+
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.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code