 |
Analyst Meet / AGM
16-Mar-10
|
|
|
|
|
|
|
|
Analyst Meet
|
|
|
|
Kiri Dyes and Chemicals
|
|
Acquires Germany-based DyStar
|
|
|
|
|
|
Kiri Dyes held an analyst meet to discuss its recent acquisition and way forward. Mr. Manish Kiri- Managing Director of Kiri Dyes addressed the meet
Highlights of the meet
- Kiri dyes and Chemicals through its SPV Kiri Holding Singapore announced completion of acquisition of Germany based multinational Dystar along with its subsidiaries with support of its joint venture partner Longsheng Group, China.
- Kiri Holding Singapore a joint venture between Kiri Dyes and China-based Longsheng Group (Kiri Dyes has 81.26% share in JV), raised about euro 100 million to fund the acquisition. The company raised euro 65 million from debt and euro 35 million from equity.
- KDCL has paid Euro 50 million to acquire fixed assets of Euro 102 million, euro 153 million of Inventory and euro euro 150 million of receivables. The acquisition also includes Dystar Patents, IP rights, brand names, Trademarks and subsidiaries in 22 countries around the world. KDCL acquired Dystar from Insolvency proceedings in Germany and has avoided taking overall liabilities including employees and bank liabilities in Germany. However it acquired euro 114 million debt through subsidiaries.
- KDCL is the largest manufacturer and exporter of reactive dyes and intermediates and achieved sales of Rs 238.53 crore with PAT of Rs 17.78 crore for the nine months ended December 2009.
- Dystar is the global market leader for dyes, dyes solution, leather solution, performance chemicals, new technologies and custom manufacturing of special dyes/pigments with about 21% market share globally having sales of Euro 800 million in CY2008. It has technical support presence in all key markets; agencies in 50 countries and 18 production facilities in 12 countries.
- The company expects payback period for Dystar around 3-4 years.
- The company plans to shift manufacturing activities of Germany to India.
- KDCL plans to turnaround Dystar by replacing high cost German manufacturing base with low cost manufacturing in India and China. This would not mean moving of physical assets rather moving of technology, knowhow, trademark, etc. The company has targeted that Dystar will be cash surplus from 2010 and will start generating PAT from 2011.
- KDCL has set a sales target of about Rs 572 crore (Euro 91 million) with expected PAT of approx. Rs 61 crore (Euro 9.75 million) in 2011-12 on a standalone basis. Dystar is expected to achieve sales of Euro 675 million with PAT of Euro 34 million in 2012. On a Consolidated basis the expected sales is targeted as Euro 766 million with PAT of Euro 43.75 million in 2012.
|
|
|
|
Previous News |
Kiri Industries reports consolidated net profit of Rs 90.56 crore in the June 2021 quarter
(
Results
-
Announcements
10-Aug-21
17:34
)
|
|
|
Kiri Industries schedules board meeting
(
Corporate News
-
03-Nov-22
16:39
)
|
|
|
Kiri Industries Ltd leads gainers in 'A' group
(
Hot Pursuit
-
06-Jul-22
12:00
)
|
|
|
Kiri Industries consolidated net profit declines 21.67% in the March 2022 quarter
(
Results
-
Announcements
31-May-22
15:13
)
|
|
|
Kiri Industries incorporates wholly owned subsidiary in Singapore
(
Corporate News
-
14-Feb-24
12:14
)
|
|
|
Kiri Industries reports standalone net loss of Rs 30.82 crore in the June 2020 quarter
(
Results
-
Announcements
10-Aug-20
17:37
)
|
|
|
Kiri Industries to conduct board meeting
(
Corporate News
-
05-Aug-21
13:46
)
|
|
|
Board of Kiri Industries recommends final dividend
(
Corporate News
-
02-Jul-20
15:25
)
|
|
|
Kiri Industries announces board meeting date
(
Corporate News
-
03-Aug-19
16:55
)
|
|
|
Kiri Industries to hold AGM
(
Corporate News
-
16-Aug-18
16:37
)
|
|
|
Kiri Industries reports net loss of Rs 17.26 crore in the December 2012 quarter
(
Results
-
Announcements
13-Feb-13
09:48
)
|
|
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|
|
|
|
|
|