For the past many hours, people are scrounging the web to confirm if UK Paints (India) really acquired Berger Paints or not. Thus, we have come up with this article to make you educated about it. First of all, let us make it clear that UK Paints (India) has not completely acquired Berger Paints but it acquired its 50.09% stake. How UK Paints (India) did this? This might be the question that is prevailing in your mind. If yes, stick with this page and keep reading this article. In the further given sections of this blog, we have explored this development. You are advised to stick with this page and take a look at the further given sections to get more details. Drag down the page. Follow more updates on Newsminatii.in
This news was confirmed by UK Paints (India) on Wednesday, November 16, 2022. According to the reports, UK Paints (India) bought a 50.09% stake in Berger Paints. Now the next question comes up, how UK Paints (India) did this? The acquisition of 50.09 percent stake in Berger Paints was acquired through open market strategies. Shift to the next section and read more details about it. Scroll down the page and learn more.
According to the source, UK Paints (India) gained 20,000 shares that carried voting rights. Prior to gaining stakes in Berger Paints, UK Paints (India) had 486,545,399 shares which is equal to 50.09 percent of the company. For the second quarter, Berger Paints India showed a consolidated net profit of Rs 219.51 crore which is significantly higher than last year. One year ago for the same period, Berger Paints reported a consolidated net profit of Rs 219.21 crore. Learn more details in the further section of this article. Drag down the page and take a peek below.
The company reported that revenue increased for the second quarter from the corresponding period last year. The quarter under review was Rs2670.9 crore which is equal to a 20% increase from Rs 2225 crore last year. On the other hand, EBITDA is at Rs 376.53 crore till September 2022. That shows an increase of 2.6% from the corresponding period last year. Last year’s EBITDA stood at Rs 366.98 crore in the month of September 2021. At BSE Berger Paints shares closed 0.16% down at Rs 608.25. Stay tuned to this website for more details and updates.