Main Disclosure – Asset Sale Details

Asset Being Sold

Land and building admeasuring approximately 11 Bigha 02 Biswa 13 Biswasi, situated at Village Devinagar, Tehsil Derabassi, District S.A.S. Nagar (Mohali), Punjab.

Transaction Value

Aggregate consideration of ₹9,05,00,000/- (Rupees Nine Crores Five Lakhs Only).

Counterparty/Buyer

M/s VSB Enterprises, a Partnership Firm having its office at House No. 619, Sector-18B, Chandigarh - 160018.

Mode of Consideration

Cash consideration.

Valuation Basis

The carrying value of the land and building as on March 31, 2026 was approximately ₹3.35 Crores.

Rationale for Sale

Monetization of the land and building asset of the Company while ensuring continuity of business operations through lease-back arrangement with the purchaser.

Impact on Operations

The land and building is presently being utilized for the business operations of the Company. Post-sale, the Company shall continue to use and occupy the said premises under a lease arrangement to be entered into with the purchaser. The transaction will not result in closure, discontinuation or material disruption of business operations.

Financial Impact

The revenue generated from operations carried out from the said premises during FY2026 amounted to ₹46.47 crores, representing approximately 6% of the revenue from operations of the Company. The carrying value of ₹3.35 Crores represented approximately 0.72% of the net worth of the Company as per last audited financial statements.

Related Party Status

No. The purchaser is not related to the Promoter, Promoter Group or Group Companies of the Company. None of the Promoters, Directors, Key Managerial Personnel or their relatives are concerned or interested in the transaction.

Regulatory Status

The proposed sale does not constitute sale, lease or disposal of an undertaking or substantially the whole of an undertaking of the Company within the meaning of Section 180(1)(a) of the Companies Act, 2013. The transaction is not part of any Scheme of Arrangement.

Approvals Required

Board of Directors approval obtained on June 19, 2026. Definitive transaction documents are proposed to be executed subsequently.

Indicative Timeline

The transaction is proposed to be completed upon fulfilment of conditions precedent, payment obligations and execution/registration of the Sale Deed.

Other Updates

  • Board meeting was held on June 19, 2026, commencing at 5:30 PM and concluding at 8:30 PM.
  • The disclosure is made pursuant to Regulation 30 read with Schedule III of SEBI Listing Regulations and SEBI circulars SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated 13th July, 2023 and HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.