Update on Incorporation of Wholly Owned Subsidiary.
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Rajkamal Synthetics Ltd has incorporated a wholly owned subsidiary named 'RKR Mines and Minerals Private Limited', with the Ministry of Corporate Affairs approving the incorporation on May 9, 2025. The new subsidiary has an authorized capital of Rs. 2 crore, divided into 20 lakh equity shares of Rs. 10 each, fully subscribed by the parent company at face value. The subsidiary will focus on mining and quarrying of stones, granites, marble, and real estate development activities. This move is intended to diversify and expand the company's business beyond its existing textile operations.
This is a diversification step into mining and real estate, which is outside Rajkamal's core textile business. Shareholders may see this as a long-term growth opportunity, but execution risk is notable given the new industry segment and limited disclosed financial details so far.