Gravita buys 60 per cent in Jammu lead producer K M Udyog
05 Apr 2011
Jaipur-based lead and metal products company Gravita India along with its subsidiary Gravita Exim has acquired a 60 per cent stake in Jammu-based lead producer K M Udyog, for an undisclosed amount.
K M Udyog has an installed lead manufacturing and refining capacity of 7,200 tonnes per annum. "The addition of K M Udyog, Jammu, is expected to improve the top and bottom line of Gravita by around Rs65 crore and Rs3 crore, respectively, during 2011-12," Gravita said in a filing with the Bombay Stock Exchange.
With this addition, the enhanced capacity of the company will be 45,900 tonne per annum, the filing added.
Gravitas, which got listed on the stock exchanges in November last year, manufactures lead metal, lead oxide and lead products, among others.
For the October-December 2010 quarter, Gravita India reported a net profit of Rs2.64 crore on net sales of Rs53.13 crore.