Sudarshan Chemical surges on completing acquisition of Heubach Group
Sudarshan Chemical Industries is currently trading at Rs. 846.05, up by 14.75 points or 1.77% from its previous closing of Rs. 831.30 on the BSE.
The scrip opened at Rs. 831.30 and has touched a high and low of Rs. 846.85 and Rs. 804.00 respectively. So far 2830 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1235.00 on 14-Oct-2024 and a 52 week low of Rs. 534.60 on 13-Mar-2024.
Last one week high and low of the scrip stood at Rs. 895.05 and Rs. 795.75 respectively. The current market cap of the company is Rs. 6639.41 crore.
The promoters holding in the company stood at 27.55%, while Institutions and Non-Institutions held 27.35% and 45.10% respectively.
Sudarshan Chemical Industries (SCIL) through its wholly owned subsidiary Sudarshan Europe B.V., has completed its previously announced acquisition of Germany-based Heubach Group (Heubach) in a combination of an asset and share deal. This strategic acquisition creates a global pigment leader, bringing together SCIL’s operations and expertise with Heubach's technological capabilities. It will enhance SCIL’s product portfolio, giving it access to a diversified asset footprint across 19 international sites.
The combined company will have a broad pigment portfolio of high-quality products and a strong presence in major markets including Europe and the Americas. With that, the new Sudarshan is ideally positioned to deliver high-quality solutions that fit its global customers’ needs.
Heubach has a 200-year-old history and became the second largest pigment player in the world after its integration with Clariant in 2022. It had over a billion euros in revenue in FY21 and FY22, with a global footprint especially in Europe, Americas, and the APAC region. Heubach faced financial challenges over the past two years due to rising costs, inventory issues, and high interest rates. SCIL’s acquisition of Heubach will address these challenges with a clear turnaround plan.
Sudarshan Chemical Industries is a leading, world-class colour solutions provider with a strong global outreach in the production of performance colorants, an extensive range of Organic, Inorganic and Pearlescent pigments as well as Dispersions.
