UMAEXPORTS · price
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Awaiting price reaction for this filing.
Uma Exports Ltd has filed additional details about its acquisition of Swastik Oil Refinery Private Limited (SORPL), as required by SEBI's November 2024 circular. The company has acquired 100% of SORPL for a cash consideration of Rs 14.67 crore (Rs 14,66,99,177), following approval of its resolution plan by the NCLT Kolkata Bench. SORPL is engaged in edible oil manufacturing within the FMCG sector, and the acquisition marks Uma Exports' entry into this segment. The target company had nil turnover in FY2023, FY2024 and FY2025, but reported a small net profit of Rs 2,59,110. The transaction qualifies as a related party deal due to common directorship, though it was carried out at arm's length.
This acquisition diversifies Uma Exports into the FMCG and edible oil manufacturing space, but the target has had no revenue for three consecutive years, so the strategic value depends on management's ability to revive operations. Shareholders should note the related party nature of the deal, even though pricing is stated to be at arm's length.