Polymer products manufacturer Time Technoplast on Tuesday said it has received an order worth about ₹115.56 crore from a public sector undertaking for the supply of Type-IV composite CNG cylinders configured as mobile storage cascades for deployment across city gas distribution (CGD) networks in India.
Time Technoplast said the order reflects increasing adoption of lightweight composite gas storage systems as India expands its natural gas and clean-energy infrastructure.
The company noted that its CNG composite segment generated about ₹395 crore in revenue in FY25, indicating strong demand.
The company added that policy support for gas-based energy and expansion of CGD networks is expected to drive growth in the composite cascade market, which it estimates at around ₹1,500 crore in India, providing a long-term growth opportunity for the business.
The order will be executed within one year, per the regulatory filing.
The company operates across 20 manufacturing locations in India.
The company opened a new facility in Saudi Arabia for IBC and plastic drum production in January 2025 and completed a 90 per cent acquisition of a Taiwanese polymer firm by June 2025.
A greenfield project in Daman, India, to produce 1 million composite gas cylinders began production in May 2025. It also launched Type-III cylinders for breathing air and medical oxygen.
