This article first appeared on GuruFocus .
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Revenue (Q3 FY26):INR 1,567 crores, up from INR 1,389 crores in the previous year.
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EBITDA (Q3 FY26):INR 236 crores, up from INR 202 crores.
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Profit After Tax (Q3 FY26):INR 126 crores, up from INR 101 crores.
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Revenue Growth (Nine Months FY26):11% increase to INR 4,433 crores from INR 3,092 crores.
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EBITDA (Nine Months FY26):INR 655 crores, up from INR 575 crores.
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Profit After Tax (Nine Months FY26):INR 337 crores, up from INR 278 crores.
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Volume Growth (Nine Months FY26):15% increase.
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Debt Reduction:Total debt reduced by INR 380 crores to INR 266 crores.
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Net Cash from Operating Activities (Nine Months FY26):INR 332 crores.
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CapEx (Nine Months FY26):INR 177 crores, including INR 80 crores for regular maintenance.
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EBITDA Margin:India 15%, Overseas 14.5%.
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Composite Volume Growth:21% increase.
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Order Book for Type-IV Composite Cylinder:INR 165 crores.
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Industrial Packaging Order Pipeline:Over INR 400 crores.
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Value-Added Product Sales Share:30% of total sales, up from 27%.
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Return on Capital Employed (ROCE):18.6% for nine months, targeting 20% by year-end.
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Warning! GuruFocus has detected 2 Warning Signs with NSE:BLUEJET.
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Release Date: February 13, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
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Time Technoplast Ltd ( BOM:532856 ) reported a 15% volume growth and an 11% increase in revenue for the nine months ended FY26.
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The CNG Composite Cascade segment experienced a robust 23% growth, significantly contributing to overall performance.
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Profit after tax rose by 21% year-on-year, highlighting effective capacity utilization and disciplined financial management.
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The company has a healthy order book of INR165 crores for Type-IV Composite Cylinders, indicating strong demand.
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Time Technoplast Ltd ( BOM:532856 ) reduced its total debt by INR380 crores in nine months, with a clear visibility to become debt-free in the next six months.
Negative Points
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The revenue growth was partially offset by a decrease in raw material costs, affecting the overall revenue increase.
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Despite strong performance, the company faces challenges in achieving higher margins due to competitive pricing pressures.
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The transition to solar power is limited by availability in certain regions, potentially delaying cost savings.
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The companys expansion plans, including automation and new product lines, require significant capital investment, which may impact short-term cash flow.
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There is a risk of increased competition in the Composite products segment, which could affect future profitability.
Q & A Highlights
Q: With the expansion of Composite product capacity by Q4 FY26, what contribution can be expected from value-added products over the next two years? A: Bharat Vageria, CFO and Managing Director, stated that the current contribution from value-added products is 27%, and they aim to increase this to 35% in two years. The margin for Composite products is between 17% to 18%, higher than standard products.
Q: What cost benefits can be expected from automation and reengineering efforts in FY27? A: Bharat Vageria explained that automation investments of INR75 crores will yield a payback period of four years, resulting in an annual EBITDA margin increase of INR20 crores due to manpower cost savings.
Q: How viable is the recycling project compared to the existing business? A: The recycling project, managed by Time Ecotech, is expected to achieve an ROCE of over 20%. The project will not require price reductions from customers, maintaining a 15% EBITDA margin.
Q: What is the status and growth potential of the flexible IBC project? A: The flexible IBC project is under due diligence, with a potential business of INR250 crores annually. The final decision will be made by March 2026, with the project expected to grow by 25% to 30%.
Q: What is the timeline for becoming debt-free, and what will be the impact on interest costs? A: Bharat Vageria confirmed that the company aims to be debt-free within six months. The interest cost will reduce to INR25 crores to INR30 crores, primarily for non-fund facilities and documentation charges.
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
