The Board of Directors of the company at its meeting held today i.e February 10,2026 had decided to sell the entire machinery of the textile unit at floor price aggregating to Rs. 15 crores, ....
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Hindoostan Mills' Board on February 10, 2026 approved the sale of the entire machinery of its textile unit located at Karad, Satara District, Maharashtra, at an aggregate floor price of Rs. 15 crores. The machinery's net block value is Rs. 5.65 crores, meaning the sale price represents roughly 2.65x the book value. The textile unit contributed Rs. 17.13 crores (52.60%) of the company's total turnover of Rs. 32.57 crores in FY25, and accounted for 60.34% of net worth. The sale is subject to shareholder approval, with negotiations expected to begin afterward and completion targeted by March 31, 2028.
This is a significant move since the textile unit is the company's core revenue generator (over half of turnover). If completed, the company would lose its primary income stream and effectively pivot away from textiles, though the Rs. 15 crore floor price (well above the Rs. 5.65 crore net block) suggests a decent realisation for shareholders. Shareholders should expect a special dividend or strategic re-deployment of proceeds once the sale concludes.