Announcement under Regulation 30 (LODR)-Acquisition
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The Board approved unaudited Q2 FY26 and H1 FY26 results with an un-modified auditor opinion. Consolidated Q2 FY26 revenue fell sharply to Rs. 9,367.13 lakhs versus Rs. 20,209.24 lakhs in Q2 FY25 (a drop of roughly 54%), with EBITDA at Rs. 551.27 lakhs (vs Rs. 1,901.44 lakhs) and PAT at Rs. 677.02 lakhs (vs Rs. 1,590.93 lakhs). The company announced acquisition of 100% of P K M General Trading L.L.C (UAE), which owns PT Map Trans Logistic (Indonesia), for a total consideration of Rs. 203.37 crores to be discharged entirely through issuance of 10.28 crore new equity shares at Rs. 19.77 each to the five sellers (share swap). The Board also approved an increase in authorized share capital from Rs. 150 crores to Rs. 1,000 crores to enable the share issuance, subject to shareholder approval. Post-deal, PKM GT will become a wholly owned subsidiary and PT Map a step-down subsidiary; the acquisition is stated to be non-related-party and at arm's length.
Existing shareholders will face significant dilution (roughly 20%+) through the share-swap consideration, but they will gain entry into Indonesia and UAE logistics markets via PT Map, which posted turnover of about Rs. 232 crores in CY2024. The steep YoY decline in revenue and EBITDA in Q2 is a concern for near-term earnings, though the acquisition could provide a future revenue cushion. Both limited review reports carry un-modified opinions.