Time Technoplast Secures Rs 1,155.6 Million CNG Cascade Order

18 Mar 2026 CW Team

Time Technoplast Limited has received an order valued at Rs 1,155.6 million (mn) from a well-established public sector undertaking for the supply of Type IV composite CNG cascades for deployment across city gas distribution networks in India. The order reinforces the company's position in advanced composite cylinder and cascade solutions and reflects increasing adoption of lightweight, high-safety and efficient gas storage systems that support India's expanding clean energy infrastructure. The company indicated that the contract aligns with its strategic priorities in polymers based solutions and clean mobility.

During the financial year 2024-25 the company recorded revenue of approximately Rs 3,950 million (mn) from its CNG composite segment, indicating robust market demand and established execution capabilities in this high-growth domain. Management cited favourable policy initiatives and sustained investment by government authorities as key drivers of expansion in the natural gas distribution ecosystem.

Based on insights from the Ministry of Petroleum and Natural Gas report and the company's internal assessment the potential market size for CNG cascades in India is estimated at around Rs 15 billion (bn). The firm expects the Indian CNG composite market to grow at a compound annual growth rate exceeding 25 per cent over the coming years, and views the current order as validating a strong long-term growth runway.

The contract, to be executed within one year, is not a related party transaction and comprises supply of Type IV composite cylinders configured as mobile storage cascades for CNG and city gas distribution networks. The award is expected to enhance medium-term revenue visibility for the segment and to strengthen the company's market leadership in composite gas storage solutions while creating sustained value for stakeholders.

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