Time Technoplast wins Rs. 210 crore order

Pratik Shastri
/ Categories: Trending, DSIJ News
Time Technoplast wins Rs. 210 crore order

Gujarat-based polymer manufacturer, Time Technoplast won orders for supply of high quality, high-pressure PE pipes for water supply project in India.

The order is valued in excess of Rs. 210 crore. The project will be further assisted by international development agencies. Management in its exchange filing said that this order is one of the biggest orders won in PE pipes sector. It further mentioned that the company's ‘on time’ delivery record helped win such a big order amidst stiff competition in the industry.

Polymer products business contributed to 70 per cent of the company's total revenue share till December 2018. It had a strong order book of Rs. 295 crore as of Q3FY19. Based on such strong performance, the company expects 40 per cent growth in this business.

Time Techno is a leading player in the polymer space. Its product mix caters to business verticals such as industrial packaging, infra, lifestyle, healthcare and auto components.

Stock on Monday hit an intraday high of Rs. 102.60. At 14.14 pm, the stock showed gains of 0.76 per cent to trade at Rs. 99.75 per share. The BSE Sensex traded with losses of more than 431.45 points at 37,733.16.

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