GOCL Corporation Limited — Others, 12-05-2025: Shareholders meeting

GOCL Corporation Limited has announced a board meeting to seek approval for the sale of its wholly owned subsidiary, IDL Explosives Limited, to Apollo Defence Industries for Rs. 107 crores. Facing margin pressures, raw material volatility, and tough competition, IDL has recorded losses over the past three years, leading GOCL to halt its energetics operations. Post-sale, IDL will repay intercorporate loans of around Rs. 93 crores to GOCL. This divestment is intended to strengthen GOCL’s focus and enhance value for shareholders.