WPIL Ltd. Announces Sale of Australian Subsidiary Sterling Pumps Pty Limited
WPIL Ltd. announced March 24, 2026, that its Board of Directors has approved the sale of the company’s entire shareholding in its Australian subsidiary, Sterling Pumps Pty Limited (SPPL). The agreement was finalized on March 24, 2026, with completion expected by March 31, 2026.The buyer is Aturia International Pte. Ltd., a Singapore-based subsidiary and Special Purpose Vehicle (SPV) of WPIL Ltd. Following the sale, SPPL will remain a step-down subsidiary of WPIL Ltd. The transaction qualifies as a related-party transaction and is occurring on an arm's length basis.
The consideration for the sale of 100% of WPIL’s shareholding in SPPL is AUD 2.34 million, representing approximately 44% of SPPL's shareholding.
Financial Contribution of Sterling Pumps Pty Limited
According to data from the year ended March 31, 2025, SPPL contributed a consolidated turnover of Rs. 116.20 crore, representing 6.43% of WPIL’s consolidated turnover. Its consolidated net worth as of March 31, 2025, was Rs. 24.63 crore, accounting for 1.80% of WPIL's consolidated net worth.
Transaction Details Summary
The transaction details are summarized in the table below:
| PARTICULARS | DETAILS |
|---|---|
| Amount and % of Turnover or Revenue or Income and Net Worth contributed by such Subsidiary during last Financial Year | Consolidated Turnover of Sterling Pumps Pty Limited (SPPL) for the Year ended March 31, 2025 was Rs. 116.20 Crs. i.e. 6.43% of Consolidated Turnover of the Company. Its Consolidated Net worth as of March 31, 2025 was Rs. 24.63 Crs. i.e. 1.80% of Company's Consolidated Net worth. |
| Date on which the agreement for sale has been entered to | March 24, 2026 |
| Expected date of Completion of Sale | By the end of March 31, 2026 |
| Consideration received from such Sale | AUD 2.34 Mn for Sale of 100% Company's Shareholding in SPPL |
| Brief Details of Buyer and whether any of the Buyers belong to Promoter/ Promoter Group/ Group Companies | Aturia International Pte. Ltd. The Buyer being Company's Subsidiary, is a Group Company. |
| Whether the transaction would fall within related party transaction. If yes, whether same is at 'arm's length' | Yes, the transaction will fall within the ambit of Related Party Transaction and the same is at arm's length basis. |
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