Time Technoplast Limited executed a Share Purchase Agreement on June 10, 2026, to acquire a 76% stake in Systoverse Private Limited for a cash consideration of ₹1.52 crore. This strategic move, valued at approximately ₹25 crore including capital expenditure, aims to strengthen the company’s High-Density Polyethylene (HDPE) Pipe portfolio and establish an operational presence in Maharashtra. The transaction is expected to close within 30 days from the execution of the agreement.
Acquisition Details
The acquisition will be funded entirely through cash via cheque, NEFT, or RTGS. Post-acquisition, Systoverse Private Limited will become a subsidiary of Time Technoplast Limited, while the remaining 24% stake will continue to be held by existing shareholders. The total projected investment of ₹25 crore encompasses the equity stake acquisition and expenditure towards plant upgradations, modernization, capacity expansion, and capital expenditure for plant and machinery.
Key details of the acquisition are outlined below:
| Parameter: | Details |
|---|---|
| Stake Acquired: | 76% |
| Cash Consideration: | ₹1.52 crore |
| Total Projected Investment: | ₹25 crore (incl. capex) |
| Remaining Stake: | 24% (existing shareholders) |
| Transaction Closure: | Within 30 days of agreement |
| Mode of Payment: | Cheque / NEFT / RTGS |
Target Entity Profile
Systoverse Private Limited is a Maharashtra-based company incorporated on January 21, 2022. It is engaged in the manufacturing of ISI-certified HDPE Pipes and Sprinkler Systems under the brand name ‘Systo‘. The entity operates a plant located at Nardana MIDC, Dhule, with an annual pipe manufacturing capacity of 3,600 Metric Tonnes. The target entity is not a related party of Time Technoplast Limited, and no promoter or promoter group companies hold any interest in it.
Financial Performance
For the financial year ended March 31, 2026, Systoverse Private Limited reported a net worth of ₹2.23 crore and a turnover of ₹1.41 crore. The table below presents the historical turnover of Systoverse:
| Financial Year: | Turnover (approx.) (₹ in Crores) |
|---|---|
| 2025-2026: | 1.41 |
| 2024-2025: | 3.91 |
| 2023-2024: | 26.88 |
Strategic Rationale
The acquisition aligns with Time Technoplast Limited’s strategy to accelerate inorganic growth and augment capacity in the same line of business. By combining sustainability with innovation, the company aims to offer efficient, durable, and easy-to-handle pipe solutions. This expansion reinforces its commitment to the Government of India’s ‘Make in India‘ initiative and strengthens its position within the domestic pipe industry.
Historical Stock Returns for Time Technoplast
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| –2.56% | –4.00% | –12.11% | –12.95% | –24.82% | +286.60% |
Make in India , Time Technoplast Systoverse Private Limited
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