FCC

TIL Acquires 60% Stake in Tulip Compression

2026-02-18

TIL has approved the acquisition of a 60 per cent stake in Tulip Compression Private Limited (TCPL), marking its strategic entry into the clean energy manufacturing ecosystem. The transaction, subject to shareholder and regulatory approvals, includes an option to increase the stake to 74 per cent. TIL will acquire TCPL from its affiliate, Gainwell Commosales. The move expands TIL’s portfolio with access to LNG and hydrogen powerpacks for material handling equipment, along with specialised manufacturing capabilities for large-scale cryogenic LNG storage tanks, oil and gas process vessels and skids.

The integration enables TCPL’s CNG, LNG and hydrogen equipment packaging business to leverage TIL’s in-house manufacturing infrastructure, strengthening backward integration and enhancing control over quality and delivery timelines. TIL operates two certified facilities in Eastern India — a mobile crane manufacturing plant in Kamarhati, Kolkata, and a 150-acre integrated facility in Kharagpur — bringing over eight decades of engineering expertise to the partnership.

Commenting on the development, Sunil Kumar Chaturvedi, Chairman & Managing Director, TIL, said the acquisition broadens the company’s product range across oil and gas and transportation sectors while accelerating its decarbonisation strategy. He added that the integration opens new energy and cryogenic markets for TIL in India and overseas.

Alok Kumar Tripathi, President & Whole-Time Director, TIL, stated that the transaction aligns with the company’s goal of delivering comprehensive engineering solutions, while strengthening value chain control through backward integration.

Raj Kumar Sachdeva, Director, TCPL, noted that TIL’s heavy engineering capabilities will support faster product development cycles and improved quality standards as India advances its clean energy transition.

Headquartered in Delhi, TCPL operates two manufacturing units in Greater Noida and has delivered over 600 online CNG compressors to India’s City Gas Distribution sector. The company has also developed hydrogen compression systems and the Freespin® Inline Turboexpander in collaboration with Sapphire Technologies. With growing demand aligned to regulatory mandates of the Petroleum and Natural Gas Regulatory Board (PNGRB), TCPL aims to produce more than 200 compressor packages annually.