Time Technoplast to Acquire 76% Stake in Systoverse

Time Technoplast Ltd executed an MoU to acquire a 76% stake in Systoverse Pvt Ltd, subject to due diligence, for inorganic growth.
SPL has a 3,600 MT annual HDPE pipe capacity and reported ₹26.88 Cr turnover in FY24, operating from Dhule, Maharashtra.
The acquisition provides TTL a strategic presence in Maharashtra with SPL's BIS certification, MJP empanelment, and tax benefits.
SPL benefits from a 15% corporate tax rate under Section 115BAB and state subsidies on power, SGST, and interest.