The promoters of KS Oils Ltd, one of the leading edible oil makers with brands like Kalash, Double Sher, KS Gold, among others, under ts belt, have pledged close to 6% stake in the company with IDBI Trusteeship Services. The company had recently hit the headlines after a clutch of firms promoted by serial investor C Sivasankaran started picking up shares in the company. The NRI businessman is also lapping up shares in Ruchi Soya, another edible oil maker besides the passive telecom infrastructure provider Sujana Towers from the open market.
KS Oils, in a regulatory filing, said that the promoters of the company had pledged 2,47,15,200 shares of the company with IDBI Trusteeship Services. This roughly translates into 5.80% stake in the edible oil maker. IDBI Trusteeship said that the firm had picked up the stake in KS Oils in the ?capacity as security trustee and power of attorney holder.?
KS Oils are mainly into the business of manufacturing mustard oil, Vanaspati, refined oil and other by-products. Its flagship brands include Kalash Mustard Oil Double Sher Mustard Oil, Kalash Refined Soyabean Oil, Kalash Refined Sunflower Oil, KS Gold Palmolein and K S Gold Vansapati. The company claims to have a market share of 11% in the branded edible oil segment.
As of the quarter ended December last, the company had clocked a net sales of R1,335.31 crore and grossed a net profit of R53.49 crore.
The company has a paid-up equity share capital of R42.54 crore and the R1 stock is currently trading in the range of R 32-R 33. The stock has a 52-week high of R80.25 and a 52-week low of R28.55.