we hereby inform you that as per our intimation dated 17th March, 2026 and 18th March, 2026, we are submitting herewith disclosure under Regulation 30 regarding receipt of consideration from buyers.
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ITL Industries has completed the sale of its entire 52.55% holding (30,480 equity shares) in its non-material subsidiary M.M. Metals Private Limited for a total consideration of Rs. 64.31 lakhs, at Rs. 211 per share. The agreement was executed on 18th March 2026 and consideration was received on 20th March 2026, after which M.M. Metals ceased to be a subsidiary of the company. M.M. Metals contributed only about 2.25% of consolidated income (Rs. 419.91 lakhs) and 2.65% of consolidated net worth (Rs. 212.79 lakhs) as on 31st March 2025, making it a non-material subsidiary. All buyers are related parties (directors and their relatives), and the company has confirmed the transaction was carried out at arm's length.
This is a small, non-material divestment (around 2% of consolidated income/net worth) and is unlikely to have a meaningful impact on ITL Industries' overall business or financials. However, shareholders should note that the buyer group consists of directors and their relatives, which is a related-party transaction.