Sumeet Industries Limited has informed the Exchange regarding a press release dated March 18, 2026, titled "Sumeet Industries Announces ₹23.47 Cr Acquisition to Strengthen Polyester Chips Capacity".
SUMEETINDS · price
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Sumeet Industries has been declared the successful bidder to acquire the Phase-3 Polyester Chips Manufacturing Plant of Nakoda Limited, currently under the Corporate Insolvency Resolution Process (CIRP). The board has approved a Letter of Intent dated March 11, 2026, for the slump sale at a total consideration of approximately ₹23.47 Cr, giving 100% control of the assets, which include ~11,534 sq. meters of land and building along with the entire plant and machinery. The acquisition adds an incremental capacity of ~400 tons per day (~1,46,000 tons per annum) of Polyester Chips, to be used in-house for manufacturing POY and FDY yarn, supporting vertical integration. The deal is expected to be completed within 180 days from March 17, 2026, subject to regulatory approvals. For context, the company reported 9M FY26 total income of ₹786.83 Cr, EBITDA of ₹46.09 Cr, and PAT of ₹26.88 Cr.
Positive for shareholders — the acquisition expands production capacity significantly (over 1 lakh tons per annum) in the company's core polyester value chain at a modest cost relative to its revenue base, and is likely to support future revenue and margin growth. However, execution risk remains as the deal is via an insolvency process, subject to regulatory approvals, and integration will take several months.