USHAMART: Usha Martin Limited has informed the Exchange that in furtherance to our earlier communications dated 5th August 2023 and 3rd November 2023, we would now like to inform you that the Company has entered into an agreement with UGP Engineering Private Limited ("Buyer") on 21st August 2025 for transfer/sale of leasehold land admeasuring approximately 10.11 acres, along with structure(s), plant & machinery, etc. situated at Sriperumbudur, Tamil Nadu ("Sale").
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Usha Martin has signed an agreement with UGP Engineering Private Limited to sell approximately 10.11 acres of leasehold land along with buildings, plant and machinery at its Sriperumbudur (Tamil Nadu) facility. The total consideration is Rs. 29.52 crores, with the deal signed and expected to complete on 21st August 2025. The company has clarified these are non-core assets and the buyer is unrelated to the promoter group or group companies. The transaction follows earlier communications from August 2023 and November 2023 regarding these assets.
This is a monetisation of non-core real estate and machinery, bringing in Rs. 29.52 crores in cash. Since the assets are explicitly classified as non-core and unrelated to main operations, the impact on the company's earnings or stock price is likely to be limited, though it strengthens the balance sheet marginally.