Time Technoplast has raised USD 83.7m (INR 800 crore) through a qualified institutions placement and approved a 1:1 bonus issue, alongside FY26 consolidated results showing revenue up 12% to USD 639.6m (INR 6,114 crore) and profit after tax up 21% to USD 49.1m (INR 469 crore). The industrial packaging and composites group also reported first-quarter FY27 revenue up 25% to USD 177.2m (INR 1,694 crore) and disclosed the June 2026 purchase of a 76% stake in Systoverse Private Limited. The figures were presented at its annual general meeting on 22 September 2026.
Why this mattersFresh equity capital alongside double-digit earnings growth expands the funding base for further capacity additions in industrial packaging and adjacent composite products.
- FY26 revenue rose 12% to USD 639.6m (INR 6,114 crore), EBITDA 14% to USD 94.3m (INR 901 crore) and PAT 21% to USD 49.1m (INR 469 crore).
- The QIP raised USD 83.7m (INR 800 crore) through 39,777,247 shares at INR 201.12 each, with proceeds for debt repayment, capital investment and working capital.
- The board approved a 1:1 bonus issue of 226,929,066 shares and recommended a final FY26 dividend of USD 0.02 (INR 1.50) per share.
- Q1 FY27 revenue rose 25% to USD 177.2m (INR 1,694 crore) with PAT up 22% to USD 12.2m (INR 117 crore).
- FY26 capital expenditure was USD 38.7m (INR 370 crore).
- Time Technoplast acquired a 76% stake in Systoverse Private Limited in June 2026.
Time Technoplast's board has approved in principle the merger of listed subsidiary TPL Plastech into the parent, subject to regulatory approval, as part of a group simplification. The Indian industrial packaging and composites group also reported Q1 FY27 consolidated net profit of USD 12.3m (INR 117.86 crore) on revenue of USD 176.7m (INR 1,693.8 crore), and won a USD 9.13m (INR 87.53 crore) order for composite CNG storage cascades. Management briefs investors in Mumbai on 21 September 2026.
Why this mattersThe proposed absorption of TPL Plastech simplifies Time Technoplast's group structure while the CNG storage order signals diversification beyond core industrial packaging.
- The board approved in principle the merger of listed subsidiary TPL Plastech into Time Technoplast, subject to regulatory approval.
- Q1 FY27 consolidated net profit rose to USD 12.3m (INR 117.86 crore) from USD 9.92m (INR 95.10 crore) a year earlier.
- Q1 FY27 consolidated revenue from operations was USD 176.7m (INR 1,693.8 crore).
- The company won a USD 9.13m (INR 87.53 crore) order for Type IV composite CNG mobile storage cascades from a joint venture of two Maharatna public-sector enterprises.
- Analyst and investor meetings are scheduled in Mumbai on 21 September 2026.
- TPL Plastech shareholders approved the merger into Time Technoplast in principle on 22 September 2026, under Sections 230-232 of the Companies Act, 2013
- TPL Plastech shareholders approved related-party transaction limits of up to INR 925 crore with Time Technoplast for FY27-28 (INR 425 crore FY27, INR 500 crore FY28)
- TPL Plastech recommended a final FY26 dividend of INR 1.30 per share, up from INR 1.00, after FY26 revenue rose 20.9% to INR 422.7 crore and profit after tax rose 23.2% to INR 29.1 crore
- Share exchange ratio set at 403 Time Technoplast shares per 1,000 TPL Plastech shares held
- Scheme effective from 1 April 2026, pending NCLT and stock exchange approvals
- New share issuance of 7,901,516 shares represents about 1.6% dilution of Time Technoplast's capital
- TPL Plastech contributed about 6.9% of turnover and 6.2% of net profit in FY26
- Share-exchange ratio set at 403 Time Technoplast shares (face value Rs 1) for every 1,000 TPL Plastech shares (face value Rs 2), appointed date 1 April 2026.
- The merger would add 7,901,516 shares to Time Technoplast's equity base, lifting outstanding capital about 1.6 per cent to 501,536,895 shares.
- TPL Plastech's FY2026 consolidated turnover was USD 44.1m (Rs 422.66 crore) with net profit of USD 3.03m (Rs 29.07 crore), about 6.9 per cent and 6.2 per cent of the parent's figures.
- Promoter group ownership in Time Technoplast is expected to fall to 46.73 per cent from 47.47 per cent once the merger shares are issued.
- Board approved the merger scheme on 29 September 2026 with an appointed date of 1 April 2026
- Share swap ratio set at 403 Time Technoplast shares per 1,000 TPL Plastech shares held by minority holders
- Time Technoplast to issue about 7,901,516 new shares, lifting equity capital by roughly 1.6% to 501,536,895 shares
- Promoter holding stays at 234,345,608 shares but falls to 46.73% from 47.47% as capital base expands
Time Technoplast has completed a greenfield plant at Bhilad, Gujarat, for conical polymer pails and injection-moulded packaging, with production due to start on 25 September 2026. The fully automated, robotics-equipped facility has an annual capacity of 6,000 tonnes and cost approximately INR 24 crore, with expected turnover of about INR 100 crore at 90% utilisation.
Why this mattersAn INR 24 crore line carrying about INR 100 crore of turnover at 90% utilisation adds Indian industrial pail capacity at low capital intensity.
- Plant located at Bhilad, Gujarat, India, completed within scheduled time.
- Production start scheduled for 25 September 2026.
- Annual production capacity is 6,000 tonnes for conical polymer pails and injection-moulded products.
- Investment of approximately INR 24 crore.
- Expected turnover of approximately INR 100 crore at 90% capacity utilisation.
- Facility is fully automated and uses robotics to cut human intervention and administrative costs.
