On Wednesday, U.K Paints (India) Ltd declared to acquire 50.09 percent stake in Berger Paints, through open market operations.
UK Paints (India), before the acquisition, had 486,545,399 shares, i.e 50.09 percent share in the company. The acquisition deal happened through the 20,000 shares, which carried the voting rights. The second quarter ending on 30th September, Berger Paints India reported a consolidated net profit of ₹219.51 crores which was ₹219.21 crores in the same period last fiscal.
The EBITDA stands at 376.53 crores in September 2022 rose 2.6% from ₹366.98 crores in Sept 2021, whereas the revenue from the operations under review grew up to an impressive 20 percent from ₹2,225 crores last year to ₹2,670.9 crores respectively.
Berger Paints India Ltd is a Kolkata-based multinational paint manufacturing company having it’s a presence in five different countries including India, Nepal, Bangladesh, Russia, and Poland respectively.
