising activities.

Q1 Financial Highlights

For the quarter ended June 30, Time Technoplast reported impressive financial results:

• Consolidated revenue reached ₹1,352.65 crores, a 10% increase from ₹1,230.05 crores in the same quarter of the previous year.
• Net profit after tax grew by 20% to ₹96.55 crores, up from ₹80.46 crores year-on-year.
• Earnings per share (EPS) improved to ₹4.19, compared to ₹3.49 in the previous year.

Segment Performance

The company's performance was strong across its business segments:

Key Financial Metrics

Time Technoplast demonstrated solid financial health in Q1:

• Operating EBITDA margin stood at 14.47%.
• Current ratio improved to 2.92, indicating strong liquidity.
• Debt-to-equity ratio decreased to 0.20, reflecting a stronger balance sheet.

Management Commentary

Bharat Kumar Vageria, Managing Director of Time Technoplast, stated, "Our Q1 results reflect the company's resilience and growth trajectory. The proposed bonus issue underscores our commitment to creating value for our shareholders."

Corporate Governance and Leadership

The board has re-appointed three whole-time directors:

• Mr. Raghupathy Thyagarajan and Mr. Naveen Kumar Jain, both promoters and co-founders, for five-year terms.
• Mr. Sanjeev Sharma, President of International Operations, for a three-year term.

Future Outlook

Time Technoplast is focusing on improving its Return on Capital Employed (ROCE), targeting 20% for the fiscal year. The company is also consolidating its products and manufacturing units to optimize operational costs and align with market demands.

Upcoming Annual General Meeting

The company has scheduled its 35th Annual General Meeting for September 11, with book closure dates from September 5-11.

Time Technoplast's strong Q1 performance, coupled with strategic initiatives like the bonus share issue and leadership reappointments, positions the company for continued growth in the polymer products industry.