Time Technoplast Ltd sells part of non-core assets

Time Technoplast Ltd has sold its land & building along with electrical installation, for a total consideration of Rs.21.51 Crores. In addition, the Company has also sold its machineries, moulds and equipments etc. worth Rs.11.75 Crores since last disclosure.

In December 2023, management of the Company had identified and decided to liquidate Non-Core Assets, estimated total realizable value of which is around Rs.125 Crores (appx), by the end of financial year 2025. So far, the Company has sold/ agreed to sell NON-CORE Assets (including the above), totaling to Rs.60 crores (appx.). Proceeds from the sale of these assets will be partly utilized towards reduction of debt and partly towards expansion of existing Established and ValueAdded products.

Shares of Time Technoplast Limited was last trading in BSE at Rs. 204.35 as compared to the previous close of Rs. 193.10. The total number of shares traded during the day was 69016 in over 1339 trades.

The stock hit an intraday high of Rs. 206.30 and intraday low of 189.25. The net turnover during the day was Rs. 13888402.00.

Source : Equity Bulls

Keywords

TimeTechnoplast INE508G01029 NonCoreAssets Sale