Time Technoplast Limited has informed the Exchange regarding 'Incorporation Of Wholly Owned Subsidiary'.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.
TIMETECHNO · price
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Time Technoplast has incorporated a new wholly owned subsidiary, Time Ecotech Private Limited (TEPL), focused on recycling and reprocessing of used industrial plastic packaging. The company plans an approximate ₹2,120 crore long-term investment to set up four fully automated recycling plants across India's West, North, South, and East regions. Phase 1 begins with a greenfield facility in Gujarat, and within three years the four plants together are projected to process up to 60,000 metric tonnes of post-consumer plastic waste annually. The subsidiary has an authorized share capital of ₹25 crore and an initial paid-up capital of ₹50 lakhs, with Time Technoplast holding 100% of the equity. The move supports India's circular economy goals and aligns with the group's sustainability and carbon emission reduction commitments.
This is a forward-looking strategic push into plastic recycling and the ESG/sustainability theme, potentially creating new long-term revenue streams and appealing to ESG-focused investors. Near-term stock impact is likely muted since TEPL is newly incorporated with a small initial capital base, and the ₹2,120 crore capex is a multi-year plan subject to execution and funding risks.