Konark Synthetic Ltd — Updates, 16-05-2025: Company Update

Konark Synthetic Limited has announced a board meeting to approve the sale of its underutilized property located in Silvassa, which contributed 98% of the company’s total income last year. The sale, expected to complete within a year, aims to generate at least ₹6 Cr. Proceeds will be used mainly to repay debt and reduce finance costs, improving the company’s liquidity and debt-equity ratio. The company may lease back the property or opt for alternative premises to maintain operations. The buyer will be an unrelated third party, and negotiations are ongoing.