Review

TIME TECHNOPLAST

Ticker : 532856 
Rec. Price Rs.103.45
CMP: Rs.80.50
Face Value : Rs.1
52-Week H/L: Rs.165/76.20



We had recommended Time Technoplast in vol. 35, issue no. 23, (dated Apr 1, 2019), when the scrip was trading at Rs 103.45. Our recommendation was based on factors like the company securing a high value order of Rs. 210 crore to supply high quality, high pressure PE pipes from India’s leading EPC contractor. In Q3FY19, the net sales for the company came in at Rs. 1508.44 crore, up 27.41 per cent from Rs. 1183.90 in December 2017. The net profit for the company stood at Rs 197.99 crore for the quarter ended December 2018, up 19.33 per cent from Rs 165.92 crore in December 2017. The company’s value-added products category revenue growth will be supported by capacity addition of composite cylinder and strong demand for MOX films. The company has a healthy order book of Rs. 295 crore as of Q3FY19. Thus, we recommend a HOLD on the stock.