Summary of Key Information:

Reporting Period (Quarter/Year): Not Applicable (Corporate Action)

Nature of Filing / Announcement: Outcome of Board Meeting - Business Acquisition

Key Financial Highlights:

Not Specified

Corporate Actions:

  • Board approved execution of Business Transfer Agreement dated 13 August 2026 between Foseco India Limited and Vesuvius India Limited
  • Acquisition of VIL's business undertaking situated at 212/B, G.I.D.C. Estate, Mehsana, Gujarat – 384 002
  • Manufacturing facility primarily engaged in manufacture of crucibles, stoppers and sleeves for non-ferrous industrial sector
  • Acquisition as going concern by way of slump sale
  • Lump-sum consideration: INR 43,25,00,000 (Indian Rupees Forty Three Crore Twenty Five Lakhs)
  • Consideration subject to adjustments as per Business Transfer Agreement
  • Payment method: Cash consideration

Operational Details of Acquired Facility:

  • Mehsana Facility turnover performance:
  • FY2023 (31 December 2023): INR 4,643 lakh
  • FY2024 (31 December 2024): INR 4,842 lakh
  • FY2025 (31 December 2025): INR 5,813 lakh
  • FY2025 Mehsana Facility turnover represented 2.76% of VIL's total turnover of INR 210,433 lakh
  • Facility operates through two business segments:

(i) Manufacturing wide range of crucibles in various sizes and specifications

(ii) Manufacturing foundry consumables and accessories including Ingate Sleeves, Rotolok, Inserts, and Ladle Bowls

Strategic Rationale:

  • Strengthen Company's business by increasing scale
  • Expand customer base and enhance geographic and operational coverage
  • Strengthen product portfolio
  • Increase scale following recent acquisition of Morganite Crucible (India) Limited (now Foseco Crucible (India) Limited)
  • Unlock synergy with existing manufacturing, sales, and distribution capabilities
  • Enhance long-term value for shareholders
  • Acquisition falls within Company's main line of business

Transaction Timeline:

  • Targeted completion: Latest by 31 December 2026

Other Significant Information:

  • Vesuvius plc, UK is the ultimate holding company of both Foseco India Limited and Vesuvius India Limited
  • Neither Vesuvius plc, UK nor any other Vesuvius group company has any direct or indirect interest in the Proposed Transaction
  • VIL date of incorporation: 6 September 1991