Orient Ceratech Approves Sale of Windmills Power Division
Orient Ceratech Limited, formerly known as Orient Abrasives Limited and part of the Ashapura Group, has approved the sale of its Windmills Power Division. Following the completion of this transaction, the Power Division will no longer be part of the company's operations, meaning no further segment reporting related to this division will be presented by the company.The sale involves the disposal of the Power Division, and management indicated that the transaction falls outside the existing Scheme of Arrangement. The buyer for the division has been identified as Greenwin Energy Thirteen LLP, which is based in Mumbai. The deal does not involve any participants from the promoter group or associated companies.
Deal and Financial Details
The sale generates a consideration amount of Rs 15,25,00,000 (Rupees Fifteen Crore Twenty Five Lacs).Financial performance details pertaining to the Windmills division for the last financial year (31-03-2026) are summarized below:
| Metric | Value |
|---|---|
| Division Turnover | 627.21 Lacs |
| Percentage of Total Turnover | 1.55% |
| Net Worth | 2195.96 Lacs |
| Percentage of Total Net worth | 7.45% |
The division has been assessed as a component contributing to the company's overall operations, though it will be divested upon the sale's completion.
Timeline and Execution
Regarding the transaction timeline, the agreement for the sale is expected to be executed within the next 30 days. Following the signing of this agreement, the transfer process is anticipated to take approximately six months to complete.The Windmills Power Division, which is being sold, is accounted for in the company’s reporting as part of its operations but will cease functioning as a segment once the disposal is finalized.
ORIENTCER Stock Price Movement
ORIENT CERATECH LIMITED shares rallied today, closing at ₹40.09 after surging 5.50%. The stock traded within a session range of ₹38.33 and ₹41.35, with 155,076 shares recorded in the volume.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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