Agarwal Industrial Corporation Limited has informed the Exchange about General Updates
AGARIND · price
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Agarwal Industrial Corporation Limited has approved the acquisition of 100% equity shares of Konkan Storage Systems (Karwar) Private Limited for a total cash consideration of Rs. 22,00,00,018 (about Rs. 22 crores), translating to Rs. 21,782.18 per equity share. The target company is engaged in port-based warehousing and storage of solid, liquid, and heated cargo, with a turnover of Rs. 329.76 lakhs in FY24, Rs. 269.26 lakhs in FY23, and Rs. 304.34 lakhs in FY22. The acquisition will allow Agarwal Industrial to convert currently leased tanks and equipment into owned assets, reducing costs and ensuring availability of critical infrastructure. The deal is expected to be completed by September 30, 2025, subject to definitive agreements and closing conditions.
This acquisition aligns with Agarwal Industrial's logistics and bitumen storage business by bringing leased infrastructure onto its own balance sheet, which should improve operational efficiency and margins. For shareholders, it signals a strategic expansion into owned warehousing assets, though the deal size is relatively modest at around Rs. 22 crores.