Sical Logistics acquires Patchems Private for Rs 9.5 crore

India Infoline News Service | Mumbai | June 13, 2017 10:49 IST

Sical Logistics announced that it has completed the acquisition of Patchems Private Limited, an integrated supply chain solution provider including warehousing/logistics, for a total consideration of Rs 9.50 crore, the company informed the regulator in a filing.

Logistics storehouse
Sical Logistics announced that it has completed the acquisition of Patchems Private Limited, an integrated supply chain solution provider including warehousing/logistics, for a total consideration of Rs 9.50 crore, the company informed the regulator in a filing.
 
Patchems Private Limited is a logistics company and provides other value-added services to clients in Pharma and FMCG space. It manages approximately 4 lakh sq.ft. of ware house space for various clients based out of Bhiwandi, in the outskirts of Mumbai.
 
The company’s gross turnover for FY2016-17 is Rs 22.15 crore as compared to Rs 20.29 crore for 2015-16.
 
Sical Logistics in the filing added that the company has acquired 51% of the share capital during the month of June 2017 and the balance will be acquired in staggered stages and will be completed on or before 30 June 2020.

Stock view:
 
Sical Logistics Ltd is currently trading at Rs 252.65, up by Rs 3.65 or 1.47% from its previous closing of Rs 249 on the BSE.
 
The scrip opened at Rs 254 and has touched a high and low of Rs 255.7 and Rs 252.65 respectively. So far 10325(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1384.44 crore.
 
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 285 on 11-May-2017 and a 52 week low of Rs 142 on 10-Aug-2016. Last one week high and low of the scrip stood at Rs 265.2 and Rs 248 respectively.
 
The promoters holding in the company stood at 56.55 % while Institutions and Non-Institutions held 1.78 % and 41.68 % respectively.
 
The stock is currently trading below its 50 DMA.


***Note: This is a NSE Chart

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