NEW DELHI: Hyderabad-based integrated power transmission and distribution services provider BS Ltd has announced its plan to acquire synergetic and operative assets from Agarwal Steels Structures India, Durafast Automotive, NHS Metals and Rajesh Sandhi Infras & Metals for Rs 937 rore.
“At an aggregate net consideration of Rs 937 crore, BS Limited proposes to acquire operative businesses from Agarwal Steels Structures India private Limited, Durafast Automotive Private Limited, NHS Metals Private Limited and Rajesh Sandhi Infras and Metals Private Limited. The acquisitions are to be undertaken through slump sale for the respective sellers,” the company said in a BSE filing today.
Besides, the company’s board has approved its financial results for 2014-15.
Chairman and Managing Director Rajesh Agarwal said, “The proposed acquisitions are expected to benefit the company through improvement in bidding strength, enhanced cost control and expansion into railway electrification under EPC, operational and financial synergies and strengthen the foothold of the company in the industry.”
“With this acquisition, the company aims to achieve revenues of Rs 10,000 crore in the next 2-3 years,” he added.
The company reported a 6.8 per cent rise in net profit at Rs 75.19 crore on a consolidated basis for the year ended March 31, 2015, as against Rs 70.37 crore in the previous fiscal. Total income for the full year stood at Rs 2,673.14 crore, up 15 per cent from Rs 2,320.72 crore a year earlier.
The company’s shares were trading at Rs 40.95 on Thursday, down 2.85 per cent, on the BSE.
