Sumeet Industries Limited on 18 March 2026 announced the acquisition of assets at a polyester chips manufacturing plant in Surat to expand its production capacity. The transaction, valued at approximately INR 234.7 million, will provide the company with full control of the acquired assets and is expected to be completed within 180 days from 17 March 2026.
Sumeet Industries has been declared the successful bidder for the acquisition of Phase-3 chips manufacturing plant assets of Nakoda Limited under the Corporate Insolvency Resolution Process. The board approved the Letter of Intent dated 11 March 2026 for the acquisition under a slump sale arrangement.
The acquisition includes land and buildings measuring approximately 11,534 square metres along with the entire plant and machinery at the facility. The transaction is subject to necessary regulatory approvals, if any.
The additional facility is expected to add approximately 400 tonnes per day of polyester chips production capacity, equivalent to approximately 146,000 tonnes per annum assuming 365 operating days. The polyester chips will be utilised in spinning units for manufacturing partially oriented yarn (POY) and fully drawn yarn (FDY).
“This acquisition strengthens our presence in the polyester value chain and expands our Polyester Chips manufacturing capacity. The addition of this facility enhances our production scale and supports better integration with our downstream yarn business including POY and FDY,” said Pratik R. Jaju, Managing Director of Sumeet Industries Limited.
“Given the proximity of the acquired plant to our existing operations, we expect improved operational alignment and efficiency as we scale up capacity. This also provides us with greater flexibility in managing production and supporting future growth requirements across our polyester portfolio,” he added.
Sumeet Industries Limited, incorporated in 1988 and based in Surat, manufactures polyethylene terephthalate (PET) chips, partially oriented yarn (POY), fully drawn yarn (FDY), and polyester texturised yarn. In the first nine months of FY2026, the company reported total income of INR 7,868.3 million, EBITDA of INR 460.9 million, and profit after tax of INR 268.8 million.
