Sudarshan Chemical Industries rose 1.33% to Rs 1,110.05 after the company announced that its wholly owned subsidiary, Sudarshan Europe B.V., has acquired Blitz F24-526 GmbH, a limited liability company based in Frankfurt, Germany.
Following the acquisition, Blitz F24-526 GmbH has become a wholly owned subsidiary of Sudarshan Europe B.V. and a step-down subsidiary of Sudarshan Chemical Industries. The newly acquired entity will primarily focus on operations related to pigments.The acquisition was valued at 29,500, and 100% of the shareholding is now held by Sudarshan Europe B.V., a wholly owned subsidiary of Sudarshan Chemical Industries. The acquisition process was completed on 14th January 2025. The transaction was conducted on an arms length basis.
The official announcement was made on 14 January 2025 after market hours.
Sudarshan Chemical Industries is a leading color & effect pigment manufacturer. It primarily serves the coatings, plastics, inks and cosmetics markets.
The companys consolidated net profit jumped 67.4% to Rs 29.90 crore in Q2 FY25 as against Rs 17.86 crore posted in Q2 FY24. Revenue from operations rose 15.8% YoY to Rs 688.91 in the quarter ended 30 September 2024.
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