Plastic manufacturing stock jumps after securing ₹190 Cr EPC deal in Andhra Pradesh

Synopsis: A small-cap stock gained after bagging a major EPC order in Andhra Pradesh. Here’s what drove the investor interest.

A pipe manufacturing stock came into focus after announcing a project win in the infrastructure segment. The order reinforced optimism around India’s growing demand for polymer-based piping solutions amid the government’s push for smart city and utility expansion projects.

Time Technoplast Limited, with a market capitalization of Rs. 9,508.33 crore, opened at Rs. 211.35 and hit an intraday high of Rs. 211.95 against a previous close of Rs. 208.10, marking an increase of around 1.85 percent.

What’s the News?

The company announced that it has received an order worth approximately Rs. 190 crore from an EPC (Engineering, Procurement, and Construction) contractor for the supply of HDPE (High-Density Polyethylene) pipe products to two major Power Duct application projects in Andhra Pradesh, Amaravathi Development Corporation Limited and Andhra Pradesh Capital Region Development Authority. With this new win, the cumulative order book for the company’s HDPE Pipe segment has reached around Rs. 280 crore.

Time Technoplast’s installed manufacturing capacity allows it to produce HDPE pipe products worth nearly Rs. 450 crore annually. These products are voluminous in nature, leading the company to establish four manufacturing units across India. One in Silvassa (Western region), two in the Southern region at Gummidipoondi near Chennai and Medchal near Hyderabad, and one in Amta near Kolkata in the Eastern region.

In FY25, revenue from the HDPE pipe products segment stood at around Rs. 283 crore. The company expects India’s pipe market to expand at a compounded annual growth rate (CAGR) of over 20 percent, driven by government-led infrastructure and smart city initiatives. This positions the firm to capture strong growth opportunities in the coming years.

Financial Snapshot – Q1FY26

On a quarter-on-quarter basis, the company’s revenue declined 7.9 percent, from Rs. 1,469 crore in Q4FY25 to Rs. 1,353 crore in Q1FY26. Operating profit fell 8.9 percent from Rs. 214 crore to Rs. 195 crore, while profit before tax dropped 14 percent from Rs. 150 crore to Rs. 129 crore. Net profit stood at Rs. 97 crore, down 13.4 percent from Rs. 112 crore in the preceding quarter.

Year-on-year, the company reported an increase of 10 percent in sales from Rs. 1,230 crore to Rs. 1,353 crore. Operating profit rose 12 percent from Rs. 174 crore to Rs. 195 crore, while profit before tax increased 17 percent from Rs. 110 crore to Rs. 129 crore. Net profit grew 21 percent, reaching Rs. 97 crore compared to Rs. 80 crore in the same quarter last year.

About the Company

Time Technoplast Limited, incorporated in 1989 and headquartered in Mumbai, manufactures and sells a diverse range of polymer and composite products in India. The company operates under two main segments, Polymer and Composite. Its product portfolio includes industrial packaging solutions under the TECHPACK brand, HDPE pipes under Max’M, VRLA batteries under MaxLife, and turf, matting, and lifestyle products under brands such as Duro Turf, Meadowz, and Regal. It also supplies auto components under Tech DAT and TechTank, and composite cylinders under the LiteSafe and NEX-G brands. The company serves industries including chemicals, FMCG, railways, solar, and infrastructure.

-Manan Gangwar 

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