International Conveyors gains on Rs 3 cr investment in TD Power Systems

International Conveyors rallied 4.71% to Rs 68.67 after the company announced that it had acquired 84,620 equity shares of TD Power Systems for Rs 3 crore.

TD Power Systems manufactures generators and motors, catering to multiple industries with reliable and efficient power solutions up to 200 MW. Their products have illuminated cities, powered countless lives, and connected communities across the globe. As per the latest audited financials for FY 2023-24, the company reported a turnover of Rs 1,000.519 crore.

The acquisition of 84,620 equity shares was made for investment purposes. The cost of acquisition is Rs 3.001 crore and it was completed through cash consideration on 7 April 2025.

The company also clarified that the acquisition does not fall within related party transactions, and neither the promoter, promoter group, nor any group companies have any interest in the entity being acquired.

International Conveyors is engaged in the manufacturing and trading of conveyor belting, including ply conveyor belting, steel cord conveyor belting, fittings, accessories, and the generation and sale of power.

The companys consolidated net profit rose 3.6% to Rs 20 crore, supported by a 15.7% increase in net sales to Rs 26.09 crore in Q3 FY25 compared to Q3 FY24.

Shares of TD Power Systems jumped 5.86% to Rs 380.30 on the BSE.

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