Time Technoplast Limited is pleased to announce its new subsidiary, Time Ecotech Private Limited (TEPL) which will specialize in recycling and reprocessing of used industrial plastic packaging.
Awaiting price reaction for this filing.
Time Technoplast Limited has incorporated a new wholly owned subsidiary called Time Ecotech Private Limited (TEPL) on May 9, 2025, to focus on recycling and reprocessing of used industrial plastic packaging. The new subsidiary has an authorized share capital of ₹25 crore and initial paid-up capital of ₹50 lakhs, fully held by Time Technoplast. In Phase 1, a greenfield recycling facility will be set up in Gujarat, with plans to invest approximately ₹2,120 crore over the long term across four fully automated plants covering West, North, South, and East India. Within three years, these plants are expected to process up to 60,000 metric tonnes of post-consumer plastic waste annually, aligning with India's circular economy goals.
This move diversifies Time Technoplast into the sustainability and plastic recycling space, potentially opening new revenue streams aligned with ESG trends. While the ₹2,120 crore long-term capex commitment signals significant growth ambition, the initial ₹50 lakh outlay means minimal immediate financial impact on shareholders. The stock may see positive sentiment from investors focused on ESG-aligned businesses, though execution risk on the large-scale recycling expansion remains a factor to watch.