Time Technoplast Limited has entered into a Memorandum of Understanding (MoU) with promoters of Systoverse Private Limited (SPL) to acquire a 76% stake on a net asset basis. The strategic acquisition aims to strengthen the company's High-Density Polyethylene (HDPE) pipe portfolio and drive inorganic growth through expanded manufacturing capabilities in Maharashtra.

Acquisition Overview

The proposed transaction involves acquiring a majority stake in SPL while allowing existing shareholders to retain 24% ownership. The acquisition remains subject to customary due diligence, including financial, legal, tax, and regulatory assessments.

Target Company Profile

Systoverse Private Limited operates from Nardana MIDC, Dhule, Maharashtra, and specializes in manufacturing ISI-certified HDPE pipes and sprinkler systems under the 'Systo' brand. The company maintains a pipe manufacturing capacity of 3,600 metric tonnes annually.

Financial Performance

SPL's turnover for the last three financial years demonstrates varying performance:

Strategic Benefits and Synergies

The acquisition offers multiple strategic advantages for Time Technoplast Limited's expansion plans. SPL brings established regulatory approvals and operational readiness, including Bureau of Indian Standards (BIS) certification and empanelment benefits with Maharashtra Jeevan Pradhikaran (MJP).

Key Advantages

• Regional Expansion: Establishes operational presence in Maharashtra for faster market penetration
• Tax Benefits: SPL qualifies for 15% corporate tax rate under Section 115BAB of Income Tax Act
• State Incentives: Benefits from power tariff subsidies, SGST benefits, and interest subsidies
• Infrastructure: Long-term lease arrangements for factory and land at attractive rates
• Compliance: Fully compliant and investment-ready with all regulatory approvals

Current Infrastructure Portfolio

Time Technoplast Limited's Infrastructure offerings generated approximately ₹280.00 crores in 9MFY26 compared to ₹265.00 crores in 9MFY25, with PE Pipe business forming part of this segment. The company operates four manufacturing facilities across India, including locations in Silvassa, Gummidiipoondi, Medchal, and Amta.

Regulatory Compliance

The transaction falls under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. SPL is not a related party of Time Technoplast Limited, and promoter groups have no interest in the entity being acquired. No additional governmental or regulatory approvals are required for completion of the acquisition.

Time Technoplast Limited has submitted its quarterly compliance certificate to NSE and BSE under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The certificate, received from registrar MUFG Intime India Pvt. Ltd., confirms proper handling of securities dematerialisation processes during the quarter.

Regulatory Filing Details

The company filed the certificate on April 8, 2026, with both National Stock Exchange of India Ltd. and BSE Limited. The submission was made by Manoj Kumar Mewara, Sr. VP Finance & Company Secretary, addressing compliance requirements under SEBI's depository regulations.

Registrar Confirmation

MUFG Intime India Pvt. Ltd., serving as the company's Registrar and Share Transfer Agent, issued the confirmation certificate on April 3, 2026. The certificate was signed by Ashok Shetty, Sr. Vice President-Corporate Registry, confirming compliance with prescribed timelines and procedures.

Key Compliance Confirmations

The registrar's certificate confirms several critical aspects of securities handling during Q4 FY26:

• Dematerialisation Process: Securities received from depository participants were properly confirmed (accepted/rejected) to depositories
• Listing Compliance: Securities in certificates have been listed on stock exchanges where earlier issued securities are listed
• Timeline Adherence: Security certificates were confirmed/rejected within prescribed timelines
• Record Management: Depository names were substituted in the register of members as registered owners

Corporate Structure

Time Technoplast Limited operates with CIN L27203DD1989PLC003240, maintaining its registered office in Nani Daman and corporate office in Mumbai. The company's nationwide presence includes operations across Bangalore, Chennai, Delhi, Hyderabad, and Kolkata, supporting its comprehensive business activities.