JK Cement Rise on Arm Acquires 60% Stake in Acro Paints
Cement

JK Cement Rise on Arm Acquires 60% Stake in Acro Paints

JK Cement increased 1.19% to 2.90685 million following the acquisition of a 60% stake by Acro Paints (APL), a wholly owned subsidiary of JK Paints & Coatings (JKPCL), at the first tranche of 1,530 million.

APL was formed on May 18, 1989, and began producing paints and chemicals for building, with a financial turnover of Rs 720.5 million in 2021–2022.

JKPCL is a step-down subsidiary of the corporation and an affiliate of APL. Within a year, the transaction is anticipated to be finished.

The cement company will produce and market cement and products linked to cement. Despite a 17.6% increase in net sales to 22279.5 million in the July–September quarter of FY23 compared to the July–September quarter of FY22, the net profit decreased by 25.7% to 1123.8 million on a consolidated basis.

JK Cement increased 1.19% to 2.90685 million following the acquisition of a 60% stake by Acro Paints (APL), a wholly owned subsidiary of JK Paints & Coatings (JKPCL), at the first tranche of 1,530 million. APL was formed on May 18, 1989, and began producing paints and chemicals for building, with a financial turnover of Rs 720.5 million in 2021–2022. JKPCL is a step-down subsidiary of the corporation and an affiliate of APL. Within a year, the transaction is anticipated to be finished. The cement company will produce and market cement and products linked to cement. Despite a 17.6% increase in net sales to 22279.5 million in the July–September quarter of FY23 compared to the July–September quarter of FY22, the net profit decreased by 25.7% to 1123.8 million on a consolidated basis.

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?