Shares of Gokaldas Exports have now doubled so far in 2023 courtesy the surge seen in today's trading session. The stock is now trading at a record high.
Monday evening that it had entered into an agreement to acquire Atraco Group, a leading apparel manufacturer for $55 million.
Atraco, founded in 1986 has a product range that spans from shorts to t-shirts
dresses across age groups. Dubai-based Atraco reported a revenue of $107 million
with a net profit of $7.2 million for the calendar year 2022.
Atraco also has a working capital debt of around $15 million.
Ganapathi further said that the acquisition has a peak revenue potential of Rs 3,500 crore to Rs 4,000 crore by financial year 2026
Ganaptahi spoke about cross-selling opportunities arising from this acquisition. He said that they have only one common customer.