Post completion of the transaction, Systoverse will become a subsidiary of TTL, while the remaining 24% stake will continue to be held by existing shareholders. The deal is expected to close within 30 days of execution.
The total projected investment for the transaction is approximately Rs 25 crore, which includes the acquisition cost along with planned expenditure towards plant upgradation, modernization, capacity expansion, and capital expenditure on plant and machinery. The transaction will be funded through cash consideration via cheque, NEFT, or RTGS.
Incorporated on January 21, 2022, Systoverse is engaged in the manufacture of ISI-certified HDPE pipes and sprinkler systems under the brand name 'Systo'. The company operates a manufacturing facility at Nardana Industrial Area (Phase-II), MIDC Nardana, Dhule, Maharashtra, with an installed capacity of 3,600 metric tonnes per annum.
The acquisition aligns with TTL's strategy to strengthen its HDPE pipe portfolio, accelerate inorganic growth, and expand its operational presence in Maharashtra, while enhancing its presence in the domestic pipe industry. The move also supports the company's focus on delivering efficient and sustainable piping solutions under the Government of India's 'Make in India' initiative.
For the financial year ended March 31, 2026, Systoverse reported a turnover of Rs 1.41 crore and net worth of Rs 2.23 crore. The company had posted turnover of Rs 3.91 crore in FY25 and Rs 26.88 crore in FY24.
Time Technoplast is a global manufacturer of polymer products with operations across multiple countries. Its portfolio spans industrial packaging solutions, lifestyle products, automotive components, infrastructure / construction related products, material handling solutions & composite cylinders.
Time Technoplast has reported 20.4% rise in consolidated net profit to Rs 131.84 crore on a 14.2% increase in revenue from operations to Rs 1,676.67 crore in Q4 FY26 over Q4 FY25.
The scrip fell 1.21% to Rs 166.80 on the BSE.
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