Voltas Limited — Important, 13-03-2025: Sale or disposal

The Board has approved the transfer of its overseas branches in Dubai and Abu Dhabi to Universal MEP Contracting L.L.C. (UMCL), a wholly owned subsidiary of Universal MEP Projects Pte Limited, Singapore. This transfer involves ongoing projects and those under defects liability, packaged as a going concern under Business Transfer Agreements (BTAs). The Dubai and Abu Dhabi branches generated a combined revenue of ₹270.39 crore for the financial year 2023-24, representing about 3.11% of Voltas' overall revenue. The total consideration for the transfer is anticipated to be between ₹45 crore and ₹70 crore, contingent on final asset valuations. The relocation aims to consolidate international operations under UMPL, maintaining Voltas' consolidated economic interest. The BTAs are expected to be executed by June 30, 2025, with completion targeted by September 30, 2025. This strategic move positions Voltas for streamlined international operations, warranting a positive outlook for stakeholders.