Time Technoplast Ltd Share Price

History of Time Technoplast Ltd

Time Technoplast Limited is an Indian multinational conglomerate and one of the leading manufacturers of technology-based polymer and composite products globally. Time Tech was the first company in India to introduce PE Drums to replace conventional steel drums, along with innovations such as 1,000 ¬liter Intermediate Bulk Containers (IBC), Plastic Fuel Tanks for Commercial Vehicles, Lithium Batteries, Spray Suppression Systems (3S), and Composite Gas Cylinders (covering LPG, CNG, Oxygen, and Hydrogen). The Company is having their manufacturing facilities located at Baddi in Himachal Pradesh, Pantnagar in Uttarakhand, Sahibabad in Uttar Pradesh, Mahad in Maharashtra, Hosur in Tamil Nadu, Daman & Diu and Silvassa. They are also having their manufacturing facilities in Sharjah. Time grou ...p's portfolio consists of technology-driven innovative products catering to growing industry segments like Industrial packaging solutions, Lifestyle products, Material handling solutions, Composite cylinders, Infrastructure/ Construction related products, and Automotive components. Time Technoplast Limited was incorporated on December 20, 1989 as 'Time Packaging Private Limited' and in year 1992; the name was changed to Time Packaging Limited and again to 'Time Technoplast Limited' in 2006. In the same year, the company started their operations as a small-scale industry with production facility at Tarapur in Maharashtra. In the year 1993, they made a technical collaboration with Mauser Group. In the year 1984, the company built a new production facility at Daman (UT) and started manufacturing of large size polymer drums. In the year 1995, they established their presence in South India through their production facility at Hosur in Tamil Nadu. In the year 1996, they started a plant at Baddi in Himachal Pradesh. They launched lifestyle products, namely Synthetic Turf & Matting under the brand 'Meadowz' and 'DuroTurf' in the year 1998 and in the next year, they launched Garden Furniture under the brand 'Regal'. In the year 1999, the company expanded their plant at Daman by adding production facility for packaging product. In the year 2000, they added new facility at Sahibabad for Garden furniture. In the year 2001, they set up an additional plant for PET sheets at Daman and also started production of plastic pails, namely conipails. In the year 2004, the company established a joint venture company with Mauser for manufacture of Intermediate Bulk Containers. In the year 2005, the company set up a 100% subsidiary, namely lan Incorporated FZE in Sharjah (UAE). In the year 2006, the company started additional manufacturing facility for production of large size plastic drums at Mahad. They launched Genex medical devices and lifestyle products, namely Durosoft during the year. They also set up a 100% subsidiary, namely Novo Tech Spzo.o. at Poland for manufacturing Auto Components and Lifestyle Products at Kostryzn Slubice Special Economic Zone. In the same year, the company entered into a MoU with Time Securities Services Pvt Ltd for acquisition of 49% stake in MHA, a joint venture with Mauser Group at Singapore. Also, they acquired 75% stake in TPL Plastech Ltd (formerly known as Tainwala Polycontainers Ltd). During the year, the group companies, namely Shalimar Packaging Pvt Ltd and Oxford Moulding Pvt Ltd merged with the company. During the year 2007-08, the company acquired 71.48% equity stake in NED Energy Ltd, a closely held company engaged in manufacture of high technology Valve Regulated Lead Acid (VRLA) batteries based at Hyderabad. Also, NED Energy Ltd acquired Gulf Powerbeat WLL (GPW), Kingdom of Bahrain, which has state-of-the art production facility at South Alba Industrial Area, Manama, Bahrain for manufacture of high quality long life batteries. In 2009, the company signed a MOU to acquire a Composite Cylinder Manufacturing Company in Czech Republic. In 2009, the Company entered into Joint Venture with M/s. Schoeller Arca Systems BV, (SAS) Netherlands to introduce a wide range of plastic Returnable Packaging (RTP) and material handling solutions. The joint venture will launch a broad range of small and large foldable containers, pallets, crates, etc. This will provide end to end material handling systems to sectors like