Time Technoplast Ltd

- No increase in debt level is planned; all repayments will be from internal resources (Page 7). - CAPEX for CNG cascade expansion and composite investment is estimated around Rs. 200 crores, funded internally without increasing debt (Page 7). - For overseas business divestment proceeds, options like debt repayment, CAPEX, and shareholder benefit are being considered, but specifics are not shared yet (Page 12). - Multiple options regarding use of divestment proceeds are being explored; no clear update on equity fundraising or new debt (Page 12). - The Company aims to remain debt-free post-disinvestment of overseas business (Page 15). - No mention of fresh equity fundraising in the current discussion (Pages 10-16).

- Current CAPEX: Around Rs. 200 crores focused on composite cylinder and CNG cascade capacity expansion. - CNG cascade expansion includes increasing capacity to 1,080 cascades, with Rs. 125 crores spent on initial 600 cascades; further investment planned. - No increase in debt is expected for CAPEX; funded from internal resources. - New Dahej facility for Tpl Plastech with capacity to manufacture approx. 1.2 lakh IBCs; expected to generate Rs. 75 crores revenue at 90% capacity utilization. - Delay in overseas business disinvestment but proceeds expected to fund debt repayment, CAPEX, and shareholder benefits. - Monitoring further expansion opportunities based on order flows, especially in LPG cylinders and CNG cascades. - Focus on "Make in India" products including green hydrogen markets as strategic investment direction. - Localizing raw material supplies to reduce inventory and improve ROCE over next 2-3 years.

- The Company achieved 18% revenue growth in FY '23, reaching Rs. 4,293 crores, with volume growth of 13%. - Management targets over 15% revenue growth annually going forward. - Value-added product sales projected to increase from 23% to 25% in the current year, reaching 30% in 3 years, and 35% in 5 years. - CNG Cascade revenue is expected to grow substantially, from Rs. 155 crores last year to Rs. 300 crores this year, with capacity expansion to support higher volumes. - Traditional packaging business expected to grow around 12% in FY '24, in line with polymer and chemical industry growth. - The Company's EBITDA margin is targeted to improve from 13.5% to the 13.5%-15% range with margin enhancements. - Overseas business has grown faster than India (28% vs 13%), contributing to overall volume growth.

- Time Technoplast is projecting consolidated revenue growth of over 15% for FY '24, with EBITDA margins improving from the current 13.5% to a range of 13.5%–15% and potentially surpassing 15% as value-added products increase. - Value-added products sales, currently at 23%, are expected to grow to 25% in the current year, 30% in three years, and 35% in five years, driving margin expansion. - EBITDA margins are anticipated to reach 15.5% to 16% once value-added products constitute 35% of sales. - ROCE targets remain unchanged: over 16% for FY '24, over 19% by FY '25, and more than 20% by FY '26. - The company aims to improve EPS through margin expansion, volume growth (~15%+), and working capital cycle reduction. - Strong demand for CNG cascades and composite products supports near-term growth, with order book around Rs. 260 crores.

- The Company has a strong order book position of approximately Rs. 260 crores for Type-IV composite cylinders for CNG Cascades (Page 3). - Current capacity for CNG Cascades is 480 units, with orders already in hand; expansion to 600 more cascades expected by the end of the calendar year, totaling 1,080 cascades (Page 6). - After expansion, the expected revenue from 1,080 cascades could be around Rs. 800 crores (Page 6). - Present orders have an execution time of 6 to 8 months from suppliers (Page 6). - LPG cylinder business has ongoing 2-year orders from oil distribution companies like IOCL, with capacity utilization around 85-90% (Page 15). - Expansion plans for CNG and green hydrogen cylinders are prioritized based on demand (Page 15).