Order from PSU: This Small Cap Share Price Jumps Over 3%; After Rs 115.56 Crore for the Supply of Type IV Composite CNG Cascades
Join Us
Follow Us
Time Technoplast Ltd shares surged over 3 per cent on Tuesday during the afternoon session after the company announced the receipt of a significant order valued at approximately Rs 115.56 crore. The order is made for the supply of Type IV Composite CNG Cascades for deployment across City Gas Distribution (CGD) networks in India from a well-established PSU.
✨ AI Powered Summary
The order marks the company’s strong position in the advanced composite cylinder and cascade solutions. It also reflects the increasing adoption of lightweight, high-safety, and efficient gas storage systems to support India’s rapidly expanding clean energy and natural gas infrastructure.
The time period for the order to be executed would be within 1 year.
This development aligns perfectly with the favourable policy initiatives and sustained investments by the government authorities aimed at expanding India’s clean energy and gas distribution ecosystem. Additionally, the company expects the Indian CNG composite market to grow at a CAGR exceeding 25 per cent over the coming years.
As per insights published by the Ministry of Petroleum & Natural Gas in its report “Emerging Opportunities for Natural Gas in India”, along with the company’s internal assesSMEnt, the potential market size for CNG cascades in India is estimated at approximately Rs 1,500 crore.
Time Technoplast Limited (TTL), incorporated in 1989, is a manufacturer of polymer products in the Asia and the Middle East and North Africa (MENA) regions. The company has operations at 21 locations in India and 10 locations overseas. It has operational overseas footprints in geographies like Bahrain, Egypt, Indonesia, Malaysia, Singapore, UAE, Taiwan, Thailand and Vietnam.
The Company has proven execution capabilities in this high-growth domain of CNG Composite segment. During 2024-25, the Company recorded revenues of approximately Rs 395 crore from its CNG Composite segment.
Time Technoplast Ltd Share Price Performance
At 14:08:58 IST, the share price went up by 3.16 per cent reaching Rs 165.32, a rise of Rs 5.07 from its previous close. During the trading session, the stock opened at Rs 160.10, hit an Intraday high of Rs 165.42, and recorded a low of Rs 156.19.
On the performance front, the stock has delivered a negative return of 13.16 per cent YTD and declined 8.43 per cent over the last year.
Disclaimer: The article is for informational purposes only and not investment advice.