Time Technoplast Ltd receives order worth Rs. 115.56 crores

Time Technoplast Ltd has received a significant order valued at approximately Rs. 115.56 Crores from a reputed Public Sector Undertaking (PSU) for the supply of Type IV Composite CNG Cascades for deployment across City Gas Distribution (CGD) networks in India.

This order further reinforces the Company's strong position in advanced composite cylinder and cascade solutions and reflects the increasing adoption of lightweight, high-safety, and efficient gas storage systems to support India's rapidly expanding clean energy and natural gas infrastructure.

During FY 2024-25, the Company recorded revenues of approximately R395 Crores from its CNG Composite segment, demonstrating robust market demand and the Company's proven execution capabilities in this high-growth domain.

Supported by favourable policy initiatives and sustained investments by Government authorities aimed at expanding India's clean energy and gas distribution ecosystem, the Company expects the Indian CNG Composite market to grow at a CAGR exceeding 25% over the coming years.

As per insights published by the Ministry of Petroleum & Natural Gas in the report "Emerging Opportunities for Natural Gas in India" , and based on the Company's internal assessment / the potential market size for CNG Cascades in India is estimated at approximately Rl,500 Crores. This order and the broader market outlook present a strong long-term growth runway for the Company.

The evolving energy landscape offers significant opportunities for the Company to accelerate growth / strengthen its market leadership in composite gas storage solutions, and create sustained long-term value for its stakeholders.

Shares of Time Technoplast Limited was last trading in BSE at Rs. 163.60 as compared to the previous close of Rs. 160.25. The total number of shares traded during the day was 155253 in over 4388 trades.

The stock hit an intraday high of Rs. 165.50 and intraday low of 156.35. The net turnover during the day was Rs. 25031803.00.

Source : Equity Bulls

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