Board approves closure and sale of knitwear unit

Core Business DivestedStrategic Transactions View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+2.5%Reaction day

₹59.50

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Nifty Microcap 250market · in no size index; the smallest one is used+0.4%+2.1% vs market

Other Textile Products peers, median of 187sector-0.4%+2.9% vs sector

On the reaction day the stock moved 2.1 pts more than Nifty Microcap 250 and 2.9 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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+2.5+0.4+2.1-0.4+2.9

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+14.3-0.9+15.2-3.9+18.2

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UpDownMarket · Nifty Microcap 250Sector · Other Textile Products peers, median of 187Pending

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AI summary

Gokak Textiles Board approved permanent closure and sale of its knitwear unit at Marihal, Belagavi (15.65 acres, set up 1995). Sale agreement with V.G. Parekh & Co. was signed Sept 2025 for Rs. 19.50 Cr. Expected completion: Oct 2026. Knitwear was 9.76% of FY26 revenue but had negative net worth of Rs. (4,192.55)L. Deal was delayed twice from original Jan 2026 timeline.

Likely market impact

Divests loss-making knitwear division. Rs. 19.50 Cr inflow may help reduce overall negative net worth of the company.