JK Lakshmi Cement has announced the acquisition of a 77.96% equity stake in NECEM Cements Ltd for a cash consideration of ₹19 crore, along with the assumption of certain past liabilities.
The acquisition is part of JK Lakshmi Cement's strategic plan to expand its footprint in the North East region and enhance its long-term sustainability by leveraging NECEM's limestone reserves. NECEM, incorporated in 1985, operates in the cement industry and reported a total revenue of ₹1.56 crore and a net loss of ₹4.59 crore for the financial year ending 31st March 2025. The acquisition is expected to be completed by 31st March 2026.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Business Desk and reviewed by Aman Shukla before publication.