|
PNN
Mumbai (Maharashtra) [India], April 17: Sattva Sukun Lifecare Limited (Sattva Sukun, The Company) engaged in the manufacturing of aroma and home decor products, proposes to open its Right Issue and aiming to raise Rs 49.50 Crore. The company has received in-principle approval from the Bombay Stock Exchange on 27th March for its proposed rights issue. The net proceeds from the Rights Issue will be utilized to meet the working capital requirements of the company, support business expansion, and invest in existing subsidiaries. If deemed appropriate, the funds may also be used to form or acquire new subsidiaries or associate companies for business expansion and diversification, or to invest in identified companies with high growth potential. Mit Brahmbhatt, Managing Director of Sattva Sukun Lifecare Limited said, "The in-principle approval from BSE for the Rights Issue is an important milestone for us as we continue to strengthen our market position and drive innovation in burner manufacturing. The proceeds from this issue will be strategically utilized to strengthen our working capital, support business expansion, and invest in our existing and potential subsidiaries. As we continue to witness strong demand for our premium aroma and home decor products, this capital infusion will enable us to scale operations, enhance product innovation, and expand our market presence. Our robust financial performance, with a 65% increase in revenue and 126% growth in net profit for the nine-month period ended December 2024, reflects our operational efficiency and commitment to excellence. The company remains focused on leveraging new opportunities, expanding its digital footprint, and delivering value to all stakeholders. We are confident that this Rights Issue will further strengthen our foundation for long-term success. With the continued support of our shareholders, we will continue to drive innovation, expand our reach, and create sustainable value. We look forward to an exciting future filled with new opportunities and milestones." About Sattva Sukun Lifecare Limited: Sattva Sukun Lifecare Limited is a manufacturer of premium aroma and home decor products, specializing in Aroma Diffusers, Glass & Wooden Diffusers, Dhoop Burners (Bakhoor Dani), Essential Oils, Camphor Products, Decorative Lamps, and more. With a strong presence in both corporate and retail sectors, the company ensures quality and innovation in every product. Its extensive online presence on platforms like JioMart, Amazon, Flipkart, Meesho, Snapdeal, and IndiaMART makes its products easily accessible to customers nationwide. The company has a track record with over 20 years of experience and is committed to innovation and quality, driving growth and customer satisfaction across its diverse business operations. Key Highlights: * Q3 FY24-25: Net profit up 84%, revenue up 29%. * Nine-month FY24-25: Net profit up 126%, revenue up 65%. * Board approved Rs. 3,500 Lakhs investments in new and existing subsidiary. * Board approved Rs. 500 Lakhs allocated for business expansion. Financial Highlights: * For the quarter ended December 2024, revenue from operations was Rs. 195.54 lakh, 29% higher than Rs. 151.54 lakh in the corresponding quarter of the previous year. * For the quarter ended December 2024, Net profit for the quarter was Rs. 69.23 lakh, 84% higher than the previous year's Rs. 37.67 lakh. * For the nine-month ended FY24-25, the company's revenue from operations was Rs. 421.14 lakh, an increase of 65% over Rs. 256.09 lakh in the same quarter of the previous fiscal. * For the nine-month ended FY24-25, net profit for the period was Rs. 164.80 lakh, 126% higher than Rs. 73.03 lakh last year. Disclaimer: Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
|
