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| Exchange Disseminated Time | Gravita India Ltd has informed BSE regarding "Acquisition of 80% stake in M/s. Metal Inc., Kathua. Expected enhancement of Rs. 40 Crores in top line and Rs. 3 Crores in bottom line"
"Gravita India Ltd has entered has acquired 80% stake as Partner in M/s. Metal Inc., Kathua. It is another acquisition by Gravita in the State of Jammu & Kashmir after the recent acquisition of M/s. K. M. Udyog, Jammu. The Company is also under process to acquire the balance 20% of stake in M/s. Metal Inc., Kathua making it a 100% wholly owned unit, shortly.
This latest addition shall further increase the Lead smelting and refining production capacity of Gravita by 3600 MT per annum to 46200 MT per annum. This acquisition will enable the Company to successfully cater the growing demand for its products and to better serve customers from Northern part of the Country.
The Company shall benefit from this acquisition in the Tax heaven zone in terms of improved profit margins. The Company expects an addition of addition of approximately 40 to 45 Crores and 3.00 Crores respectively to the top and bottom line of the Company during the current fiscal." |
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