Time Technoplast Limited · NSE:TIMETECHNO
Time Technoplast — Investor Presentation (June 2024)
65 slides from Time Technoplast's investor presentation, June 2024
Slide 1: Corporate Presentation June 2024
Corporate Presentation Jun 2024 BSE: 532856 | NSE: TIMETECHNO | ISIN: INE508G01029 | CIN: L27203DD1989PLC003240 ©2024, Time Technoplast Ltd., All Rights Reserved
Slide 2: Who We Are
Who We Are LEADING THROUGH INNOVATION AND TECHNOLOGY Leading Global Industrial packaging company First to launch Type-IV Composite Cylinder for LPG Dominant market position with over 55% market and CNG (CNG cascade and on-board application) share in domestic Industrial packaging. World’s in India. 2
Slide 3: Time Technoplast At A Glance
Time Technoplast At A Glance Business Mix (FY24 total revenue : Rs. 5,007 Cr.) Industrial Packaging Sales by User Industry Established Industrial Packaging Infrastructure Technical & Lifestyle Polyethylene (PE) Pipes, Energy Turf & Matting, Disposable Bins, Products Polymer Drums, Jerry Cans, Pails
Slide 4: Key Milestones
Key Milestones 1992 - 2000 2001 - 2006 2007 - 2010 2011 - 2020 2020 onwards Turnover ₹1 Bn ₹5 Bn ₹10 Bn ₹15 Bn ₹36 Bn ₹42 Bn 1999 2008 2010 2012 2019 2023 ▪ Incorporated Pvt. Ltd. Co. ▪ Launched Automotive related ▪ Got listed on NSE & BSE ▪ Green field manufacturing set ▪ Expanded in USA with 3rd ▪
Slide 5: Management Overview
Management Overview EXECUTIVE DIRECTORS INDEPENDENT DIRECTORS Mr. Bharat Vageria Mr. Raghupathy Thyagarajan Mr. Sanjaya Kulkarni Managing Director Whole Time Director, Marketing Mr. Sanjeev Sharma Chairman (Non- Executive & Whole Time Director Independent) Mr. Naveen Jain Mr. Vishal Jain Whole Time
Slide 6: Innovative and Technology Oriented Products
Innovative and Technology Oriented Products Auto Focus on Innovative & Tech Industrial Packaging Infrastructure Innovative Polymer Components oriented polymer products and Products Drums & Containers Jerry Cans Conipack Pails HDPE Pipes Energy Storage have several firsts to our credit: Devices ▪ 1st
Slide 7: Geographical Presence
Geographical Presence Manufacturing Presence in 11 Countries to meet local demand | 20 Manufacturing locations in India Head Office Baddi Manufacturing Locations United States Pant Nagar Bahrain INDIA India Bhuj Egypt Taiwan Ahmedabad Ratlam Kolkata Thailand Panoli Jambusar UAE Daman (U.T) Saudi Ara
Slide 8: Global Marquee Customers
Global Marquee Customers © 2024 Time Technoplast Limited, All Rights Reserved. 8
Slide 9: Entrenched and longstanding relationship across multiple locations
Entrenched and longstanding relationship across multiple locations Established long-term relationships has allowed capturing significant share of business for reputed clientele across the globe No. of Estimated Customer years of Countries wallet share Relationship Solvay 30 ~30% 3 (India, Thailand a
Slide 10: Diversified and Strong Sourcing/Supplier Base
Diversified and Strong Sourcing/Supplier Base Established relationship Polymers account for the largest share in with most of the global suppliers raw materials INDIA MENA SOUTEAST ASIA USA Metal accessories 9% Others 1% Local ONGC Petro Q-Chem, Qatar Chevron Phillips, Singapore Chevron Phillips, US
Slide 11: Established Products - Industrial Packaging
Established Products - Industrial Packaging ▪ Time Tech produces Polymer drums / barrels, Jerry cans and Pails for varied packaging requirements. ▪ The Company uses technologies of polymer processing such as blow moulding, injection moulding and extrusion to produce a wide range of products. ▪ These
Slide 12: Industrial Packaging Industry – Market & Development
Industrial Packaging Industry – Market & Development Market Drivers Emerging Packaging Scenario ▪ Shift from metal to polymer packaging due to technical and operational ▪ Multinational companies looking east for ▪ The global market for industrial advantages and lower costs. lower cost of production.
