The India Cements Limited has informed the Exchange about Sale or disposal
INDIACEM · price
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Awaiting price reaction for this filing.
India Cements' Board has approved the sale of its entire equity stake in Industrial Chemicals and Monomers Limited (ICML), a non-material, unlisted subsidiary, to Mirai Sensing Private Limited (Chennai-based, not a related party). ICML contributed virtually nothing to the company's financials in FY25 — zero turnover, Rs 0.30 crore in other income (0.00%), and a negative net worth of Rs 12.03 crore. The proposed sale consideration is Rs 97.68 crores, with the agreement yet to be signed and completion expected within six months of the agreement date. Once the deal closes, ICML will cease to be a subsidiary of India Cements.
Minor positive for shareholders — India Cements is cashing out of a loss-making, non-core subsidiary that adds no value to its cement business, freeing up ~Rs 98 crores for core operations or debt reduction. Likely limited stock price impact given ICML's negligible contribution to consolidated financials.