Tilaknagar Industries Ltd, maker of the brandy brand Mansion House, has acquired four companies over the past week as it looks to integrate various operations. These acquisitions will help the company build its own expertise in construction and infrastructure space while reducing raw material costs.
Tilaknagar announced acquisitions of Studd Projects, Mykingdom Ventures, Srirampur Grains and P.P. Caps over the past week.
Studd Projects and Mykingdom Ventures are engaged in construction and infrastructure development. Therefore, acquiring these companies will help Tilaknagar with rapid implementation of solutions, which in turn, will reduce costs and ensure execution of new projects within the stipulated timeframes, according to a company statement.
P.P. Caps manufactures caps & containers and will, therefore, ensure cost and quality advantages. The company is also setting up a plant in Srirampur, Maharashtra, to manufacture 25 mm and 29/35 mm caps, with a capacity of 6,00,000 and 50,000 caps, respectively, per day.
Srirampur Grains deals with agricultural products and will help Tilaknagar source grains directly from the farmers. According to Tilaknagar chairman Amit Dahanukar, its grain-based distillery currently operates at more than 60 per cent capacity and requires a significant supply of grains as raw materials, which are sourced from local traders and farmers. This will help the company consolidate the supply chain.
For the first nine months of FY12, Tilaknagar reported 17.7 per cent increase in revenues to Rs 401.6 crore with profit after tax up 21.7 per cent to Rs 34.7 crore.
At 3:30 pm, shares of Tilaknagar were up 5.78 per cent to Rs 53.1 a unit on the Bombay Stock Exchange.
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