Sumeet Industries Ltd (NSE: SUMEETINDS | BSE: 514211) shares were trading around ₹30.29, up ₹0.47 (1.58%) on March 18, 2026. The stock opened at ₹29.82, touched a high of ₹30.89, and a low of ₹29.74 during the session. The company’s market capitalization is around ₹1,590 crore.
Sumeet Industries on Wednesday announced that it has secured a ₹23.47 crore acquisition to strengthen its polyester chips manufacturing capacity.
According to the company’s official press release , the company has been declared the successful bidder (H1 bidder) for acquiring assets of Nakoda Limited’s Phase-3 Chips Manufacturing Plant under the corporate insolvency resolution process.
The acquisition includes land, building, and plant machinery spread over approximately 11,534 square meters in Surat. The company will gain 100% control of the acquired assets through this deal.
Sumeet Industries said the acquisition will lead to a capacity addition of around 400 tons per day, equivalent to nearly 1.46 lakh tons annually. The polyester chips produced will be used in the company’s existing yarn manufacturing business, including POY and FDY.
The company highlighted that the move will help expand its presence in the polyester value chain and improve operational efficiency, as the acquired facility is located close to its existing operations.
The transaction is expected to be completed within 180 days from March 17, 2026, subject to regulatory approvals.
Commenting on the development, Managing Director Pratik R. Jaju said the acquisition will enhance production scale, improve integration with downstream operations, and support future growth across the company’s polyester portfolio.
Sumeet Industries is a Surat-based integrated polyester manufacturer engaged in producing PET chips, POY, FDY, and polyester texturized yarn. The company continues to focus on capacity expansion and value-added products to strengthen its market position.
The stock saw a modest gain during the trading session following the announcement.
