Company has entered into an agreement for sale with M/s Arbuda Metal Industry for the sale of used windmill/scrap from the Wind Power Division situated at Dhank, Rajkot.
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Prashant India Ltd has entered into a sale agreement on 24 July 2025 with M/s Arbuda Metal Industry to sell used windmill and scrap from its Wind Power Division located at Dhank, Rajkot. The total sale consideration is ₹85 Lakhs plus applicable tax, with ₹50 Lakhs already received as advance and the balance due by 15 August 2025. The Wind Power Division accounted for 100% of the company's turnover (₹11.44 Lakhs) in the last financial year, with an attributable net worth of ₹92.67 Lakhs. The transaction is expected to be completed within 30 days and is not a related party transaction. The buyer is an unrelated third-party proprietorship firm based in Gujarat.
This is a significant divestiture — the company is selling off assets tied to its main revenue-generating division (100% of turnover). The sale proceeds will bring in ₹85 Lakhs in cash, but the slight discount to the division's ₹92.67 Lakhs net worth and the loss of the core revenue stream means shareholders should look for clarity on the company's future business direction.