Sale of Entire stake held in Shree Vinayak Organics (India) Private Limited by Waterproof Corporation Private Limited, a Joint Venture of the Company under Regulation 30 read with Schedule ....
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Ladderup Finance's joint venture, Waterproof Corporation Pvt Ltd, has signed an agreement on 23rd September 2025 to sell its entire stake in Shree Vinayak Organics (India) Pvt Ltd (SVO) for a total consideration of Rs. 5.5 crore. The buyers are Mr. Chetan Manoj Singrodia (a director of the selling JV) and Mrs. Santosh Manoj Singrodia (who belongs to Ladderup's promoter group). SVO had FY25 revenue of Rs. 554 lakhs and a net worth of Rs. 185 lakhs, but importantly, SVO does not contribute to Ladderup's consolidated revenue under IND AS accounting. The transaction is expected to complete by 30th October 2025, after which SVO will cease to be a wholly owned subsidiary of the JV.
This is a relatively small divestment at the JV level and does not affect Ladderup's consolidated financials since SVO's revenue is not consolidated. Shareholders should note minimal direct financial impact, though the promoter group connection of one buyer warrants attention for governance purposes.