Maan Aluminium jumped 4.47% to Rs 98.55 after the company announced the acquisition of building along with leasehold land at Devas, Madhya Pradesh, for expanding aluminium extrusion manufacturing business.
In a regulatory filing made during market hours today, the company stated that it is further planning for expansion of its manufacturing business of aluminium extrusion & value-added services.
For this, the company has acquired the building along with leasehold land situated at 81A and 82C, Devas Industrial Area, M B Road, Devas, Madhya Pradesh.
The land area measuring approximately 13,117 square meters. The total expenditure is Rs 8.75 crore, excluding stamp duty and other charges.
Maan Aluminium trades in aluminium ingot/billets/rods and manufactures aluminium alloy extruded products including rods and bars. The company exports its products and has been accredited with a Three Star Export House status. Further, the company has in-house anodising and fabrication facilities to manufacture value added products.
The company's net profit declined 59.01% to Rs 3.05 crore on a 14.50% fall in revenue to Rs 182.09 crore in Q3 FY25 as compared with Q3 FY24.
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