TPL Plastech Board Approves Merger with Time Technoplast, Appoints New CFO

TPL Plastech Limited announced that its Board of Directors has granted in-principle approval for the merger of the company with its holding company, Time Technoplast Limited. This strategic move, with an appointed date of April 01, 2026, aims to consolidate the group's structure, rationalize manufacturing units, and enhance product development and operational efficiency. The merger is expected to pool financial, managerial, and technical resources, strengthening the combined entity's competitive position and reducing costs through operational and financial synergies.

The merger is subject to further approvals, including the appointment of a consultant to draft the Scheme of Amalgamation, and a registered valuer and merchant banker to obtain a valuation report and fairness opinion. The fair share exchange ratio will be determined upon completion of these processes.

In a separate development, the Board approved the appointment of Mr. Sunil Vyas as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the company, effective October 1, 2026. Mr. Vyas brings over 19 years of experience in Accounts and Finance and has been with TPL Plastech for over 16 years, managing Corporate Finance and Credit Control functions.

Concurrently, the Board accepted the resignation of Mr. Pawan Agarwal from the position of CFO and KMP, which will be effective from the close of business hours on September 30, 2026. Mr. Agarwal is leaving to pursue another professional opportunity after more than 10 years with the company.