Windsor Machines Limited — Important, 10-01-2025: Agreements

Windsor Machines Limited has entered into a Share Purchase Agreement to divest its stake in Rcube Energy Storage Systems Private Limited. The subsidiary did not contribute to turnover in the last financial year, with its net worth declining from INR 19.70 crore to INR 0.47 crore due to provisions relating to a project stalled for over three years. The expected completion date for this share transfer, representing 44.70% of the subsidiary's shares, is within one week. The consideration for this sale is INR 40 lakh. The buyer, Mr. Shailesh Fatechand Ranka, does not have any prior relationships with the company or its promoters, ensuring no related party transaction issues arise. This divestment signifies a strategic move to streamline operations and focus resources on viable projects, marking a key step in the company’s restructuring efforts. Investors should monitor future implications on overall financial health and market positioning.