ICICI Direct has given Buy recommendation for Time Technoplast with a target price of Rs. 125 in its research report issued on Aug 17, 2022

ICICI Direct’s research report on Time Technoplast

Time Technoplast is a leading manufacturer of polymer based packaging & composite products with 34 production facilities in 11 countries. Established products (industrial packaging, PE pipe, battery others) contribute ~80% to the topline while value added product category (IBC, composite cylinders, mox films) contribute 20% of revenue • Focus is to increase revenue sharing from value added product category in the next five years from 20% to 22%.


We revise our rating from HOLD to BUY on the stock. We value the stock at 5x EV/EBITDA on FY24E EBITDA and revise our target price to Rs 125/share.

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