Laxmipati Engineering Works Limited has submitted intimation for the sale of leasehold land of the company.
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Laxmipati Engineering Works has sold its leasehold land located at Plot No. D-2/3, GIDC Industrial Estate Dahej-II, Bharuch, for a total consideration of Rs. 45.6 crore (excluding GST). The buyer is Technip Energies India Limited, which is not related to the promoters or promoter group. The property was non-operational and did not contribute any turnover or revenue to the company in the last financial year. The sale received shareholder approval via postal ballot on February 12, 2025, and the transaction was completed on January 2, 2026.
The Rs. 45.6 crore inflow from a non-revenue-generating asset strengthens the company's cash position without affecting its core operations. Since the land contributed nothing to income, there is no negative impact on earnings, and shareholders may view this as efficient monetisation of an idle asset.