Rs 770 Crore Order Book: Receipt of Confirmation Order from Regional Director for Merger of Subsidiary Company into Wholly Owned Step-Down Subsidiary
The stock gave multibagger returns of 300 per cent in just 2 years whereas the BSE Sensex Index is up by 31 per cent.
Time Technoplast Ltd has announced the receipt of a confirmation order dated May 3, 2025, from the Regional Director, South-East Region, Hyderabad, Ministry of Corporate Affairs, approving the merger of its subsidiary, NED Energy Limited, into its wholly-owned step-down subsidiary, Power Build Batteries Private Limited. This amalgamation scheme, effective from the appointed date of April 1, 2024, has been sanctioned under Section 233 of the Companies Act, 2013. The company had previously communicated this development on November 8, 2024.
This strategic merger is aimed at simplifying Time Technoplast's corporate structure and enhancing both operational and administrative efficiency. By consolidating NED Energy Limited and Power Build Batteries Private Limited, the company anticipates streamlined decision-making processes, optimised resource allocation, and an improved financial standing. Furthermore, this integration is expected to strengthen Time Technoplast's presence within the energy solutions sector, fostering a more dynamic and growth-oriented organisation while ensuring the seamless continuation of manufacturing operations, service support, and product development.
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Time Technoplast Ltd, a multinational conglomerate, leads the market in manufacturing large plastic drums and composite cylinders. Their focus is industrial packaging, with a strong domestic presence and cost-plus pricing. While they also produce infrastructure, lifestyle, and automotive components, their high-growth value-added products are particularly noteworthy. Composite cylinders, a key innovation, are lighter, more durable, and safer than traditional metal options, positioning Time Technoplast for a strong future in the evolving energy landscape. The company’s order book as of December 31, 2024, stands at Rs 770 crore.
The company has a market cap of over Rs 7,000 crore and reported positive numbers in its Quarterly Results (Q3FY25) and half-yearly results (9MFY24). The stock gave multibagger returns of 300 per cent in just 2 years whereas the BSE Sensex Index is up by 31 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.