Jyoti CNC Automation Ltd has acquired 20 acres of land at Tumakuru Machine Tools Park (TMTP) in Karnataka’s Tumakuru district on Friday (July 4), marking a strategic move for future expansion. The acquisition will be funded through internal accruals or debt, the company said.
Meanwhile, in a parallel development, non-promoter shareholders are set to divest a 6% stake in the company via block deals, with the total deal size estimated at ₹1,542 crore, including an upsize option of ₹304 crore, according to a CNBC-TV18 report dated June 27.
Last month, the company projected 35-40% topline growth under its current capacity. Chairman and Managing Director Parakram Jadeja noted that Jyoti CNC had reached a quarterly capacity of 6,000 machines, producing around 1,500 machines per quarter. “We have built 4,100 machines so far, so we can grow by 35-40%, not beyond that,” he said.
Jyoti CNC Automation stands among the foremost global manufacturers of metal-cutting CNC machines. The company has built a strong reputation within the defence and aerospace sectors. Its clientele includes prestigious organisations such as the Space Application Centre, BrahMos Aerospace, Turkish Aerospace, Tata Advanced Systems, Tata Sikorsky Aerospace, Bharat Forge, Shree-Ram Aerospace and Defence, Harsha Engineers, and Bosch Ltd, among others.
Shares of Jyoti CNC Automation Ltd closed higher by 1.32%, or ₹13.50, at ₹1,036 on Friday, July 4.
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