Gokul Agro Resources rallied 4.02% to Rs 339.35 after the company acquired fixed assets worth Rs 105.53 crore of edible oil refinery at Mangalore from Sri Anagha Refineries, adding a capacity of 100 tons per day (TPD).
The rationale of this acquisition is to increase the market presence in Southern India. It is funded out of the borrowing from bank and internal accruals.The companys existing capacity stood at 5,550 TPD with over 75% capacity utilization. With this acquistion the capacity will increase by 100 TPD.
Gokul Agro Resources is engaged in business of manufacturing & trading of edible & non-edible oil, meals and other agro products.
The companys consolidated net profit surged 111.5% to Rs 71.48 crore on 16.8% rise in net sales to Rs 4,812.49 crore in Q2 FY25 over Q2 FY24.
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