Company Update : Time Technoplast Ltd by Motilal Oswal Financial Services Ltd
Healthy quarter, in line with our est.
* Volume/Revenue/EBITDA/PAT grew 16%/13%/16%/25% YoY (1-4% above our estimates).
* EBITDA margin at 14.9% expanded 46bp YoY (vs. our est. of 14.8%).
* Volume growth of 16% was led by a 17% rise in the overseas business, whereas India grew 15%.
* For nine months, the company’s revenue/EBITDA/PAT rose 11%/14%/21% YoY; EBITDA margin stood at 14.7% (up 38bp YoY).
* CFO in 9MFY26 stood healthy at INR3.3b.
* Capex stood at INR1.8b in 9MFY26.
* Continued to divest non-core assets (INR370m pending out of INR1.25b).
* Out of INR8b QIP proceeds, INR3.2b was utilized to repay debt.
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