The company has acquired 50,000 fully paid equity shares of Rs 10 each at Rs 250 per share from the existing shareholder of Ethos.
Post the above acquisition, consolidated shareholding of KDDL (directly and indirectly through its subsidiary, Mahen Distribution) in Ethos has increased from 74.80% to 75.08%, KDDL said in a statement on Tuesday.KDDL is an engineering company engaged in the manufacture of watch components, precision stamped components and progressive tools for various applications.
On a consolidated basis, KDDL's net profit stood at Rs 2.86 crore in Q2 September 2020 as against a consolidated net loss of Rs 67 lakhs posted in Q2 September 2019. Net sales fell 12% year on year to Rs 139.41 crore in Q2 September 2020.
Shares of KDDL jumped 6.32% to Rs 186 on Tuesday.
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