retail, automotive, agriculture, beverages, processed food, apparels, Pharma, FMCG, consumer durables and logistics and help them reduce handling and transport costs. These products will provide long-term operational benefits, maximum efficiency and protection, optimum space utilization, create better logistics and supply chain. In 2010, the company announced launch of High Tech Composite Cylinders. The company signed a share purchase agreement to acquire Solutia Plastic business during the year under review. In 2012, the company receives ESMA approval for composite LPG cylinders. In 2013, the company was accorded the 'Best Innovative Technology supplier award by TATA Motors'. The company also launched composite cylinder during the year under review. In 2015, the company won most innovative plastic product design award litesafe composite Cylinders. In 2018, the company launched Double Walled Corrugated Pipes (DWC Pipes) with a capacity of 9,000 metric tonnes with a range of 100 mm to 1200 mm. It launched new generation multilayer pipes for power/communication cable ducts with silicone in lining. It also developed associated components to offer as a complete package. These technology driven innovative products conform to international standards and are used for high performance applications. Such pipes/ ducts are being introduced for the first time in the country and have substantial business potential. The Brownfield expansion in Malaysia, Sharjah & Vietnam has been completed and now all the nine overseas locations have IBC manufacturing facilities. The total capacity of IBCs globally has gone up to 960,000 units in nine countries including India. In Composite Cylinders, the company expended its capacity from 700,000 units to 1,400,000 units to further improve manufacturing efficiency and optimize production capacity. Besides, HPCL made a soft launch of Litesafe cylinders in Mumbai, Pune and Ahmedabad. In FY 2018, the MOX film (Multi layer Multi axis Oriented Cross Laminated Film) launched under the brand 'Techpaulin'. The company enhanced its MOX film capacity from 6,000 Mt to 12,000 Mt. to further improve manufacturing efficiency and optimize production capacity The capital expenditure incurred for the FY 2018 was Rs 2416 million, where regular and maintenance capital expenditure was Rs 1189 million and capex for value added products was Rs 1227 million. The company's subsidiary TPL Plastech Ltd. has set up a green-field manufacturing facility for industrial Packaging products at Vizag (A.P.). In addition, it increased polymer-processing capacity by 24,000 Mt at various existing locations in FY 2018. The capital expenditure incurred for the FY 2019 was Rs 2297 million, where established products for capacity expansion, re-engineering and automation was Rs 1,713 million and capex for value added products was Rs 584 million. In 2019, the Company completed Greenfield expansion of manufacturing of Intermediate Bulk containers (IBC) in Chicago and Silvassa. In addition to the above, the company has increased its polymer processing capacity by 40,000 Mt at various existing locations. In 2019, in the pipes front the company now launched a new generation multilayer pipes for power/communication cable ducts with silicone in lining and started supplying it. These technology driven innovative products conform to international standards and are used for high performance applications. Such pipes/ ducts are being introduced for the first time in the country and have substantial business potential especially in Smart Cities. The company has added DURO Gel, Duro Comfort, Duro Carpet and Duro Mat under Mats and Turf segments of the company. The Company started the production of packaging product at Malur near Bengaluru in 2020. It increased the polymer processing capacity by 19,900 MT at various existing locations. The Greenfield project for manufacturing of IBC Bottle in Iowa, USA commenced operations in 2021. The Company pioneered the use of polymers and composites to substitute metals wherever possible in FY 2024. It launched innovative products, including PE Drums replacing Steel Drums, Intermediate Bulk Containers (IBC) with a 1,000-liter capacity; Plastic Fuel Tanks for Commercial Vehicles; Lithium Batteries, Spray Suppression Systems (3S); Type IV Composite Gas Cylinders for LPG, CNG, Oxygen, Hydrogen in 2025.