GOCL Corporation Limited has informed the Exchange about Diversification/Disinvestment
GOCLCORP · price
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Awaiting price reaction for this filing.
GOCL Corporation's Board has approved selling its entire stake in IDL Explosives Limited (IDLEL), a wholly owned material subsidiary, to Apollo Defence Industries Private Limited (a subsidiary of listed Apollo Micro Systems Limited) for Rs. 107 crores via a Share Purchase/Sale Agreement signed on May 2, 2025. IDLEL contributed Rs. 623 crores (about 87%) of GOCL's consolidated turnover for FY24, though its net worth was only Rs. 10 crores (0.71% of consolidated net worth), suggesting significant accumulated liabilities or losses. The transaction is not a related-party deal and the buyer is not from the promoter group. Completion is expected in 2–3 months, subject to shareholder approval via postal ballot and regulatory clearances.
This is a major strategic move — GOCL is divesting nearly its entire revenue-generating business (87% of turnover), which will dramatically reshape the company's future earnings profile and could materially affect the stock price. Shareholders should weigh the low sale consideration (Rs. 107 crores) against IDLEL's high turnover contribution before voting on the postal ballot.