Intimation for sale of 100% equity stake of M/s Galaxy Certification Services Private Limited, wholly owned subsidiary of the Company
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EKI Energy Services Ltd has approved the sale of its entire 100% stake in wholly owned subsidiary Galaxy Certification Services Private Limited (formerly EKI Four Community Projects Pvt Ltd) to Mr. Bhuwan Modi, a Chartered Accountant, for a net consideration of ₹10 lakhs. The subsidiary generated revenue of ₹15.10 lakhs in FY25 and has a net worth of just ₹1.31 lakhs, representing only 0.003% of the company's consolidated net worth. The agreement was signed on May 7, 2025, with expected completion by June 30, 2025. The buyer is not related to the promoter group, making this an arm's length transaction.
The disposal is financially insignificant given the subsidiary's negligible contribution to revenue and net worth. Shareholders are unlikely to see any material impact on stock price or business operations; this appears to be routine portfolio cleanup of a non-core, dormant subsidiary.