Craftsman Automation Limited has informed the Exchange that the Board of Directors of the Company at their meeting held on 13th June, 2025, had approved the sale/disposal of the land and buildings of Sunbeam Lightweighting Solutions Private Limited, Wholly Owned Subsidiary, located at Gurgaon, subject to the approval of the Shareholders of the Company at the ensuing AGM
CRAFTSMAN · price
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Craftsman Automation's board, at its meeting on 13th June 2025, approved the sale of land and buildings at its wholly owned subsidiary Sunbeam Lightweighting Solutions located at 38/6 K.M. Stone, Delhi-Jaipur Highway, Narsingpur, Gurgaon, subject to shareholder approval at the upcoming AGM. Sunbeam has already shifted its manufacturing operations to Tapukara and Salarpur-Bhiwadi in Rajasthan in a phased move, and 100% of unionised workers at the Gurgaon plant opted for the Voluntary Retirement Scheme. No buyer has been identified yet, and the company confirmed that the buyer will not be a related party or part of the promoter group. Separately, the board re-appointed Sharp & Tannan as statutory auditors for a second 5-year term, appointed KSR & Co as secretarial auditors for 5 years, re-appointed S. Mahadevan & Co as cost auditors for FY26, and approved investing up to Rs. 20 crore in group captive power producers. The 39th AGM is scheduled for 21st July 2025, with the record date for dividend eligibility fixed as 14th July 2025.
This is a non-core asset monetisation since Sunbeam's manufacturing has already moved to Rajasthan — selling the old Gurgaon plant is likely to bring in cash without affecting ongoing operations. Investors should watch for the eventual sale price and buyer details, as this could be modestly positive for cash flows. The AGM-related items hint at a possible dividend declaration, which is a near-term positive for shareholders.