Time Technoplast announced robust financial results for Q3FY26 and 9MFY26, highlighting significant growth propelled by its focus on value-added products. Total Income grew 13% YoY in Q3FY26 and 11.1% YoY for 9MFY26. EBITDA saw a strong 17% YoY jump in Q3 and 14.1% YoY in 9MFY26, with PAT growing 25% and 21%, respectively. The strategic QIP funding is actively being deployed to fuel expansion in high-growth composite and recycling segments.
Q3FY26 & 9MFY26 Financial Performance Overview
Time Technoplast has reported solid financial performance for the third quarter and nine months ending December 31, 2025. Key highlights include:
- Total Income (Q3FY26): Increased by 13% to ₹15,671 Mn (from ₹13,893 Mn in Q3FY25).
- EBITDA (Q3FY26): Grew by 17% to ₹2,358 Mn, with the margin improving to 15.0% (from 14.6%).
- PAT (Q3FY26): Surged by 25% to ₹1,263 Mn (from ₹1,008 Mn).
- 9MFY26 Total Income: Reached ₹44,328 Mn, up 11% YoY.
- 9MFY26 EBITDA: Rose 14% YoY to ₹6,554 Mn, with the margin at 14.8%.
- 9MFY26 PAT: Increased 21% YoY to ₹3,369 Mn.
Growth Drivers: Value-Added Products
The company’s focus on increasing the share of value-added products is yielding results, as seen in both volume and revenue growth:
- Value Added Products Growth (Q3FY26): Increased by 19% in volume compared to Q3FY25 (Established Products grew by 11%).
- Value Added Products Growth (9MFY26): Increased by 17% in volume compared to 9MFY25 (Established Products grew by 9%).
- In Q3FY26, the Value Added segment contributed 38% to revenue, while for 9MFY26, this share stood at 29%.
Operational and Strategic Highlights
The company reported several operational milestones:
- Return on Capital Employed (ROCE): Improved to 18.6% in 9MFY26 from 18.1% in FY25, with a target of 20% for FY26.
- Debt Reduction: Total Debt was reduced by ₹3,801 Mn in 9MFY26, utilizing proceeds from the QIP.
- Cash Flow: Net Cash from Operating Activities for 9MFY25 was ₹3,323 Mn.
- Order Book: Strong order book includes ₹1,650 Mn for Composite Cylinders (CNG Cascades) and ₹2,750 Mn for PE Pipes.
- Confirmed tender received for Packaging Products amounts to ₹4,250 Mn.
Project Vistriaa – QIP Deployment
The ₹800 Crore QIP was successfully closed on November 11, 2025, with an issue price of ₹201.12 per share, resulting in an 8.8% post-issue dilution. The utilization details as of December 31, 2025, show:
- Borrowing Repayment: ₹321.2 Cr utilized out of ₹400 Cr allocated.
- Inorganic Growth Funding: ₹222.1 Cr remains allocated for future strategic investments.
- Total utilized funds amounted to ₹340 Cr against the original allocation of ₹800 Cr.
Future Growth Outlook & New Products
The ‘Looking Forward’ section outlines aggressive revenue growth drivers:
- Composite Growth Target: Expected 25-30% growth for LPG, CNG, Hydrogen, and Fire Extinguishers.
- PE Pipes Growth Target: Expected 20-25% growth.
- Sustainability Focus: Commitment to convert 75% of electricity consumption to solar power over the next two years.
- New Products: Development includes Type-III Hydrogen Cylinders for drones (approved by PESO), Type-III Composite Cylinders for medical oxygen, and the eSTART with SELENIUM E-rickshaw battery by subsidiary PowerBuild Batteries.
Key Project Completions in Q4FY26
Several key capacity expansion projects are slated for completion in Q4FY26:
- Greenfield Composite CNG Project (Morai, Gujarat): Total capacity of 1,080 cascades.
- Greenfield Recycling Plant (Bhilad, Gujarat): 12,000 MT annual capacity for captive consumption.
- Brownfield Automated IBC Facility (Silvassa): Phase I completed, targeting 300,000 IBCs annual capacity post-Phase II completion by FY27.
Source: BSE
