Excel Industries Ltd to Obtain Manufacturing Unit of Net Matrix Crop Care Limited

Excel Industries Ltd, India’s first domestic chemical manufacture industry will acquire the chemical manufacturing unit of NetMatrix Crop Care Limited according to a meeting between the Board of Directors of Excel Industries held last Thursday.

The meeting approved the acquisition of a chemical manufacturing unit of NetMatrix Crop Care Limited located at Plot no. 15 & ISA, APSEZ, Atchutapuram, Visakhapatnam, Andhra Pradesh as a going concern by way of slump sale.  

The Business Undertaking is a chemical manufacturing unit in APSEZ, having the manufacturing plant for a pesticide intermediate. The Seller has recently commissioned its plant for the manufacture of a pesticide intermediate in the month of May 2019. Rs. 95 crores  (subject to working capital adjustments on Closing Date) is the cost of acquisition.  

Shares of EXCEL INDUSTRIES LTD. was last trading in BSE at Rs.934.15 as compared to the previous close of Rs. 944.1. The total number of shares traded during the day was 1419 in over 143 trades. 

The stock hit an intraday high of Rs. 960 and intraday low of 933.65. The net turnover during the day was Rs. 1345560.