TIMETECHNONSE10 November 2023

Time Technoplast Limited has informed the Exchange about Investor Presentation

Time Technoplast Limited

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TIME

November 10, 2023

To,

National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor, Plot No. C-1, Block G,

Bandra — Kurla Complex, Bandra (East), Mumbai — 400 051 Symbol: TIMETECHNO

Dear Sir/Madam,

Sub.: Earnings Presentation

BSE Limited 1st Floor, New Trading Ring, Rotunda Building,

P.J. Towers, Dalal Street, Fort, Mumbai — 400 001 Scrip Code: 532856

We enclose herewith a copy of the ‘Earnings Presentation’ in respect of the Unaudited (Consolidated & Standalone) Financial Results declared for the Quarter and Half Year ended September 30, 2023.

The

Earnings

Presentation

also

being

hosted

the Company’s website

www.timetechnoplast.com

This is for your information and'records.

Thanking You,

Yours Faithfully, For TIME TECHNOPLAST LIMITED

BHARAT KUMAR VAGERIA MANAGING DIRECTOR

DIN: 00183629

TIME TECHNOPLAST LTD. Bringing Polymers To Life CIN : L27203DD1989PLC003240 Regd. Office : 101, 1st Floor, Centre Point, Somnath Daman Road, Somnath, Dabhel, Nani Daman, Daman - 396210

Corp. Off. : 55, Corporate Avenue, 2nd Floor, Saki Vihar Road, Andheri (East), Mumbai - 400 072 INDIA Tel. : 91-22-7111 9999 Fax : 91-22-2857 5672 E-mail : tti@timetechnoplast.com Website : www.timetechnoplast.com Bangalore : (080) 26608056/61 Baddi : 9816720202/9816700202/9816820202 Chennai (044) 4501 0019/29 Delhi : (0120) 4326144/4284946 Hyderabad : 9849019428 Kolkata : (033) 46037097/98

B S E : 5 3 2 8 5 6 | N S E : T I M E T E C H N O | I S I N : I N E 5 0 8 G 0 1 0 2 9 | C I N : L 2 7 2 0 3 D D 1 9 8 9 P L C 0 0 3 2 4 0

Earnings Presentation H1 / Q2 FY 2024

M A N A G E M E N T

C O M M E N TA R Y

“We are pleased to report healthy growth in topline and margin in H1FY24 driven by good demand. In the first half of fiscal 2024, on a year-on-year (Y-o-Y) basis, volume grew by 18% and revenues grew by 16% driven by good demand for Intermediate Bulk Containers (IBCs) and robust growth in CNG Composite Cylinder business (111%). Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) and Profit after Tax (PAT) also witnessed a significant growth of 22% and 34% respectively, driven by increased share of value-added products. We continue to focus on increasing revenue share of Value-Added Products which is now 25% of total revenue in the first half of fiscal 24 as compared to 23% in the corresponding period last year. With strong growth in our Value-Added products, we are highly optimistic of a strong performance for the full year.”

Mr. Bharat Kumar Vageria Managing Director

Table Of Content

Financial Highlights

Company Overview

Appendix

Financial Highlights

Q2FY24 Financial Snapshot

Total Income (₹ Mn)

EBITDA (₹ Mn) and Margin (%)

Particulars

India

Overseas

16.6% YoY Growth

10.6% QoQ Growth

24.9% YoY Growth

12.7% QoQ Growth

Volume Growth (18% YoY)

10,244

10,803

11,945

Revenue Contribution

13.1%

13.7%

14.0%

Revenue Growth (17% YoY)

19%

18%

66%

14%

13%

34%

1,338

1,482

1,671

EBITDA Margin

14.2%

13.5%

Q2FY23

Q1FY24

Q2FY24

Q2FY23

Q1FY24

Q2FY24

Cash Profit Margin

PAT Margin

5.5%

9.6%

6.7%

10.0%

PAT (₹ Mn)

Cash Profit (₹ Mn)

41.3% YoY Growth

25.5% QoQ Growth

27.0% YoY Growth

14.3% QoQ Growth

498

561

704

924

1,026

1,173

▪ Value added products grew by 32% in Q2FY24 as compared to

Q2FY23, while established products grew by 12%. The

company’s focus remains to increase the share of value added

products in its revenue, improve margins and ROCE.

