Amber Enterprises India Limited has informed the Exchange about Diversification/Disinvestment by Sidwal Refrigeration Industries Private Limited ("Sidwal"), a material subsidiary of the Company of the entire 49% equity stake held by Sidwal in its joint venture, Shivaliks Mercantile Limited ("Shivaliks") on 30th March 2026, consequent to which Shivaliks has ceased as Joint Venture of Sidwal
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Amber Enterprises' material subsidiary Sidwal Refrigeration Industries has sold its entire 49% stake (about 10.98 crore equity shares) in its joint venture Shivaliks Mercantile Limited to J P Fincap Private Limited, an independent third party. The sale was completed on 30th March 2026 at a nominal price of roughly Rs. 1.10 lakh, meaning Sidwal is essentially giving up the stake for token value. Importantly, Sidwal had already written off its full investment in Shivaliks in its Q3 FY26 results (quarter ended December 2025). Shivaliks was loss-making, reporting a negative PAT of Rs. 2,562.49 lakh for FY25, and contributed nothing to consolidated net worth. As a result, Shivaliks has ceased to be a joint venture of Sidwal.
This is a non-event for shareholders — the JV was already a loss-making, fully written-off investment, so divesting it at nominal value removes a drag from the books without any real financial loss. No impact on Amber's core air-conditioner manufacturing business or consolidated earnings.