TPL Plastech

TPL Plastech Ltd's board on September 29, 2026 approved the scheme of amalgamation merging the company into its promoter Time Technoplast Ltd with effect from April 1, 2026, subject to stock exchange, tribunal, shareholder and creditor approvals. Under the terms, public shareholders holding TPL shares of Rs2 each would receive 403 fully paid-up TTL shares of Re1 each for every 1,000 TPL shares, implying issuance of about 79.01 lakh TTL shares, cancellation of TTL's 74.86% holding and dissolution of TPL without winding up. TPL reported turnover of Rs422.66 crore, net worth of Rs168.90 crore and net profit of Rs29.07 crore for the year to March 2026, against TTL turnover of Rs6,114.40 crore. TPL manufactures industrial packaging products including plastic jerry cans, drums and intermediate bulk containers, using crude-derived polymers as its key raw material with polymer price volatility flagged as a risk to income and profit and no hedging disclosed. It operates as a single entity with no material subsidiaries and a clean three-year compliance record, and it declared a dividend every September from FY2019 through FY2025.

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TPL Plastech's board approved the amalgamation of the company into its parent Time Technoplast with effect from 1 April 2026, under a scheme that dissolves TPL without winding up. Shareholders of TPL other than Time Technoplast would receive 403 fully paid-up TTL shares of Re1 each for every 1,000 TPL shares of Rs2 each, implying about 79.01 lakh new TTL shares on the current shareholding. The scheme was cleared by the audit committee, the committee of independent directors and the board on 29 September 2026 after review of an independent valuation and fairness opinion, and remained subject to stock exchange, National Company Law Tribunal and shareholder and creditor approvals. TPL made industrial packaging products including plastic jerry cans, drums and intermediate bulk containers and operated as a single entity with no material subsidiaries. Its turnover was Rs422.66 crore with net worth of Rs168.9 crore and net profit of Rs29.07 crore in the year to March, against Rs6,114.4 crore turnover for Time Technoplast. Polymer resins derived from crude were its principal raw materials and price volatility was a stated risk to income and profit with no commodity hedging disclosed.

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TPL Plastech scheduled a board meeting on 29 September 2026 to consider and approve a scheme for the company's merger into Time Technoplast, which held a 74.86% stake in the company. The scheme, including a valuation report and fairness opinion, would proceed under Sections 230 to 232 of the Companies Act, 2013, subject to approvals from shareholders, stock exchanges and the National Company Law Tribunal. TPL Plastech manufactured polymer and plastic products from crude-derived polymers, with polymer price volatility cited as a risk to income and net profit. It operated as a single entity with no material subsidiaries, and its annual report for fiscal 2026 filed in June recorded a clean regulatory record with no penalties over three years.

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TPL Plastech's board gave in-principle approval for its merger with holding company Time Technoplast, which owned 74.86% of the company, with an appointed date of 1 April 2026. The proposal was intended to consolidate manufacturing units and product lines and reduce related-party and administrative complexity; the scheme, valuation, fairness opinion and share-swap ratio had yet to be finalised. The board appointed Sunil Vyas as CFO with effect from 1 October, while Pawan Agarwal's resignation was due to take effect at the close of 30 September as he pursued another professional opportunity. TPL Plastech reported FY26 revenue of ₹422.7 crore and operated five manufacturing sites producing industrial packaging products including drums, jerry cans and IBCs.

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TPL Plastech's board gave in-principle approval for its merger into its 74.86%-owned holding company, Time Technoplast, with an appointed date of 1 April 2026. The proposed amalgamation would consolidate manufacturing units and product lines, but a consultant, valuer and merchant banker must still be appointed before the share-swap ratio and scheme are finalised. TPL reported FY26 turnover of ₹422.7 crore and net profit of ₹29.1 crore, compared with ₹6,114.4 crore and ₹468.7 crore for Time Technoplast. Separately, Sunil Vyas was appointed CFO from 1 October, replacing Pawan Agarwal, whose resignation for another professional opportunity takes effect on 30 September.

