Time Technoplast: First Indian Approval for 250‑Litre Type IV Hydrogen Cylinders

Date: 29 April 2026 | Source: SEBI Regulation 30 filing

Key Highlights

• Regulatory Milestone: PESO approved the design and manufacture of 250‑litre, high‑pressure (350‑700 bar) Type IV composite hydrogen cylinders for buses, trucks and trailers.
• First‑Mover Advantage: Time Technoplast becomes the first Indian company with this clearance, enabling early entry into the green‑hydrogen mobility ecosystem.
• Prototype Timeline: Initial prototype cylinders to be produced for joint inspection; validation expected within 90 days.
• Existing Portfolio: Prior approvals for 150‑litre Type IV cylinders and Type III cylinders for drones, demonstrating a broad composite capability.
• Financial Snapshot: Composite segment revenue of ₹555 crore in 9MFY26, reflecting strong market traction.
• Capacity Expansion: New fully‑automated plant at Morai (near Vapi, Gujarat) commissioned for CNG and hydrogen cylinder production.

Strategic Implications

• Market Positioning: The approval aligns the company with India’s green hydrogen roadmap and the push for zero‑emission public transport.
• Revenue Upside: Potential to capture a sizable share of the emerging hydrogen‑fuel vehicle market, which could translate into multi‑digit revenue growth as OEMs and fleet operators adopt hydrogen solutions.
• Cost Efficiency: Type IV composite cylinders are lighter than traditional metal cylinders, offering operational cost savings for end‑users and a compelling value proposition.
• Technology Leadership: Demonstrates advanced composite engineering capabilities, opening doors for further collaborations in aerospace, defense, and specialty applications.

Risks & Considerations

• Execution Risk: Successful prototype validation and scaling of production within the projected timeline are critical.
• Capital Expenditure: The new Morai facility entails significant CAPEX; cash flow management will be essential.
• Demand Uncertainty: Adoption of hydrogen‑fuelled buses and trucks depends on policy incentives, infrastructure rollout, and competitive technologies (e.g., electric batteries).
• Regulatory Changes: Future safety or environmental regulations could affect certification processes or product specifications.

Outlook for Investors

• Growth Potential: With first‑mover status and a robust manufacturing base, the company is well‑placed to benefit from the anticipated rise in hydrogen‑fuel vehicle deployments.
• Financial Impact: Incremental revenue from the 250‑litre cylinder line could enhance the composite segment’s contribution to overall earnings, potentially improving margins given the higher value‑add nature of hydrogen products.
• Monitoring Points: Track prototype validation results, order pipelines from transport OEMs, and any government policy updates on hydrogen infrastructure.

Prepared for investors seeking insight into Time Technoplast’s strategic move into the hydrogen mobility space.