Rs 375 crore order book: This cylinder manufacturing company bags new order worth Rs 67.21 crore from A reputed Government-Owned OMC
The stock gave multibagger returns of 180 per cent in just 1 year whereas BSE Small-Cap Index is up by 44.3 per cent.
Time Technoplast Limited has secured a significant contract from a reputable government-owned Oil Marketing Company (OMC) to supply Type IV CNG/CBG Mobile Storage Cascades. The total basic value of this order is approximately INR 67.21 crores. The order was awarded domestically and is expected to be executed within 10 weeks from the date of the purchase order or call-off. The supply of these cascades aligns with the company's expertise in providing innovative solutions for the transportation and storage of compressed natural gas (CNG) and compressed biogas (CBG), contributing to sustainable energy initiatives.
On Monday, shares of Time Technoplast Ltd plunged 0.51 per cent to Rs 403.20 per share with an intraday high of Rs 409.75 and an intraday low of Rs 389.95 from its previous closing of Rs 405.25. The stock’s 52-week high is Rs 428.90 while its 52-week low is Rs 138.35.
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Time Technoplast Ltd, a multinational conglomerate, leads the market in manufacturing large plastic drums and composite cylinders. Their focus is industrial packaging, with a strong domestic presence and cost-plus pricing. While they also produce infrastructure, lifestyle, and automotive components, their high-growth value-added products are particularly noteworthy. Composite cylinders, a key innovation, are lighter, more durable, and safer than traditional metal options, positioning Time Technoplast for a strong future in the evolving energy landscape. The company’s order book as of June 30, 2024, stands at Rs 375 crore.
The company has a market cap of over Rs 9,000 crore and reported positive numbers in its Quarterly Results (Q1FY25) and annual results (FY24). The stock gave multibagger returns of 180 per cent in just 1 year whereas BSE Small-Cap Index is up by 44.3 per cent. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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