“The company has undertaken phase-II expansion plan for increasing the manufacturing capacity by 600 nos. cascades per annum with a total capital outlay of Rs 125 crore approximately. Subsequent to this expansion, which will be completed by end of FY 2023-24, total manufacturing capacity will be 1080 nos. cascades per annum. Further, under this phase-II expansion, company is also making provision for manufacturing of hydrogen cylinders for seed marketing,” the company stated in exchange filing.

Time Technoplast is a multinational conglomerate involved in the manufacturing of technology and innovation driven polymer & composite products.

The company's consolidated net profit rose 14% to Rs 61.25 crore on 19.8% jump in net sales to Rs 1,128.61 crore in Q3 FY23 over Q3 FY22.