Sunita Tools Limited's New Era in Defence and Weapons Manufacturing

In a strategic and well planned move to grow its share in the Defence Aerospace and Weapons manufacturing and Diversify to manufacture and market different products to Sunita Tools Limited existing products, announces a significant Majority 55% share total cost of (Undisclosed) in cash Acquisition of a Tripathi Aerotech and Weapons Manufacturing Pvt Ltd company, A Company Where Shigna Industrial Corporation a sole proprietor co on Mr Rajeev Tripathi and Sunita Tools Limited have come together, Formalities for this acquisition will be completed in 60 days from signing the Agreement.

This Acquisition of the Tripathi Aerotech and Weapons Manufacturing Pvt Ltd in turn with Shigna Industrial corporation (sales undisclosed due to confidentiality) is Sunita Tools Limited's strategic vision to expand its portfolio of products related to Aerospace, Defence and Weapons Mfg and gives us both the qualifaction as per net worth, Infrastructure and multi location manufacturing facility to take orders of Gun parts and Artillery Shell cases in Huge numbers as size of project.

This move propels Sunita Tools Limited to leverage its 36 years Technical expertise along with the Acquisition partner to manufacture Gun Parts, Defence Parts, Artillery Shell case etc which have a vast and huge market in India and Worldwide. Shigna Industrial Corporation and Tripathi Aerotech and weapons manufacturing Company Is Registered as vendor and works with various Defence & Ordnance Factory & establishments in India presently.

The company anticipates that this expansion will not only give Sunita Tools Limited Aerotech and Defence capabilities but also contribute to the profitability of the Sunita Tools ltd. Furthermore, the other subsidiary manufacturing companies in Sunita Tools Limited Group too will benefit from this acquisition as they have similar machinery as needed to make parts for Tripathi Aerotech.

Commenting on this development, Mr. Sanjay Pandey, Chairman & Whole Time Technical Director of Sunita Tools Limited said: "We are happy to announce this great news, It's a New Era in the making for Sunita Tools Limited This strategic move and acquisition will propel Sunita Tools Limited into another orbit, another industry and a fast growing and highly profitable industry, Thus help revenue and profit generation to greater and higher levels.

By establishing this Acquisition, we aim to leverage our and our partners Technical Expertise to make products in Aerotech, Defence and Weapons Manufacturing, We are excited about the opportunities this venture presents and confident in our abilities to make a significant impact in this Industry.

As we embark on this new chapter, we remain dedicated to upholding the values of integrity, quality, and customer satisfaction that have been the cornerstone of our success. We look forward to the journey ahead and the contributions we will make to these sectors."

Shares of Sunita Tools Limited was last trading in BSE at Rs. 644.70 as compared to the previous close of Rs. 614.00. The total number of shares traded during the day was 6750 in over 18 trades.

The stock hit an intraday high of Rs. 644.70 and intraday low of 644.70. The net turnover during the day was Rs. 4351725.00.

Source : Equity Bulls

Keywords

SunitaTools INE0Q1S01010 IndustrialProducts Acquisition TripathiAerotechandWeaponsManufacturing