Sprayking Agro Equipment Limited acquires New Manufacturing Facility

Sprayking Agro Equipment Limited (the "Company"), brass manufacturer has acquired its new manufacturing facility at Jamnagar, Gujarat. The unit will be manufacturing brass and forging components/parts similar to the existing manufacturing facility of the Company. This new Manufacturing facility is spread over 3,000 sq. mtr which has been acquired by the Company on rent from the third party. The addition of this manufacturing facility will strengthen Company's presence in the market. Continuing with its commitment towards customers, and acknowledging the faith and confidence they have reposed in Sprayking Agro Equipment Limited's manufacturing capacity, the company will produce price effective components/parts. Sprayking Agro Equipments strives to protect and serve the interests of its customers and suppliers.

Sprayking Agro Equipment Limited has recently acquired 51% stake in M/s. Narmada Brass Industries in order to expand the business. Established in 2019, Narmada Brass Industries is partnership firm started by Mr. Hitesh Dudhagra. Narmada Brass has its own manufacturing unit of copper brass products. The manufacturing plant has capacity of 2000 ton per annum of forged products. With this acquisition the Company is growing by leaps and bounds and catering to new demand of orders from domestic as well as export Market.

The Company makes 50 types of different product. Recently Company has innovated and launched 2 new products such as section rod for electrical industries and rod for bathroom fitting with chrome plating. Further 2 other products are sent for sample approval to the customer.

Commenting on this development, Mr. Hitesh Dudhagara, Managing Director of Sprayking said: "We are proud to announce that we have acquired a new manufacturing facility at Jamnagar, Gujarat. It will be a state-of-the-art facility that exemplifies our commitment to sustainability, safety, and innovation. Our team is working tirelessly to ensure that this plant not only meets the highest standards of quality but also reflects our values as a responsible corporate citizen. This new manufacturing facility is spread over 3000 sq. meter.

The decision to acquire this new manufacturing facility carefully considered, taking into account its alignment with our core values, strategic goals, and market trends and most importantly our customer needs. By acquiring this new manufacturing facility, we aim fo leverage our expertise, resources, and capabilities to further enhance our offerings, explore new opportunities and fulfill order requirements of our customers.

We want to assure our valued stakeholders, including employees, customers, and partners, that this acquisition is in line with our long-term strategic vision. We remain fully committed to our core business and will continue to prioritize the satisfaction of our existing customers while pursuing growth opportunities that align with our values and strategic objectives.

As we embark on this new venture, we are confident that the acquisition of this new manufacturing Jacility will strengthen our position in the market, drive innovation, and generate long-term value for all our stakeholders."

Shares of Sprayking Agro Equipment Ltd was last trading in BSE at Rs. 176.95 as compared to the previous close of Rs. 168.55. The total number of shares traded during the day was 55735 in over 233 trades.

The stock hit an intraday high of Rs. 176.95 and intraday low of 170.25. The net turnover during the day was Rs. 9829976.00.

Source : Equity Bulls

Keywords

SpraykingAgroEquipment INE537U01011 NewManufacturingFacility Acquisition