Date: October 3, 2026
Disinvestment / Strategic Actions
add solution GmbH, Germany, a step-down subsidiary of AXISCADES Technologies Limited, has been placed under voluntary solvent liquidation. The subsidiary was engaged in business affected by the downturn in the automotive industry in Germany and had been reporting continuous losses for several quarters.
The special resolution for voluntary dissolution was adopted on September 24, 2026, with the dissolution becoming effective from September 25, 2026. The dissolution was registered with the German Commercial Register on October 1, 2026, effective from September 25, 2026.
Financial contribution of the subsidiary as of March 31, 2026:
- Turnover: ₹1,562.20 lakhs (1.35% of group turnover)
- Net worth: -₹1,437.11 lakhs (-1.96% of group net worth)
The liquidation is being undertaken as part of the Group's business rationalization initiatives. The company states that the assets to be received on liquidation shall not be material, and the transaction is not expected to have any material impact on the operations or profitability of the Company.
The winding up process shall be completed as per the applicable laws of Germany. The disclosure confirms that this is not a related party transaction and does not fall under Regulation 37A of LODR Regulations.