Rs 770 Crore Order Book: Cylinder Manufacturer Receives Approval from Bureau Veritas Services SAS, France; Details Inside

The stock gave multibagger returns of 340 per cent in just 2 years whereas the BSE Sensex Index is up by 33 per cent.

Time Technoplast Ltd has achieved a significant milestone by receiving approval from Bureau Veritas Services SAS, France, a renowned international agency, for its 150-litre fully wrapped Fibre Reinforced Refillable Type IV Composite Cylinder for Hydrogen Application. This comes after the company already secured approval from India's Petroleum and Explosive Safety Organization (PESO) in June 2024 for manufacturing and selling the same type of cylinder in India. Time Technoplast proudly stands as the sole company in India to hold approvals from both PESO and an international certification body for these hydrogen cylinders, enabling them to cater to both domestic and global markets and reinforcing their commitment to the "Make in India" initiative.

The approval is a testament to Time Technoplast's robust research and development, a culmination of 3-4 years of dedicated effort, rigorous testing, and strategic investments. This is particularly timely given the global shift towards green energy. Internal research and publicly available data, including estimates from GlobeNewswire, project a strong growth trajectory for the composite hydrogen cylinder market, anticipating a CAGR of 13.2 per cent over the next 12 years, from USD 1.125 billion in 2024 to approximately USD 4.4 billion by 2036. This certification not only validates the strength, safety, and reliability of their product but also underscores the company's commitment to innovation in composite technologies.

About the Company

Time Technoplast Ltd, a multinational conglomerate, leads the market in manufacturing large plastic drums and composite cylinders. Their focus is industrial packaging, with a strong domestic presence and cost-plus pricing. While they also produce infrastructure, lifestyle, and automotive components, their high-growth value-added products are particularly noteworthy. Composite cylinders, a key innovation, are lighter, more durable, and safer than traditional metal options, positioning Time Technoplast for a strong future in the evolving energy landscape. The company’s order book as of December 31, 2024, stands at Rs 770 crore.

The company has a market cap of over Rs 8,000 crore and reported positive numbers in its Quarterly Results (Q3FY25) and half-yearly results (9MFY24). The stock gave multibagger returns of 340 per cent in just 2 years whereas the BSE Sensex Index is up by 33 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.