Disclosure in respect of completion of sale of entire shares of Associate Company SPMM Health Care Services Private Limited held by the Company through Physical Share Transfer(s) on 26.02.2026 ....
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Kandagiri Spinning Mills has completed the sale of its entire 20,00,000 equity shares in associate company SPMM Health Care Services Private Limited on February 26, 2026, through physical share transfer. The total sale consideration was Rs 2.29 crore, priced at Rs 11.44 per share based on a valuation report. The shares were bought by three unrelated individuals from Salem — Mr. S. Devarajan, Mr. S. Jegarajan, and Mr. S. Dinakaran — none of whom belong to the promoter group, and the transaction is not a related-party deal. SPMM had contributed Rs 8.63 lakhs in profit and had an attributable net worth of Rs 216.44 lakhs in the last financial year. With this sale, SPMM has ceased to be an associate company of Kandagiri Spinning Mills effective February 26, 2026.
This is a small, non-core divestment that frees up modest capital (Rs 2.29 crore) with minimal impact on the company's financials or operations. Shareholders are unlikely to see any material change in the stock's fundamentals, as the healthcare associate was a peripheral holding relative to the core spinning business.