Vishnu Chemicals advanced 1.38% to Rs 445.35 after the company's board approved to acquire 100% stake in Jayansree Pharma for total consideration of Rs 51.99 crore.
Jayansree Pharma is engaged in business of manufacturing of chemicals and has presence in India. Its turnover for FY23 was Rs 29.54 crore.The company has entered into a share purchase agreement to acquire 100% stake in Jayansree Pharma. The said newly acquired company will manufacture speciality chemicals and operate in allied area, in-line with the holding company.
The said acquisition will be completed within 3 months.
Vishnu Chemicals manufactures a wide range of chemicals. The company's products include Sodium Dichromate, Potassium Dichromate, Basic Chromium Sulphate and Yellow Sodium Sulphate, Chromic Acid, White Sodium Sulphate, Saccharin and Sodium Saccharin.
The companys consolidated net profit increased 6.5% YoY to Rs 30.47 crore in Q1 FY25. Net sales jumped 12.6% to Rs 337.44 crore in Q1 FY25 as compared with Rs 299.74 crore in Q1 FY24.
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