Board approves liquidation of Dutch step-down subsidiary Rubber Resources B.V.
ELGIRUBCO · price
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On the reaction day the stock moved 0.2 pts more than Nifty Microcap 250 and 1.6 pts less than its Rubber peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Board approved voluntary liquidation of wholly owned step-down subsidiary Rubber Resources B.V. in the Netherlands. The unit contributed 26.51 percent of revenue (about INR 1,017.8 million) but had a negative net worth of INR 720.8 million as on March 31, 2025. Shareholders had already cleared this through postal ballot in July 2025. Liquidation is expected to complete by December 31, 2026, subject to Dutch approvals. Company terms it an orderly exit in its best interest.
Removes a loss-making unit eroding net worth, but revenue base shrinks by about a quarter. Likely neutral to mildly positive over the long term.