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Motilal Oswal Report
Motilal Oswal reiterates its Buy rating on Time Technoplast Ltd. with a Rs 280 target, implying a potential uspide of 54% from the reports current market price of Rs 182, citing multiple levers for growth and margin expansion, including volume growth, plant automation, the proposed TPL Plastech merger and lower interest costs after debt repayment.
The brokerage highlights that Time management is confident of achieving 13-15% volume growth in the medium term, as guided earlier. Motilal Oswal sees many levers of growth that can help even surpass the guided growth range.
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Additionally FY26 was a year full of challenges, tensions in West Asia, the prolonged RussiaUkraine conflict, and volatility in crude and polymer prices, freight costs and currency markets created an operating environment that could have placed significant pressure on margins, adds the brokerage. However, Time Technoplast not only weathered this turbulence but also converted it into an opportunity to demonstrate the strength of its strong and sustainable business model.
FY26 turned out to be the most successful year in company's history, as revenue/Ebitdea/PAT grew ~12%/14%/21% YoY, each scaling new highs.
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