Gokak Textiles Ltd — Important, 07-05-2026: Company Update

Gokak Textiles is selling its knitwear manufacturing plant in Belagavi, an underperforming asset with a valuation of Rs. 21.49 Cr, for an agreed price of Rs. 19.50 Cr to M/s V. G. Parekh & Co. This unit contributed only Rs. 5.05 Cr to turnover and had a negative net worth of Rs. (41.15) Cr in FY 2024-25. The sale, initially expected by January 2026, has been postponed twice, first by three months, and then by an additional three months, due to process delays. This divestment aims to streamline operations by offloading a non-core business.