SYNOPSIS: World’s largest manufacturer of large-size plastic drums secured a Rs. 115 crore PSU order for CNG cylinders, reinforcing its position in the growing gas infrastructure segment, supported by strong demand and a projected 25 percent CAGR in the market.
During Tuesday’s trading session, shares of one of the leading global industrial packaging companies and the world’s largest manufacturer of large-size plastic drums surged 3 percent on BSE, after securing a CNG cascade order worth more than Rs. 115 crores from a Public Sector Undertaking (PSU).
With a market cap of Rs. 8,081 crores, shares of Time Technoplast Limited are currently trading in the green at Rs. 163.7 on BSE, up by over 2 percent, compared to its previous closing price of Rs. 160.25. The stock has delivered negative returns of over 8 percent in one year, and has fallen by around 18 percent in the last one month.
What’s the News
According to the latest disclosure filed with the stock exchanges, Time Technoplast Limited has received a significant order valued at around Rs. 115.56 crores from an undisclosed Public Sector Undertaking (PSU), for the supply of Type IV CNG cylinders (mobile storage cascades), which will be deployed across City Gas Distribution (CGD) networks in India. The execution of this order is expected to be completed within one year.
This order highlights the company’s strong position in advanced composite cylinder and cascade solutions, while also reflecting the growing demand for lightweight, high-safety, and efficient gas storage systems. Such technologies are increasingly being adopted to support India’s expanding clean energy ecosystem and natural gas infrastructure.
In terms of financial performance, the company reported revenues of around Rs. 395 crore from its CNG composite segment in FY25, indicating robust demand and consistent execution capabilities in this fast-growing segment.
Looking ahead, the company expects the Indian CNG composite market to grow at a CAGR of over 25 percent, driven by supportive government policies and continued investments aimed at strengthening the country’s gas distribution network and clean energy transition.
According to insights from the Ministry of Petroleum and Natural Gas, along with the company’s internal estimates, the potential market size for CNG cascades in India is around Rs. 1,500 crore. Given this strong market outlook and recent order inflows, the company appears well-positioned to benefit from long-term growth opportunities in the segment.
Financials & More
Time Technoplast Limited is mainly involved in the business of manufacturing technology and innovation-driven polymer & composite products, with a strong presence in the Asia and MENA regions. It holds a dominant market position with over 55 percent market share in domestic Industrial packaging. In addition, the company ranks as the second-largest manufacturer of MOX films in India and is also the second-largest composite cylinder manufacturer globally.
Time Technoplast reported a significant growth in revenue from operations, experiencing a year-on-year increase of around 13 percent, from Rs. 1,388 crores in Q3 FY25 to Rs. 1,565 crores in Q3 FY26. Likewise, its net profit increased during the same period from Rs. 102 crores to Rs. 129 crores, representing a rise of over 26 percent YoY.
As of 9M FY26, the company reported a total capex of Rs. 177.4 crores. By the end of Q3 FY26, it had a healthy order book, including Rs. 165 crore in composite cylinders (CNG cascades) and Rs. 275 crore in PE pipes, reflecting steady demand across key segments.
During Q3 FY26, the company completed its Rs. 800 crore QIP, issuing 397.77 lakh equity shares at Rs. 201.12 per share (including a premium of Rs. 200.12). Pursuant to the allotment on 11th November 2025, the paid-up equity share capital increased from Rs. 4,538.58 lakh to Rs. 4,936.36 lakh.
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