The Board of Directors at its meeting held on 24.04.2025 has approved the sale of its wind mill division engaged in wind power generation as going concern on slump sale basis as defined ....
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The Board of Directors of Jayshree Chemicals Ltd approved the sale of its wind mill division (engaged in wind power generation) as a going concern on a slump sale basis to M/s Vaishnav Infra Pvt Ltd for a lump-sum consideration of Rs. 276.00 Lakhs. The wind mill division contributed Rs. 1,619.20 Lakhs (~96% of turnover) and Rs. 274.06 Lakhs (~27% of net worth) in FY25. The deal is subject to shareholder approval at the AGM, with expected completion by June 2025. Proceeds will be used for working capital, expansion of the chemical trading business, and general corporate purposes. Additionally, the Board approved the permanent closure of the Electric Business Division by end of April 2025. The Board also declared audited FY25 results (showing net loss) with an unmodified auditor's opinion, appointed Smt. Puja Guin as Company Secretary & Compliance Officer, and M/s Jaiswal A & Co as Secretarial Auditor for a 5-year term (FY2025-26 to FY2029-30).
The sale of the wind mill division — which accounts for nearly all of the company's revenue — is a major restructuring move that effectively shifts the company toward its chemical trading business. Shareholders should note this is a significant business change requiring their approval at the AGM on 10 June 2025, and the stock may react to the sharper focus on the smaller chemical trading segment.