Kilburn Engineering Ltd. has announced the successful completion of its acquisition of M.E Energy Private Limited, a distinguished leader in waste heat recovery (WHR) and waste heat reutilization systems. This acquisition, effective from 20th February, 2024, for an aggregate consideration of INR 98,70,00,000/-, marks a significant milestone in Kilburn's strategic growth journey.
This acquisition is a decisive step for Kilburn Engineering Limited to emerge a comprehensive solution provider in the field of thermal engineering and heat recovery systems. By integrating M.E Energy's expertise, Kilburn enhances its product offering for its existing diverse client base while gaining access to new industries and clients. This strategic move aligns seamlessly with Kilburn's overarching objective of ensuring sustained, profitable growth and fortifying its capabilities, resulting in an enhanced value proposition for shareholders.
Mr. Amritanshu Khaitan, Director of Kilburn Engineering Limited, expressed his enthusiasm about the acquisition, stating, "This marks a significant stride in Kilburn's strategic growth trajectory. The integration of M.E Energy's expertise perfectly aligns with our mission to drive innovation and expand our service offerings. We are confident that this collaboration will not only enhance our competitive edge but also deliver sustainable value to our shareholders."
Mr. Ranjit Lala, Managing Director of Kilburn Engineering Limited expressed his optimism stating, "This union will augment the organizational prowess, as ME Energy specializes in the production of thermal engineering and heat recovery systems, a perfect complement to Kilburn Engineering's existing drying systems. This synergy will open doors to expanded sales opportunities by tapping into the existing client bases of both entities."
Mr. K. Vijay Kartha, Managing Director of M.E. Energy, shared his excitement about the strategic alliance, saying, "We are thrilled about the prospect of partnering with Kilburn Engineering. We anticipate substantial synergies in solutions, product offerings, and manufacturing capabilities in the thermal engineering systems domain, owing to our complementary business models. This partnership will propel M.E. Energy into its next phase of growth, benefiting from Kilburn's scale, expertise, and impeccable track record."
In terms of performance, M.E Energy initiated the year with an order backlog of Rs. 50 crores and closed the nine months ended December 31st, 2023, with an order backlog of Rs. 119 crores.
Shares of KILBURN ENGINEERING LTD. was last trading in BSE at Rs. 313.35 as compared to the previous close of Rs. 314.75. The total number of shares traded during the day was 280852 in over 277 trades.
The stock hit an intraday high of Rs. 316.00 and intraday low of 310.55. The net turnover during the day was Rs. 88397706.00. |
