India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Equity Bottom-Up

<ul>
<li>Strong FY25 financial performance driven by volume growth outpacing revenue, significant PAT increase, and improved margins, particularly from higher-growth value-added and composite product segments.</li>
<li>The strategic focus on higher-margin value-added products, especially composites, is enhancing profitability (margins, ROCE) and positioning the company for future growth in key sectors like clean energy and sustainability.</li>
<li>The consistent execution on strategic targets (ROCE, debt reduction, composite growth) strengthens conviction in the management's ability to deliver and capitalize on emerging opportunities, despite some project timeline shifts.</li>
</ul>


Strong FY25 financial performance driven by volume growth outpacing revenue, significant PAT increase, and improved margins, particularly from higher-growth value-added and composite product segments.
The strategic focus on higher-margin value-added products, especially composites, is enhancing profitability (margins, ROCE) and positioning the company for future growth in key sectors like clean energy and sustainability.
The consistent execution on strategic targets (ROCE, debt reduction, composite growth) strengthens conviction in the management's ability to deliver and capitalize on emerging opportunities, despite some project timeline shifts.


Time Technoplast Limited: Value-Added Products and Composites Drive Strong Performance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/time-technoplast-ltd" target="_blank" data-smartkarma-citation="entities:16043:1" rel="noopener">Time Technoplast (TIME IN)</a> holds a dominant position in the industrial packaging sector, with leadership in composite cylinders, IBCs, plastic drums, benefiting from a strong global presence&amp; high entry barriers.</li>
<li>TTL is increasingly focusing on higher-margin segments like CNG cylinders, hydrogen storage, and composite products. These initiatives offer significant scalability and margin expansion, setting up strong long-term revenue growth.</li>
<li>With strategic R&amp;D investments, TTL is entering emerging sectors like e-mobility (e-rickshaw batteries) and hydrogen fuel cylinders, tapping into new high-growth markets that could diversify revenue and fuel sustainable growth.</li>
</ul>



Time Technoplast (TIME IN) holds a dominant position in the industrial packaging sector, with leadership in composite cylinders, IBCs, plastic drums, benefiting from a strong global presence&amp; high entry barriers.
TTL is increasingly focusing on higher-margin segments like CNG cylinders, hydrogen storage, and composite products. These initiatives offer significant scalability and margin expansion, setting up strong long-term revenue growth.
With strategic R&amp;D investments, TTL is entering emerging sectors like e-mobility (e-rickshaw batteries) and hydrogen fuel cylinders, tapping into new high-growth markets that could diversify revenue and fuel sustainable growth.


The Beat Ideas- Time Technoplast: Driving Growth Through Innovation & Value-Added Products

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Belrise Industries / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/belrise-industries" target="_blank" data-smartkarma-citation="entities:44122:1" rel="noopener">Belrise Industries (9156339Z IN)</a> raised about US$252m in its India IPO.</li>
<li>Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial and agri-vehicles.</li>
<li>We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.</li>
</ul>



Belrise Industries (9156339Z IN) raised about US$252m in its India IPO.
Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial and agri-vehicles.
We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.


Belrise Industries IPO Trading - Robust Insti Demand; Leads Recent Listings

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Time Technoplast is a leading manufacturer of polymer based packaging &amp; composite products with 34 production facilities in 11 countries.</li><li>Established products (industrial packaging, PE pipe, battery others) contribute ~80% to the topline while value added product category (IBC, composite cylinders, mox films) contribute 20% of revenue </li><li>Focus is to increase revenue sharing from value added product category in the next five years from 20% to 22%.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Time Technoplast is a leading manufacturer of polymer based packaging &amp; composite products with 34 production facilities in 11 countries.Established products (industrial packaging, PE pipe, battery others) contribute ~80% to the topline while value added product category (IBC, composite cylinders, mox films) contribute 20% of revenue Focus is to increase revenue sharing from value added product category in the next five years from 20% to 22%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Time Technoplast - Value Added Products Drive Revenue Growth…

Higher contribution of valued added products to drive EBITDA The company has set a target to increase revenue contribution from value added product (VAP) categories from 20% in FY21 to 22% by FY25. Time Techno sees a strong revenue traction (of Rs 2200 crore/annum) from its newly launched CNG cascade business, going forward. Alongside, new products such as oxygen cylinder, air tanks (for commercial vehicles), hydrogen cylinder for fuel cell and composite water heater are in the approval stage.<div class="content-highlight">Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</div>

Higher contribution of valued added products to drive EBITDA The company has set a target to increase revenue contribution from value added product (VAP) categories from 20% in FY21 to 22% by FY25. Time Techno sees a strong revenue traction (of Rs 2200 crore/annum) from its newly launched CNG cascade business, going forward. Alongside, new products such as oxygen cylinder, air tanks (for commercial vehicles), hydrogen cylinder for fuel cell and composite water heater are in the approval stage.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Time TechnoPlast: Focus on Better Product Mix for Quality Earnings

India

Time Technoplast Limited manufactures and sells technology based polymer products for a wide variety of industries.

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Time Technoplast (TIME IN)

Time Technoplast Limited: Value-Added Products and Composites Drive Strong Performance

Strong financial performance in FY25 driven by volume growth, higher-margin value-added products like composites, and strategic execution,...

Sudarshan Bhandari

The Beat Ideas- Time Technoplast: Driving Growth Through Innovation & Value-Added Products

Time Technoplast is a dominant player in industrial packaging, focusing on higher-margin segments like CNG cylinders and hydrogen storage for...

Sudarshan Bhandari

Belrise Industries IPO Trading - Robust Insti Demand; Leads Recent Listings

Belrise Industries Limited (BIL) raised about US$252m in its India IPO. In this note, we talk about the trading dynamics.

Akshat Shah

Time Technoplast - Value Added Products Drive Revenue Growth…

Time Technoplast is a leading manufacturer of polymer based packaging & composite products with 34 production facilities in 11 countries.

ICICI Securities Limited

Time TechnoPlast: Focus on Better Product Mix for Quality Earnings

Higher contribution of valued added products to drive EBITDA. The company has set a target to increase revenue contribution from value added...

ICICI Securities Limited

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Time Technoplast Limited: Value-Added Products and Composites Drive Strong Performance

​Strong financial performance in FY25 driven by volume growth, higher-margin value-added products like composites, and strategic execution,...

Sudarshan Bhandari

The Beat Ideas- Time Technoplast: Driving Growth Through Innovation & Value-Added Products

​Time Technoplast is a dominant player in industrial packaging, focusing on higher-margin segments like CNG cylinders and hydrogen storage for...

Sudarshan Bhandari

Belrise Industries IPO Trading - Robust Insti Demand; Leads Recent Listings

Belrise Industries Limited (BIL) raised about US$252m in its India IPO. In this note, we talk about the trading dynamics.

Akshat Shah

Time Technoplast - Value Added Products Drive Revenue Growth…

Time Technoplast is a leading manufacturer of polymer based packaging & composite products with 34 production facilities in 11 countries.

ICICI Securities Limited

Time TechnoPlast: Focus on Better Product Mix for Quality Earnings

Higher contribution of valued added products to drive EBITDA. The company has set a target to increase revenue contribution from value added...

ICICI Securities Limited

Strong financial performance in FY25 driven by volume growth, higher-margin value-added products like composites, and strategic execution,...

Time Technoplast is a dominant player in industrial packaging, focusing on higher-margin segments like CNG cylinders and hydrogen storage for...