Time Technoplast has won a significant order worth ₹38.14 crore from Hindustan Petroleum Corporation Limited (HPCL) for 1.4 lakh composite LPG cylinders. This order highlights the company's strength in composite cylinders and aligns with modern LPG delivery models.
Time Technoplast Secures ₹38.14 Crore Order for Composite LPG Cylinders from HPCL
Time Technoplast will supply 1,40,000 units of 10 kg Type IV Composite LPG Cylinders to Hindustan Petroleum Corporation Limited (HPCL). The order is valued at ₹38.14 crore and is to be completed within six months. ## What just happened Time Technoplast Ltd. announced it has secured a contract from Hindustan Petroleum Corporation Limited (HPCL) through the Government e-Marketplace (GeM) portal. The order entails the supply of 1,40,000 units of 10 kg Type IV Composite LPG Cylinders. The total value of this contract stands at approximately ₹38.14 crore. The company has committed to fulfilling this order within a timeline of six months. ## Why this matters This contract is significant as it comes from a major Public Sector Undertaking (PSU) like HPCL, validating Time Technoplast's product capabilities and market demand for its composite cylinders. The order also aligns with HPCL's strategy to use quick-commerce platforms for faster consumer delivery, indicating a shift towards modern retail distribution for LPG. This reinforces Time Technoplast's leadership in the composite cylinder segment and suggests potential for recurring business as the industry moves towards safer, lighter, and more convenient composite cylinders. ## The backstory Time Technoplast has been a player in the composite cylinder market, focusing on innovation and safety. The company's Type IV composite cylinders are designed to be lighter and safer than traditional steel cylinders. This order from HPCL signifies a growing acceptance and adoption of these advanced cylinders by major oil marketing companies in India. ## What changes now The immediate impact is clear revenue visibility for Time Technoplast over the next six months. It also strengthens the company's market position and provides a strong reference case for securing similar orders from other oil marketing companies looking to upgrade their cylinder infrastructure. The successful execution could pave the way for larger, long-term contracts. ## Risks to watch Execution risks, including timely procurement of raw materials and manufacturing capacity, need to be managed to meet the six-month deadline. Any delays could impact profitability and client relations. Dependence on PSU orders also presents a risk if future contracts are not secured. ## Peer comparison While specific composite cylinder manufacturers are not detailed, the broader LPG cylinder market includes traditional steel cylinder manufacturers and other composite cylinder players. Time Technoplast's focus on Type IV composite cylinders and its ability to secure PSU contracts positions it as a key player in this evolving segment. ## Context metrics * **Order Value:** ₹38.14 crore * **Quantity:** 1,40,000 units * **Product:** 10 kg Type IV Composite LPG Cylinders * **Execution Timeline:** Within 6 months ## What to track next Investors should monitor the timely execution of this order and look for further contract wins from other oil marketing companies. The company's ability to scale production and maintain quality will be crucial. Tracking the broader industry trend towards composite cylinder adoption will also be important.
