Monitoring Agency Report for the quarter ended March 31, 2026
TIMETECHNO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Time Technoplast raised Rs. 800 crore via a Qualified Institutional Placement (QIP) in November 2025. CARE Ratings, as Monitoring Agency, reports that as of March 31, 2026, Rs. 443.59 crore (55.4%) has been utilized out of the Rs. 800 crore raised. The primary use has been debt repayment (Rs. 400 crore fully deployed). Capital expenditure on automation (Rs. 10.53 crore of Rs. 89.37 crore) and investment in subsidiary Time Ecotech for recycling plants (Rs. 14 crore of Rs. 54.90 crore) are behind schedule. The largest unutilized portion is Rs. 222.06 crore earmarked for inorganic growth, acquisitions, and general corporate purposes — completely unused. The company has passed a Board Resolution to extend the utilization period for this allocation from FY26 to FY27. Unutilized funds totaling Rs. 356.41 crore are parked in fixed deposits with various banks. No material deviations from the offer document were observed.
The QIP proceeds are being deployed as intended with no deviations, though capital expenditure and inorganic growth timelines have slipped. The large unutilized corpus parked in FDs indicates slower-than-expected execution on expansion plans. Investors should note the delayed deployment for capex and acquisitions, with the company extending the usage window to FY27.