Announced Tue, 21 Jul · 20:25 IST
Board approves 28.99% acquisition in HL Mando ANAND India, Q1 results and share issue
GABRIEL · price
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AI summary
Board approved Q1 FY27 results: standalone revenue Rs 12,742M, PAT Rs 760M; consolidated revenue Rs 14,257M, PAT Rs 1,081M. Approved acquiring 28.99% stake in HL Mando ANAND India from promoter Asia Investments for about Rs 2,231 crore (Rs 350 cr cash plus 1.44 crore equity shares at Rs 1,305.89 each). Promoter holding will rise from 42.67% to 46.98%. Previous period results restated after merger scheme.
Likely market impact
Big acquisition positions Gabriel as ANAND Group's auto components platform, but it is a related party deal needing shareholder approval and expands consolidation scope.