Time Technoplast secures type-3 gas cylinder approval; Shares surge 5%

Synopsis:- Shares jumped about 5% after securing India’s first Type-3 composite gas cylinder approval. Q2 revenue rose 10% to ₹1,511 crore, profit increased 17% to ₹117 crore, while H1 cash flow of ₹2,256 million, 18.1% ROCE, and a strong global footprint underline improving fundamentals.

The shares of this polymer product manufacturer gained up to 5 percent in today’s trading session after the company received approval for the manufacture and supply of high-pressure Type-3 fully wrapped fibre-reinforced composite cylinders.

With a market capitalisation of Rs 9,727.09 crore, the shares of Time Technoplast Ltd were trading at Rs 196.95 per share, increasing around 5 percent as compared to the previous closing price of Rs 188.20 apiece.

PESO Approval

The shares of Time Technoplast Ltd have seen bullish movement after receiving approval from the Petroleum and Explosives Safety Organisation (PESO) and TÜV Rheinland (India) for the manufacture and supply of high-pressure Type-3 fully wrapped fibre-reinforced composite cylinders of 2-litre capacity for compressed gas applications.

Additionally, following this milestone approval, Time Technoplast Ltd became the first company in India authorised to manufacture cylinders for multiple high-pressure gases. The company already holds approvals for Type-3 composite oxygen and breathing air cylinders (6.8 litres), as well as hydrogen cylinders across Type-3 (6.8 litres) and Type-4 (150 litres) categories, strengthening its leadership in advanced composite solutions.

Moreover, the new PESO approval allows the cylinder to be used across multiple applications, including hydrogen and oxygen transportation, drone and storage systems, medical uses such as SCBA and hospital oxygen, and industrial gases like nitrogen, helium, argon, and CO₂. This broad clearance reinforces the company’s leadership in composite cylinders and supports the “Make in India, For the World” vision.

The company delivered a healthy performance in Q2FY26, with revenue increasing by 10 percent from Rs 1,371 crore in Q2FY25 to Rs 1,511 crore in Q2FY26, reflecting steady demand and execution. Further, during the same time frame, net profit jumped by 17 percent from Rs 100 crore to Rs 117 crore.

The company reported a strong H1FY26, generating  Rs 2,256 million in operating cash flows and reducing net debt by  Rs 564 million. CAPEX stood at  Rs 1,174 million, while CNG composite cylinders grew 22%. With ROCE at 18.1% and order books of  Rs 1,950–2,800 million, business momentum remains healthy.

The company has built a strong global footprint with manufacturing operations across 11 countries and 20 locations in India, ensuring proximity to customers and efficient supply. Its presence is backed by long-standing relationships with several global marquee clients across chemicals, FMCG, automotive, energy, and industrial segments, highlighting scale, credibility, and diversified demand.

Time Technoplast Ltd is a leading Indian multinational specialising in polymer and composite products. The company manufactures industrial packaging, composite cylinders, material handling solutions, and infrastructure products, serving diverse sectors such as chemicals, oil & gas, automotive, healthcare, and consumer goods across global markets.

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