Suraj Industries Ltd. Increases Stake in Shri Gang Industries and Allied Products Limited
Suraj Industries Ltd. announced on March 26, 2026, that its Board of Directors approved the acquisition of additional equity shares in Shri Gang Industries and Allied Products Limited ('Shri Gang'). The company will acquire 25,000 shares from Mr. Vikas Gupta and 24,800 shares from Mr. Ritesh Gupta, both members of the Promoter Group.These acquisitions will increase Suraj Industries Ltd.'s shareholding in Shri Gang to 20.27% from the current 20.02%. The transactions constitute related party transactions and were reviewed and approved by the Audit Committee. The transactions were conducted on an arm's length basis.
Shri Gang Industries and Allied Products Limited, established on August 2, 1989, operates a Bottling Plant for Indian Made Foreign Liquor (IMFL) and Country Liquor in Uttar Pradesh. The company also operates a grain-based distillery unit and has strategic partnerships with United Spirits Limited, including an exclusive manufacturing arrangement and a supply agreement for Extra Neutral Alcohol (ENA). 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.
The acquisition is estimated to be completed within 30 days. The acquisition price will be determined as the average of the opening and closing market price of Shri Gang's equity shares on the BSE Limited on the working day preceding the transaction date.
Financial Performance 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 1:30 P.M. (IST) and concluded at 2:15 P.M. (IST).
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