Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015.
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The Board of Directors of Prashant India Ltd, at its meeting held on 16 February 2026, approved the disposal of all Plant and Machinery, equipment, scraps, residuals and other items belonging to the company's erstwhile Textile Division located at Palsana, to be sold as scrap. The disposal terms and conditions will be decided by Mr. Prabhudas Mohanbhai Gondalia, Managing Director. The Board approval is backed by a shareholder resolution passed at the AGM on 27 September 2023 under Section 180(1)(a) of the Companies Act, 2013. The Textile Division had already been shut down (erstwhile), and this move effectively liquidates remaining physical assets from that business vertical.
This is a cleanup/liquidative action rather than a strategic shift — the Textile Division was already non-operational. Shareholders may see minor cash inflow from scrap sale, but it is unlikely to materially impact stock price or business outlook.