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| Exchange Disseminated Time 14/08/2015 18:38:02 | Time Technoplast Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 12, 2015 has deliberated upon rolling Business Plan for next 5 years for up to FY 19-20 with objectives of:
i. Turnover to double from the current level of Rs. 2476 crores.
ii. ROCE to improve from appx. 14% to 21%
iii. Debt to EBITDA ratio reduces from 2.35 to 1.00 (appx.)
iv. To reduce Working Capital cycle from 81 days to 75 days (appx.)
The Company plans to set up additional projects / capacities for Industrial Packaging (new production facility at Dahej), increase in capacity of Composite cylinders from 300,000 p.a. to 700,000 p.a. at Daman, Multi Axis Oriented Laminated Film in India and Special Containers of 15 - 30 Ltrs capacity for lubricating oils in Sharjah (UAE). The approximate capital outlay for these projects is estimated at Rs. 175 crores, out of which Rs. 63.00 crores will be provided from internal accruals / free cash flow. Company shall have several options to raise additional resources of Rs. 112.00 crores to ensure that total Borrowings at any stage are kept below Rs. 800.00 crores and reduces appx. to Rs. 600.00 crores by end of 5 year period or earlier. These projects will be completed between FY‘16 and FY'17. |
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