Time Technoplast Ltd to expand capacity to manufacture CNG Cascades

In FY 2022, Time Technoplast Ltd had a manufacturing capacity of 180 CNG Cascades (10,800 cylinders) annually. In order to meet growing demand for Type - IV Composite Cylinders for CNG Cascades, Management is undertaking capex in a phased manner:

Phase - I (FY 2022-23)

The Company is increasing the manufacturing capacity by 300 cascades (18,000 cylinders) in FY 2023 with a capital outlay of INR 55 Crores. With the above expansion, the total cascade manufacturing capacity will increase from 180 to 480 cascades (28,800 cylinders) by March 2023.

Phase - II (FY 2023-24)

Under Phase-II, Management has already undertaken expansion program to increase the capacity by further 600 cascades (36,000 cylinders) and the same will be completed in Q4 FY 2024 with an outflow of INR 125 Crores. Total cascade manufacturing capacity after completion of Phase-II will be 1,080 cascades (64,800 cylinders) per year from March 2024.

Shares of Time Technoplast Limited was last trading in BSE at Rs. 85.70 as compared to the previous close of Rs. 83.95. The total number of shares traded during the day was 98477 in over 1452 trades.

The stock hit an intraday high of Rs. 87.40 and intraday low of 84.30. The net turnover during the day was Rs. 8468081.00.

Source : Equity Bulls

Keywords

TimeTechnoplast INE508G01029 Capex ExpansionProject CapacityExpansion CNGCascades