Anil Jain, Managing Director and Bharat Vageria - Director (Finance) of the company addressed the call.

Highlights of the call

Time Techno has emerged as a formidable player in the polymer space, with a product repertoire that caters to diverse segments like Industrial Packaging, Infrastructure, Lifestyle, Healthcare, Composites and Auto Components related products.

It focuses on replacing metals with polymers in high performance areas using innovation and latest technology.

Time Techno services wide spectrum of user industry in each of its business verticals, reducing sectorial risks and tapping new opportunities for growth.

It has presence in India, Thailand, Taiwan, Indonesia, Vietnam, Malaysia, UAE, Bahrain, Saudi Arabia & Egypt.

For the quarter ended December 2018, it registered a 16% rise in consolidated sales to Rs 872.71 crore. OPM fell 100 bps to 14.4% which saw OP rise 8% to Rs 125.87 crore. PBT went up 17% to Rs 72.71 crore. Net profit went up 16% to Rs 54.16 crore.

For the nine months, it registered a 15% rise in consolidated sales to Rs 2481.68 crore. OPM fell 90 bps to 14.3% which saw OP rise 8% to Rs 353.89 crore. PBT went up 5% to Rs 175.81 crore. Net profit went up 3% to Rs 129.06 crore.

During the quarter the company completed Greenfield manufacturing project for manufacturing of IBC Bottle in Chicago, USA and commenced commercial sales which received overwhelming response

Project of greenfield manufacturing facility tor manufacturing of packaging products is under process of completion at Malua, near Bangaluru, India

The company launched new range of next generation Matting products i.e. duro Gel and Duro Comfort and receiving encouraging response.

The Board has approved withdrawal of setting up new production facility tor manufacturing of steel drums at Hamriyah Free Zone, Sharjah, UAE for considering other opportunities in value added products.

Nine month India sales grew 15% and overseas sales grew 15%.

The value added products grew 22% in nine months. The share of value added products is 20% of the total sales nine months against 18%.

The company's focus remains to increase the share of value added products in its revenue.

Nine month volume growth achieved was 13%. Volumes in India business grew 12% while that of overseas business grew 15%.

For the Nine months India accounted for 70% of sales. Rest 30% came from overseas.

For the Nine months EBITDA margins in Indian business stood at 14.31% while for overseas it was 14.25%.

For the Nine months India net margin stood at 4.88% while overseas stood at 5.93%. Margins are higher in overseas due to lower tax rate.

For the Nine months Effective Tax Rate was 24.53%. In India it was 27.30% and in overseas it was 17.43%.

For the Nine months Cash profit grew by 6%.

Total Debt in nine months stood at Rs 829.2 crore.

Net cash from operating activities stood at Rs 142.1 crore.

Capacity utilization was 82% overall. India business capacity utilization was 84% and for overseas it was 76%.

Total capex for nine months was Rs 171.60 crore.

For the Nine months established Products for capacity expansion, re-engineering and automation stood at 131.70 crore and capex for value added products stood at Rs 39.9 crore.

For the Nine months healthy order book continued in PE Pipe business. It had order book of around 22500 MT which is around Rs 295 crore. 30% is with price escalation and 70%is fixed price contracts.

The company started supply of newly launched new generation multilayer PE pipes for power/communication cable duct with silicon in-lining.

The pipes/ducts have substantial business potential specially in Smart Cities.

Greenfield expansion at Silvassa in India was completed and at Bangalore is under progress for future growth.

For MOX films, the company is launching new products in the market like Truck covers, Pond Liners, Mulching Film & Poly house Films.

For MOX films the company is focusing on export markets i.e. Thailand, Malaysia, Germany, UK & USA.

Its value added business has margin of 18%.

The company has revised its depreciation policy. Earlier the policy was aggressive. This is the reason why depreciation was down.