Somany Ceramics Limited — Important, 15-01-2025: General Updates

The Board of Directors of Somany Ceramics Limited has decided to divest its entire 51% equity stake in Amora Tiles Private Limited, marking the cessation of ATPL as a subsidiary. For the last financial year, ATPL contributed ₹90.60 crore, which accounted for 3.50% of the company’s consolidated turnover, and its net worth was ₹9.77 crore, representing 1.36% of consolidated net worth. The transaction is expected to be completed by March 31, 2025, with a consideration of ₹9.28 crore. Buyers will include existing ATPL shareholders and their nominees. This divestment might streamline Somany Ceramics' operational focus, suggesting a positive outlook for strategic reallocations of capital. Investors should monitor the completion of this transaction closely, as it may influence future revenue streams.