Elgi Rubber Company Limited — Updates, 13-02-2025: Other Restructuring

Elgi Rubber Company Limited's Board has approved the reversal of interest receivable from its wholly-owned subsidiaries, totaling ₹65.53 crore, for the quarter ending December 31, 2024. Significant amounts include ₹42.07 crore from Borrachas e Equipamentos Elgi Ltda (Brazil), ₹15.94 crore from Elgi Rubber Company Holdings B.V. (Netherlands), and ₹7.52 crore from Elgi Rubber Company LLC (USA). This move, advised by the Audit Committee, aims to alleviate the subsidiaries' financial burden and improve their positions up to September 30, 2026.

The company also approved its unaudited financial results, reporting a consolidated loss of ₹0.28 crore for the quarter with total revenue from operations at ₹89.88 crore. This results in a profit outlook after addressing interest income uncertainty, which could provide a balanced benefit to investors in terms of operational stability and financial clarity.