Subsidiary agrees to transfer entire stake in associate Finemake Technologies to its founders

Wholly owned subsidiary Pidilite Ventures has agreed to transfer its entire stake in associate Finemake Technologies to Finemake's founders, for cash at an agreed valuation (undisclosed).

Tue 29 Sep 2026

Finemake FY26 Revenue

Rs. 24.36 Cr

Finemake FY26 PAT

Rs. (7.82) Cr

Finemake Net Worth

Rs. (6.18) Cr

Share of Consolidated Revenue

0.06%

Expected Completion Date

15th October 2026

What was announced

Pidilite's wholly owned subsidiary, Pidilite Ventures Pvt. Ltd. (PVPL), has agreed to transfer its entire shareholding in Finemake Technologies Private Limited, an associate company of PVPL, to Finemake's founders. The valuation is mutually agreed and has not been disclosed for confidentiality reasons. Once completed, Finemake will cease to be an associate of PVPL.

Size of the business being exited

• Finemake revenue for FY ended 31st March 2026: Rs. 24.36 Cr.
• Share of Pidilite's consolidated revenue for the same period: 0.06%
• Profit After Tax: Rs. (7.82) Cr. (a loss)
• Net Worth: Rs. (6.18) Cr. (negative)

Buyers and terms

• Buyers are Nallu Rajashekar and Sambasiva Rao Chowdary Chana, founders of Finemake.
• The buyers do not belong to the promoter or promoter group or group companies.
• The transaction is not a related party transaction.
• Consideration is to be received in cash at an agreed valuation upon completion.
• Expected date of completion: 15th October 2026.

How to read it

The unit being exited is very small in the context of Pidilite's consolidated revenue, at 0.06%, and was loss-making with a negative net worth in FY26. The transaction is a divestment of a minority/associate stake rather than of a core operating business of the listed company.

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