Rs 185 Crore Order Book: Cylinder Manufacturer Bags New Order Worth Rs 40,64,00,000 From A Well-Established PSU

The stock gave multibagger returns of 130 per cent in just 1 year whereas BSE Small-Cap Index is up by 9 per cent.

Time Technoplast Ltd announced a significant order for the supply of Type IV cylinders – Mobile Storage Cascades, valued at approximately Rs 40.64 crore. The order was placed by a well-established, government-owned PSU joint venture. The contract involves supplying Mobile Storage Cascades for CNG and CGD networks within one year to a domestic entity.

Earlier, the company announced that it had been a major player in the Middle East for over 18 years, with existing operations in the UAE, Bahrain, and Saudi Arabia. To meet growing demand, they announced a new, state-of-the-art production facility in Saudi Arabia through their subsidiary, Gulf Powerbeat, KSA. This plant specialized in 1,000-liter IBCs and plastic drums, using advanced automation. Scheduled to open in Q2 2025, it aimed to serve Saudi Arabia, Kuwait, and Qatar, enhancing responsiveness and customer satisfaction. This expansion further solidified Time Technoplast's global leadership.

On Tuesday, shares of Time Technoplast Ltd gained 4.51 per cent to Rs 390.75 per share from its previous closing of Rs 373.90 per share. The stock’s 52-week high is Rs 513.35 per share while its 52-week low is Rs 162.80 per share.

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 September 30, 2024, stands at Rs 185 crore.

The company has a market cap of over Rs 8,800 crore and reported positive numbers in its Quarterly Results (Q2FY25) and half-yearly results (H1FY24). The stock gave multibagger returns of 130 per cent in just 1 year whereas BSE Small-Cap Index is up by 9 per cent. Investors should keep an eye on this stock.

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