TIL Limited Acquires Majority Stake in Tulip Compression, Expanding Into Clean Energy

TIL Limited, the Kolkata-headquartered material handling and infrastructure equipment maker listed on the NSE, has announced its board has approved the acquisition of a 60% stake in Tulip Compression Private Limited (TCPL), a Delhi-based clean energy solutions company. The deal, which is subject to shareholder and regulatory approvals, marks TIL's formal entry into the clean energy manufacturing sector.

TIL will acquire the stake from its affiliate, Gainwell Commosales Private Limited, and retains the option to increase its holding to 74%. TCPL specialises in packaging, assembly, and maintenance of gas compression equipment for CNG, LNG, and hydrogen applications, operating two manufacturing facilities in Greater Noida.

The acquisition is framed by both companies as a backward integration play. TIL brings over 80 years of heavy engineering expertise and two certified factories in Eastern India — a mobile crane facility in Kamarhati, Kolkata, and a 150-acre integrated plant in Kharagpur — which TCPL can leverage to internalise production of components it previously sourced externally. In turn, TIL gains access to LNG and hydrogen powerpacks for its existing material handling equipment range, as well as TCPL's capabilities in cryogenic LNG storage tanks, oil and gas process vessels, and skids.

Sunil Kumar Chaturvedi, Chairman and Managing Director of TIL Limited, described the move as a "force multiplier" in the company's broader TIL 2.0 strategy, saying it widens the product range and strengthens the company's footprint across oil and gas and transportation sectors. Alok Kumar Tripathi, President and Whole Time Director, pointed to plans to expand into hydrogen powerpacks, cryogenic storage, and advanced oil and gas solutions as part of an effort to offer complete engineering solutions.

From TCPL's side, Director Raj Kumar Sachdeva said TIL's manufacturing infrastructure would be "transformative" for the company's product development, enabling faster development cycles and greater quality control over the value chain.

TCPL, established in 2017, has partnerships with Swiss firm Burckhardt Compression and US-based Sapphire Technologies, and has delivered more than 600 online CNG compressors to India's City Gas Distribution industry. The company's recent product innovations include a Composite CNG Dispensing Unit, hydrogen compression systems, and a Freespin® Inline Turboexpander for clean energy recovery. TCPL aims to produce over 200 compressor packages annually going forward.

TIL Limited, founded in 1944, holds ISO 9001:2015 certification and maintains global alliances with the Manitowoc Company and Hyster-Yale Group, both based in the United States.