Euro Pratik to buy Drashti majority for Rs 31.12 crore

Euro Pratik Sales Limited will buy a 51% stake in Drashti Surfaces Private Limited for Rs 31.12 crore, adding in-house premium veneer and decorative-laminate manufacturing to its portfolio. The transaction also includes a loan commitment of up to Rs 20 crore and has an outer closing date 90 days after agreement execution.

What is Euro Pratik buying from Drashti Surfaces?

Euro Pratik is buying a 51% stake in Drashti Surfaces, a manufacturer of premium veneers and decorative laminates. The November 5, 2026 investor presentation describes the deal as an acquisition of a majority stake, rather than a purchase of the entire company, and identifies the consideration as Rs 31.12 crore.

Drashti Surfaces has two disclosed production sites: a laminate facility in Silvassa, Dadra and Nagar Haveli, and a veneer facility in Bhilad, Gujarat. Its laminate range includes wood, marble, abstract, textile and solid-colour series, along with Zero Series synchronized laminates, release-paper laminates and edge bands.

The veneer operation produces natural, fumed, metallic, dyed and marquetry veneers. Drashti Surfaces says its Bhilad site has a veneer dyeing line imported from a European supplier, while its 6-acre campus includes 1.80 lakh square feet of balance floor-space index, or FSI.

The acquisition gives Euro Pratik a majority interest in manufacturing across two surface categories. Before the deal, Euro Pratik described itself as a seller and marketer of decorative wall panels and laminates, supported by more than 45 contract manufacturers in India and overseas markets including South Korea, China, the United States and Turkey.

How much will Euro Pratik commit to the transaction?

Euro Pratik has disclosed Rs 31.12 crore as purchase consideration for the 51% stake and a separate loan commitment of up to Rs 20 crore to Drashti Surfaces. The presentation says the transaction will be funded from internal accruals and does not identify an external borrowing or equity-issuance plan.

The loan commitment is distinct from the stake consideration. If the full facility is extended, the disclosed purchase price and potential lending would total Rs 51.12 crore, but the presentation does not state that Drashti Surfaces will draw the full Rs 20 crore.

Euro Pratik does not disclose the loan’s interest rate, repayment date, security, intended use or drawdown schedule. It also does not specify whether the Rs 31.12 crore consideration is payable entirely at closing or includes deferred payments, so the timing of cash outflows is not set out in the announcement.

How does the acquisition alter Euro Pratik’s operating model?

Euro Pratik says the deal moves it from curating products toward creating them by adding its own manufacturing facility for premium veneers and decorative laminates. Management describes this as part of a shift from a niche decorative brand to a full-surface lifestyle brand spanning panels, laminates, veneers and more.

The company’s existing asset-light model used more than 45 contract manufacturers and supported a portfolio of more than 30 product categories and 3,300 designs. Euro Pratik also says it launches more than 1,000 designs annually, while its distribution network covers 195 cities and 208 distributors across 25 states and six Union Territories.

Drashti Surfaces provides an owned-manufacturing route alongside that contract-manufacturing base. The presentation does not quantify expected procurement savings, revenue synergies, integration costs or margin effects from combining its laminate and veneer capabilities with Euro Pratik’s wall-panel and laminate sales platform.

Euro Pratik’s management links the plan to its Make in India and Aatmanirbhar Bharat positioning. That is a stated strategic objective, not a financial forecast, because the presentation contains no target for post-acquisition capacity use, profitability, cost savings or return on the Rs 31.12 crore equity consideration.

What capacity and sales volumes does Drashti Surfaces disclose?

Drashti Surfaces has installed laminate capacity of 1,20,000 sheets a month on a 1.00 millimetre basis, with 75% utilisation disclosed. It sold 10.69 lakh laminate sheets in FY 2025-26, a 15% year-on-year increase according to the presentation.

The veneer plant has installed capacity of 7,500 pieces a month and was 50% utilised in FY 2025-26. The 25-percentage-point difference between the disclosed 75% laminate utilisation and 50% veneer utilisation shows that the two manufacturing lines were operating at different levels during the reported year.

The presentation does not provide revenue, profit, realised price or order-book data for either facility. It does, however, list projected revenue of Rs 120 crore in FY27-28 in the acquisition snapshot, without specifying whether that projection applies to Drashti Surfaces alone, Euro Pratik after consolidation, or another business perimeter.

When is the Drashti Surfaces deal expected to close?

Euro Pratik has set an outer date of closure of 90 days from execution of the Share Purchase / Subscription Agreement. As the November 5, 2026 presentation does not disclose the agreement-execution date, it does not establish a calendar date for completion or confirm that the transaction has closed.

The announcement does not list regulatory approvals, lender permissions, shareholder consents or other conditions that may be required before completion. The 90-day outer date is therefore the only stated timing mechanism, rather than a detailed timetable for closing steps.

The projected Rs 120 crore FY27-28 revenue is presented alongside the consideration, funding source and closure timing. Because its scope is not defined, the figure cannot be used from this presentation alone to determine a revenue multiple for the Rs 31.12 crore purchase consideration.

Euro Pratik also does not disclose post-closing governance arrangements, the identities of the continuing holders of the remaining 49% stake, or integration milestones for the Silvassa and Bhilad facilities. Those omissions leave the operational structure after a majority acquisition unspecified.

Conclusion

The proposed transaction would give Euro Pratik a 51% interest in a producer with 1,20,000 sheets of monthly laminate capacity and 7,500 monthly veneer pieces of installed capacity. Together with the company’s existing 45-plus contract-manufacturer model, the deal is management’s stated move toward controlled production in decorative laminates and premium veneers.

The next disclosed event is the outer closing deadline, 90 days after the Share Purchase / Subscription Agreement is executed. Investors will need to watch for disclosure of that execution date, the terms and use of the up-to-Rs 20 crore loan commitment, and clarification of the business scope behind the Rs 120 crore FY27-28 projected revenue.