Outcome of Board Meeting dated 17.12.2025 regarding disinvestment.
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The Board of Dolphin Kitchen Utensils and Appliances Ltd, at its meeting on December 17, 2025, finalized the divestment of its entire 100% equity stake (97,400 shares) in step-down subsidiary Bhagat Marketing Private Limited (BMPL), which was a material subsidiary. BMPL contributed Rs. 3,019.88 Lakh in turnover, accounting for 46.35% of the company's consolidated turnover, and had a net worth of Rs. 2,546.68 Lakh (11.63% of consolidated net worth). The total consideration for the sale is Rs. 2.96 crore, with one of the buyers being the company's own Chairman and MD, Mr. Nipun Anantlal Bhagat (a promoter), who will acquire 80% of the shares. The transaction is a related party deal done at arm's length, and completion is expected by December 31, 2025, subject to regulatory approvals.
This is a significant divestment for shareholders, as the subsidiary being sold contributed nearly half of the company's consolidated revenue. Selling a material subsidiary to the promoter himself at a relatively small consideration of Rs. 2.96 crore (versus net worth of Rs. 25.47 crore) may raise concerns about valuation and could be viewed negatively by minority shareholders, potentially putting pressure on the stock price.