Gokak Textiles Ltd — Important, 09-09-2025: Company Update

Gokak Textiles plans to sell its Marihal knitwear manufacturing plant due to declining performance. The plant, valued at Rs. 21.49 Cr, has an agreed sale price of Rs. 19.50 Cr to M/s V. G. Parekh & Co., a non-promoter real estate developer. This unit contributed Rs. 5.05 Cr to turnover (5.17% of total revenue) and had a negative net worth of Rs. 41.15 Cr (26.02% of the company's negative net worth) in FY25. The company will seek shareholder approval via postal ballot, with the sale expected to complete by January 2026. This divestment aims to shed an underperforming asset.