Key Quantitative Figures
The order is valued at approximately ₹87.53 Crores.
Parties Involved
The order was awarded by a well-established Public Sector Undertaking (PSU), which is described as a joint venture of two Maharatna PSUs. The specific name of the entity awarding the order is not disclosed.
Purpose and Product Details
The order is for the supply of Type IV Composite CNG Cylinders – Mobile Storage Cascades. These products are designated for deployment across the awarding PSU's CNG and City Gas Distribution (CGD) network. The stated purpose is to support the expansion of natural gas infrastructure for transport and industrial use within an unspecified state.
Significant Terms and Conditions
The order is domestic in nature and is to be executed within a time period of one year.
Regulatory and Market Context
The disclosure reinforces that Time Technoplast is India's first and only manufacturer with PESO (Petroleum and Explosives Safety Organisation) approval for Type IV Composite cylinders across LPG, CNG, and hydrogen applications. The company highlights the advantages of these cylinders over conventional steel cylinders, including lighter weight, higher gas-carrying capacity, corrosion resistance, and enhanced safety benefits.
Related Party Status
The company confirms that the promoter/promoter group/group companies do not have any interest in the entity that awarded the order. Furthermore, the order does not constitute a related party transaction.
Document and Company Reference
The disclosure was signed by Bharat Kumar Vageria, Managing Director (DIN: 00183629), and was made in reference to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/p/CIR/2023/123 dated July 13, 2023.
#Tags: #TimeTechnoplast #OrderWin #SEBIRegulation30 #CNG #CompositeCylinders #Positive