Slide 13: Established Products - Infrastructure
Established Products - Infrastructure High Density Polyethylene (HDPE) Pipes Energy Storage Devices ▪ HDPE pipes are capable of handling semi-solid & gaseous effluents and ▪ TimeTech manufactures valve-regulated lead-acid (VRLA ) Batteries conforming has unmatched resistance to corrosive chemicals.
Slide 14: PE Pipes Order Book
PE Pipes Order Book Total Value S. No. Name of the Party (Rs. Cr.) 1 KLSR Infratech Ltd. 58.75 2 WPIL Ltd 39.54 3 Larsen & Toubro Construction 30.95 4 JWIL Infra Ltd 15.0 5 Enviro Infra Engineers Ltd. 15.0 6 Megha Engineering & Infra Ltd 10.0 7 India Hume Pipe Pvt Ltd. 10.0 8 BSCPL Infrastructure Lt
Slide 15: Established Products - Technical & Lifestyle
Established Products - Technical & Lifestyle Turf & Matting Disposal Bins Auto Components ▪ TimeTech is one of the leading players in the matting ▪ Disposal Bins a necessity for hygienic life and ▪ Rain flaps consists of unique surface formed by segment. TTL has been delivering value for money made
Slide 16: Value Added Products – Intermediate Bulk Containers - IBC
Value Added Products – Intermediate Bulk Containers - IBC Range: ▪ 1,000 Ltr capacity ▪ 6.3 Lakh units p.a. in India and Capacity: ▪ 14.4 Lakh units p.a. overseas Users: ▪ Petrochemicals, Foods, Solvents, etc. ▪ Space Efficiency, Eliminate Waste, Durability and Features: Eco-friendly. IBC’s Market S
Slide 17: Value Added Products – MOX Film
Value Added Products – MOX Film Range: ▪ 35 to 320 GSM thickness Capacity: ▪ 12,000 MT p.a. ▪ Agriculture, Infrastructure, Packaging, Commercial Users: Vehicles and many more ▪ Tear/Puncture Resistant, 100% Waterproof, Features: Weathering Resistant, UV Resistant, and Chemical Resistant. ▪ The size
Slide 18: Focus on Composites
Focus on Composites We are at inflection point Shifting from Tech based products to High-Tech products with focus on Composites ▪ Composite is a material of future replacing metals in high performance applications ▪ Tectonic shift ▪ Harnessing new growth opportunities in existing business • Launchin
Slide 19: Value Added Products – Type-IV LPG Composite Cylinder
Value Added Products – Type-IV LPG Composite Cylinder Universal Boss (made of steel, so it is insulated against wear and tear on any number of screwing/unscrewing operations of brass valve) Translucent Recyclable Low UV Protected Non-Corrosive Body Material Maintenance Fibre Glass Composite Layer (H
Slide 20: LPG Cylinder Order Book
LPG Cylinder Order Book No. of Cylinders Total Value S. No. Name of the Party Country Completion Period (in Lakh) (Rs. Cr.) 1 Indian Oil Corporation Ltd.* India 15.00 2 years 405.0 2 BEXIMCO Petroleum Ltd. Bangladesh 2.70 6 - 12 Months 80.0 Sudan, Taiwan, Romania, 3 Others South Korea, Maldives, 1.7
Slide 21: LPG Distributor Meet
LPG Distributor Meet IOCL Distributor Meet Location - Hyderabad Date - 6th March 2024 Attendance - 109 Location - Trichy Date - 11th March 2024 Attendance - 144 © 2024 Time Technoplast Limited, All Rights Reserved. 21
Slide 22: IOCL Quantity Allotment
IOCL Quantity Allotment S. No State Quantity (Nos.) % share 1 Uttar Pradesh 2,24,160 15% 2 Tamil Nadu 2,04,830 14% 3 Delhi 1,45,900 10% 4 Karnataka 1,38,810 9% 5 West Bengal 1,23,150 8% 6 Gujarat 86,160 6% 7 Telangana 81,940 5% 8 Punjab 60,940 4% 9 Madhya Pradesh 59,480 4% 10 Rajasthan 48,220 3% 11
Slide 23: Value Added Products – Type-IV CNG Composite Cylinders
Value Added Products – Type-IV CNG Composite Cylinders Composite Reinforced Shell Robust due to PU End Caps End Boss Carbon Fiber Wrapping Non-permeable liner Increases Gas 70% Lighter Increases Maintenance Metal free / Corrosion Higher Explosion Proof Carrying Capacity In Weight Fuel Efficiency Fre
Slide 24: Comparative Advantages – Type-IV CNG Composite Cylinders
Comparative Advantages – Type-IV CNG Composite Cylinders Manufacturer: Manufacturer: Manufacturer: Manufacturer: • Everest Kanto Cylinder Ltd. • Nobody in India • Luxfer Gas Cylinders, • Time Technoplast Ltd., India • Rama Cylinders Pvt. Ltd. (Popular in China only) USA • Indoruss Synergy Pvt. Ltd.
