UK Paints (India) now owns total of 50.092% stake in Berger Paint

Prior to this acquisition, the company owned 50.09 per cent stake in Berger Paints.

FPJ Web DeskUpdated: Thursday, November 17, 2022, 02:03 PM IST
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UK Paints (India) now owns total of 50.092% stake in Berger Paint | Berger Paints

UK Paints (India) buys an additional 0.002 per cent stake in Berger Paints, making it a total of 50.092 per cent stakes. Prior to this acquisition, the company owned a 50.09 per cent stake in Berger Paints.

It was in 2017 that both the KSD Family Trust and the GBS Dhingra Family Trust had sold 65,00,000 shares of Berger Paints each at Rs 232 on the BSE, and UK Paints (India) purchased 1,30,00,000 shares at Rs 232.

In the quarter ending in September for this financial year Berger Paints India has reported a consolidated net profit of Rs 219.51 crore, up from Rs 219.21 crore that was reported for the same period last year. The revenue from operations earned by Berger Paints for the quarter stood at Rs 2,670.9 crore, 20 per cent up from Rs 2,225 crore that it earned a year ago. The EBITDA for the quarter went up by 2.6 per cent at Rs 376.53 crore. It was at Rs 366.98 crore for the same quarter in the last financial year.

Berger Paints shares on the BSE opened today at Rs 609.10 up from last day's close of Rs 608.25.

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