Summary of Key Information:
Reporting Period (Quarter/Year): Not Applicable (Corporate Action)
Nature of Filing / Announcement: Outcome of Board Meeting under SEBI LODR Regulations 30 and 37A
Key Financial Highlights:
The business unit/undertaking being sold contributed:
- Turnover: ₹11.96 Crore (Revenue from operations excluding other income)
- This represents 16.27% of the total annual consolidated turnover of the Company (₹73.51 Crore)
- Asset Book Value: ₹48.19 Crore as at March 31, 2026
- This represents 27.70% of the audited net worth of the Company (₹173.94 crore) for the preceding financial year
Corporate Actions:
The Board has approved:
1. Sale/disposal of one business unit/undertaking situated at Plot No. PA-008-010 To 014, Multi-Product SEZ of Mahindra World City (Jaipur) Limited, Village- Kalwara, Jhai, Bhambhoriya, Bagru Khurd and Newta, Tehsil-Sanganer, District Jaipur- 302037 Rajasthan
2. Method of sale: Slump Sale on a going concern basis
3. Total consideration: ₹67.00 Crores (Rupees Sixty-Seven Crores only) as per draft Memorandum of Understanding
4. Buyer: M/s United Stones Private Limited (CIN: U14200RJ2015PTC047598), registered office at 1-6, NAKODA COLONY, NARSINGH PURA, BEAWAR, Ajmer, AJMER, Rajasthan, India, 305901
Other Significant Information:
Rationale for sale: Strategic portfolio optimization to unlock trapped economic capital, lean out operations, and mitigate segment risks
Utilization of proceeds: Allocation toward expanding high-margin core business verticals, reducing cost of loans, and reinforcing general working capital