The company will acquire assets and business operations of Heubach Colorants Germany GmbH, Heubach GmbH, Dr. Hans Heubach GmbH, and Heubach Group GmbH and participations held by Heubach Holding Switzerland AG, in downstream group companies in various countries from insolvency administrator in the aforesaid countries.

Further, it will also acquire 100% shareholding of Heubach Holdings S.a.r.l., a Luxemburg based Heubach Group Company having investments in shareholding in companies based in India and USA.

Post-acquisition, the combined entity will have a comprehensive pigment portfolio of high-quality products and a strong presence in major markets including Europe and the Americas. It will enhance the company's product portfolio, giving it deeper access to customers and a diversified asset footprint across 19 sites globally.

The company will acquire for total consideration of Rs 1,180 crore (Euro 127.5 million) and said transaction is expected to close in 3-4 months.

Sudarshan Chemical Industries is a leading color & effect pigment manufacturer. It primarily serves the coatings, plastics, inks and cosmetics markets.

The company's consolidated net profit fell 89% to Rs 29.43 crore in Q1 FY25 as compared with Rs 266.96 crore in Q1 FY24. Net sales increased 4.1% YoY to Rs 626.70 crore in Q1 FY24.

The counter hit an all time high of Rs 1,216.55 in intrady today.

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