Time Technoplast has achieved a significant regulatory milestone by receiving approval from the Petroleum and Explosives Safety Organization (PESO) and TÜV Rheinland (India) Pvt. Ltd. for manufacturing High-Pressure Type-3 Fully Wrapped Fibre Reinforced Composite Cylinders for compressed gases. The company announced this development through a regulatory filing, marking a historic achievement as the first company in India to receive such approval for various high-pressure gases.

Historic Achievement in Composite Cylinder Technology

This approval represents a groundbreaking achievement for Time Technoplast, making it the first company in India to receive approval for manufacturing high-pressure composite cylinders across multiple gas applications. The newly approved cylinders have a capacity of 2.00 litres and are designed for compressed gases applications. This milestone adds to the company's existing portfolio of composite cylinder approvals, which already includes Composite Oxygen and Breathing Air (Type-3) Cylinders for 6.80 litres capacity, as well as Composite Hydrogen Cylinders in both Type-3 (6.80 litres) and Type-4 (150.00 litres) configurations.

Comprehensive Application Coverage

The PESO approval provides blanket authorization for the approved cylinders across multiple high-value applications:

Strategic Market Position

The comprehensive approval significantly strengthens Time Technoplast's position as a leader in advanced composite cylinder technology. These composite cylinders form part of the company's value-added offerings, demonstrating its commitment to innovation, safety, and regulatory excellence. The approval aligns with the company's support for the "Make in India, For the World" initiative, positioning it to serve both domestic and international markets.

Regulatory Compliance and Safety Standards

The dual approval from both PESO, which serves as the nodal agency of the Government of India for petroleum and explosives safety, and TÜV Rheinland (India) Pvt. Ltd., a renowned international certification body, underscores the high safety and quality standards met by Time Technoplast's manufacturing processes. This regulatory endorsement validates the company's technical capabilities and manufacturing excellence in the specialized field of composite cylinder production.

Future Growth Prospects

With this approval, Time Technoplast is well-positioned to capitalize on the growing demand for lightweight, high-pressure composite cylinders across various industries. The diverse application range, from medical oxygen systems to hydrogen storage for clean energy applications, provides multiple revenue streams and market opportunities for the company's composite cylinder business segment.

Time Technoplast has announced a major business development with the securing of a substantial contract valued at approximately ₹510 crores. This significant contract win represents a notable milestone for the plastic products manufacturer.

Contract Details

The company has successfully secured this large-scale contract, though specific details regarding the contract duration, client identity, and project scope have not been disclosed in the announcement.

Business Impact

This contract represents a substantial addition to Time Technoplast's order book and is expected to contribute significantly to the company's revenue pipeline. The magnitude of this contract underscores the company's competitive capabilities in securing large-scale business opportunities within the plastic products industry.

Company Profile

Time Technoplast operates in the plastic products sector and has demonstrated its ability to compete for and win substantial contracts in its operational domain. This latest contract win reflects the company's market positioning and business development capabilities.