Time Technoplast Limited Receives Major Work Order Boosting Stock Value
Key Ideas
- Time Technoplast Limited's stock rose by 4 percent after securing a Rs. 55 Crores work order from Indian Oil Corporation Limited, contributing to a market cap of Rs. 7,647 Crores.
- The company is in talks with Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) for potential future collaborations.
- Time Technoplast Limited achieved a milestone by receiving final approval from Petroleum and Explosives Safety Organization (PESO) to manufacture and supply Type-IV Composite Cylinders for Hydrogen, becoming the first company in India to do so.
- Financially, the company saw a significant growth in Revenue from Operations and profits in Q4FY24, along with impressive return ratios and a low debt to equity ratio.
Time Technoplast Limited, a prominent manufacturer of technology-based polymer and composite products, experienced a 4 percent increase in its stock value following a substantial work order from Indian Oil Corporation Limited worth Rs. 55 Crores. The company, with a market capitalization of Rs. 7,647 Crores, is engaged in further discussions with BPCL and HPCL for potential collaborations. Notably, Time Technoplast Limited also secured final approval from PESO to manufacture and supply Type-IV Composite Cylinders for Hydrogen, making it the first Indian company to achieve this milestone.
Apart from this recent development, Time Technoplast Limited boasts a diverse portfolio serving various industry segments and holds a strong customer base that includes renowned names like Indian Oil, Tata Motors, and L&T. Financially, the company showcased growth in Revenue from Operations and profits in Q4FY24, alongside impressive return ratios and a low debt to equity ratio. With a presence in Asia and MENA regions, Time Technoplast Limited continues to strengthen its position as a key player in the manufacturing sector.