Marine Electricals (India) Limited — Important, 01-04-2025: Sale or disposal

Marine Electricals (India) Limited has announced a board meeting to discuss the sale of its entire 50% equity stake in Athmar India Private Limited to Mr. Vinay Uchil, a common director for both entities, for ₹50,000. Following this transaction, AIPL will no longer be an associate company of MEIL as of March 31, 2025. AIPL reported a net worth of ₹1,00,000 and no turnover in the last financial year. This divestment could streamline MEIL’s operations and reduce exposure to a lackluster investment, potentially viewed positively by investors looking for focused growth opportunities.