Press Release Mar 03 2022

Time Technoplast Limited has informed the Exchange about press release dated 03-Mar-2022 titled Prestigious single largest order for Type-IV LPG Composite Cylinder from Indian Oil Corporation Limited (IOCL)The Company is pleased to announce receipt of the most awaited single largest order of 7,58,814 Nos. cylinders of 10 kg capacity for a value of Rs. 180.0 crores (appx.) from Indian Oil Corporation Limited (IOCL), to be supplied over the next 12 months. This is for the first time in India that the Public Sector OMC has come out with such a large order for Type-IV LPG Composite Cylinders.Furthermore, IOCL has said that the same order quantity may be repeated at their discretion for a further period of up to 12 months, on same terms and conditions. Keeping with the growing demand for LPG Composite Cylinders both domestically and internationally, the Company plans to add additional 1.0 Million cylinder manufacturing capacity with a capital outlay of about Rs. 90 crores in the period of next 12-15 months.You are requested to take note of the same.

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