Motilal Oswal's research report on Time Technoplast
TIME is the world’s largest manufacturer of large-size plastic drums, with an impressive 50-60% market share in India and a significant share in 10 other countries. It was the first company to launch intermediate bulk containers (IBC) in India and is now the third largest IBC manufacturer worldwide. Additionally, TIME ranks as the second largest global manufacturer of Type-IV composite LPG and CNG cylinders.
Outlook
Considering its strong growth prospects, improving return ratios and attractive valuation (~16x FY27E P/E), we initiate coverage on TIME with a BUY rating and a TP of INR578 (41% upside), based on 22x FY27E P/E (close to sector average).
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