Time Technoplast bags ₹38 cr HPCL cylinder order, modest by its scale
The supply of 1.4 lakh composite LPG cylinders to HPCL is a routine commercial win, representing well under 1% of annual revenue for the ₹8,988-cr company.
— 2 earlier stories on Time Technoplast Ltd. →What's new
- Won a GeM contract from HPCL for 1,40,000 Type IV composite LPG cylinders.
- Order worth ₹38.14 crore, execution within six months.
- Follows HPCL's earlier pilot with Instamart for composite cylinders.
Why this matters
Composite LPG cylinders are a growth area, but at ₹38 cr this order is too small to move the needle. For a company with quarterly sales of ₹1,677 crore, it's a routine addition to the order book. The real story is the broader adoption trend, not this specific contract.
What we're watching
- Whether HPCL and other OMCs scale up composite cylinder procurement meaningfully.
- Time Technoplast's asset sale progress, a more material catalyst per June coverage.
- Competition from other cylinder manufacturers in the composite segment.
The full read
Time Technoplast has secured a ₹38.14 crore GeM contract from HPCL to supply 1.4 lakh composite LPG cylinders. It's the second data point validating adoption of lightweight cylinders by state-owned OMCs. But at less than 1% of the company's annual revenue, this is a routine commercial win, not a re-rating event. For a ₹8,988-cr market cap company, the stock's trajectory hinges on bigger moves like the asset sale plan flagged in June. The order is positive but incremental.
Questions answered
- How big is this order relative to Time Technoplast's revenue?
- At ₹38.14 crore, the order is less than 1% of the company's trailing annual revenue (approximately ₹6,700 cr based on latest quarter), making it a small win.
- What are Type IV composite LPG cylinders?
- They are lightweight, safer alternatives to traditional steel cylinders, made of composite materials. HPCL has been testing their adoption, including a quick-commerce pilot.
- Has Time Technoplast supplied to HPCL before?
- Yes, the company was involved in HPCL's earlier pilot with Instamart for on-demand composite cylinder delivery, as covered in July 2026.
- Does this order change the outlook for Time Technoplast?
- No. The order is routine and modest in size. The company's near-term catalysts are more likely related to its asset sale plan mentioned in June 2026.
Time Technoplast Ltd.
Latest quarter · Mar 2026
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All notes on TIMETECHNO →- 17 Jul 2026 · 11:00 AM IST Time Technoplast bags ₹38 cr HPCL cylinder order, modest by its scale
- 12d ago Time Technoplast supplied cylinders for HPCL-Instamart pilot
- 55d ago Time Technoplast pushes back debt-free target, expands asset sale plan