Q2FY23

Q1FY24

Q2FY24

Q2FY23

Q1FY24

Q2FY24

Segmental Performance

Polymer Products*

Composite Products**

Revenue (₹ Mn)

EBITDA Margins (%)

Revenue (₹ Mn)

EBITDA Margins (%)

12.7%

6,743

13.6%

7,680

15,000

12,000

9,000

6,000

3,000

14%

YoY

Revenue Share 64%

18.00%

0.00%

10,000

9,000

8,000

7,000

6,000

5,000

4,000

3,000

2,000

1,000

13.8%

3,497

14.8%

4,262

22%

YoY

Revenue Share 36%

18.00%

0.00%

Q2FY23

Q2FY24

Q2FY23

Q2FY24

*Polymer Products: HM-HDPE plastic Drums/Jerry Cans and Pails, Polyethylene (PE) pipes, Turf & Mattings, Disposable Bins and MOX Films

**Composite Products: Intermediate Bulk Containers (IBC), Composite Cylinders (LPG & CNG), Energy storage devices, Auto Products and Steel Drums.

Established Products and Value Added Products

Established Products*

Value Added Products**

Revenue (₹ Mn)

EBITDA Margins (%)

Revenue (₹ Mn)

EBITDA Margins (%)

11.8%

7,789

12.7%

8,716

15,000

12,000

9,000

6,000

3,000

10,000

9,000

8,000

7,000

6,000

5,000

4,000

3,000

2,000

1,000

12%

YoY

Revenue Share 73%

0.00%

17.0%

17.6%

2,455

3,229

18.00%

32%

YoY

Revenue Share 27%

0.00%

Q2FY23

Q2FY24

Q2FY23

Q2FY24

*Established Products- HM-HDPE plastic Drums/Jerry Cans and Pails, Polyethylene (PE) pipes, Turf & Mattings, Disposable Bins, Energy storage devices, Auto Products and Steel Drums.

**Value Added Products- Intermediate Bulk Containers (IBC), Composite Cylinders (LPG & CNG) and MOX Films.

H1FY24 Financial Snapshot

Total Income (₹ Mn)

EBITDA (₹ Mn) and Margin (%)

15.5% YoY Growth

22,748

19,695

22.2% YoY Growth

13.9%

3,153

13.1%

2,580

Particulars

India

Overseas

Volume Growth (18% YoY)

Revenue Growth (16% YoY)

Revenue Contribution

19%

17%

65%

15%

13%

35%

EBITDA Margin

14.1%

13.4%

H1FY23

H1FY24

H1FY23

H1FY24

Cash Profit Margin

PAT Margin

5.0%

9.4%

6.5%

10.0%

PAT (₹ Mn)

34.3% YoY Growth

Cash Profit (₹ Mn)

23.2% YoY Growth

942

1,265

1,783

2,197

▪ Total Debt reduced by ₹ 340 Mn in 6MFY24 from year ended

FY23.

▪ Value added products grew by 28% in 6MFY24 as compared to

6MFY23, while established products grew by 12%. The

company’s focus remains to increase the share of value added

products in its revenue, improve margins and ROCE.

H1FY23

H1FY24

H1FY23

H1FY24

Segmental Performance

Polymer Products*

Composite Products**

Revenue (₹ Mn)

EBITDA Margins (%)

Revenue (₹ Mn)

EBITDA Margins (%)

12.8%

13,066

13.4%

14,815

24,000

21,000

18,000

15,000

12,000

9,000

6,000

3,000

13.8%

14.7%

7,920

6,619

15,000

14,000

13,000

12,000

11,000

10,000

9,000

8,000

7,000

6,000

5,000

4,000

3,000

2,000

1,000

13%

YoY

Revenue Share 65%

0.00%

20%

YoY

Revenue Share 35%

0.00%

H1FY23

H1FY24

H1FY23

H1FY24

*Polymer Products: HM-HDPE plastic Drums/Jerry Cans and Pails, Polyethylene (PE) pipes, Turf & Mattings, Disposable Bins and MOX Films

**Composite Products: Intermediate Bulk Containers (IBC), Composite Cylinders (LPG & CNG), Energy storage devices, Auto Products and Steel Drums.

