Uma Exports Completes ₹14.67 Crore Acquisition of Swastik Oil Refinery
Uma Exports Limited has completed the acquisition of Swastik Oil Refinery Private Limited for ₹14,66,99,177 through an NCLT-approved resolution plan. The transaction involves 100% shareholding acquisition via cash consideration, enabling Uma Exports' strategic entry into FMCG edible oil manufacturing. The target company, incorporated in 1997 with manufacturing facilities in Howrah, reported zero turnover for the past three years but maintains a net profit of ₹2,59,110.
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Uma Exports Limited has successfully completed the acquisition of Swastik Oil Refinery Private Limited for ₹14,66,99,177, marking a strategic expansion into the Fast-Moving Consumer Goods (FMCG) sector. The acquisition was approved by the Hon'ble National Company Law Tribunal, Kolkata Bench, through a resolution plan and enables the company's entry into edible oil manufacturing.
Acquisition Details
The transaction involves a complete 100% shareholding acquisition of Swastik Oil Refinery Private Limited through cash consideration. Despite being classified as a related party transaction due to common directorship, the company has confirmed that the acquisition was conducted at arm's length.
| Parameter: | Details |
|---|---|
| Acquisition Cost: | ₹14,66,99,177 |
| Shareholding Acquired: | 100% |
| Nature of Consideration: | Cash |
| Regulatory Approval: | NCLT Kolkata Bench |
| Industry Sector: | FMCG (Edible Oil Manufacturing) |
Target Company Profile
Swastik Oil Refinery Private Limited, incorporated on April 23, 1997, operates from its registered office at 3, Pretoria Street, Chandrakunj, 3rd Floor, Kolkata, 700071. The company's manufacturing facility is located at Jalan Industrial Complex Gate No 3 PO Begri Dist Howrah, where it engages in oil manufacturing operations.
| Financial Parameter: | Amount |
|---|---|
| Authorized Capital: | ₹28,00,00,000 |
| Paid-up Share Capital: | ₹2,74,870 |
| Current Net Profit: | ₹2,59,110 |
| Current Turnover: | NIL |
Historical Performance
The acquired entity has maintained zero turnover across the past three financial years, reflecting its dormant operational status prior to the acquisition.
| Year: | Turnover (₹) |
|---|---|
| 2024-2025: | NIL |
| 2023-24: | NIL |
| 2022-23: | NIL |
Strategic Rationale
The acquisition aligns with Uma Exports' strategic objective to establish presence in the FMCG industry, specifically targeting the edible oil manufacturing segment. This move represents a diversification from the company's existing business operations and provides access to established manufacturing infrastructure in the Howrah industrial belt.
Regulatory Compliance
The disclosure was filed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, with additional details provided in compliance with SEBI Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The completion timeline follows the NCLT order specifications.
Historical Stock Returns for Uma Exports
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.65% | +0.10% | -4.85% | -27.85% | -61.11% | -75.16% |
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