Time Technoplast Limited — Investor Presentation 2021

May 28, 2021

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Earning Presentation FY21 / Q4FY21 May 2021

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B S E : 5 3 2 8 5 6 | N S E : T I M E T E C H N O | I S I N : I N E 5 0 8 G 0 1 0 2 9 | C I N : L 2 7 2 0 3 D D 1 9 8 9 P L C 0 0 3 2 4 0

©2021, Time Technoplast Ltd., All Rights Reserved

Mana ement Commentar g y

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Mr. Anil Jain

Managing Director

“ Fiscal 21 has been an unprecedented year by all standards. Despite the challenges posed by COVID-19, the Company has delivered a satisfactory performance and we are happy to exit the fiscal on an optimistic note. Favourable recovery trends across key end user industries combined with operational excellence steered the momentum, resulting in a positive year-onyear growth of 4% and 36% in revenue and profit after tax, respectively, during Q4FY21. Plant utilisation levels returned back to pre-COVID levels supported by positive demand scenario. I am also very pleased to announce that the company has achieved yet another milestone and for the first time in India has received approval from regulatory authorities for manufacturing of Carbon Fibre Wrapped Type-IV Composite CNG cylinder for on-board (vehicle) application. With healthy order book for CNG Cascades, on-going discussions with Auto OEMs and manufacturers of CNG Conversion Kits (aftermarket) for CNG on-board cylinders and overall improvement in demand of Chemicals and Pharmaceuticals worldwide, we hope to maintain a strong momentum and harness our efforts towards achieving our growth aspirations while focusing on shareholder value creation .”

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Table of content

Financial Hi hli hts g g

Ke Develo ments y p

Com an Overview p y

A endix pp

4

8

12

14

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Safe Harbour

Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as "will", "aim", "will likely result", "would", "believe", "may", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", seek to", "future", "objective", "goal", "likely", "project", "should", "potential", "will pursue", and similar expressions of such expressions may constitute "forward-looking statements", These forward looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forwardlooking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion plans, obtain regulatory approvals, our provisioning policies, technological changes, investment and business income, cash flow projections, our exposure to market risks as well as other risks. The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date

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thereof.

Q4FY21 Financial Hi hli hts g g

Total Income (₹ Mn) and Growth (%)

EBITDA (₹ Mn) and Margin (%)

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13.5% 13.8%
9534 12.4%
11.4%
8,354 1313
7,444
1,129
926
4,755
542
Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21
PAT (₹ Mn) Cash Profit (₹ Mn)
522 901
776
384
632
245
259
-117
Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21
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Note: The above Quarterly results are not comparable to the corresponding quarters of the previous year due to the Covid-19 impact

Appendix

Company Overview

Key Developments

Financial Highlights

4

Q4FY21 Se mental Performance g

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Polymer Products [ ] Composite Products [] Revenue Share
Revenue (₹ Mn) EBITDA Margins (%) Revenue (₹ Mn) EBITDA Margins (%) Revenue Share – Q4 FY21
9,000 4,000
13.5% 13.6% 14.2% Composite
13.6% Products,
12.3%
12.7% 28%
11.4%
6,876
11.5%
3,000
2,636
6,000 5,789 2,559 Polymer
2,337
5,100 Products,
72%
2,000
3,334
1,418
Polymer Products: HM-HDPE plastic Drums/Jerry Cans
3,000
and Pails, Polyethylene (PE) pipes, Turf & Mattings,
1,000 Disposable Bins and MOX Films
Composite Products: Intermediate Bulk Containers
(IBC), Composite Cylinders (LPG and CNG), Energy
storage devices, Auto Products and Steel Drums.
0 0.00% 0 0.00%
Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21
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Note: The above Quarterly results are not comparable to the corresponding quarters of the previous year due to the Covid-19 impact

Appendix

Company Overview

Key Developments

Financial Highlights

5

FY21 Financial Hi hli hts g g

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Total Income (₹ Mn) EBITDA (₹ Mn) and Margin (%) PAT (₹ Mn) Cash Profit (₹ Mn)
14.0%
35,803 13.0%
30,087
5,011
1,691
3,909 3,312
1,034 2,568
FY20 FY21 FY20 FY21 FY20 FY21 FY20 FY21
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Note: The full year ended March 31, 2021 results are not comparable to the corresponding period of the previous year due to the Covid-19 impact

