Time Technoplast has received final approval from the Petroleum and Explosives Safety Organization (PESO) to manufacture and supply high-pressure Type-IV composite cylinders for hydrogen. This makes them the first company in India to get such approval.
This approval is a big step for the company towards sustainable green energy. The company believes this will help them grow in the green energy market. They are excited about the future and how this technology will benefit the industry and the environment.
On March 19, 2024, Time Technoplast got prototype approval for these hydrogen cylinders. They then submitted the cylinders for joint testing and inspection, leading to the final approval.
Time Technoplast makes polymer and composite products. They offer a variety of technology-based products for industrial and consumer use, including packaging, lifestyle products, auto components, healthcare products, and construction materials. Their products include drums, containers, pails, pet sheets, mats, garden furniture, automotive parts, medical disposables, and warning nets.
The company’s net profit rose 45.3% to Rs 92.35 crore in Q4 FY24 compared to Rs 63.57 crore in Q4 FY23. Revenue from operations increased 16.9% year-on-year to Rs 1,394.32 crore in Q4 FY24.