Slide 25: Type-IV Cylinders– Sizes and Bar Pressure
Type-IV Cylinders– Sizes and Bar Pressure © 2024 Time Technoplast Limited, All Rights Reserved. 25
Slide 26: New CNG Business in consonance with Govt.’s policy to expand use of CNG
New CNG Business in consonance with Govt.’s policy to expand use of CNG CNG Composite Cylinder Applications ▪ CNG Gas Distribution ▪ On – Board Applications ▪ Cascades ▪ Roof Mounted Bus ▪ Mobile Refueling Units ▪ Chassis Mounted Truck ▪ Compressed Bio-Gas Plant ▪ CAB Mounted Truck ▪ Gas Generators
Slide 27: Type-IV CNG Composite Cylinders – Cascade Application
Type-IV CNG Composite Cylinders – Cascade Application Why Move Steel ? Move Gas Instead. 70% Lighter Than Type I Cylinders Type IV CNG Cylinder Cascades 2.2 Times More Gas Lighter – Carries 220% More Gas Per Trip Reduce Per kg CNG transportation cost by almost 50% Type IV CNG Cylinder – Metal Free N
Slide 28: Type-IV CNG Composite Cylinders – Cascade Application
Type-IV CNG Composite Cylinders – Cascade Application Carries DOUBLE the quantity of gas Cuts operations cost by HALF © 2024 Time Technoplast Limited, All Rights Reserved. 28
Slide 29: Type-IV CNG Composite Cylinders – Onboard Applications
Type-IV CNG Composite Cylinders – Onboard Applications Dump Truck Chassis Mounted Truck CAB Mounted Truck Roof Mounted Bus Boat Car 3 Wheeler 2 Wheeler Approved by PESO and Third party (Bureau Veritas – Europe) in May 2021 for Type-IV cylinder for the first time in India. © 2024 Time Technoplast Lim
Slide 30: CNG Cylinder : Overall Market Potential
CNG Cylinder : Overall Market Potential Huge revenue potential given India’s low penetration of CNG fuel stations and CNG vehicles Estimated Total Estimated Total Estimated Business in Market Per Year Conversion % Business (Type-IV) Business (Rs. Cr.) No. of Years (Rs. Cr.) per year (Rs. Cr.) CNG Ca
Slide 31: Geographical Area Allocated to CGDs
Geographical Area Allocated to CGDs S. No CGD Entity Nos. CNG stations % 1 Consortium of AG&P LNG Marketing Pte Ltd. & Atlantic Gulf & Pacific 10 1462 18% 2 Indian Oil Corporation Limited 17 1213 15% 3 Indian Oil-Adani Gas Private Limited 19 876 11% 4 Hindustan Petroleum Corporation Limited 10 864 1
Slide 32: CNG Price Chart
CNG Price Chart Rs./kg CNG prices have started coming down since last one year; A decline of 11.7% from November 2022 Increased price differential compared to other conventional fuel options will drive Auto demand © 2024 Time Technoplast Limited, All Rights Reserved. 32
Slide 33: Recent News articles
Recent News articles ▪ Tata Motors expect 10-12% of its sales to come from CNG vehicles in FY24, up from 6% in FY23. ▪ New launches, price differential with petrol and increased availability of CNG dispensing stations driving demand. ▪ 5,665 CNG distribution outlets were operational in India by end
Slide 34: Recent News articles
Recent News articles 15th August 2023- ET 26th February 2024- ET 17th April 2024- ET ▪ CNG vehicle sales expected to increase significantly ▪ Reliance Industries to set up over 50 Biogas plants in 2 years ▪ Compressed Biogas (CBG) has properties similar to CNG and would require cascades for transpor
Slide 35: CNG Cascade Order Book
CNG Cascade Order Book No. of Total Value S. No. Name of the Party Cascades (Rs. Cr.) 1 Maharashtra Natural Gas Limited (MNGL) 121 115.00 2 Adani Total Gas Limited 40 38.00 3 Indraprastha Gas Limited (IGL) 50 29.06 4 Sabarmati Gas Limited 20 18.00 5 Bharat Petroleum Corporation Limited (BPCL) 20 18.
