Synopsis: Time Technoplast secured a key approval in hydrogen storage, strengthening its position in clean mobility. With existing capabilities and manufacturing readiness, it moves closer to tapping future opportunities in the hydrogen ecosystem.
The shares of this small-cap company is majorly engaged in the manufacturing of technology and innovation driven polymer & composite products were in focus after securing key approval from PESO to design and manufacture composite hydrogen cylinders.
With the market capitalization of Rs. 9367 Crores, the shares of Time Technoplast Ltd Reached an intraday high of Rs. 192 per share rising nearly 4.5 percent from its previous day close of Rs. 184 per share and is trading at a P/E of 21 whereas industry P/E stands at 22.3
What is the NEWS:
Time Technoplast has received approval from Petroleum and Explosives Safety Organization ( PESO) to design and manufacture 250-litre high-pressure Type IV composite hydrogen cylinders meant for use in buses, trucks, and trailers. This makes it the first company in India to get such approval for this category, marking an important step forward.
The company has been asked to produce initial prototypes, which will go through inspection and testing, with the validation process expected to be completed within the next 90 days. These cylinders operate at much higher pressure levels of around 350 to 700 bar compared to 200 to 250 bar in CNG systems, allowing better energy density, longer driving range, and improved efficiency.
Time Technoplast already has approvals for 150-litre Type IV hydrogen cylinders and also for Type III cylinders used in areas like drones, showing that it has been building its presence in this space over time. The company is focusing on replacing traditional heavy metal cylinders with lighter composite ones, which can improve both cost and performance.
Its composite segment has already reported revenue of Rs. 555 crore in the first nine months of FY26, indicating steady demand. To support this growth, the company has set up a fully automated manufacturing facility in Morai near Vapi in Gujarat for producing CNG and hydrogen cylinders along with cascade systems.
About the Company and Financials:
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.
Year on Year analysis: Revenue from operations has increased from Rs. 1388 Crores to Rs. 1565 Crores, up 12.7 percent. Operating profit has increased from Rs. 201 Crores to Rs. 234 Crores, up 16.4 percent and net profit has increased from Rs. 102 Crores to Rs. 129 Crores, up 26.4 percent
Quarter on Quarter analysis: Revenue from operations has increased from Rs. 1511 Crores to Rs. 1565 Crores, up 3.5 percent. Operating profit has increased from Rs. 223 Crores to Rs. 234 Crores, up 4.9 percent and net profit has increased from Rs. 117 Crores to Rs. 129 Crores, up 10.2 percent
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