Time Technoplast Limited has received an order worth approximately ₹115.56 crore from a public sector undertaking (PSU) for the supply of Type IV Composite CNG Mobile Storage Cascades. The order was disclosed to the National Stock Exchange (NSE) and BSE on March 17, 2026, in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The contract is domestic in nature, carries no related party interest, and is to be executed within one year of the award.
The cylinders are intended for deployment across City Gas Distribution (CGD) networks in India. CGD networks supply piped natural gas to households, commercial establishments, and compressed natural gas (CNG) stations for vehicles. As India expands this infrastructure to more cities and districts, the demand for efficient and safe gas storage and transportation equipment has grown considerably.
Type IV cylinders are composite pressure vessels that use a thermoplastic liner wrapped with carbon or glass fibre reinforcement. This construction makes them substantially lighter than conventional steel or aluminium cylinders, while maintaining the structural strength required to store gas at high pressure. Mobile Storage Cascades — arrangements of multiple cylinders mounted on a vehicle frame — are used to transport CNG from production or compression points to distribution stations, making them a critical link in the CGD supply chain.
In its regulatory filing, Time Technoplast stated that the order reflects the increasing adoption of lightweight, high-safety, and efficient gas storage systems as India works to scale up its clean energy infrastructure. The company has positioned itself as a supplier in the composite cylinder space, catering to both domestic industrial demand and government-backed energy distribution programmes.
Financially, the CNG Composite segment has been a notable contributor to the company's overall performance. Time Technoplast reported revenues of approximately ₹395 crore from this segment alone during FY 2024–25, indicating consistent demand and the company's capacity to execute at scale. The current order, at ₹115.56 crore, represents a meaningful addition to the company's order book in this segment.
Looking ahead, the company projects the Indian CNG Composite market will grow at a compound annual growth rate exceeding 25% over the coming years. This outlook is underpinned by the Indian government's sustained push to expand natural gas usage across the country, reduce dependence on liquid fuels, and meet broader clean energy targets. Policy support, infrastructure investment by government bodies, and rising adoption of CNG as a vehicle fuel are among the factors the company cites in support of this projection.
Citing a report by the Ministry of Petroleum and Natural Gas titled Emerging Opportunities for Natural Gas in India, and drawing on its own internal assessments, the company estimates the total addressable market for CNG Cascades in India at approximately ₹1,500 crore. If accurate, this figure suggests that the segment still has substantial room for growth, and that the current order is part of a longer-term demand cycle rather than an isolated development.
Time Technoplast is a manufacturer of polymer and composite products with operations spanning industrial packaging, infrastructure, and clean energy applications. The company is headquartered in Mumbai and maintains manufacturing and distribution presence across multiple states.