Their core business was textiles. Diversifying the business is not a bad thing given the fact that the company is almost 100 years old and diversification is necessary.
Creating separate companies (lifestyle, real estate and engineering), each with its own management (and that too by professionals and not just family) brings focus
Textiles to real estate may sound odd but the trigger for that is the land bank they have. They could have just sold the land and taken the money and distributed it as dividends or invest further in core textile business. But they saw it as an opportunity to diversify and grow which seems to be working with the revenues they are generating
The latest acquisition of Maini precision looks little aggressive but it clearly shows that they want to de-merge engineering business as a separate entity and want to grow it
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