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Polychem Ltd's material subsidiary Gujarat Poly Electronics Limited (GPEL) has entered into a deed of assignment to sell its leasehold land (12,022.40 sq metres at Gandhinagar Electronic Estate) and the factory building on it to Tirex Transmission Private Limited for Rs. 29 crore. GPEL had contributed 100% of the subsidiary turnover (Rs. 1,779.24 lakhs) in the last financial year. The company says GPEL has already arranged to shift its operations to a new location, so turnover will not be adversely affected. The buyer is unrelated to promoters/group companies and the transaction is at arm's length. Shareholders of both Polychem and GPEL approved the deal on September 1, 2025, and the sale is being done outside any scheme of arrangement. The deal is pending final transfer orders from GIDC.
This is a one-time monetisation of an old property for Rs. 29 crore in cash. Since manufacturing operations are being relocated and not shut down, the sale should boost liquidity without hurting ongoing business, and the stock reaction will depend on whether the new facility is more cost-efficient than the old one.