Saint-Gobain Sekurit gains 5% on parent company’s Rs 8000-crore investment plan

The glass and building-materials making conglomerate which has been expanding its business operations in India recently acquired stone wool manufacturer Rockwool India and glass wool maker Twiga.

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Saint-Gobain Sekurit India’s shares were trading 5 percent higher on August 28 morning after reports of its parent company Saint-Gobain India’s (SGI) said that the company  intends to invest nearly Rs 8,000 crore in its business operations in India.

Chairman B. Santhanam told news agency PTI, “The company will invest 90 percent of the said amount towards funding capital expenditure and the remaining on acquisitions.”

The glass and building-materials making conglomerate, which has been expanding its business operations in India recently, acquired stone wool manufacturer Rockwool India and glass wool maker Twiga.

Santhanam last week had said that Saint-Gobain Sekurit India’s parent company SGI was also looking for acqusition opportunities in the EV (electronic-vehicle) segment. The company provides insulation and water-proofing solutions for car batteries. “Whatever the battery type, we have materials that go into making batteries, but the final battery manufacturing, we will leave it to battery experts” he said in an interview to The Mint.

At 12.30 pm on the BSE, Saint-Gobain Sekurit India stock was quoting at Rs 115.25, up 3.97 percent or Rs 4.40.

In its results for Q1FY24, the company reported an 8.15 percent YoY (year-on-year) increase in revenue from operations at Rs 48.29 crore. Net profit for the quarter was up 2.47 percent YoY to Rs 7.05 crore. The operating profit margins for the quarter contracted by 227 basis points on a yearly basis to 17.46 percent.

Saint-Gobain Sekurit is engaged in the business of manufacturing automotive glazing solutions. The company specializes in producing a range of glass products for the automotive industry, including laminated windshields, tempered side windows, and panoramic roofs.

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