Shiva Texyarn Limited has informed the Exchange about the acquisition of shares from M/s. Finecot Spinning Mills Private Ltd
SHIVATEX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.4 pts more than Nifty Microcap 250 and 1.3 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Shiva Texyarn's board approved a 11.50% equity acquisition in Finecot Spinning Mills Pvt Ltd for Rs. 3.45 lakh (3,450 shares at Rs. 100 each), a solar power company, to source captive solar power for its textile operations. The company also announced FY25 audited results showing a strong turnaround with profit after tax of Rs. 11.78 crore versus a loss of Rs. 11.08 crore in FY24, though revenue from operations declined slightly to Rs. 322.7 crore from Rs. 335.3 crore. The board recommended a 45% dividend (Rs. 4.50 per share on face value of Rs. 10) subject to shareholder approval. Additionally, Managing Director S K Sundararaman was re-appointed for three years, and new auditors were appointed for cost and secretarial audit purposes.
The solar power stake is a small, strategic move toward captive renewable energy that should help reduce long-term power costs, but is too minor to materially impact financials. The standout item is the sharp profit recovery and 45% dividend declaration, which should be viewed positively by shareholders.