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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
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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%.


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.