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TPL Plastech's board gave in-principle approval on August 26 for a merger with its 74.86%-owned holding company, Time Technoplast, subject to a scheme, valuation and further approvals. The swap ratio and any resulting change in the listed entity's shareholding remained undecided. The combination was intended to consolidate manufacturing units and product lines spanning industrial packaging, composite cylinders, pipes and other products. TPL Plastech operated five manufacturing sites and reported FY26 revenue of ₹422.66 crore, while Time Technoplast reported turnover of ₹6,114.40 crore. The board also appointed Sunil Vyas as CFO from October 1 after accepting Pawan Agarwal's resignation effective September 30.

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Aug 26 (Reuters) - TPL Plastech Ltd TPLP.NS:

• GETS IN-PRINCIPLE APPROVAL FOR MERGER OF CO WITH TIME TECHNOPLAST LIMITED

• APPROVED APPOINTMENT OF SUNIL VYAS AS CFO

• PAWAN AGARWAL HAS TENDERED RESIGNATION AS CFO

Source text: ID:nnAZN4TGFWB

Further company coverage: TPLP.NS

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TPL Plastech scheduled a board meeting for August 26, 2026, to consider merging the company into Time Technoplast, its listed holding company. Time Technoplast held a 74.86% stake in TPL Plastech, and the proposal was subject to statutory and regulatory approvals. TPL Plastech operated five manufacturing sites producing industrial packaging products including plastic drums, jerry cans and intermediate bulk containers. Its Bhuj facility began operations on August 20 with annual capacity of about 150,000 IBCs and projected additional revenue of about ₹100 crore.

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Aug 21 (Reuters) - TPL Plastech Ltd TPLP.NS:

• BOARD TO CONSIDER MERGER OF TPL PLASTECH INTO TIME TECHNOPLAST

Source text: ID:nBSEblNV0f

Further company coverage: TPLP.NS

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TPL Plastech began operations at its Bhuj, Gujarat facility through a wholly owned subsidiary. The unit had installed capacity of approximately 150,000 IBCs a year and projected additional revenue of about ₹100 crore. It also manufactured industrial plastic drums of 200 litres and above for customers in Bhuj, Kutch and surrounding industrial areas. The ₹20 crore Bhuj expansion had been scheduled for operations in the third quarter of FY27. TPL Plastech reported revenue of ₹422.7 crore in FY26.

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Aug 20 (Reuters) - TPL Plastech Ltd TPLP.NS:

• COMMENCES INTERMEDIATE BULK CONTAINERS MANUFACTURING OPERATIONS AT BHUJ, GUJARAT

• FACILITY HAS CAPACITY OF 150,000 IBCS PER ANNUM WITH 1 BILLION RUPEES PROJECTED REVENUE

Source text: ID:nBSE7kffwy

Further company coverage: TPLP.NS

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Aug 4 (Reuters) - TPL Plastech Ltd TPLP.NS:

• TPL PLASTECH JUNE-QUARTER CONSOL PAT 65.2 MILLION RUPEES

• TPL PLASTECH JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 1.24 BILLION RUPEES

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Further company coverage: TPLP.NS

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Dec 27 (Reuters) - TPL Plastech Ltd TPLP.NS:

• TPL PLASTECH LTD - AKSHAY CHANDAN TO RESIGN AS CEO

• TPL PLASTECH LTD - JAYESH ASHAR APPOINTED AS CEO EFFECTIVE FEB 10

Source text: ID:nBSE3qlNbd

Further company coverage: TPLP.NS

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May 26 (Reuters) - TPL Plastech Ltd TPLP.NS:

• TPL PLASTECH LTD - RE-APPOINTS AKSHAY CHANDAN AS CEO

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Further company coverage: TPLP.NS

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May 2 (Reuters) - TPL Plastech Ltd TPLP.NS:

• TPL PLASTECH LTD - ENTERS MANUFACTURING OF INTERMEDIATE BULK CONTAINERS

• TPL PLASTECH LTD - SETS UP AN INDUSTRIAL PACKAGING FACILITY AT DAHEJ, GUJARAT

Source text for Eikon: ID:nBSE3dNxks

Further company coverage: TPLP.NS

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