Suraj Industries Ltd. Acquires Shares in Shri Gang Industries and Allied Products Limited
Suraj Industries Ltd. announced on March 19, 2026, that its Board of Directors approved the acquisition of equity shares in Shri Gang Industries and Allied Products Limited ('Shri Gang'). The company will acquire 105,000 shares from Mr. Vikas Gupta, a member of the Promoter Group, and 35,000 shares from Mr. Ritesh Gupta, Joint Managing Director and also a member of the Promoter Group.The acquisitions are considered related party transactions, having been reviewed and approved by the Audit Committee. They are expected to be completed within 30 days and will be executed on an arm's length basis. Following the acquisitions, Suraj Industries Ltd.'s stake in Shri Gang will increase to 20.02% from the current 19.31%.
Shri Gang, established on August 2, 1989, operates a bottling plant for Indian Made Foreign Liquor (IMFL) and Country Liquor, with commercial production beginning in July 2020. The company also operates a grain-based distillery unit and has manufacturing agreements and supply arrangements with United Spirits Limited. For the period ended March 31, 2025, Shri Gang reported a turnover of Rs. 352.62 crore and a profit after tax of Rs. 29.33 crore.
Financial Highlights of Shri Gang Industries and Allied Products Limited (Standalone)
| Financial Year | Turnover (Rs. in Crore.) | Profit after Tax ( Rs. in Crore) |
|---|---|---|
| 2024-25 | 352.62 | 29.33 |
| 2023-24 | 288.64 | 14.79 |
| 2022-23 | 138.68 | 13.16 |
The Board of Directors’ meeting commenced at 4:00 P.M. (IST) and concluded at 5:00 P.M. (IST).
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Last edited by a moderator: