The company holds a market share of over 55% in the domestic industrial packaging segment, is the largest manufacturer of large-size plastic drums, the 2nd largest manufacturer of composite cylinders, and the 3rd largest manufacturer of Intermediate Bulk Containers (IBCs) globally, while being the 2nd largest manufacturer of MOX film in India and a market leader in 9 out of the 11 countries where it operates. As a multinational conglomerate with operations in 11 countries, it has become the world's second-largest manufacturer of composite cylinders, serving over 900 institutional customers.
Cyborg Score Rationale
The company has delivered a poor sales growth of 8.81% over past five years with a low return on equity of 12.4% over last 3 years. However, in fiscal year 2025, revenue was 54.61 billion with 9.32% growth and earnings increased 24.97%. Recent developments in composite cylinders and battery partnerships show strategic diversification.
Top Insights
Time Technoplast received government approval for Type 3 Fibre Composite Cylinders catering to medical, drone, lab, and transport sectors.
PowerBuild Batteries, a subsidiary, partnered with Monbat AD to exclusively distribute advanced VRLA battery solutions in India for data centres, IT infrastructure, and BFSI institutions.
Time Technoplast tested India's first hydrogen-powered drone using Type-III composite cylinders, marking a major step in sustainable aviation technology.
The company partnered with Poppe + Potthoff GmbH and Imperial Auto for hydrogen solutions, focusing on clean energy growth and improving hydrogen infrastructure.
Named Competitors
Industrial Plastic Drums and Packaging — Local competitors in industrial packaging segment
Composite Cylinders Manufacturing — International competitors in high-pressure cylinder market
VRLA Battery Solutions — Competitors in stationary power and reserve power batteries
Recent Developments
(February 2026) Timely repayment of commercial paper maturing on February 2, 2026
(February 2026) Type 3 Fibre Composite Cylinders government approval for medical and drone applications
(January 2026) PowerBuild Batteries partnership with European battery manufacturer Monbat AD
(December 2025) PESO approval for Type 3 composite cylinders strengthening portfolio
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