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DRChoksey Report
Pitti Engineering Ltd. has reached an agreement to acquire 100.0% of the equity share capital of Dakshin Foundry Pvt. Ltd. from its shareholders for an equity value of Rs 1,531.2 million.
The cost of acquisition includes both business value and working capital of Dakshin Foundry.
Dakshin Foundry specializes in producing high-quality castings in various materials including ductile iron, grey iron, low carbon steel, alloy steel, and simo iron. Additionally, the Company offers value added services such as pattern making, painting, heat and surface treatments, and machining.
The acquisition of Dakshin Foundry is complementary to the operations of the listed entity and its subsidiaries. It will enhance their production capacity and operational capabilities, aligning with the Company's strategy for inorganic growth.
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