Accumulate Time Technoplast; target of Rs 426: Asit C Mehta

Asit C Mehta report on Time Technoplast

Time Technoplast Limited (TIMETECHNO) is a worldwide company that was established in 1992 and is a prominent maker of polymer goods. It has operations in Bahrain, Egypt, Indonesia, India, Malaysia, UAE, Taiwan, Thailand, Vietnam, Saudi Arabia, and the USA. The company's portfolio includes technically advanced, cutting-edge products including composite cylinders that serve expanding market niches, automotive components, healthcare products, infrastructure/constructionrelated products, material handling solutions, and industrial packaging solutions. Time Group holds the top three positions in the global manufacturing rankings for intermediate bulk containers, composite cylinders, and large capacity plastic drums. The Group's extensive R&D skills have allowed it to use plastic processing technologies (blow, injection, and extrusion) and polymers to create new, creative goods that can replace metal items. With 30 locations worldwide, including 20 in India, Time Group boasts cutting-edge production facilities that produce a broad range of technology-based polymer and composite products that serve different industries.

Outlook

We recommend an ACCUMULATE rating, based on a PE multiple of 18X for FY26E EPS of 23.71, setting a target price of 426, reflecting a potential upside of 29%.