Time Technoplast Acquires 76% Stake in Systoverse to Expand HDPE Pipe Business

Time Technoplast Limited (TTL) has acquired a 76% equity stake in Maharashtra-based Systoverse Private Limited (SPL) for a total projected investment of approximately ₹25 Crore. The deal, finalized on June 10, 2026, will make SPL a subsidiary of TTL. Deal Structure & Target Profile: Investment Breakdown: The ₹25 Crore covers the equity purchase (cash consideration of ₹1.52 Crore for the 76% stake) and capital expenditure for plant modernization and capacity expansion. Target Business: SPL manufactures ISI-certified HDPE pipes and sprinkler systems under the brand ‘Systo’, with an annual capacity of 3,600 Metric Tonnes. Financials (FY26): Turnover of ₹1.41 Crore and a Net Worth of ₹2.23 Crore. Strategic Rationale: Inorganic Growth: Accelerates TTL’s expansion in the HDPE pipe segment by instantly adding manufacturing capacity and an established product portfolio. Geographic Expansion: Establishes a stronger operational footprint in the high-growth Maharashtra market. Make in India: Aligns with national initiatives to consolidate TTL's leadership in the domestic pipes and plastics industry. Governance & Execution: The transaction is an arm's-length deal with no related-party or promoter-group involvement. The acquisition is expected to be completed within 30 days, with the remaining 24% stake retained by existing SPL shareholders.