Time Technoplast Limited has informed the Exchange about Bagging/Receiving of orders/contracts of Rs. 115.56 crores (approx.) received for Supply of Type IV Cylinders Mobile Storage Cascades for CNG from Well-Established Public Sector Undertaking (PSU)
TIMETECHNO · price
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Time Technoplast has won an order worth approximately Rs. 115.56 crores from a well-established domestic Public Sector Undertaking (PSU) for supplying Type IV Composite CNG Cylinders – Mobile Storage Cascades for deployment across City Gas Distribution (CGD) networks in India. The order is to be executed within 1 year and is not a related-party transaction. In FY 2024–25, the company's CNG Composite segment generated revenues of around Rs. 395 crores, meaning this single order is roughly 29% of segment revenue. The company also highlighted that the Indian CNG Composite market is expected to grow at over 25% CAGR, with an estimated market size of about Rs. 1,500 crores.
This is a meaningful order win that strengthens the company's near-term revenue visibility and reinforces its leadership in the growing CNG composite cylinder segment, which is likely to be viewed positively by investors. The PSU backing and the rising adoption of clean energy infrastructure add further credibility to the long-term growth story.