Time Technoplast Ltd

Time Technoplast Ltd is an India-based company, which is engaged in manufacturing of polymer & Composite products. The company has operations in local as well as in foreign countries. The company offers a range of technology based polymer products catering to the growing sectors of the Indian economy with Industrial and Consumer Packaging Solutions, Lifestyle Products, Auto Components, Healthcare Products and Construction / Infrastructure related products. Their product portfolio consists of packaging products including Drums / Containers, Pails, PET sheets, Entrance Matting, Turfs, Garden Furniture, Automotive Components, Auto Disabling Medical Disposables and Warning Nets. The company is having their manufacturing facilities located at Baddi in Himachal Pradesh, Pantnagar in Uttarakhand, Sahibabad in Uttar Pradesh, Mahad in Maharashtra, Hosur in Tamil Nadu, Daman & Diu and Silvassa. They are also having their manufacturing facilities in Sharjah. Time Technoplast Ltd was incorporated on December 20 1989 in the name Time Packaging Pvt Ltd and in the year 1992; the name was changed to Time Packaging Ltd. In the same year, the company started their operations as a small-scale industry with production facility at Tarapur in Maharashtra. In the year 1993, they made a technical collaboration with Mauser Group. In the year 1984, the company built a new production facility at Daman (UT) and started manufacturing of large size polymer drums. In the year 1995, they established their presence in South India through their production facility at Hosur in Tamil Nadu. In the year 1996, they started a plant at Baddi in Himachal Pradesh. They launched lifestyle products, namely Synthetic Turf & Matting under the brand 'Meadowz' and 'DuroTurf' in the year 1998 and in the next year, they launched Garden Furniture under the brand 'Regal'. In the year 1999, the company expanded their plant at Daman by adding production facility for packaging product. In the year 2000, they added new facility at Sahibabad for Garden furniture. In the year 2001, they set up an additional plant for PET sheets at Daman and also started production of plastic pails, namely conipails. In the year 2004, the company established a joint venture company with Mauser for manufacture of Intermediate Bulk Containers. In the year 2005, the company set up a 100% subsidiary, namely lan Incorporated FZE in Sharjah (UAE). In the year 2006, the company started additional manufacturing facility for production of large size plastic drums at Mahad. They launched Genex medical devices and lifestyle products, namely Durosoft during the year. They also set up a 100% subsidiary, namely Novo Tech Spzo.o. at Poland for manufacturing Auto Components and Lifestyle Products at Kostryzn Slubice Special Economic Zone. In the same year, the company entered into a MoU with Time Securities Services Pvt Ltd for acquisition of 49% stake in MHA, a joint venture with Mauser Group at Singapore. Also, they acquired 75% stake in TPL Plastech Ltd (formerly known as Tainwala Polycontainers Ltd). During the year, the group companies, namely Shalimar Packaging Pvt Ltd and Oxford Moulding Pvt Ltd merged with the company. During the year 2007-08, the company acquired 71.48% equity stake in NED Energy Ltd, a closely held company engaged in manufacture of high technology Valve Regulated Lead Acid (VRLA) batteries based at Hyderabad. Also, NED Energy Ltd acquired Gulf Powerbeat WLL (GPW), Kingdom of Bahrain, which has state-of-the art production facility at South Alba Industrial Area, Manama, Bahrain for manufacture of high quality long life batteries. In 2009, the company signed a MOU to acquire a Composite Cylinder Manufacturing Company in Czech Republic. In 2009, the Company entered into Joint Venture with M/s. Schoeller Arca Systems BV, (SAS) Netherlands to introduce a wide range of plastic Returnable Packaging (RTP) and material handling solutions. The joint venture will launch a broad range of small and large foldable containers, pallets, crates, etc. This will provide end to end material handling systems to sectors like retail, automotive, agriculture, beverages, processed food, apparels, Pharma, FMCG, consumer durables and logistics and help them reduce handling and transport costs. These products will provide long-term operational benefits, maximum efficiency and protection, optimum space utilization, create better logistics and supply chain. In 2010, the company announced launch of High Tech Composite Cylinders. The company signed a share purchase agreement to acquire Solutia Plastic business during the year under review. In 2012, the company receives ESMA approval for composite LPG cylinders. In 2013, the company was accorded the 'Best Innovative Technology supplier award by TATA Motors'. The company also launched composite cylinder during the year under review. In 2015, the company won most innovative plastic product design award litesafe composite Cylinders. During FY2018, the company successfully launched Double Walled Corrugated Pipes (DWC Pipes) with a capacity of 9,000 metric tonnes with a range of 100 mm to 1200 mm. It launched new generation multilayer pipes for power/communication cable ducts with silicone in lining. It also developed associated components to offer as a complete package. These technology driven innovative products conform to international standards and are used for high performance applications. Such pipes/ ducts are being introduced for the first time in the country and have substantial business potential. The Brownfield expansion in Malaysia, Sharjah & Vietnam has been completed and now all the nine overseas locations have IBC manufacturing facilities. The total capacity of IBCs globally has gone up to 960,000 units in nine countries including India. In Composite Cylinders, the company expended its capacity from 700,000 units to 1,400,000 units to further improve manufacturing efficiency and optimize production capacity. Besides, HPCL made a soft launch of Litesafe cylinders in Mumbai, Pune and Ahmedabad. In FY 2018, the MOX film (Multi layer Multi axis Oriented Cross Laminated Film) launched last year under the brand 'Techpaulin' has taken off and has been received well in the market. The company enhanced its MOX film capacity from 6,000 Mt to 12,000 Mt. to further improve manufacturing efficiency and optimize production capacity The capital expenditure incurred for the FY 2018 was Rs 2416 million, where regular and maintenance capital expenditure was Rs 1189 million and capex for value added products was Rs 1227 million. The company's subsidiary TPL Plastech Ltd. has set up a green-field manufacturing facility for industrial Packaging products at Vizag (A.P.). In addition, it increased polymer-processing capacity by 24,000 Mt at various existing locations in FY 2018. The capital expenditure incurred for the FY 2019 was Rs 2297 million, where established products for capacity expansion, re-engineering and automation was Rs 1,713 million and capex for value added products was Rs 584 million. During FY19, the Company completed Greenfield expansion of manufacturing of Intermediate Bulk containers (IBC) in Chicago and Silvassa. In addition to the above, the company has increased its polymer processing capacity by 40,000 Mt at various existing locations. During FY19, in the pipes front the company now launched a new generation multilayer pipes for power/communication cable ducts with silicone in lining and started supplying it. These technology driven innovative products conform to international standards and are used for high performance applications. Such pipes/ ducts are being introduced for the first time in the country and have substantial business potential especially in Smart Cities. The company has added DURO Gel, Duro Comfort, Duro Carpet and Duro Mat under Mats and Turf segments of the company. Read More