Time Technoplast Secures Rs. 116 Crore Order from PSU for CNG Cascades
Filing Summary
Time Technoplast Ltd has received an order valued at approximately Rs. 116 Crores from a well-established Public Sector Undertaking (PSU) for the supply of Type IV Composite CNG Cascades. The order is intended for deployment across City Gas Distribution networks in India. This development is in line with the company’s focus on advanced composite cylinder solutions. The order is expected to be executed within one year. There is no related party transaction involved, and the promoter group has no interest in the awarding entity.
Time Technoplast Ltd has announced the receipt of an order valued at approximately Rs. 116 Crores from a well-established Public Sector Undertaking (PSU). The order pertains to the supply of Type IV Composite CNG Cascades for deployment across City Gas Distribution (CGD) networks in India. The order is expected to be executed within one year.
The order involves the supply of Type IV cylinders, specifically mobile storage cascades for CNG. This transaction is domestic, and the order does not fall under related party transactions. The promoter or promoter group of Time Technoplast has no interest in the entity awarding the contract.
During the financial year 2024–25, Time Technoplast recorded revenues of approximately Rs. 395 Crores from its CNG Composite segment. This indicates a strong market demand and the company’s execution capabilities in this sector. The company has noted favorable policy initiatives and investments by government authorities aimed at expanding India’s clean energy and gas distribution ecosystem.
According to insights from the Ministry of Petroleum & Natural Gas, the potential market size for CNG Cascades in India is estimated at approximately Rs. 1,500 Crores. This order aligns with the broader market outlook and presents a growth opportunity for Time Technoplast in the composite gas storage solutions sector.
Time Technoplast Ltd is focused on providing advanced polymer-based solutions, including composite cylinders and cascades. The company prioritizes innovation in lightweight and efficient gas storage systems to support the expanding clean energy infrastructure in India.