Time Technoplast Announces First Bonus Issue; Q1 Profit Rises 20%
The company will issue one bonus share for every equity held by the eligible shareholders.
Time Technoplast Ltd. on Monday announced and approved its first bonus issue along with its first-quarter results. The 1:1 bonus is subject to approval from the shareholders and other regulatory approvals.
The company will issue one bonus share for every equity held by the eligible shareholders. The record date for determining the entitlement of the members of the company will be announced in due course, the company said in an exchange filing on Monday.
Time Technoplast Q1 Results
Time Technoplast's profit rose 20% in the first quarter of this financial year. It has posted a consolidated profit of Rs 95.10 crore in the quarter ended June. This is in comparison to profit of Rs 79.31 crore in the same quarter of the previous fiscal year.
Revenue increased by 10% year-on-year for the three months ended June, reaching Rs 1,352.65 crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose 12% year-on-year to Rs 194.87 crore. The Ebitda margin expanded by 20 basis points to 14.4%.
According to the company's investor presentation, value-added products grew by 15% in the quarter ended June, while established products grew by 8%. The company’s focus remains to increase the share of value-added products in its revenue and improve margins.
Total Debt reduced by Rs 37.4 crore from fiscal 2025.
The company has also made a strategic decision to consolidate its products and manufacturing units. This includes brownfield expansion and adding new units, which will better align with evolving market demands while optimising operational costs.
Time Technoplast's revenue contribution from US manufacturing operations is around 8% of consolidated revenue of the company. The company is having manufacturing operations to serve the local industry considering the voluminous product and all the major inputs are sourced from local manufacturers, therefore tariff effect will not affect the revenue and margin of US operations.
Time Technoplast Share Price Today
The quarterly earnings were shared aftermarket hours. The stock settled 1.46% higher at Rs 464.80 apiece on the NSE, compared to a 0.91% advance in the benchmark Nifty 50.
Time Technoplast's shares have risen 42.05% in the last 12 months and fallen 5.83% year-to-date.
Both analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target of Rs 596.50 implies an upside of 28.3%.
