Sharika Enterprises acquires Contronics Switchgear India Private Limited

Sharika Enterprises Limited (SEL), a distinguished leader in the power sector, has acquired a majority stake in Contronics Switchgear India Private Limited (CSIPL), renowned for its expertise in manufacturing of a wide range of electrical control panels. This strategic move solidifies CSIPL's status as a subsidiary of Sharika Enterprises Limited and represents achieving a significant milestone in the power sector.

This acquisition of the controlling stake of CSIPL by Sharika Enterprises brings synergies and enhances market reach. Additionally, the partnership facilitates operational scaling, allowing both entities to broaden their offerings. Renowned for its expertise in government projects, Sharika Enterprises complements CSIPL's strength in serving private customers. Together, they are well-positioned to provide a comprehensive range of electrical substations and control panels, catering to diverse client needs across various sectors.

Commenting on the acquisition, Mr. Rajinder Kaul, Chairman and Managing Director of Sharika Enterprises Limited said, "We welcome CSIPL as our subsidiary and this acquisition marks a strategic step forward in line with our vision to expand our market reach simultaneously with enhancing our service offerings. Together with CSIPL, we are poised to achieve new heights of success and innovation."

Meanwhile, Mr. Sushil Kumar Badlani, who has been instrumental in CSIPL's success, will continue to serve as its CEO. Such a strategic move also ensures continuity and leverages his extensive experience to drive future growth.

Expressing his optimism, Mr. S.K. Badlani, CEO of Contronics Switchgear India Private Limited said, "Joining the Sharika family signifies an exciting new chapter for CSIPL. Going forward, this partnership will be instrumental in leveraging our combined strengths and delivering even greater value to our customers."

CSIPL's core expertise lies in providing tailored solutions across various sectors. Their product line-up includes 11KV VCB Panels, Generator Control Relay & Metering Panels, AMF Panels, LT Distribution Boards, PLC Panels, AC/DC Drive Panels, and more. Evidenced by its successful exports to various countries, CSIPL has earned a distinct reputation in the industry for its commitment to quality and innovation, serving diverse sectors including cement, steel, and aluminium plants.

With this acquisition, Sharika Enterprises is now set to offer a complete range of electrical substations and control panels. The acquisition will not only enhance operational capabilities but also ensure a wide range of comprehensive solutions tailored to meet diverse client needs in the power sector.

Source : Equity Bulls

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SharikaEnterprises Acquisition ContronicsSwitchgearIndia