Time Technoplast gets ‘accumulate’

Time Technoplast has 20 production sites across India and all of these facilities are within 250 km radius from client. The company has a 70 per cent market share in India in plastic drums. The management reflected optimism in the demand scenario on account of the ongoing shift in manufacturing of chemicals from developed countries to India. The management’s strategy is to identify potential replacement of metal products with polymer ones, given the significant cost and durability advantages. It has started with offering a polymerbased alternative to metal drums followed by metal cylinders and pipes. It is now eyeing the auto component space for its polymer products. The company’s overseas business, which accounts for 30 per cent of sales is growing at a robust pace of 20 per cent. Moreover, the company claims to have a market leadership in most of its overseas geographies.

Broking firm: Kotak Securities Rating: Accumulate Closing price: `193.75

The slowdown in India’s growth is an ‘aberration’ and due to a temporary disruption — Jim Yong Kim, World Bank president