Particulars India Overseas	Total Debt in FY21 reduced to ₹ 8,097 Mn as against ₹8,320 Mn in FY20 Net cash from Operating Activities in FY21 is ₹ 1,560 Mn Value added products de-grew by 13.0% in FY21 as compared to FY20, while established products de-grew by 16.7%. The company‟s focus remains to increase the share of value added products in its revenue and improve margins. Established Products-*HM-HDPE plastic Drums/Jerry Cans and Pail Turf & Mattings, Disposable Bins, Energy storage devices, Auto Prod l ddd ddi lk i
Volume Growth (-17%) -19% -10%
Revenue Growth (-16%) -18% -11%
Revenue Contribution 69% 31%
EBITDA Margin 13.1% 12.8%
PAT Margin 3.4% 3.5%
Cash Profit Margin 8.5% 8.6%

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Revenue Share – FY21
Value Added
Products,
20%
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Established
Products,
80%
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Established Products-* HM-HDPE plastic Drums/Jerry Cans and Pails, Polyethylene (PE) pipes, Turf & Mattings, Disposable Bins, Energy storage devices, Auto Products and Steel Drums. Value Added Products- Intermediate Bulk Containers (IBC), Composite Cylinders (LPG and CNG) and MOX Films.

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Appendix

Company Overview

Key Developments

Financial Highlights

FY21 Se mental Performance g

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Polymer Products Composite Products
Revenue (₹ Mn) EBITDA Margins (%) Revenue (₹ Mn) EBITDA Margins (%)
20,000
31,000 19,000
13.9%
18,000 14.3%
12.9%
17,000 13.2%
28,000
16,000
25,365 15,000
14,000
25,000
13,000
12,000
22,000 21,099 11,000 10,415
10,000 8,950
9,000
19,000 8,000
7,000
6,000
16,000
5,000
4,000
3,000
13,000
2,000
1,000
10,000 0.00% 0 0.00%
FY20 FY21 FY20 FY21
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Revenue Share

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Revenue Share – FY21
Composite
Products,
30%
Polymer
Products,
70%
Revenue Share – FY20
Composite
Products,
29%
Polymer
Products,
71%
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Note: The full year ended March 31, 2021, results are not comparable to the corresponding period of the previous year due to the Covid-19 impact

Appendix

Company Overview

Key Developments

Financial Highlights

7

FY21 O erational Hi hli hts p g g

Consistent Dividend Paying Company

• The Board of Directors have recommended a dividend of 70% i.e. ₹ 0.70 per share on equity share of ₹ 1/- each of the company for the year ended March 31, 2021, subject to the approval of Shareholders.

• Dividend payout increased by 20% and stands at 15.3% as compared to 12.7% previous year.

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|||
|---|---|
|Total capex in FY21|₹ 1,035 Mn.|
|Established Products for capacity expansion, re-engineering and automation|₹ 670 Mn.|
|Value Added Products|₹ 365 Mn.|

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• Capacity utilization: Overall 66% (India: 65%; Overseas: 70%)

Industrial Packaging

• Receiving overwhelming response for packaging products i.e. IBC and large sized drums, from all the three locations in USA i.e. Chicago, Houston and Iowa.

• Brownfield expansion in India and overseas locations continue for future growth and leveraging of existing infrastructure.

Pipes

• Pipe segment got affected downwards especially in Q4FY21 due to delay in providing upward price revision to EPC contractors by government authorities on account of unexpected increase in polymer prices. The situation is now normalizing.

• Continued good order book in PE Pipe business of ₹ 2,400 Mn

• Supply of newly Launched new generation multilayer pipes for power/communication cable duct with silicon in-lining continues to get overwhelmed response .

• The pipes/ducts have substantial business potential specially in government projects like Smart Cities, Jal Jeevan Mission and Swachh Bharat Mission.

Appendix

Company Overview

Key Developments

Financial Highlights

8

FY21 O erational Hi hli hts- Contd. p g g

Composite Cylinder- LPG application

• Continued overwhelming response from overseas customers for Composite Cylinder for use in filling of LPG.

• The Company currently has approvals in over 55 countries and is exporting Composite Cylinders to over 40 nations.

Composite Cylinder- CNG application (Cascades)

• The Company has received in August 2020 coveted approval from Petroleum And Explosives Safety Organization (PESO) and Bureau Veritas for the first time for Indian Cylinder under International Standard ISO:11119-3:2013 as applicable for manufacturing of Fully Wrapped Carbon Fibre Reinforced Type-IV Composite Cylinder for CNG Cascades.

• This highly technical product has huge business potential and has been developed by Company‟s R&D Team in last 3 years.

• Current order book position of ₹ 536 Mn to be executed during FY2022. Company is also in talks with various gas distribution companies for larger orders.

Composite Cylinder- CNG application (on-board)

• During the month of May 2021, for the first time in India, the Company has finally received approval from PESO and Bureau Veritas under ISO: 11439-2013 as applicable for manufacturing of Fully Wrapped Carbon Fibre Reinforced Type-IV Composite Cylinder for On Board (vehicle) applications.

