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Hold Time Technoplast; target of Rs 70: ICICI Direct


ICICI Direct recommended hold rating on Time Technoplast with a target price of Rs 70 in its research report dated August 16, 2019.

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ICICI Direct's research report on Time Technoplast

Time Technoplast reported ~11% YoY growth in Q1FY20 revenue (I-direct estimate: 13%) supported by moderate growth of 10% in the plastic business (contributes ~71% in topline). The value added product category (contributes ~21% in topline) grew ~14% YoY led by ~21% growth in the revenue of composite cylinder. Despite a strong order book (of Rs 350 crore), the piping business faced challenges due to slowdown ...


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