Kilburn Engineering Ltd - M&A Activity 2024

Plot No.6, MIDC - Saravali, Kalyan Bhiwandi Road, Distt. Thane 421 311 Maharashtra, India  : +91 2522 283000  : +91 2522 281026  : www.kilburnengg.com

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21[st] August, 2024

To To, The Corporate Relationship Department The Secretary BSE Limited The Calcutta Stock Exchange Ltd., P.J. Tower 7 , Lyons Range, Dalal Street, Fort Kolkata – 700 001 Mumbai - 400 001 Scrip Code: BSE 522101 Scrip Code: CSE 21022

Sub. : Press Release

Dear Sir / Madam,

Further to our disclosure dated August 21, 2024 and Pursuant to the Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosed herewith is a copy of the Press Release on proposed acquisition of ‘Monga Strayfield Pvt. Ltd.’ by our Company.

The above release will also be made available on the website of our Company at www.kilburnengg.com.

Yours faithfully,

For Kilburn Engineering Limited

Arvind Digitally signed by Arvind Bajoria Date: 2024.08.21 Bajoria 15:44:36 +05'30'

Arvind Bajoria

Company Secretary & DGM (Costing)

M.no. ACS – 15390

Encl: As above

AN ISO-9001: 2000 CERTIFIED COMPANY CIN : L24232WB1987PLC042956

REGD. OFFICE : FOUR MANGOE LANE, SURENDRA MOHAN GHOSH SARANI, KOLKATA – 700 001, INDIA.

Plot No.6, MIDC - Saravali, Kalyan Bhiwandi Road, Distt. Thane 421 311 Maharashtra, India  : +91 2522 283000  : +91 2522 281026  : www.kilburnengg.com

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Press Release

Kilburn Engineering Ltd. proposes to acquire Monga Strayfield Pvt. Ltd.

Mumbai, India – Kilburn Engineering Ltd. (BSE Code: 522101) is pleased to announce the proposed acquisition of Monga Strayfield Pvt. Ltd., a global leader in radio frequency drying and heating solutions, for a total consideration up to ₹123 crore, subject to adjustments, if any, on account of due diligence findings and on terms to be agreed in the definitive agreements.

This acquisition is aimed at a strategic and synergistic partnership that will enhance Kilburn’s portfolio and broaden its reach across various industries.

Monga Strayfield Pvt. Ltd., established in 1968, brings over five decades of expertise in radio frequency drying and heating solutions, alongside a strong presence in the sheet metal fabrication industry, catering to both the USA and European markets. In FY24, the company reported a total revenue of ₹72.90 crore, a PAT of ₹15.41 crore, and a closing cash balance of ₹33.28 crore.

The proposed acquisition of Monga Strayfield will significantly augment Kilburn's drying solutions portfolio, adding new capabilities in radio frequency drying and heating, while expanding its reach into industries such as textiles and packaged foods. Additionally, Monga Strayfield’s expertise in sheet metal fabrication offers a separate vertical that strengthens Kilburn's position in international markets.

Commenting on the acquisition, Mr. Ranjit Lala, Managing Director of Kilburn Engineering Ltd., said, “We are delighted to bring Monga Strayfield into our fold and are excited to leverage their domain knowledge in radio frequency drying and sheet metal fabrication. This acquisition complements Kilburn’s offerings and enables us to serve a broader customer base with enhanced solutions.”

Mr. Amritanshu Khaitan, Director of Kilburn Engineering Ltd., added, “This acquisition is not only a positive step in adding a new vertical to Kilburn but also shareholder value accretive, improving the company’s overall profitability due to Monga Strayfield's high operating margins. We believe this will propel Kilburn Engineering towards becoming a world-class manufacturer of dryers and heating solutions.”

About Kilburn Engineering Limited

With nearly four decades of experience, Kilburn Engineering Ltd. continues to lead the industry through technological advancements. Specializing in process design, engineering, and manufacturing, Kilburn provides equipment and systems for various process plants, primarily in the chemical and petrochemical sectors. The company is a market leader in solid, liquid, and gas drying systems, offering comprehensive solutions for industries including tea, fertilizer, carbon black, soda ash, pharmaceuticals, dyes, pigments, and specialty chemicals.

AN ISO-9001: 2000 CERTIFIED COMPANY CIN : L24232WB1987PLC042956

REGD. OFFICE : FOUR MANGOE LANE, SURENDRA MOHAN GHOSH SARANI, KOLKATA – 700 001, INDIA.

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Plot No.6, MIDC - Saravali, Kalyan Bhiwandi Road, Distt. Thane 421 311 Maharashtra, India  : +91 2522 283000  : +91 2522 281026  : www.kilburnengg.com

Kilburn’s core strength lies in the successful integration of world-class technologies. The company operates a state-of-the-art manufacturing facility in Thane, Maharashtra, spread over 8 acres, with an in-house pilot facility for testing various materials.

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