• Besides the OEMs, who have explicitly expressed their preference for Type-IV cylinders vis-à-vis Type-I (steel cylinders), the Company is also going to target the secondary market in the Automobile industry.

• The company has also received inquires from Varanasi for Type-IV cylinders for the conversion of boats from the traditional fuel to CNG, under „Namami Gange‟ initiative.

Appendix

Company Overview

Key Developments

Financial Highlights

9

FY21 O erational Hi hli hts- Contd. p g g

Composite Cylinder- Oxygen application (under development)

• With the ongoing shortage for Oxygen cylinder, the Company has successfully developed Carbon Fibre Reinforced Composite Cylinder (TypeIII) for Oxygen.

• The first prototype has been developed in 10 litre capacity at 200 bar pressure carrying sufficient medical grade oxygen to serve a patient for 7 hours @5 Litre Per Minute (LPM). The company is also working on developing a 20 Litre capacity cylinder.

• These cylinders shall now undergo extensive tests/trials by third party inspection agency and PESO. The company plans to launch these cylinders for emergency use in August 2021.

MOX Films

• Company innovating new applications of the MOX films and is launching new products in the market like Truck covers, Pond Liners, Mulching Film & Poly house Films.

• Continued focus on export markets of Thailand, Malaysia, Germany UK & USA.

Business Consolidation

• The Scheme of Amalgamation is under process between the following companies to consolidate common infrastructure and achieve operational synergies:

• TPL Plastech Ltd. (75% subsidiary of the Time Technoplast Limited) and Ecotech Green Lifecycle Limited (Wholly Owned Subsidiary of TPL Plastech Ltd.)

• NED Energy Ltd. (97% subsidiary of the Time Technoplast Limited) and Power Build Batteries Pvt. Ltd. (Wholly Owned Subsidiary of NED Energy Ltd.).

Appendix

Company Overview

Key Developments

Financial Highlights

10

Initiatives taken in the li ht Covid-19 g

Creation of ‘Employees Welfare Fund’

Objectives of the fund is to extending supportive measures to the affected members or their families in the form of :

• Reimbursement of hospitalization expenses incurred by any employee who had to undergo hospitalization

• Providing advance leaves if the affected employee is under home quarantine/hospitalization for a longer period due to any pandemic or calamity

• 50% of salary to be given to family members of the deceased employees for a period of one year from the date of demise

• Preferential employment consideration to one dependent family member of the deceased employee (Spouse/Dependent Children) based on merit and suitability to match the organizational requirements

• One-time financial support for the dependent elderly parents (aged 60 years and above) having minor children or no children of the deceased employee

• Support to the deceased employee‟s children‟s school/college level education fee in India (up to graduation)

• The family of deceased employee will get all their legal dues as applicable to his/her grade and the same will be handed over to the Nominee as mentioned in company‟s records.

• Company is also exploring to provide Group Medical Insurance with specific eligibility criteria for all the employees

The welfare assistance to be extended are not limited to Covid-19 pandemic only, but will also cover any other natural calamities of an extreme nature as per the decision of Committee.

Appendix

Company Overview

Key Developments

Financial Highlights

11

Time Techno last p

Business Mix

• Time Technoplast Limited (Time Tech) is a multinational company and one of the leading manufacturer of technology based polymer and composite products

• Strong presence in Asia & MENA regions with presence in 10 different countries outside India

• Has 14+ recognized brands and works with > 900 institutional customers globally

• Well established inhouse R&D team of around 30 people having experience of more than 15 years for upgrading existing and developing futuristic products by using latest processing technology

Established Products Value-Added Products Industrial Packaging Infrastructure Technical & Lifestyle Intermediate Composite MOX Film Polymer Drums, Polyethylene (PE) Pipes, Turf & Matting, Bulk Cylinders (Techpaulin) Disposable Bins, Container Jerry Cans, Energy storage devices Auto Products (IBC) Pails

Marquee Clients

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Chemicals

Petrochemicals

Others

Auto

BASF, Huntsman, Bayer, Shell, Indian Oil, Gulf, Ashok Leyland, Tata Cargill, GE, L&T, Nestle, Aditya Birla Chemicals, ExxonMobil, Total, etc. Motors, Eicher Motors, Wipro, LEAP India, Etc. Volvo, Etc. Du Pont, Dow, Eco Lab, Solvay, Etc.

