As per file attached
GCSL · price
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Awaiting price reaction for this filing.
Gretex Corporate Services has indirectly acquired a 23.26% control in Gretex Industries Limited through group entities, making it an Associate Company under common management. No direct cash or share consideration was involved. Gretex Industries, incorporated in 2009 and based in Kolkata, trades and distributes musical instruments, professional audio, and AV equipment across Eastern and Northeastern India, with FY24-25 turnover of ₹329.23 crore (up from ₹220.27 crore in FY22-23). The financial results of Gretex Industries will now be consolidated into Gretex Corporate Services' accounts, which is expected to have a material impact on consolidated financials.
Shareholders should see stronger consolidated revenue and earnings going forward as Gretex Industries' ~₹329 crore business gets added to the books. The stock may react positively given the material impact on financials, though this is a related-party intra-group consolidation rather than a fresh inorganic acquisition.