The India Cements Limited — Important, 18-03-2025: Sale or disposal

The Board of Directors has approved the sale of several non-core equity investments, leading to Coromandel Travels Limited, Raasi Cement Limited, and others ceasing to be subsidiaries or associates.

Specifically, Coromandel Travels will be sold for Rs. 3.98 lakhs, while Raasi Cement is set for a sale at Rs. 10,000. Coromandel Electric Company is being sold for Rs. 36.27 crores, contributing 2.24% to the company's turnover, and its sale will impact related entities, including Coromandel Sugars, which contributed significantly to the net worth. Unique Receivables Management Private Limited will also be sold for Rs. 2,500, underscoring a strategic shift towards streamlining operations.

These divestitures indicate a robust strategy to enhance capital allocation and focus on core business areas. Watch closely for how these changes might reshape the company’s resource management and financial positioning in the upcoming quarters.