Oricon Enterprises Limited has informed the Exchange regarding sale of Assets of its unit for Manufacturing Aluminium Collapsible Tube.
ORICONENT · price
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Awaiting price reaction for this filing.
Oricon Enterprises has entered into an Asset Purchase Agreement on January 1, 2026, to sell its Aluminium Collapsible Tubes manufacturing unit located at MIDC Murbad, Thane, Maharashtra. The unit contributed Rs. 17.79 Crores (3.34%) to the company's turnover and had a net worth of Rs. 25.11 Crores (3.11%) as of March 31, 2025. The buyer is Precise Multitube Packaging, based in Nashik, and the total sale consideration is Rs. 2.38 Crores. The transaction is not a related-party deal and is expected to be completed immediately with consideration already being received. The sale price is significantly below the unit's net worth, indicating a book-value loss on the transaction.
While the unit's contribution to revenue and net worth is small (around 3%), shareholders should note that the sale price of Rs. 2.38 Crores is far below the unit's net worth of Rs. 25.11 Crores, signalling a steep discount to book value. The move suggests Oricon is exiting the aluminium collapsible tubes business, and proceeds may be redirected toward reducing debt or funding other operations.