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Toshali Cement at present has two manufacturing Units, one capacity of 0.33 MTPA; grinding capacity of 0.198 MTPA. The unit is located at Ampavalli, Koraput, Odisha. Second, grinding unit of 0.435 MTPA annual cement production capacity. The unit is located at Choudwar, Cuttack, Odisha.
The acquisition will help the company expand its footprint into the Eastern Region.
The transaction is subject to fulfillment of certain condition presidents and may likely complete upto 6 months. Post acquitision, Toshali will become a subsidiary of the company.
The share purchase agreement would become effective subject to fulfilling/achieving conditions precedents (CPs) as per the said share purchase agreement.
JK Cements is engaged in the manufacturing and selling of Cement and Cement related products.
The cement maker's consolidated net profit tumbled 44.2% to Rs 112.27 crore in Q4 FY23 as compared to Rs 201.13 crore recorded in Q4 FY22. Revenue from operations grew by 18.1% year on year to Rs 2,777.88 crore in the quarter ended 31 March 2023.
The scrip hit a 52 week high of Rs 3,327.40 in intraday today.
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