Pidilite Ventures transfers entire stake in Pepperfry to TCC Concept via share swap deal

Pidilite Ventures (PVPL), a wholly-owned subsidiary of Pidilite Industries Limited, has transferred its entire shareholding in Pepperfry Limited to TCC Concept Ltd as part of a 100% share swap transaction.

The transfer was executed pursuant to TCC’s acquisition of shares in Pepperfry, resulting in PVPL holding a 2.20% equity stake in TCC Concept Ltd. Also Read: Pidilite Q2 Results: Profit up 8%, misses estimates; double-digit volume growth

The company clarified that the transaction does not qualify as a related party transaction and that the promoter and promoter group of PVPL do not have any interest in TCC Concept Ltd.

Pidilite Industries Ltd had reported an 8.2% year-on-year increase in consolidated net profit at ₹584.6 crore for the July–September quarter, compared with ₹540.3 crore in the same period last year.

Its revenue for the same quarter, rose 9.9% to ₹3,554 crore from ₹3,235 crore a year earlier, marginally ahead of the Street estimate of ₹3,525 crore. EBITDA increased 10.5% year-on-year to ₹850 crore, slightly lower than the estimated ₹853 crore.

Also Read: Pidilite Q4 Results: Profit jumps 40% YoY, misses estimates; declares ₹20 dividend

Pidilite Industries’ shares on the BSE closed today, January 6, at ₹1,504.75, up marginally by ₹0.05.