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Time Technoplast is a multinational conglomerate involved in the manufacturing of technology and ...

Posted: 09 Nov 2024

Time Technoplast is a multinational conglomerate involved in the manufacturing of technology and innovation driven polymer & composite products. Market Leadership The company holds a market share of over 55% in the domestic industrial packaging segment. It is the largest manufacturer of large-size plastic drums, the 2nd largest manufacturer Detailed Rationale of the Rating Action Ind-Ra is no longer required to maintain the rating as the company did not proceed with the instrument as envisaged. Ind-Ra will no longer provide analytical or rating coverage for TTL. This is consistent with Ind-Ra�s Policy on Withdrawal of Ratings. ESG Issues ESG factors minimally relevant to rating: Unless otherwise disclosed in this section, the ESG issues are credit neutral or have only a minimal credit impact on TTL, due to either their nature or the way in which they are being managed by the entity. For more information on Ind-Ra�s ESG relevance disclosures, please click here. For answers to frequently asked questions regarding ESG relevance disclosures and their impact on ratings, please click here. About the Company TTL is a multinational conglomerate in the polymer product business with manufacturing operations in India, Thailand, Taiwan, Indonesia, Malaysia, Vietnam, Egypt, Saudi Arabia, the UAE, the US and Bahrain. About India Ratings and Research: India Ratings and Research (Ind-Ra) is committed to providing India's credit markets accurate, timely and prospective credit opinions. Built on a foundation of independent thinking, rigorous analytics, and an open and balanced approach towards credit research, Ind-Ra has grown rapidly during the past decade, gaining significant market presence in India's fixed income market. Ind-Ra currently maintains coverage of corporate issuers, financial institutions (including banks and insurance companies), finance and leasing companies, managed funds, urban local bodies and project finance companies. Headquartered in Mumbai, Ind-Ra has seven branch offices located in Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata and Pune. Ind-Ra is recognised by the Securities and Exchange Board of India, the Reserve Bank of India and National Housing Bank. India Ratings is a 100% owned subsidiary of the Fitch Group. For more information, visit www.indiaratings.co.in. Solicitation Disclosures Additional information is available at www.indiaratings.co.in. The ratings above were solicited by, or on behalf of, the issuer, and therefore, India Ratings has been compensated for the provision of the ratings. Ratings are not a recommendation or suggestion, directly or indirectly, to you or any other person, to buy, sell, make or hold any investment, loan or security or to undertake any investment strategy with respect to any investment, loan or security or any issuer.