On 12 Dec, V-Guard Industries announced definitive agreements for acquiring a whole stake in Sunflame Enterprises (SEPL) for a consideration of Rs 660 crore on a cash-free, debt-free basis. The acquisition is subject to closing adjustments.

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India’s leading player company, Sun flame Enterprises, is in the kitchen appliances space. The company offers a broad product portfolio which includes chimneys, cooktops, mixer grinders, pressure cookers and small kitchen appliances. SEPL recorded a revenue of Rs 349.8 crore in FY22.

The company is an electrical and electronics consumer based in Kochi. To establish a firm brand name including voltage stabilizers, electric water heaters, inverter & inverter batteries, solar water heaters, domestic switchgear, pumps & motors, fans, wires & cables, modular switches, kitchen appliances and air coolers.

On a consolidated basis, the net profit declined 26.41% to Rs 43.66 crore. Meanwhile 8.68% rise in sales to Rs 986.14 crore in the second quarter of FY23 over the second quarter of FY22. On the Bombay Stock Exchange (BSE), V-Guard Industries’ shares hit a high of 0.56% to Rs 261.45.