Date: 11.06.2026
Board Meeting Outcomes
Disinvestment / Strategic Actions
The company has entered into an MOU for acquisition of approximately 10.16 acres of industrial land situated at Village Vardha, Taluka Wada, District Palghar, Maharashtra. The land bears Gut Nos. 25, 29/2, 33/3 and 33/5.
The aggregate consideration for the land acquisition is ₹9,00,00,000 (Rupees Nine Crores Only).
The sellers/confirming parties are:
- Shri Dilipsingh Analsingh Hira
- Shri Surendrasingh Analsingh Hira
- Smt. Veena Kaur Pratapsingh Singh
- Smt. Harjaskaur Amarjeetsingh Wadhawa
- Shri Prakash Singh Harisingh Hira
The sellers are described as legal heirs/representatives of the original owners of the land.
The transaction is not with related parties and does not fall within related party transactions.
Token/earnest money of ₹11,99,000 (Rupees Eleven Lakhs Ninety-Nine Thousand Only) has been paid as per the terms of the MOU.
The acquisition is subject to completion of title verification, legal and technical due diligence, mutation/transmission formalities, receipt of required documents/approvals, and execution/registration of the final sale deed.
Possession of the land shall be handed over only upon execution and registration of the final sale deed.
The final sale deed is proposed to be executed within the period agreed between the parties, subject to completion of conditions precedent and due diligence requirements.
The MOU is described as a preliminary understanding, and the transaction will be completed only upon fulfilment of agreed conditions and execution of definitive documents.
The purpose of the acquisition is to support the company's existing business operations and future expansion plans, including establishment of new manufacturing and operational facilities, enhancement of production capacity, strengthening of infrastructure capabilities, and catering to long-term growth and strategic business objectives.
KMP / Board / Auditor Changes
Not Specified
Dividend Declaration or Non-Declaration
Not Specified
Financial Results
Not Specified
Other Operational / Legal / Strategic Disclosures
The disclosure is made under Regulation 30 read with Para B of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.