Sumeet Industries Limited, a leading integrated polyester manufacturer, has announced the acquisition of assets at the Phase-3 Chips Manufacturing Plant of Nakoda Limited under the Corporate Insolvency Resolution Process. The company has been declared the highest bidder for the transaction and has received a Letter of Intent dated 11 March 2026, which has been approved by its Board of Directors.
The acquisition, structured as a slump sale, includes land and building measuring approximately 11,534 square metres along with the complete plant and machinery located at the Phase-3 facility in Surat. With a total consideration of around ₹23.47 crore, the transaction will provide Sumeet Industries with full ownership and control of the acquired assets, subject to required approvals.
This development marks a significant step in strengthening the company’s position within the polyester value chain. The acquired facility is expected to add an incremental production capacity of approximately 400 tonnes per day of polyester chips, translating to an annual capacity of nearly 1,46,000tonnes based on full-year operations. Polyester chips serve as a key raw material for the production of yarns such as Partially Oriented Yarn (POY) and Fully Drawn Yarn (FDY), both of which form an integral part of Sumeet Industries’ existing product portfolio.
The acquisition aligns closely with the company’s long-term strategy of expanding its manufacturing capabilities while enhancing integration across its operations. By adding capacity in a segment that directly feeds into its downstream yarn production, the company aims to improve supply chain efficiency and reduce dependence on external sourcing.
The proximity of the acquired facility to Sumeet Industries’ existing operations is expected to offer operational advantages. This includes improved logistics, better coordination between production units and enhanced efficiency in resource utilisation. The company anticipates that these synergies will support smoother scale-up of operations and enable more effective capacity management as demand grows.
Commenting on the acquisition, Pratik R Jaju, Managing Director of Sumeet Industries Limited, stated that the addition of the new facility will strengthen the company’s presence in polyester chips manufacturing while supporting its downstream yarn business. He noted that the expanded capacity will provide greater flexibility in production planning and help meet future growth requirements across the company’s polyester portfolio.
The transaction is expected to be completed within 180 days from the date of signing of the Letter of Intent, which is 17 March 2026. Upon completion, the company will integrate the new facility into its existing operations as part of its broader expansion plan.
Incorporated in 1988, Sumeet Industries Limited is headquartered in Surat and operates as an integrated polyester manufacturer producing PET chips, POY, FDY and polyester texturised yarn. The company was acquired by the Eagle Group following an order by the National Company Law Tribunal in July 2024. The promoters of Eagle Group bring over four decades of experience in the textile industry, contributing strong technical and operational expertise.
Sumeet Industries operates a modern manufacturing facility supported by advanced quality testing and research infrastructure, enabling the development of a wide range of yarn products. The company is also in the process of expanding its polyester yarn capacity, with Phase 1 involving an addition of 15,000 tonnes per annum backed by an investment of ₹30 crore.
In line with its sustainability initiatives, the company has invested in renewable energy sources, including a stake in a 14 MW solar power project and access to wind power through group captive arrangements. It continues to explore additional renewable energy options to support its manufacturing operations.
With a focus on expanding its product portfolio, Sumeet Industries is also developing value-added offerings such as bright and dope-dyed yarns to cater to diverse applications in the domestic textile market. For the nine months ended FY26, the company reported total income of ₹786.83 crore, EBITDA of ₹46.09 crore and profit after tax of ₹26.88 crore. The acquisition reinforces Sumeet Industries’ growth strategy and its commitment to building scale, efficiency and long-term competitiveness in the polyester manufacturing sector.
