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EPC Industrie gains after forming JV with Israel firm
16-May-18   10:09 Hrs IST

The announcement was made after market hours yesterday, 15 May 2018.

Meanwhile, the S&P BSE Sensex was down 284.80 points, or 0.80% to 35,259.14.

On the BSE, 18,000 shares were traded in the counter so far compared with average daily volumes of 69,000 shares in the past two weeks. The stock had hit a high of Rs 144.80 and a low of Rs 140.65 so far during the day. The stock hit a 52-week high of Rs 215 on 10 July 2017. The stock hit a 52-week low of Rs 128 on 26 March 2018.

EPC Industrie will hold 60% stake in the joint venture (JV) while Top Greenhouses will hold remaining 40%. The JV company will focus on protected cultivation business providing specialised, cutting edge and relevant technologies to Indian market. The JV will bring out the best by combining the ingenuity of Israel to the big Indian market, the firm said.

Net profit of EPC Industrie rose 34.95% to Rs 4.44 crore on 37.76% rise in net sales to Rs 76.29 crore in Q4 March 2018 over Q4 March 2017.

EPC Industrie is one of the pioneering companies in India in the micro-irrigation space and one of the major players in organised segment. As on 31 March 2018, Mahindra and Mahindra (M&M) held 54.65% stake in EPC Industrie.

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