Sumeet Industries Announces ₹23.47 Cr Acquisition to Strengthen Polyester Chips Capacity
Surat, March 18, 2026 – Sumeet Industries Limited (NSE: SUMEETINDS, BSE: 514211), a leading integrated polyester manufacturer, announced that it has been declared the successful bidder (H1 Bidder) for the acquisition of assets at the Phase-3: Chips Manufacturing Plant of Nakoda Limited under the Corporate Insolvency Resolution Process.The company’s Board of Directors unanimously approved a Letter of Intent dated March 11, 2026, confirming the acquisition under a slump sale. Nakoda Limited, based in Surat, was engaged in the manufacturing of Polyester Chips. The acquisition includes land and building measuring approximately 11,534 square meters, along with the entire plant and machinery at the Phase-3: Chips Manufacturing Plant.
Capacity Expansion and Strategic Rationale
The acquisition will add approximately 400 tons of Polyester Chips per day, equivalent to roughly 146,000 tons per annum, utilizing the chips in spinning units for manufacturing Partially Oriented Yarn (POY) and Fully Drawn Yarn (FDY).
The strategic rationale for the acquisition includes expanding Polyester Chips manufacturing capacity, aligning with existing business operations, and supporting scale-up of operations. The proximity of the acquired plant to the company's existing facilities will enable better operational alignment.
The total consideration for the acquisition under slump sale is approximately ₹23.47 Cr, granting the company 100% control of the acquired assets. The transaction is subject to necessary regulatory approvals. Completion is expected within 180 days from the signing of the Letter of Intent, i.e., March 17, 2026.
“This acquisition strengthens our presence in the polyester value chain and expands our Polyester Chips manufacturing capacity,” said Mr. Pratik R. Jaju, Managing Director of Sumeet Industries Limited. “The addition of this facility enhances our production scale and supports better integration with our downstream yarn business including POY and FDY.”
About Sumeet Industries Limited
Sumeet Industries Limited, incorporated in 1988, is a Surat-based integrated polyester manufacturer producing Pet Chips, Partially Oriented Yarn (POY), Fully Drawn Yarn (FDY), and Polyester Texturized Yarn. The company is under the Eagle Group, a successful resolution applicant.
In the nine-month period of Fiscal Year 2026, Sumeet Industries reported a total income of ₹786.83 Cr, EBITDA of ₹46.09 Cr, and Profit After Tax of ₹26.88 Cr.
| Financial Summary (9M FY26) | Amount (₹ Cr) |
|---|---|
| Total Income | 786.83 |
| EBITDA | 46.09 |
| Profit After Tax | 26.88 |
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