Sumeet Industries Acquires Nakoda's Chips Plant for ₹23.47 Cr

Sumeet Industries Limited has announced its successful bid to acquire the assets of Nakoda Limited's Phase-3 Chips Manufacturing Plant for approximately ₹23.47 crore under a slump sale. This acquisition, approved by the Board of Directors, includes land, a building of approximately 11,534 square meters, and the entire plant and machinery.

The acquisition is set to add an incremental capacity of approximately 400 tons per day, or about 1,46,000 tons per annum, of Polyester Chips. These chips will be utilized in the company's spinning units for manufacturing Partially Oriented Yarn (POY) and Fully Drawn Yarn (FDY).

The strategic rationale behind this move includes expanding Polyester Chips manufacturing capacity in line with existing business operations, acquiring assets in the same manufacturing line to support scale-up, and leveraging the proximity to the existing plant for better operational alignment. The transaction is subject to necessary regulatory approvals and is expected to be completed within 180 days from March 17, 2026.

Mr. Pratik R. Jaju, Managing Director of Sumeet Industries Limited, stated that the acquisition strengthens their presence in the polyester value chain, expands capacity, enhances production scale, and improves integration with their downstream yarn business. He also highlighted the expected improved operational alignment and efficiency due to the acquired plant's proximity to existing operations.

Sumeet Industries, an integrated polyester manufacturer, was taken over by Eagle Group, the Successful Resolution Applicant, following an NCLT order on July 16, 2024. The company has also been investing in renewable energy, securing solar and wind power through stakes in various entities. In 9M FY26, the company reported a total income of ₹786.83 crore, EBITDA of ₹46.09 crore, and Profit After Tax of ₹26.88 crore.