Euro Pratik Sales Limited has announced the acquisition of a 51% stake in Drashti Surfaces Private Limited for Rs 31.12 Crores. Drashti is a manufacturer of decorative veneers and laminates. Together with its current range of decorative surfaces, this move takes the company closer to being a one-stop solution for interior surfaces. It gives architects, designers and channel partners more choice under one trusted name.
The company has delivered steady growth despite higher raw material prices and increased freight costs, driven by geopolitical uncertainty and logistics disruptions. The Q2FY revenue of the company stands at Rs 115.7 Cr (+20% YoY) which is its highest ever revenue, posted in a quarter. The EBITDA was recorded to be Rs 37.4 Cr (+18% YoY) whereas Profit After Tax (PAT) has been estimated to be Rs 26.2 Cr which depicts 15% YoY increase and also the highest ever quarterly PAT of the company.
Commenting on the result, Mr. Pratik Singhvi – Chairman & Managing Director said,” Input cost and freight pressure eased margins slightly. EBITDA margin was 31.4% and PAT margin 22.0%, both still healthy. Our acquisition of Drashti Surfaces adds in-house manufacturing and premium laminates and veneers to our portfolio.
“This acquisition will further accelerate growth by expanding our customer base, broadening product portfolio, and adding in-house manufacturing capabilities. Going forward, we aim to leverage the expanded capabilities and the strength of the business to unlock greater value and strengthen our market position. It marks a decisive move of the company “From Curating to Creating”, we now have our own manufacturing, and it’s a proud Make in India step for us”, added Mr Singhvi.