Mumbai, February 3, 2025 – Time Technoplast Limited (NSE: TIMETECHNO, BSE: 532856) has announced the receipt of a significant order valued at approximately ₹40.64 crore for the supply of Type IV Cylinders – Mobile Storage Cascades. The order has been placed by a well-established public sector undertaking (PSU), which is a joint venture of government-owned enterprises.
Key Contract Details
| Particulars | Details |
|---|---|
| Awarding Entity | A well-established PSU |
| Order Terms | Supply of Type IV Cylinders – Mobile Storage Cascades for CNG and CGD network |
| Nature of Contract | Supply of Product |
| Domestic/International | Domestic |
| Execution Timeline | Within 1 Year |
| Order Value | ₹40.64 Crore (Approx.) |
| Promoter Interest | No promoter/group company interest |
| Related Party Transaction | Not a related party transaction |
Strategic Implications
This order reinforces Time Technoplast’s market leadership in advanced polymer-based storage solutions, specifically in compressed natural gas (CNG) and city gas distribution (CGD) applications. The contract further solidifies its relationship with public sector clients, enhancing credibility in the clean energy and industrial storage sectors.Management Commentary
Bharat Kumar Vageria, Managing Director of Time Technoplast, expressed his confidence in the company’s ability to execute the order within the stipulated timeline and emphasized its strategic importance in strengthening the company’s presence in the PSU segment.Market Outlook
With increasing investments in clean energy infrastructure, demand for Type IV composite cylinders is expected to rise. The company’s ability to secure large PSU orders demonstrates its competitive edge and technological expertisein the sector.Investors and stakeholders are advised to take note of this development, as it may have positive implications for the company’s revenue growth and order book in the upcoming fiscal year.