Time Technoplast’s Q1 margin trails Industrials peer median
The 13.25% operating margin was 1.25 percentage points below the 52-peer median, while management targets 15% annual volume growth.
Filed 05 Aug 2026, 20:33 IST · after market close · Time Technoplast Ltd (TIMETECHNO)
Key takeaways
- Consolidated Q1FY27 net profit of Rs 117.86 cr was primarily operational, with operating profit at Rs 224.35 cr and other income at only Rs 1.09 cr.
- Operating margin of 13.25% was 1.25 percentage points below the 14.5% median for 52 reported Industrials peers.
- Management said it targets 15% annual consolidated volume growth, with composites targeted at 25–30% and PE pipes at 20–25%.
Price around the results
Q1FY27 earnings were operationally driven
Time Technoplast reported consolidated Q1FY27 revenue of Rs 1,692.71 cr and net profit of Rs 117.86 cr. Other income of Rs 1.09 cr was a limited contributor to profit before tax of Rs 157.57 cr, leaving operating performance as the main earnings driver.
Operating margin remained below the Industrials peer median
The 13.25% operating margin was 1.25 percentage points below the 14.5% median among 52 Industrials companies that had reported the same quarter. With no sequential or year-on-year comparison in the results data, the quarter’s margin level can be benchmarked against peers but not assigned a specific cost or revenue-growth cause.
Management links growth to volumes and product mix
Management said it targets 15% annual consolidated volume growth, while revenue growth may vary with polymer input prices. It gave product-level volume targets of 11–13% for packaging, 25–30% for composites, 20–25% for PE pipes and 10–12% for other products.
New orders and expansion provide execution markers
The company said it secured an HPCL order for 140,000 composite LPG cylinders worth approximately Rs 38 cr and began supplies for the HPCL-Swiggy Instamart pilot in Bengaluru. Management also said the 76% acquisition of Systoverse includes projected investment of about Rs 25 cr for plant upgrades, modernisation and capacity expansion.
No post-result market reaction is available yet
The consolidated results were filed after market close on 05 Aug 2026. There is therefore no market reaction to assess against the stock’s past post-result moves.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹1,693 cr |
| Other income | ₹1 cr |
| Expenses | ₹1,468 cr |
| Operating profit | ₹224 cr |
| Operating margin (%) | 13.25% |
| Interest | ₹17 cr |
| Depreciation | ₹51 cr |
| Profit before tax | ₹158 cr |
| Tax | ₹40 cr |
| Net profit | ₹118 cr |
| EPS (₹) | ₹2.35 |
Operating margin of 13.25% compares with a Industrials sector median of 14.50% across 52 peers that have reported Q1FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- The company commenced supplies of lightweight Type IV composite LPG cylinders for the HPCL-Swiggy Instamart pilot in Bengaluru.
Guidance & outlook
- The company targets annual volume growth of 15% on a consolidated basis, while revenue growth may vary with polymer input prices.
- The company targets 11–13% volume growth in packaging products, 25–30% in composites, 20–25% in PE pipes and 10–12% in other products.
Expansion
- The company acquired a 76% stake in Systoverse Private Limited, with projected investment of about ₹25 crore including plant upgrades and capacity expansion.
- FY27 projects include packaging and PE pipe facilities in Sanand, Cuttack and Chiplun, polymer recycling in North and South India, and packaging expansion in Saudi Arabia.
New orders
- The company secured an HPCL order for 140,000 units of 10 kg composite LPG cylinders valued at approximately ₹38 crore.
New initiatives
- The company is consolidating moulds and machinery into a centralised, high-efficiency production system to reduce costs and improve asset utilisation.
- The board has recommended pursuing joint ventures or tie-ups with private gas distributors to establish an independent LPG distribution network.
Problems & risks
- Revenue growth may differ from volume growth because polymer is a derivative of oil and gas and depends on key input prices.
What to watch
- Whether operating margin moves closer to the 14.5% Industrials peer median.
- Whether consolidated volume growth tracks the company’s 15% annual target.
- Execution of the 140,000-unit HPCL order valued at approximately Rs 38 cr.