TIL Limited (NSE: TIL), a leading manufacturer of material handling and infrastructure equipment in India, has approved the acquisition of a 60 percent stake in Tulip Compression Private Limited (TCPL), marking its accelerated entry into the clean energy manufacturing ecosystem. The acquisition remains subject to shareholder and regulatory approvals, as applicable.
TIL will acquire TCPL from its affiliate, Gainwell Commosales Private Limited (GCPL), with an option to increase its holding to 74 percent. The strategic investment expands TIL’s product portfolio into CNG, LNG and Hydrogen fuel equipment manufacturing, enabling end-to-end capabilities in clean energy solutions.
The acquisition provides TIL access to LNG and hydrogen powerpacks for material handling equipment, along with specialised manufacturing capabilities in large-scale cryogenic LNG storage tanks, oil and gas process vessels, and skids. At the same time, TCPL’s equipment packaging and assembly business will benefit from backward integration into TIL’s in-house engineering and manufacturing infrastructure, creating operational synergies for both entities.
TIL brings over eight decades of engineering and manufacturing expertise, operating two certified facilities in Eastern India, a mobile crane manufacturing unit in Kamarhati, Kolkata, and a 150-acre integrated manufacturing facility in Kharagpur. The integration is expected to enable TCPL to internalise production of high-end fabrication assemblies, ensuring better quality control, timely availability of components, and improved competitiveness in a rapidly evolving energy market.
Commenting on the development, Sunil Kumar Chaturvedi, Chairman and Managing Director, TIL Limited, said the acquisition is a force multiplier under the company’s transformation strategy. He noted that it widens TIL’s product range and strengthens its presence in oil and gas and transportation sectors, while accelerating efforts to decarbonise both existing and upcoming product lines.
Alok Kumar Tripathi, President and Whole Time Director, TIL Limited, said the move aligns with the company’s goal of offering complete engineering solutions. He added that diversification into LNG and hydrogen powerpacks, cryogenic storage and advanced oil and gas solutions will enhance value chain control and unlock strong growth synergies.
Raj Kumar Sachdeva, Director, TCPL, said that TIL’s engineering legacy and manufacturing infrastructure will significantly strengthen TCPL’s product development roadmap. He stated that the integration will enable faster development cycles, improved quality standards and stronger positioning in hydrogen compression systems and LNG solutions as India advances its clean energy transition.
Headquartered in Delhi, TCPL operates two manufacturing facilities in Greater Noida and has established a strong presence across India’s clean energy segment. The company’s portfolio includes the Composite CNG Dispensing Unit, hydrogen compression systems, and the Freespin Inline Turboexpander developed in partnership with Sapphire Technologies, USA. TCPL has delivered over 600 online CNG compressors to India’s City Gas Distribution industry and aims to scale production to over 200 compressor packages annually, driven by demand aligned with PNGRB’s minimum work programme.
The transaction positions TIL to strengthen its footprint in the emerging clean energy manufacturing ecosystem while leveraging engineering synergies to capture growth opportunities in hydrogen, LNG and CNG infrastructure.
