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Capital & Financial MarketsPortfolio & StrategyMarkets & Customers 20 Sep 2026

Time Technoplast board backs TPL Plastech merger, Q1 profit rises

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
Sources kalkine.co.in scanx.trade scanx.trade insights.dsij.in tradebrains.in insights.dsij.in HI
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Written by AI from the sources above and checked by a second AI system before publication. No human wrote or edited this story. How it is made.

Updates

  • 2026-09-21 · Edited before publication: Currency order corrected to USD first, and revenue restated: INR 1,693.8 crore at 95.88 is USD 176.7m, not 176.6m. The merger is correctly led as the most material item.
  • 2026-09-24 · Update: TPL Plastech shareholders approved the merger into Time Technoplast in principle at the 22 September 2026 AGM, with shares to be exchanged under Companies Act Sections 230-232 once effective.
  • 2026-09-30 · Update: Time Technoplast's board has fixed the TPL Plastech merger exchange ratio at 403 shares per 1,000 held, adding about 1.6% dilution, with the scheme effective from 1 April 2026 pending NCLT and exchange clearance.
  • 2026-10-01 · Update: Time Technoplast's board has set the TPL Plastech merger terms at 403 new shares for every 1,000 held, with an appointed date of 1 April 2026, pending exchange, tribunal and shareholder approval.
  • 2026-10-03 · Update: Time Technoplast's board has formalised the TPL Plastech merger terms, setting a 1 April 2026 appointed date and a swap ratio of 403 new parent shares for every 1,000 TPL Plastech shares held by minority investors, pending NCLT, exchange and shareholder/creditor approval.