Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

Buy Time Technoplast; target of Rs 125: ICICI Direct

ICICI Direct is bullish on Time Technoplast recommended buy rating on the stock with a target price of Rs 125 in its research report dated November 16, 2022.

November 30, 2022 / 03:45 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

ICICI Direct's research report on Time Technoplast

Time Technoplast is a leading manufacturer of polymer based packaging & composite products with 34 production facilities in 11 countries. Established products (industrial packaging, PE pipe, battery others) contribute ~80% to the topline while value added product category (IBC, composite cylinders, mox films) contribute 20% of revenue • Focus is to increase revenue sharing from value added product category in the next five years from 20% to 22%.

Outlook

We maintain our BUY rating on the stock. We maintain our target price at Rs 125/share valuing the stock at 5x EV/EBITDA on FY24E EBITDA.