Slide 36: Market Potential : CNG Cascades
Market Potential : CNG Cascades New CNG stations allotted in 9th and 10th round 8,181 Number of Cascades required per station 2 Total number of cascades required 16,362 Estimated cost of one cascade (Rs. per cascade) 70,00,000 Total Value of Business in next 8 years (Rs. Cr.) 11,453 Source: Petroleu
Slide 37: Type-IV CNG Composite Cylinders – Mobile Refueling Units (MRUs)
Type-IV CNG Composite Cylinders – Mobile Refueling Units (MRUs) India’s First Mobile Refueling CNG Unit with Type-IV Composite Cylinders Virtual inauguration on June 8, 2021 by Mr. Dharmendra Pradhan- Union Minister for Petroleum and Natural Gas ▪ MRUs act as Mobile CNG Stations ▪ Can be parked anyw
Slide 38: Market Potential : Mobile Refueling Units (MRUs)
Market Potential : Mobile Refueling Units (MRUs) Total existing and committed new CNG stations in India by 2024 7,300 Conversion to MRUs (~30%) 2,200 Estimated cost of one cascade (Rs. per cascade) 60,00,000 Total Value of Business in next 4 years (Rs. Cr.) 1,320 Source: Ministry of Petroleum and Na
Slide 39: Market Potential : Compressed Bio-Gas (CBG)
Market Potential : Compressed Bio-Gas (CBG) Total CBG plants by 2023 5,000 Number of Cascades required per plant 2 Total number of cascades 10,000 Estimated cost of one cascade (Rs. per cascade) 60,00,000 Total Value of Business in next 3 years (Rs. Cr.) 6,000 Source: Ministry of Petroleum and Natur
Slide 40: Market Potential : Gas Generators for Telecom Towers
Market Potential : Gas Generators for Telecom Towers Towers- 20% of existing Telecom Towers use gas generators(~1.8 lakhs towers) 32,000 MRUs required (1 MRU for every 4 towers) 8,000 Estimated cost of one cascade (Rs. per cascade) 60,00,000 Total Value of Business in next 4 years (Rs. Cr.) 4,800 So
Slide 41: Market Potential : Onboard Applications – Intracity Bus
Market Potential : Onboard Applications – Intracity Bus No. of buses on road by 2024 2,10,000 Buses converted to CNG (~40% conversion) 85,000 No. of cylinders per Bus 8 Total No. of Cylinders required 6,80,000 Estimated Cost of 156 litre cylinder (Rs. per cylinder) 78,000 Total Estimated value of Bu
Slide 42: Value Added Products Recent Developments
Value Added Products Recent Developments Type-III Composite Cylinder for Breathing Air/ Medical OXYGEN ▪ Successfully developed Fully Wrapped Carbon Fibre Reinforced (Type-III) Composite Cylinder for Breathing Air/ Medical Oxygen; 1st locally manufactured cylinder to get approval from PESO in India.
