Time Technoplast Wins ₹38.14 Crore HPCL Contract for Composite LPG Cylinders

Time Technoplast Ltd. has secured a ₹38.14 crore order from Hindustan Petroleum Corporation Limited (HPCL) for the supply of 1,40,000 Type IV Composite LPG Cylinders. The contract, awarded through the Government e-Marketplace (GeM) platform, is to be executed within six months and marks another significant milestone in the growing adoption of lightweight composite LPG cylinders across India.

The order supports HPCL's expanding distribution strategy for composite LPG cylinders, including its recently introduced quick-commerce delivery model, which aims to provide consumers with faster and more convenient LPG cylinder deliveries. The development further strengthens Time Technoplast's leadership in India's composite cylinder market and reflects the increasing demand for safer and next-generation LPG storage solutions.

Key Highlights

Particulars	Details
Company	Time Technoplast Ltd.
Customer	Hindustan Petroleum Corporation Limited (HPCL)
Order Value	Approximately ₹38.14 crore
Product	Type IV Composite LPG Cylinders
Quantity	1,40,000 units
Cylinder Capacity	10 kg
Order Platform	Government e-Marketplace (GeM)
Execution Timeline	Within 6 months
Nature of Contract	Domestic Supply Order

Order Details

The latest contract involves the supply of 1.4 lakh Type IV Composite LPG Cylinders, which are increasingly being adopted by India's oil marketing companies because of their lightweight design, enhanced safety, corrosion resistance, and improved consumer convenience.

Order Parameter	Details
Product	Type IV Composite LPG Cylinders
Quantity	1,40,000 Cylinders
Capacity	10 kg each
Contract Value	₹38.14 crore
Customer	HPCL
Delivery Schedule	Within six months

The order reinforces Time Technoplast's position as one of India's leading manufacturers of advanced composite LPG cylinders.

Why Composite LPG Cylinders Are Gaining Popularity

Composite LPG cylinders are emerging as a modern alternative to traditional steel cylinders due to their superior safety features and ease of handling. These cylinders are lighter, corrosion-resistant, blast-resistant, and transparent enough to allow consumers to monitor gas levels more conveniently.

Feature	Benefit
Lightweight Design	Easy transportation and handling
Corrosion Resistant	Longer operational life
Explosion Resistant	Enhanced consumer safety
Translucent Body	Easy visibility of LPG levels
Maintenance	Lower lifecycle costs

The increasing preference for composite cylinders aligns with India's broader efforts to modernize LPG distribution infrastructure and improve customer experience.

HPCL's Quick-Commerce LPG Initiative

The order gains additional significance as HPCL has recently introduced an innovative quick-commerce-based LPG cylinder distribution model for composite cylinders. Under this initiative, consumers can order composite LPG cylinders through selected quick-commerce platforms, enabling faster doorstep deliveries.

This customer-centric distribution model is expected to improve accessibility while accelerating the adoption of next-generation LPG cylinders in urban markets.

Business Impact for Time Technoplast

The HPCL order is expected to strengthen Time Technoplast's order book and reinforce its leadership in the composite LPG cylinder segment. Growing adoption by public sector oil marketing companies could create additional opportunities for future orders as India's LPG distribution network continues to evolve.

The contract also highlights increasing industry confidence in composite cylinder technology and supports the company's long-term growth strategy in high-value industrial packaging and energy infrastructure solutions.

Business Impact	Expected Outcome
Revenue Visibility	Strengthened order pipeline
Market Position	Reinforces leadership in composite LPG cylinders
Customer Base	Expands engagement with leading oil marketing companies
Growth Opportunity	Higher demand for modern LPG storage solutions

Regulatory Details

Time Technoplast stated that the contract has been awarded by a domestic entity and does not constitute a related-party transaction.

Regulatory Information	Details
Awarding Entity	Hindustan Petroleum Corporation Limited (HPCL)
Contract Type	Domestic Supply Contract
Related Party Transaction	No
Promoter Interest	None
Disclosure	Regulation 30 of SEBI (LODR) Regulations, 2015

Why This Order Matters

India's oil marketing companies are increasingly shifting towards composite LPG cylinders as part of efforts to improve consumer safety, operational efficiency, and distribution convenience. Government-backed initiatives promoting cleaner and more efficient energy infrastructure are expected to further support demand for advanced LPG storage solutions.

For Time Technoplast, the latest HPCL contract demonstrates continued execution capability and positions the company to benefit from the expanding adoption of composite cylinders across both retail and commercial LPG markets.

Historical Stock Returns

Period	Returns
1 Day	+2.32%
5 Days	+15.55%
1 Month	+14.09%
6 Months	+13.91%
1 Year	-9.31%
5 Years	+388.11%

Outlook

The ₹38.14 crore HPCL order highlights the growing acceptance of composite LPG cylinders in India's energy ecosystem. As oil marketing companies continue investing in safer, lightweight, and technology-driven LPG distribution models, Time Technoplast is well-positioned to benefit from rising demand in this niche manufacturing segment.

Investors will also monitor future order inflows from HPCL and other public sector oil marketing companies, as increasing adoption of composite cylinders could provide sustained revenue visibility over the coming years.

1. What order has Time Technoplast received?

Time Technoplast has secured a ₹38.14 crore contract from HPCL to supply 1,40,000 Type IV Composite LPG Cylinders.

2. How many LPG cylinders will Time Technoplast supply?

The company will supply 1.4 lakh composite LPG cylinders, each with a 10 kg capacity.

3. How long will the company take to execute the order?

The order is scheduled to be completed within six months.

4. Why are composite LPG cylinders becoming popular?

Composite LPG cylinders are lighter, corrosion-resistant, safer than conventional steel cylinders, and provide greater convenience for consumers.

5. Is the HPCL contract a related-party transaction?

No. The company has confirmed that the contract is not a related-party transaction, and its promoter group has no interest in the awarding entity.