### **Overview** Time Technoplast Limited (TTL), incorporated in 1992 and headquartered in India, is a multinational leader in **polymer and composite product manufacturing**, operating across 11 countries with a strong footprint in Asia, the Middle East, North Africa (MENA), and the United States. Listed on the NSE and BSE since 2007, the company is the flagship of the **Time Group**—a global polymer conglomerate serving over **900 institutional customers** worldwide through **14+ recognized brands**. TTL has evolved from a domestic packaging manufacturer into a **technology-driven, vertically integrated global player**, focusing on innovative, sustainable polymer and composite solutions that replace traditional materials like steel and cement. The company operates **30 manufacturing facilities globally**, including 20 in India, and maintains an in-house R&D team of over 30 professionals with decades of combined experience. --- ### **Financial Performance & Revenue Highlights (FY25)** In **FY25**, Time Technoplast reported **consolidated revenue of ₹5,462 crore**, showcasing robust growth and diversification across its product lines: - **Established Products**: ₹3,987 crore (73% of total revenue) Includes industrial packaging (drums, jerry cans), infrastructure (PE pipes, energy storage), and technical/lifestyle products (turf & matting, bins, auto components). - **Value-Added Products (VAP)**: ₹1,475 crore (27%) Driven by high-margin composite solutions and specialty films. #### Breakdown of Key Revenue Streams: | Segment | Revenue (FY25) | Key Components | |--------|----------------|----------------| | **Industrial Packaging** | ₹3,398 crore | Polymer drums, IBCs, pails – serves chemicals (31%), FMCG (29%), construction chemicals (13%), paints & inks (12%) | | **Infrastructure** | ₹377 crore | HDPE/PE pipes for water, irrigation, sewage, smart cities | | **Technical & Lifestyle** | ₹212 crore | Turf, mats, bins, auto products (e.g., rain flaps, fuel tanks) | | **Intermediate Bulk Containers (IBC)** | ₹698 crore | High-growth specialty packaging solution | | **Composite Cylinders (LPG/CNG/Oxygen)** | ₹622 crore | Includes cascades, on-board vehicles, medical oxygen | | **MOX Film (Techpaulin)** | ₹155 crore | Multi-layer cross-laminated film used in agriculture, construction, trucking | In **domestic markets**, TTL holds a **dominant 55% market share in industrial packaging** and is the **largest manufacturer of large-size plastic drums globally**. It ranks as the **second-largest global producer of composite cylinders** and the **third-largest IBC manufacturer worldwide**. --- ### **Strategic Growth Drivers** #### 1. **Expanding Role in Green Energy & Hydrogen Economy** - TTL is the **first Indian company to receive PESO and BIS approvals** for **Type-III and Type-IV composite cylinders** for: - **Hydrogen** (used in drones, fuel cell vehicles, refueling stations) - **CNG** (on-board and cascade applications) - **Medical oxygen and breathing air** - Launched India’s first **6.8-litre Type-III fiber-reinforced composite cylinder for UAVs/drones**, enabling lightweight, long-duration flight operations. - Developing **high-capacity composite CNG and hydrogen cylinders** for future mobility and industrial decarbonization. - Global hydrogen composite cylinder market projected to grow at **13.2% CAGR**, reaching **$4.4 billion by 2036** – TTL is well-positioned to capture share. #### 2. **HDPE & PE Pipes Business – Infrastructure-Linked Growth** - Generated ₹283 crore in FY25, with **order book at ₹280 crore**, including a major **₹190 crore contract** from Amaravati Development Corporation and AP Capital Region Authority. - Targeting **20+ gas distribution companies** for its new **BIS-approved PE gas distribution pipes**. - Government-led missions like **Smart Cities, Jal Jeevan Mission, Nal Se Jal**, and **Swachh Bharat** are accelerating demand. - HDPE pipe segment expected to grow at **~30% CAGR** due to corrosion resistance, leak-proof design, and infrastructure push. #### 3. **Composite Cylinders – Future of LPG, CNG & Mobility** - **Type-IV Composite Cylinders** are revolutionizing gas storage with advantages: - **75% lighter** than steel - Corrosion-proof, UV-stable, explosion-proof - Longer shelf life and higher safety - Major supply agreement with **Indian Oil Corporation Limited (IOCL)** for **750,000+ Type-IV LPG cylinders**, with strong follow-on potential under **Pradhan Mantri Ujjwala Yojana**. - CNG cascades and **Mobile Refueling Units (MRUs)** represent a **$11,453 crore (Rs. 1.14 lakh crore) total business opportunity** over 8–10 years. - Annualized CNG market potential estimated at **₹6,288 crore**, with TTL targeting **₹2,200 crore annual revenue** from composites. #### 4. **Inorganic Growth & Expansion** - Signed MoU to acquire **74% stake in Ebullient Packaging Pvt. Ltd. (EPPL)** for enterprise value of ~₹200 crore. - EPPL manufactures **FIBCs, polymer drums, jerry cans, and small steel drums**. - Operates at 70% capacity with FY26 revenue forecast of ₹250 crore. - Entry into fast-growing **₹7,000 crore FIBC market** (20% CAGR); global FIBC market expected to reach **$12 billion by 2030**. - Supports **'Make in India'** and circular economy goals. - Established **new greenfield facilities** in **Saudi Arabia (MODON Industrial Area)** and **UAE (Sharjah Free Zone – Elan Steel Containers for steel drums)**. - Subsidiary **TPL Plastech** building a new IBC unit in **Lote-Parshuram, Maharashtra**, targeting FY26–27 completion. - Expansion in **USA, Indonesia, Vietnam, Egypt, and Malaysia** post-IPO. #### 5. **Batteries & Clean Mobility** - Subsidiary **Power Build Batteries Pvt. Ltd. (PBBPL)** launched **'e-START with SELENIUM'** batteries for e-rickshaws. - Low-cost, high-performance **selenium-enhanced lead-acid batteries**. - ICAT-certified for OEM supply; designed for **faster charging, improved safety, reduced water loss**. - E-rickshaw battery market valued at **₹6,400 crore**, growing at **~25% CAGR**. - Existing e-rickshaw fleet: **1.6 million units in India**, with **400,000 new units added annually**. - Expected **₹150 crore revenue over next 3 years** from battery expansion at current sites. - NED Energy (acquired) developing **TBS (Transparent Container Batteries)** and **lithium-ion variants**. --- ### **Innovation & R&D Focus** - Dedicated R&D center focused on **material science, process automation, and product innovation**. - Over **450 years of cumulative R&D experience** in-house. - Pioneered multiple Indian firsts: - Polyethylene (PE) drums replacing steel - 1,000-litre Intermediate Bulk Containers (IBCs) - Plastic fuel tanks for commercial vehicles - Fully composite **Type-IV LPG/CNG/hydrogen cylinders** - Anti-spray rain flaps (3S), def tanks, multilayer silicon-lined PE pipes - Active development on **composite fire extinguishers, OP-Z batteries, and hydrogen storage systems**. --- ### **Sustainability & Circular Economy Initiatives** - Launched **Time Ecotech Pvt. Ltd. (TEPL)** – recycling arm processing **up to 60,000 MT/year** of post-consumer plastic waste. - Invested ₹120 crore over 3–4 years in greenfield recycling plants. - Aims to support **national circular economy vision**. - **75% of electricity consumption to come from solar power** within two years – reducing energy costs and carbon footprint. - MOX Film (Techpaulin) made from advanced cross-laminated polymers; used in **agricultural mulching, pond liners, greenhouse covers**, contributing to water conservation and climate resilience. --- ### **Market Position & Competitive Advantages** | Achievement | Status | |-----------|--------| | Largest manufacturer of large-size plastic drums globally | ✅ | | Second-largest composite cylinder maker worldwide | ✅ | | Third-largest IBC manufacturer globally | ✅ | | First in India to launch IBCs, PE drums, plastic fuel tanks | ✅ | | First Indian company with PESO approval for Type-IV hydrogen and CNG cylinders | ✅ | | Market leader in 9 out of 11 countries of operation | ✅ | | Key supplier to Indian Oil Corporation (IOCL), Tata Motors, BASF, DuPont, L&T | ✅ |