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Gas Economy Goal Fuels 80% Surge in Top Indian Cylinder Maker

  • Everest Kanto’s second-quarter revenue was highest in 11 years
  • Sees benefits from government push to boost CNG stations
Views Of The ONGC Uran Plant Ahead Of Earnings
Photographer: Dhiraj Singh/Bloomberg

Everest Kanto Cylinder Ltd., India’s biggest maker of high-pressure gas cylinders used for automobiles and industrial storage, sees demand increasing as the nation pushes use of the cleanest fossil fuel to improve its air.

The Mumbai-based company aims to benefit from the government’s plan to increase the number of compressed natural gas stations in the country to 10,000 over the next five years, Managing Director Puneet Khurana said on a briefing call Nov. 26. India now has about 2,300 outlets.