Company Overview

Appendix

Financial Highlights

Key Developments

12

Product Portfolio

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Revenue Share – FY21
Drums & Containers Jerry Cans Conipack Pails HDPE Pipes DWC Pipes Energy Storage
Devices
Established
Products
80%
Rain Flaps Fuel Tanks Mats
20%
Value-Added
Products
Composite Cylinders Composite IBCs MOX Films
CNG Type IV Composite Cylinder
DEF (Urea) Tanks CNG Cascade Composite Air Tanks Tech Pack : Smart can
for Vehicles ( On Board Application)
Financial Highlights Key Developments Company Overview Appendix 13
Brand
Product
Brand
Established Products
Product
Brand
Products
Value Added Product
New
Development
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Consolidated Income Statement

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|||||||
|---|---|---|---|---|---|
|Particulars (₹ Mn)|Q4FY21|Q3FY21|Q4FY20|FY21|FY20|
|Total Income|9534|8354|9171|30,087|35,803|
|Total Expenses|8221|7225|7980|26,178|30,792|
|EBITDA|1313|1129|1191|3,909|5,011|
|EBITDA Margin (%)|13.8%|13.5%|13.0%|13.0%|14.0%|
|Finance Cost(Net)|237|240|260|977|1,082|
|Depreciation|383|378|370|1510|1,562|
|PBT|693|511|561|1,422|2,367|
|Tax|175|113|158|364|617|
|PAT before Minority Interest|518|398|403|1,058|1,750|
|Minority Interest|(4)|14|20|24|59|
|PAT after Minority Interest|522|384|383|1,034|1,691|
|PAT Margins (%)|5.5%|4.6%|4.2%|3.4%|4.7%|
|EPS [₹]|2.31|1.70|1.69|4.57|7.48|

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Note: The full year ended March 31, 2021 results are not comparable to the corresponding period of the previous year due to the Covid-19 impact

Appendix

Company Overview

Financial Highlights

Key Developments

14

Consolidated Balance sheet

Consolidated Balance sheet
Particulars (₹ Mn) FY21 FY20 Equity & Liabilities Shareholder's Funds Share Capital 226 226 Other Equity 18,803 17,925 Total Shareholder's Fund 19,029 18,151 Minority Interest 483 521 Non-Current Liabilities Long-Term Borrowings 2,616 3,315 Lease Liabilities 534 581 Deferred Tax Liabilities (Net) 825 792 Total Non Current Liabilities 3,975 4,688 Current Liabilities Short-Term Borrowings 4,157 4,309 Trade Payables 3,244 4,435 Other Financial Liabilities 1,415 776 Other Current Liabilities 335 350 Short-Term Provisions 136 106 Current Tax Liabilities 271 307 Total Current Liabilities 9,558 10,283 TOTAL - EQUITY AND LIABILITIES 33,045 33,643	Particulars (₹ Mn) FY21 FY20
	ASSETS
	Non-Current Assets
	Fixed Assets
	Property, Plant & Equipment 12,233 12,857
	Capital Work-in-Progress 403 805
	Right-to-Use Assets 575 633
	Intangible Assets 2 4
	Others Financial Assets/LongTerm Loans & Advances 289 294
	Total Non Current Assets 13,502 14,593
	Current Assets
	Inventories 7,598 7,577
	Trade Receivables 7,983 8,207
	Cash and Cash Equivalents & Bank Balance 870 825
	Other Advances 1,497 1,463
	Other Current Assets 994 978
	Total Current Assets 18,942 19,050
	Assets Classified As Held For Sale 601 -*
	TOTAL - ASSETS 33,045 33,643

*In accordance with Ind AS 105 for Non-current Assets Held for Sale and Discontinued Operations, the management has identified and classified certain assets as held for sale as on March 31, 2021.

Appendix

Company Overview

Financial Highlights

Key Developments

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Ca ital Market Information p

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Sales
Marquee Investors as on 31 [st] March 2021 (% of Total Equity)
Promoter
NT Asian Discovery Fund 15.0
51%
HDFC Trustee 9.0
Kapitalforeningen Investin Pro - Dalton 3.5
16% Public
Grandeur Peak 2.1
11%
22%
Life Insurance Corporation of India 1.7
FIIs and Foreign
Mutual Funds/
Total Shareholders > 37,000 Companies
Insurance
companies
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Company Overview Appendix

Financial Highlights

Key Developments

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For further information, please contact: Mr. Digvijay Singh Rathore Mr. Siddesh Chawan Manager – Investor Relations Christensen IR +91 22 7111 9304 +91 22 4215 0210 digvijay.rathore@timetechnoplast.com schawan@christensenir.com

© 2021 Time Technoplast Limited, All Rights Reserved.

“Time Technoplast” and The Time Technoplast Logo are trademarks of Time Technoplast Limited. In addition to Company data, data from market research agencies, Stock Exchanges and industry publications has been used for this presentation. This material was used during an oral presentation; it is not a complete record of the discussion. This work may not be used, sold, transferred, adapted, abridged, copied or reproduced in whole on or in part in any manner or form or in any media without the prior written consent. All product names and company names and logos mentioned herein are the trademarks or registered trademarks of their respective owners.

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