Time Technoplast Limited (TTL) has officially announced the execution of a Share Purchase Agreement (SPA) on June 10, 2026, to acquire a controlling 76% equity stake in Systoverse Private Limited (SPL). This transaction follows a previous corporate intimation dated April 14, 2026. The strategic transaction is structured on a net asset basis entirely via cash consideration. The remaining 24% equity interest in the entity will continue to be held by the existing shareholders of SPL. This acquisition is positioned to be completed within 30 days from the date of the execution of the agreement.

The formal corporate disclosure outlines that the acquisition will involve a direct cash payout of Rs. 1.52 Crores to acquire the 76% total paid-up share capital of Systoverse Private Limited. However, Time Technoplast Limited’s total projected investment stands at approximately Rs. 25 Crores. This comprehensive budget includes the core equity acquisition cost along with capital expenditures earmarked for plant upgradations, modernization, capacity expansion, and the procurement of necessary plant and machinery. The primary object of this transaction is to augment manufacturing capacity, broaden geographic reach, and accelerate inorganic growth at a separate site. It will turn SPL into a subsidiary of TTL.

Systoverse Private Limited is a Maharashtra-based company with its manufacturing plant located at the Nardana MIDC industrial area in Dhule. The company is engaged in the manufacturing of ISI-certified High-Density Polyethylene (HDPE) pipes and sprinkler systems under the brand name ‘Systo’. It possesses an annual pipe manufacturing capacity of 3,600 Metric Tonnes (M.T.). For the financial year ended March 31, 2026, SPL registered a turnover of Rs. 2.23 Crores and a net worth of Rs. 1.41 Crores. The company had previously recorded a turnover of Rs. 3.91 Crores in FY 2024-2025 and Rs. 26.88 Crores in FY 2023-2024. This integration will allow TTL to strengthen its domestic pipe industry footprint and offer advanced solutions aligned with the ‘Make in India’ initiative.

During the fiscal year 2025, Time Technoplast Limited exhibited strong financial performance from the web data. The company reported a total consolidated revenue of approximately Rs. 5,457 Crores for FY25, representing a steady growth of over 9% compared to the previous fiscal year. The company’s net profit for the fiscal year 2025 also expanded remarkably to reach Rs. 388 Crores, highlighting an increase of 25% year-over-year. In terms of recent developments in 2025, the company announced a milestone 1:1 bonus share issuance to reward its existing shareholders and enhance liquidity in the stock market. Prominent institutional and retail investors continue to maintain a solid foothold in the company’s shareholding pattern.