Allcargo Gati Limited — Important, 23-12-2024: Disclosure of material issue

The Board of Directors of Allcargo Gati Limited has approved the sale of its Fuel Station in Belagavi, Karnataka. The transaction is projected to generate consideration of INR 3 crore. For the financial year ending March 31, 2024, the fuel station contributed 16% to the company’s turnover, amounting to INR 35.83 crore, and 0.18% to net worth with INR 1.35 crore. The sale agreement is expected to be executed by January 2025, with completion anticipated in the same month. The buyers, Mr. Ankit Kumar Agrawal and Ms. Akanksha Rastogi, do not belong to the promoter group, and the transaction is not classified as a related party deal. This divestment aligns with a strategic focus on optimizing asset portfolios, potentially offering a positive outlook for future investments.