Business Update2 Feb 2024, 05:18 am
Gokaldas Exports Limited Signs Definitive Agreement to Acquire Apparel Business of Matrix Clothing
AI Summary
Gokaldas Exports Limited has signed an agreement to acquire 100% equity share capital of Matrix Design & Industries Private Limited for an enterprise value of INR 489 crores, providing access to the knit apparel business segments and geographical diversification.,
Key Highlights
- Acquisition of Matrix Clothing's apparel business for INR 489 crores
- Access to knit apparel business segments and geographical diversification
- Strategic addition of production capacity at strategic locations
- Financial results for Q3 FY24: Consolidated revenue of INR 2559.8 crore, consolidated profit before tax of INR 43.5 crore