Transaction Details
ELGI Compressors USA Inc., a wholly owned subsidiary of ELGI Equipments Limited, has divested its entire stake in PLA Holding Company, LLC along with its subsidiary, Pattons of California, LLC.
Financial Impact and Contributions
The joint venture's financial contributions to ELGI Equipments Limited's consolidated financials for FY2025-26 were as follows:
- Share of Profit: USD 41,982, representing 0.09% of Consolidated Profit After Tax
- Share of Net Worth: USD 532,595, representing 0.23% contribution to Consolidated Equity as of 31st March 2026
- Turnover details were not provided as the JV was consolidated using the Equity Method
Transaction Timeline
- Agreement Date: 10 July 2026
- Completion Date: 10 July 2026 (transaction completed on the same day as signing)
Consideration Terms
The consideration received for the divestment includes:
- Cash payment of USD 100,000
- Release of exclusivity by the joint venture partner for oil flooded rotary screw air compressors in certain important counties of California, US
Counterparty Information
The buyer is Jeffery Brandon Todd, who was the Joint Venture partner. The disclosure confirms that he does not belong to the promoter/promoter group category of ELGI Equipments Limited.
Additional Information
The intimation has been hosted on the company's website at www.elgi.com and was signed by Rohit Gupte, Company Secretary & Compliance Officer (Membership No.: A12422) on July 11, 2026.