8 hrs ago
Motilal Oswal sees up to 54% upside in Time Technoplast
Motilal Oswal, a brokerage, believes Time Technoplast’s stock could rise significantly.
It kept a Buy rating and gave the stock a target price of Rs 280.
The company grew its sales and profits during a difficult year.
Its business customers allow it to adjust prices when raw-material costs change.
The company expects its product volumes to grow by 13-15% over the medium term.
A possible merger with TPL Plastech could make the business more efficient.
A new automated plant in Gujarat may also add capacity.
The brokerage says the company’s growth plans are promising, but its stock price and results are not guaranteed.
Motilal Oswal retained its Buy rating on Time Technoplast and set a target price of Rs 280 per share.
The target implies approximately 54% upside from the stock’s current market price, according to the brokerage.
Time Technoplast’s FY26 revenue, EBITDA and PAT rose about 12%, 14% and 21%, respectively.
The company is targeting medium-term volume growth of 13-15%, supported by a subsidiary merger and a new Gujarat plant.
Motilal Oswal expects revenue, EBITDA and PAT to grow at CAGRs of 17%, 16% and 21% between FY26 and FY28.
- Who
- Motilal Oswal and Time Technoplast.
- What
- Motilal Oswal retained its Buy rating and set a Rs 280 target price for Time Technoplast.
- Where
- The company’s new greenfield facility is at Bhilad in Gujarat.
- When
- The assessment covers FY26, the first quarter of FY27, and forecasts through FY28.
- Why
- The brokerage cited continued growth, pricing mechanisms that help pass on input-cost changes, expected volume growth, a potential subsidiary merger and new manufacturing capacity.
Key facts
- Brokerage rating
- Buy, retained by Motilal Oswal
- Target price
- Rs 280 per share
- Implied upside
- Approximately 54% from the current market price
- FY26 performance
- Revenue rose 12%, EBITDA 14% and PAT 21% year-on-year
- Medium-term volume guidance
- 13-15% growth
- New plant
- Automated Bhilad facility with potential revenue capacity of Rs 100 crore
- FY26-FY28 growth forecast
- Revenue, EBITDA and PAT CAGRs of 17%, 16% and 21%, respectively
Quotes
Motilal Oswal
Domestic brokerage house covering Time Technoplast.
“FY26 turned out to be the most successful year in company’s history.”
financialexpress.com
“Business well on track for 13-15% volume growth, as guided”
financialexpress.com
Sources
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