PI Industries Ltd. announced the completion of its acquisition of lsagro (Asia} Agrochemicals Private Ltd (lsagro Asia) from lsagro Spa and its affiliates, a deal which was signed in Nov 2019.
The total transaction value is Rs345cr plus surplus cash on closing date subject to final adjustments for net working capital.
lsagro Asia, who are engaged in contract Manufacturing, local distribution and exports of agrochemicals, have reported revenue of Rs314cr and net profit of Rs23cr for the year ended 31st March, 2019. It has a 30-acre manufacturing site including production plants for agrochemical technical and formulations adjacent to PI's manufacturing unit in Panoli.
This acquisition will provide access to additional manufacturing capacities, synergy benefits of adjacent manufacturing site, long-term contract for export of products to lsagro Spa, and will help PI strengthen its position in domestic market by leveraging complementary product portfolio and pan India distribution channel of the acquired entity.
Stock View:
P I Industries Ltd is currently trading at Rs1,456.65 down by Rs2.15 or 0.15% from its previous closing of Rs1,458.80 on the BSE.
The scrip opened at Rs1,470.35 and has touched a high and low of Rs1,472.75 and Rs1,456.65 respectively. So far 13,385 (NSE+BSE) shares were traded on the counter.
The current market cap of the company is Rs20,158.48cr.
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