Strategic Direction towards Value Added Products

Established Products*

Value Added Products**

Revenue (₹ Mn)

EBITDA Margins (%)

Revenue (₹ Mn)

EBITDA Margins (%)

12.0%

15,158

12.7%

16,949

27,000

24,000

21,000

18,000

15,000

12,000

9,000

6,000

3,000

15,000

14,000

13,000

12,000

11,000

10,000

9,000

8,000

7,000

6,000

5,000

4,000

3,000

2,000

1,000

12%

YoY

Revenue Share 75%

0.00%

16.9%

17.3%

18.00%

5,799

4,537

28%

YoY

Revenue Share 25%

0.00%

H1FY23

H1FY24

H1FY23

H1FY24

*Established Products- HM-HDPE plastic Drums/Jerry Cans and Pails, Polyethylene (PE) pipes, Turf & Mattings, Disposable Bins, Energy storage devices, Auto Products and Steel Drums. **Value Added Products- Intermediate Bulk Containers (IBC), Composite Cylinders (LPG & CNG) and MOX Films.

Product Segment Wise Value and Volume Numbers

Particulars

TURNOVER

REGULAR BUSINESS

Packaging (Excl. IBC Business ), Lifestyle , Auto , Batteries Business etc.

PE Pipes

Sub - Total

VALUE ADDED PRODUCTS

IBC Business

Composite Cylinders (LPG and CNG)*

MOX Film

Sub - Total

Total

Value

Volume

H1FY24

H1FY23

YoY Growth

(₹ Mn)

Unit

H1FY24

H1FY23

YoY Growth

15,816

1,133

16,949

2,730

2,227

842

5,799

14,180

977

15,158

2,348

1,444

745

4,537

11.5%

15.9%

11.8%

16.3%

54.2%

13.1%

27.8%

M.T.

Nos.

M.T.

22,748

19,695

15.5%

127,358

110,712

9,978

8,310

137,336

119,022

15.4%

331,745

468,487

3,502

276,840

420,368

3,042

27.5%

17.6%

*Includes business from CNG cylinders of Rs. 1,297 Mn (P.Y. Rs. 615 Mn); CNG Cylinder business growth of 111.0%

H1FY24 Highlights

Total capex in H1FY24 towards brownfield expansion, maintenance, re-engineering and automation

Established Products

Value Added Products (mainly towards IBC and CNG expansion)

▪ Capacity utilization: Overall 80%

▪ Continued focus on improving Working Capital cycle time

Industrial Packaging

₹ 991 Mn.

₹ 397 Mn.

₹ 594 Mn.

▪ Utilisation picking up at the newly commenced greenfield project in Dahej, Gujarat in TPL Plastech Ltd (75% subsidiary), for manufacturing of IBC

Intermediate Bulk Containers (IBCs) along with other industrial packaging products mainly large size polymer drums (200 litres and above).

▪ USA business slightly impacted due to weak US economy, however mitigated by good growth and performance in the MENA and SEA region.

▪ Brownfield expansion in India and overseas locations to continue for future growth and leveraging of existing infrastructures

Pipes

▪ Segment showing signs of improvement with good inflow of new orders as the government authorities are releasing funds to EPC contractors for ongoing

projects.

▪ Healthy order book position of ₹ 2.0 billion, to be executed in balance period of FY 2023-2024.

▪ The pipes/ducts have substantial business potential specially in government projects like Smart Cities, Jal Jeevan Mission and Swachh Bharat Mission

H1FY24 Highlights

Composite Cylinder- LPG application

▪ Supplies ongoing for additional 7.5 lakh Type-IV LPG Composite cylinders order received from Indian Oil Corporation Limited (IOCL).

