Time Technoplast spurts on stock split proposal

Time Technoplast surged 6.72% to Rs 823 at 11:41 IST on BSE after the company said its board will meet on 27 June 2008 to consider stock split.

The stock hit a high of Rs 845 and a low of Rs 776 so far during the day. The stock had a 52-week high of Rs 1142 on 8 January 2008 and a 52-week low of Rs 449.65 on 2 August 2007.

The company has an equity capital of Rs 20.92 crore. Face value per share is Rs 10.

The current price of Rs 823 discounts its Q3 December 2007 annualised EPS of Rs 25.21, by a PE multiple of 32.65.

In April 2008, Time Technoplast (TTL) completed the acquisition of Gulf Power Beat WLL, Bahrain, which has a battery manufacturing facility in Bahrain.

TTL reported a net profit of Rs 13.19 crore on net sales of Rs 132.95 crore in Q3 December 2007. Figures of the previous corresponding year period were not available.

The company is engaged in manufacturing and selling technology based polymer products. It serves the growing sectors of Indian economy viz. industrial and consumer packaging solutions, lifestyle products, auto components, healthcare products and construction and infrastructure related products.