Key Quantitative Figures

  • Acquisition of 76% equity stake in Systoverse Private Limited on a net asset basis.
  • Total projected investment: ₹25 Crores (approximately).
  • Investment breakdown: Equity stake acquisition plus expenditure for plant upgradation, modernization, capacity expansion, and capex for plant and machinery.
  • Systoverse's pipe manufacturing capacity: 3,600 Metric Tonnes annually.
  • Systoverse's financials (Year ended March 31, 2026):
  • Net worth: Not quantified in disclosure
  • Turnover: Not quantified in disclosure
  • Historical turnover of Systoverse:
  • FY 2023-2024: ₹26.88 Crores
  • FY 2024-2025: ₹3.91 Crores
  • FY 2025-2026: ₹1.41 Crores
  • Acquisition consideration: ₹1.52 Crores (One Crore Fifty-Two Lakhs Only) payable via cheque/NEFT/RTGS.

Parties Involved

  • Acquiring company: Time Technoplast Limited ('TTL' or 'the Company').
  • Target company: Systoverse Private Limited ('SPL'), incorporated in Maharashtra, India.
  • Registered office of SPL: Plot No. T-15, Nardana Industrial Area (Phase-II), MIDC Nardana, Dhule, Maharashtra - 425404.
  • Plant location of SPL: Nardana MIDC, Dhule, Maharashtra, India.

Purpose and Rationale

  • Strengthen High-Density Polyethylene (HDPE) Pipe portfolio.
  • Accelerate inorganic growth.
  • Establish operational presence in Maharashtra.
  • Align with strategic plans and commitment to 'Make in India' initiative.
  • Combine sustainability with innovation.
  • Offer efficient, durable, and easy-to-handle pipe solutions.
  • Strengthen position within the domestic pipe industry.

Financial and Operational Impact

  • Post-acquisition structure: 76% stake held by Time Technoplast, 24% stake remains with existing shareholders.
  • SPL will become a subsidiary of TTL.
  • Business of SPL: Manufacturing of ISI-certified HDPE Pipes and Sprinkler Systems under the brand name 'Systo'.
  • Geographic presence: India only.

Related Party Status

  • SPL is not a related party of Time Technoplast Limited.
  • Acquisition does not qualify as a related party transaction.
  • No promoter/promoter group/group companies have any interest in SPL.

Additional Information

  • The disclosure includes Annexure A with required particulars under Regulation 30.
  • The acquisition is described as being done at 'arm's length' though not explicitly stated in the quantitative terms.