▪ Good potential in period ahead on account of the Pradhan Mantri Ujjwala Yojana of the Government of India

▪ Continued good response from overseas customers and addition of new customers in newer geographies The Company currently has approvals in over 50

countries and is exporting Composite Cylinders to over 42 nations.

Composite Cylinder- CNG application (Cascades)

▪ During the previous year, Company enhanced its annual CNG cascade manufacturing capacity by 300 cascades (18,000 cylinders) under Phase I expansion

leading to total annual cascade manufacturing capacity of 480 cascades (28,800 cylinders).

▪ Company receiving over whelming with current order book position of around 2.25 billion, to be executed in next 6-8 months.

▪ Furthermore, due to overwhelming response and existing enhanced capacity sold out completely, the Company has undertaken Phase Il expansion plan for

increasing the manufacturing capacity by 600 nos cascades per annum, leading to a total manufacturing capacity of 1,080 nos cascades per annum.

▪ Further, under this Phase ll expansion, Company can utilise the facility to manufacture cylinders both for CNG and Green Hydrogen and also to meet the

demand of automotive sector.

H1FY24 Highlights

Composite Cylinder- CNG application (on-board)

▪ Company in discussion with OEMs for supply of Fully Wrapped Carbon Fibre Reinforced Type-IV Composite Cylinder for On Board (vehicle) applications.

▪ Besides the OEMs, who have explicitly expressed their preference for Type-IV cylinders vis-à-vis Type-I (steel cylinders), the Company is also going to

target the secondary market in the Automobile industry

Composite Cylinder- Oxygen application

▪ During the quarter, the Company has finally received approval from PESO for manufacturing of Carbon Fibre Reinforced Composite Cylinder (Type-III) for

Medical Oxygen and Breathing air.

▪ Our Company is the first and only Company in India to receive such approval.

▪ These Cylinders are used by fire fighters, mountain climbers, portable home oxygen bottles, mobile ambulance & Hospitals, Defence sector and for under

water activities.

▪ The Company has currently developed a 6.8 Litre water capacity cylinder which is the most popular size in this segment.

Consolidation cum Restructuring of Overseas business

▪ The Company is in advanced stages of discussion for 2 out of 3 geographies for the said consolidation cum restructuring of overseas business and

estimating to complete the transaction including receipt of proceeds in FY 2023-2024.

▪ The proceeds received will be used for Repayment of Debt, Capex for Composite Cylinders (LPG/CNG/Hydrogen) & Core Business in India to meet huge

market demand and will also be used to benefit the shareholders.

Company Overview

Time Technoplast

Leading Global

Industrial

Packaging Company

Time Technoplast Limited (Time Tech) is a multinational company and one of the leading

manufacturer of technology-based polymer and composite products

Strong presence in Asia & MENA regions with presence in 10 different countries outside India

Has 14+ recognized brands and works with >900 institutional customers globally.

Some of the Marquee clients include BASF, Huntsman, Bayer, Du Pont, Indian Oil, Gulf,

ExxonMobil, Total, Ashok Leyland, Tata Motors, Cargill, GE, L&T etc.

Well established inhouse R&D team of around 30 people having experience of more than 15 years for upgrading existing and developing futuristic products by using latest processing

technology

Innovative and Tech Oriented Products

Industrial Packaging

Infrastructure

Auto Components

Drums & Containers

Jerry Cans

Conipack Pails

HDPE Pipes

Energy Storage Devices

Focus on Innovative & Tech

oriented polymer products

and have several firsts to our

credit-

▪ 1st to launch PE drums

to replace steel

Composite IBCs

Composite Cylinders (LPG, CNG and Oxygen)

MOX Films

▪ 1st to launch Tubular

Gel Batteries

DEF (Urea) Tanks

Composite Air Tank

Hydraulic Oil Tank

▪ 1st to launch Anti-Spray

Rain Flaps

▪ 1st Plastic Fuel tanks in CVs

▪ 1st to launch IBC

and more…

▪ 1st to launch Composite

Gas cylinders

r e m y l o P e v i t a v o n n I

s t c u d o r P

d e d d A e u l a V

s t c u d o r P

h c e T - i H

s t c u d o r P

Appendix

Consolidated Income Statement

Particulars (₹ Mn)

