The acquisition as explained earlier has been done at book value of Shyam Tex International which means no premium or goodwill has been paid for the running established business, possible revaluation of assets primarily land, and a well established clientele book.
It will also remove any possible doubts regarding conflict of interest amongst prospective investors as Shyam Tex International was technically a group company.
The company is expected to close the year 2005-2006 with a turnover of around Rs.182 crores and PAT of close to Rs. 8 crores. At the same time Shyam Tex International Limited is expected to do a turnover of Rs.100 crores with a Net Profit of Rs, close to Rs. 4.35 crores for the year ending March 2006.
The company after completion of acquisition will achieve a consolidated turnover of Rs.300 Crores with a net profit of Rs.18 Crores on Equity of 26 Crores. The realization from the Real Estate Projects will start planning from the year 2008.
Shivalik Global is a manufacturer of knitted garments for men, woman and children. It has grown at an enviable pace and is today placed in the select club of textile export oriented industries in the country.
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