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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹1,565 Cr
verified against source
Revenue YoY
13%
reported change
EBITDA
₹236 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Time Technoplast delivered a solid Q3 FY26 with revenue of ₹1,567 crore (+13% YoY) and PAT of ₹126 crore (+25% YoY), driven by 15% volume growth and a rising share of value-added products (30% of sales vs 27% last year). The composite segment grew 23%, supported by a healthy order book of ₹165 crore for Type-4 cylinders. Management reiterated a 15% revenue growth trajectory and guided for ROCE improvement to 20% in FY26 (9M: 18.6%). Key margin drivers include automation (₹75 crore capex), solar power savings (~₹10 crore annualized from FY27), and debt reduction to near-zero in 6 months, cutting finance costs from ~₹90 crore to ₹25-30 crore. Risks include potential raw material volatility and slower-than-expected ramp-up of new composite capacity.
Colored figures show movement against the previous available record.
Guidance to track
- Management targets 20% ROCE for the full year, up from 18.6% in 9M, driven by margin expansion and debt reduction.
- Total debt reduced to ₹266 crore; management expects to become debt-free within 6 months, cutting finance costs to ₹25-30 crore annually.
- Company projects consolidated revenue growth above 15% for the next 2-3 years, driven by packaging (11-13%) and composite (25-30%) segments.
- Gujarat solar power benefit started in February; annual savings of ~₹10 crore expected from next fiscal, with investment payback in one year.
Risks flagged
- Polymer prices have declined, but any reversal could pressure margins. Management noted lower raw material costs impacted revenue growth vs volume.
- The new composite plant in Daman is commissioning in March 2026; any delay in commercialization could affect FY27 revenue targets.
- The proposed acquisition of Vibrant Packaging (₹250 crore revenue) is under due diligence; integration challenges or deal failure could impact growth plans.
Key quotes
- We have a clear visibility to have a complete debt free in the next 6 months time.
- Our target is to reach 20% ROCE this year. Already in the 9 months it is 18.6%.
- If I tell you anything margin over and above the 18 or 20% EBITDA margin, you are inviting your competitors.
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