Board in-principle approves sale of Navi Mumbai factory premises; registered office to shift

Board has given in-principle approval to sell the Navi Mumbai factory premises, land and building.

Thu 8 Oct 2026

Navi Mumbai turnover

~Rs. 20,00,00,000/-

Share of total annual turnover

about 25% of total annual turnover of Rs. 84,54,43,007/-

Completion timeline

within 6 months of signing definitive documents

Sale of the Navi Mumbai factory premises

The Board of Directors of the Company, at its meeting held on Thursday, October 08, 2026, considered and in principle approved the sale of the Company's factory premises situated at Navi Mumbai, together with the underlying land and building and other related assets, as may be applicable. This approval is subject to finalisation of the prospective purchaser, such terms and conditions as may be mutually agreed, and obtaining such statutory, regulatory and other approvals, consents and permissions as may be applicable.

The Company states that it is already in the process of transition of its manufacturing operations from the Navi Mumbai premises to its upcoming manufacturing facility at Gujarat. The Gujarat unit is being developed with larger and more suitable manufacturing infrastructure, with a view to providing enhanced capacity, improved operational efficiencies and greater flexibility to cater to the Company's future manufacturing requirements.

Any proposed sale or other transaction in relation to the Navi Mumbai premises shall be subject to the requisite approvals of the Members of the Company by way of Special Resolution, wherever applicable.

How large is the Navi Mumbai facility

• Approximately Rs. 20,00,00,000/- of the annual turnover is attributable to the Navi Mumbai facility, which constitutes approximately 25% of the total annual turnover of Rs. 84,54,43,007/-.
• The proposed sale is not pursuant to any Scheme of Arrangement and is not a slump sale, as stated in the disclosure.
• The definitive documents shall be signed in due course of time. The expected date of completion of the sale or disposal is within 6 months from the date of execution of definitive documents, subject to fulfilment of applicable conditions precedent and receipt of requisite approvals, consents and permissions.
• The consideration shall be determined upon finalisation of the prospective purchaser and the terms of the proposed transaction. The prospective purchaser has not yet been finalised; the name and details of the purchaser, including whether the purchaser belongs to the promoter, promoter group or group companies, are not available as on date and shall be disclosed upon finalisation.

Stated rationale and use of proceeds

• The proposal for sale of the factory premises is being undertaken in view of the Company's upcoming manufacturing facility at Gujarat. Consolidation of the Company's operations under one roof is expected to result in greater operational efficiency, better coordination and streamlined processes.
• The proposed disposal is intended to rationalise the Company's asset base and optimise the utilisation of its resources.
• The proceeds arising from the sale will be utilised for the operational requirements, capital expenditure and other general corporate purposes related to the Company's upcoming manufacturing facility at Gujarat.

Shifting of the registered office

• The Board considered and approved the proposal for shifting the Registered Office of the Company from Plot No. C-58, T.T.C. Industrial Area, Thane Belapur Road, Pawane, Navi Mumbai – 400705 to 1101, Universal Majestic, Behind RBK International School, Ghatkopar Mankhurd Link Road, Chembur (West), Mumbai – 400043.
• The shift is within the State of Maharashtra and under the jurisdiction of another Registrar of Companies.
• The stated reasons are operational convenience and administrative efficiency, and to facilitate effective management and streamlined administration of the Company's affairs.
• The proposed shifting is subject to the approval of the members of the Company, the Regional Director, Ministry of Corporate Affairs and such other approvals as may be required.

Points a retail investor may note

• The sale has been approved in principle; the purchaser, the consideration and the definitive documents are yet to be finalised, so those are the items the Company would complete in the course of time.
• The Navi Mumbai facility accounts for approximately 25% of the Company's total annual turnover, which places the timing of the Gujarat facility and the completion of the sale at the centre of this transition.
• The transaction is to be undertaken in compliance with the applicable provisions, including obtaining the requisite approval of the shareholders by way of special resolution, wherever applicable, and subject to such other regulatory and statutory approvals and compliances as may be required.
• The Board meeting commenced at 12 noon and concluded at 12:40 P.M.

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