Slide 43: Value Added Products Recent Developments
Value Added Products Recent Developments Composite Air Tank for Heavy Vehicles ▪ The air compressor draws filtered air from the atmosphere and compresses it, storing the compressed air in high-pressure reservoirs. ▪ Currently these reservoirs are made-up of steel which are very heavy & prone to corr
Slide 44: Products Recent Developments
Products Recent Developments WIPRO Hydraulic Tank- 120 Litre ▪ All the tippers with back body tilting arrangement uses hydraulic systems for tilting operation. ▪ Currently Wipro is supplier of this hydraulic system with metal hydraulic oil tank to the Automotive OEM’s. ▪ 1st time in India, Time Tech
Slide 45: Value Added Products Under Development
Value Added Products Under Development Hydrogen Cylinder Composite Water Heater for Fuel Cells ▪ Type-IV Carbon wrapped ▪ Made with HDPE inner liner cylinders & glass fibre composite outer winding retains heat for ▪ Light weight (90% weight longer time. reduction) - provides better fuel economy and
Slide 46: Towards a SUSTAINABLE future with Technology and Transformation
Towards a SUSTAINABLE future with Technology and Transformation Continuous Innovation to create a POSITIVE Environmental Impact Focus on reduction of waste from packaging products by RECYCLE and REUSE Introduction of Multi-Layer Technology for Seal cap Industrial Packaging products (Drums, Jerry can
Slide 47: REBOTTLE & REUSE of IBC with collection system
REBOTTLE & REUSE of IBC with collection system 1 2 3 4 5 Recollect Reuse Reduce Recycle Renew Used IBCs are washed for Established collection Focus on reduction of In Rebottled IBCs, the removal and treatment of a Circular use of plastic centers reduces the resources and energy cage is reconditioned
Slide 48: Focus on ESG for a Sustainable Development
Focus on ESG for a Sustainable Development ▪ 5% Reduction in Carbon Footprint from FY22 ▪ Developed 10% Green Belt by planting the trees like Mango, Ashok etc. ▪ Saving of 5% from Renewable Energy (Solar Power) to Total Electricity Consumption ▪ PAN India units registered under EPR, for reprocessing
Slide 49: Our CSR efforts for a better society and a better tomorrow
Our CSR efforts for a better society and a better tomorrow Empowering Promoting Women Healthcare Rural Providing Development Education Projects Benefits to Benefits to Armed Forces underprivileged Veterans Promoting Eradicating Sanitation Hunger © 2024 Time Technoplast Limited, All Rights Reserved.
Slide 50: Growth Drivers
Growth Drivers ▪ Core Business- Industrial Packaging ➢ Huge growth opportunities for global industrial packaging market Projected to grow from USD 69.5 Bn in 2022 to USD 123.2 Bn by 2032 (5.9% CAGR) ➢ Chemicals, Pharmaceuticals , Food & Beverages etc. expected to grow significantly. ➢ Shift of chemi
Slide 51: Way Forward
Way Forward Chemical production shifting IBCs growing faster from China to other Asian Time is the largest and major player countries in most countries it operates in Polymer and Composite Recycling efforts to products to gain share from encourage sustainability metals © 2024 Time Technoplast Limite
Slide 52: Global Chemical Industry
Global Chemical Industry 2021 Chemical Sales By Country: Top 10 1,729 Chemical Sales (€ billion) For the year 2021, World chemical sales (excluding 594 437 pharmaceuticals) stood at €4,026 Bn. 190 133 104 77 76 58 58 China EU27 USA Japan South India Brazil Taiwan Russia Saudi Korea Arabia 2021 Chemi
Slide 53: FY24 Financial Snapshot
FY24 Financial Snapshot Total Income (₹ Mn) EBITDA (₹ Mn) and Margin (%) Particulars India Overseas 17% 21% YoY Growth YoY Growth Volume Growth (19% YoY) 19% 16% 13.5% 14.1% Revenue Growth (17% YoY) 18% 14% 50,066 42,932 7,050 Revenue Contribution 67% 33% 5,809 EBITDA Margin 14.4% 13.4% PAT Margin 6
Slide 54: Segmental Performance