Total Income

Total Expenses

EBITDA

EBITDA Margin (%)

Finance Cost (Net)

Depreciation

PBT

Tax

PAT before Minority Interest

Minority Interest

PAT after Minority Interest

PAT Margins (%)

EPS (₹)

Q2FY24

11,945

10,274

1,671

14.0%

255

457

959

244

715

704

5.9%

3.11

Q2FY23

10,244

8,906

1,338

13.1%

240

417

681

174

507

498

4.9%

2.20

H1FY24

22,748

19,595

3,153

13.9%

519

913

1,721

436

1,285

1,265

5.6%

5.59

H1FY23

19,695

17,115

2,580

13.1%

471

824

1,285

326

959

942

4.8%

4.17

FY23

42,932

37,123

5,809

13.5%

1,052

1,709

3,048

810

2,238

2,191

5.1%

9.69

Consolidated Balance Sheet

Particulars (₹ Mn)

Equity & Liabilities

Shareholder's Funds

Share Capital

Other Equity

Total Shareholder's Fund

Minority Interest

Non-Current Liabilities

Long-Term Borrowings

Lease Liabilities

Deferred Tax Liabilities (Net)

Total Non Current Liabilities

Current Liabilities

Short-Term Borrowings

Trade Payables

Lease Liabilities

Other Financial Liabilities

Other Current Liabilities

Short-Term Provisions

Current Tax Liabilities

Total Current Liabilities

TOTAL - EQUITY AND LIABILITIES

H1FY24

FY23 Particulars (₹ Mn)

H1FY24

FY23

ASSETS

226

22,467

22,693 Non-Current Assets

582 Fixed Assets

Property, Plant & Equipment

2,455 Capital Work-in-Progress

811 Right-to-Use Assets

1,012 Intangible Assets

4,278 Investments

Others Financial Assets

5,647 Total Non Current Assets

4,060

Current Assets

90 Inventories

6 Trade Receivables

406 Cash and Cash Equivalents & Bank Balance

150 Other Current Assets

381 Total Current Assets

10,740 Assets Classified As Held For Sale*

38,293 TOTAL - ASSETS

226

23,435

23,661

602

2,222

801

1,058

4,081

5,540

4,311

412

150

285

10,794

39,138

13,113

12,989

693

777

345

676

837

343

14,944

14,846

10,269

9,741

1,157

2,750

9,951

9,430

1,014

2,644

23,916

23,039

277

408

39,138

38,293

*In accordance with Ind AS 105 for Non-current Assets Held for Sale and Discontinued Operations, the management has identified and classified certain assets as held for sale

Consolidated Cash Flow

Particulars (₹ Mn)

Net cash flow from operating activities

Profit before tax & extraordinary items

Depreciation

Interest

Others

Working Capital Changes

Tax Payment

Net cash used in Investing Activities

Purchase of fixed assets

Purchase of Investments

Others

Net cash used in financing activities

Net proceeds from borrowings

Repayment of lease liability

Dividend paid & tax on dividend

Interest paid

Net increase/(decrease) in cash & cash equivalents

Cash & cash equivalents as at (opening balance)

Cash & cash equivalents as at (closing balance)

H1FY24

1,959

1,722

912

519

(825)

(394)

(893)

(998)

(15)

120

(932)

(340)

(61)

(12)

(519)

133

693

826

FY23

3,702

3,048

1,709

1,052

(1,506)

(656)

(2,155)

(2,246)

(1,539)

(151)

(102)

(234)

(1,052)

685

693

For further information, please contact:

Mr. Digvijay Singh Rathore

Manager – Investor Relations

+91 22 7111 9304

digvijay.rathore@timetechnoplast.com

Thank You

Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as "will", "aim", "will likely result", "would", "believe", "may", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", seek to", "future", "objective", "goal", "likely", "project", "should", "potential", "will pursue", and similar expressions of such expressions may constitute "forward-looking statements", These forward looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion plans, obtain regulatory approvals, our provisioning policies, technological changes, investment and business income, cash flow projections, our exposure to market risks as well as other risks. The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

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