Information pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 - The Board of Directors of the Company in their Meeting held today i.e. 29th July, 2025 has inter alia approved ....
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The board of Polychem Ltd has approved the sale/assignment of leasehold land and factory building at Gandhinagar (measuring 12,022.40 sq. metres) by its material subsidiary Gujarat Poly Electronics Limited (GPEL) to Tirex Transmission Private Limited for Rs. 29 crore. Notably, GPEL contributes 100% of Polychem's turnover (Rs. 1,779.24 lakhs in the last financial year), but the company states GPEL has arranged to shift operations to a new location so turnover will not be affected. The transaction is not a related party deal and is being done at arm's length. An Extra-ordinary General Meeting has been called for September 1, 2025 to seek shareholder approval under Regulation 24(6). The board also noted a fine levied by BSE for non-compliance with NRC Committee composition norms for the March 2025 quarter and stated the company has filed a waiver application, claiming it was actually compliant.
Since GPEL accounts for 100% of Polychem's turnover, this is a significant asset monetization event — shareholders should watch the September 1 EGM outcome and the eventual completion of the sale, as the Rs. 29 crore inflow and operational relocation will shape the company's future revenue base. The BSE fine and NRC composition issue is a minor governance/compliance flag but the company is contesting it via a waiver request.