Segmental Performance Polymer Products* Composite Products** Revenue (₹ Mn) and EBITDA Margin (%) Revenue (₹ Mn) and EBITDA Margin (%) 13.2% 13.6% 14.1% 15.0% 32,540 17,385 28,674 13% 22% YoY 14,221 YoY Revenue Revenue Share Share 65% 35% FY23 FY24 FY23 FY24 *Polymer Products: HM-HDPE plastic Drums/
Slide 55: Established Products and Value-Added Products
Established Products and Value-Added Products Established Products* Value Added Products** Revenue (₹ Mn) and EBITDA Margin (%) Revenue (₹ Mn) and EBITDA Margin (%) 12.4% 12.8% 17.3% 17.9% 37,248 33,210 12% 12,818 32% YoY YoY 9,722 Revenue Revenue Share Share 74% 26% FY23 FY24 FY23 FY24 *Established
Slide 56: Product Segment Wise Value and Volume Numbers
Product Segment Wise Value and Volume Numbers Value Volume YoY YoY Particulars FY24 FY23 Unit FY24 FY23 Growth Growth (₹ Mn) (₹ Mn) % % TURNOVER REGULAR BUSINESS Packaging (Excl. IBC Business ), Lifestyle , Auto , Batteries Business etc. 34,734 31,164 11.6% M.T. 287,203 250,025 PE Pipes 2,514 2,046
Slide 57: Consolidated Income Statement
Consolidated Income Statement Particulars (₹ Mn) Q4FY24 Q3FY24 Q4FY23 FY24 FY23 Total Income 14,053 13,266 11,930 50,066 42,932 Total Expenses 12,082 11,341 10,231 43,016 37,123 EBITDA 1,971 1,925 1,699 7,050 5,809 EBITDA Margin (%) 14.0% 14.5% 14.2% 14.1% 13.5% Finance Cost (Net) 246 249 326 1,014
Slide 58: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (₹ Mn) FY24 FY23 Particulars (₹ Mn) FY24 FY23 Equity & Liabilities ASSETS Shareholder's Funds Share Capital 227 226 Other Equity 25,301 22,467 Total Shareholder's Fund 25,528 22,693 Non-Current Assets Minority Interest 635 582 Fixed Assets Non-Current Liabiliti
Slide 59: Consolidated Cashflow
Consolidated Cashflow Particulars (₹ Mn) FY24 FY23 Net cash flow from operating activities 4,062 3,702 Profit before tax & extraordinary items 4,310 3,048 Depreciation 1,726 1,709 Interest 1,014 1,052 Others (83) 55 Working Capital Changes (1,984) (1,506) Tax Payment (920) (656) Net cash used in Inv
Slide 60: Safe Harbour
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", "
Slide 61: For further information, please contact
For further information, please contact: Mr. Digvijay Singh Rathore AVP- Finance and Investor Relations +91 22 7111 9304 digvijay.rathore@timetechnoplast.com © 2024 Time Technoplast Limited, All Rights Reserved. “Time Technoplast” and The Time Technoplast Logo are trademarks of Time Technoplast Limi
Slide 62: CNG Cascade Customers
CNG Cascade Customers S. No. Customer name 1 ADANI TOTAL GAS LTD 2 MAHANAGAR GAS LTD 3 BHARAT PETROLEUM CORPORATION LIMITED 4 HINDUSTAN PETROLEUM CORPORATION LTD 5 INDIAN OIL CORPORATION LTD 6 MAHARASHTRA NATURAL GAS LTD 7 INDRAPRASTHA GAS LTD 8 GAIL GAS LTD 9 MEGHA ENGINEERING & INFRASTRUCTURE 10 A
Slide 63: Commercial Benefits – Type I vs Type IV
Commercial Benefits – Type I vs Type IV Sr. Steel Cylinder Composite Cylinder Parameter Remarks No Type I Cascade Type IV Cascade 1 Size 75 Litre 156 Litre 2 Number of Cylinders/Cascade 60 Nos 60 Nos Total CNG Carrying Capacity 3 4,500 WLC 9,360 WLC (Water Litre Capacity) Indicative Cost of Cascade
Slide 64: Commercial Benefits – Type I vs Type IV
Commercial Benefits – Type I vs Type IV Sr. Steel Cylinder Composite Cylinder Parameter Remarks No Type I Cascade Type IV Cascade 1 Distance Assumed 100 kms 100 kms Type I Cascade Wt: Running Cost 2 32 30 9702 X 2 = 19404 kg (Rs/km) Type IV Cascade Wt: 5820 kg 3 Cost of Running 100 kms (Rs) 3200 X 2
Slide 65: Commercial Benefits – Type I vs Type IV
Commercial Benefits – Type I vs Type IV Sr. No Parameter Payback period and Savings over 20 years Additional Capex for 9000 Litre CNG 1 16.00 Lakhs transport (Rs) Savings per month in 52 trips 2 1.82 Lakhs (Rs) Payback period 3 Less than 9 months (for Rs 9.00 lakhs extra Capex) Total Savings over a