Stock in Focus: Multinational Conglomerate Establishes New Subsidiary To Launch Rs 120 Crore Recycling Initiative - Details Inside!
The stock is down by 11 per cent over the last month, while over the last 12 months.
On Friday, Time Technoplast Ltd communicated to the National Stock Exchange of India Ltd and BSE Limited the incorporation of its new wholly owned subsidiary, Time Ecotech Private Limited (TEPL). Time Ecotech Private Limited will specialise in the recycling and reprocessing of used industrial plastic packaging, thereby contributing significantly to India's circular economy objectives. In the initial Phase one of the company's operations, a greenfield facility will be established in Gujarat. This marks the commencement of a nationwide initiative aimed at revolutionising waste management and resource recovery processes. Recognising the global shift towards sustainable practices, the Time Group is proactively taking a leadership role in this sector.
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TEPL, being a 100 per cent wholly owned subsidiary, will uphold the Time Group's core values by actively collaborating with regulatory bodies and various industry stakeholders. The focus will be on developing recycling processes that are scalable, transparent, and environmentally friendly. The long-term strategic plan includes an approximate investment of Rs 120 crore towards establishing four fully automated recycling plants across the nation. The date of incorporation for Time Ecotech Private Limited is recorded as May 9, 2025. The initial paid-up share capital contribution to TEPL by Time Technoplast Ltd is Rs 50 lakh . Time Technoplast Ltd holds 100 per cent of the paid-up share capital of Time Ecotech Private Limited. The primary line of business for the newly incorporated entity is the recycling and reprocessing of used industrial plastic packaging products. As the company was incorporated on May 9, 2025.
The latest available Quarterly Results for Time Technoplast Ltd are for the quarter ended December 31, 2024. The company reported total revenue of Rs 1389.33 crore, which represents a growth of 4.73 per cent compared to the same period in the previous year. The net profit for the quarter stood at Rs 100.76 crore, showing a growth of 10 per cent year-on-year. The net profit margin for the quarter was 7.25 per cent. On a sequential basis, compared to the quarter ended September 30, 2024, the revenue increased by 1.3 per cent and the net profit increased by 2.44 per cent.
Time Technoplast Ltd is a leading polymer product manufacturing company with a diverse portfolio. The company is the largest manufacturer of large-size plastic drums globally, the second-largest manufacturer of composite cylinders, and the third-largest manufacturer of Intermediate Bulk Containers (IBCs) worldwide. Their business operations are segmented into industrial packaging solutions, lifestyle products, and composite cylinders. The company caters to various sectors, including industrial, infrastructure, and consumer goods, offering a wide range of polymer-based products. The stock is down by 11 per cent over the last month, while over the last 12 months.
"Disclaimer: The article is for informational purposes only and not investment advice."