Shilpi Cable has major global acquisition in its kitty
DSIJ Intelligence / 31 Dec 2016
Shilpi Cable Technologies’ board of directors has approved acquisition of 100 per cent shareholding in Gulf Aglow LED Lighting FZCO (GAL). The company is set to acquire a UAE-based company incorporated under the laws of UAE.
Shilpi Cable Technologies’ board of directors has approved acquisition of 100 per cent shareholding in Gulf Aglow LED Lighting FZCO (GAL). The company is set to acquire a UAE-based company incorporated under the laws of UAE. GAL is engaged in the manufacturing of lighting products.
On the financial front, Shilpi Cable Technologies’ consolidated revenue has increased by 45.6 per cent to Rs 1197 crore in Q2FY17 as compared to the same period in previous fiscal. The company’s EBITDA too has risen by 72.9 per cent to Rs 105 crore in Q2FY17 on a yearly basis. Its EBITDA margin has expanded by 138 basis points to 8.7 per cent in Q2FY17 as compared to same period in previous financial year. Shilpi Cable Technologies’ net profit has jumped 100.7 per cent to Rs 54 crore in Q2FY17 on a yearly basis.
The stock price of Shilpi Cable Technologies decreased by 0.23 per cent on bourses; and closed at Rs 197.95 on December 30. The company has given returns of more than three fold in the last one year. Its stock price is trading above 30 days SMA of 195.3.
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