Shilp Gravures buys A consultants

Ahmedabad: The Ahmedabad-based Shilp Gravures Ltd (SGL), engaged in high precision electronically engraved rollers for gravure printing industry, announced diversification by acquiring the Vadodara-based A Consultants, dealing with processing of printing plates for digital flexography.

The Rs 3.21 crore acquisition is effective from May 1, 2008. In the next two years, the company would establish facilities for processing plates in Ahmedabad, Pune and Delhi with an investment of around Rs 5 crore, Mr Ambar Patel, Managing Director, said at a press conference here.

With this diversification, Shilp will be the first Indian company to offer under one roof both rotogravure and digital flexography technologies for the packaging industry of Asia, US and Europe.
With a client base of more than 300 in India and abroad, Shilp commands a25 per cent market share in electronically engraved rollers used in flexible packaging, printing, decorative laminated sheets and PVC flooring, specialty coating, etc, he added.
SGL closed the fiscal 2007-08 with more than 30 per cent growth in revenues (Rs 34 crore) and 100 per cent growth in net profit (Rs 5.86 crore).