Pursuant to the provisions of the Listing Regulations and in continuation of our letter dated April 10, 2024 regarding investment in Shri Vinayak Ply Industries Private Limited ( SVPL ) by Kajaria Plywood Private Limited ( KPPL ), a wholly-owned subsidiary of the Company, we wish to inform you that the Board of Directors of KPPL have decided to discontinue further investment in SVPL.
KAJARIACER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kajaria Ceramics' wholly-owned subsidiary, Kajaria Plywood Private Limited (KPPL), has decided to stop any further investment in Shri Vinayak Ply Industries Private Limited (SVPL). This is a follow-up to an earlier communication dated April 10, 2024, which had announced KPPL's plan to invest in SVPL. The decision was taken by the Board of Directors of KPPL. No fresh capital will be deployed into SVPL going forward as part of this arrangement. The filing is being made under SEBI Listing Regulations to keep the stock exchanges informed. The reason for discontinuation has not been disclosed in this update.
Neutral to mildly positive — Kajaria Ceramics preserves cash by not pursuing an investment that may not have met its return expectations, though it signals a setback in the plywood business expansion plan through this route.