Time Technoplast stock has doubled in the past year and is up 125 per cent in 2017. In an interview to CNBC-TV18, Anil Jain, MD of Time Technoplast spoke about the latest happenings in the company and his outlook going forward.
Our value growth was 10 percent but volume growth was in excess of 13 percent previous year, said Jain. Based on that we had said that this year we should be growing at about 20 percent, he added.
He further said that debt as of March 2017 is at Rs 720 crore and looking to maintain it at these level.
Jain expects finance cost to stay stable in FY18 versus FY17.
On buyback front, he said promoters hold 53 percent in the company but buying back shares not a priority currently.
Talking about business, he said value added products business is seeing a substantial growth.
He is looking at the value added business forming 18 percent of revenue versus 13 percent earlier.Watch accompanying video for more details.