Aro Granite Industries Approves Slump Sale of Jaipur Business Unit for ₹67 Crore
Aro Granite Industries approved the slump sale of its Jaipur business unit for ₹67 Crore to M/s United Stones Private Limited. The unit contributed ₹11.96 Crore in turnover and has a book value of ₹48.19 Crore. Proceeds will fund core business expansion and debt reduction.
The sale involves a substantial portion of the company's net worth and turnover, indicating a medium-term impact on its financial structure and operations. Shareholder approval is still pending.
The sale of a business unit for a significant amount and the utilization of proceeds for expanding high-margin core business verticals and reducing debt are positive developments for the company.
Aro Granite Industries Limited announced the outcome of its Board Meeting held on September 07, 2026, where it approved the sale of one of its business units located in Mahindra World City, Jaipur, Rajasthan. The disposal will be conducted via a Slump Sale on a going concern basis. This transaction is subject to shareholder approval through a Special Resolution via Postal Ballot, as well as approvals from other stakeholders, including banks and regulatory authorities. The Board also approved the Draft Notice of Postal Ballot and appointed M/s S Panigrahi & Associates as the Scrutinizer for the e-voting process.
The business unit contributed ₹11.96 Crore in turnover, representing 16.27% of the company's total consolidated turnover of ₹73.51 Crore for the last financial year. The asset book value stands at ₹48.19 Crore, which is 27.70% of the company's audited net worth of ₹173.94 Crore as of March 31, 2026. The total consideration for the sale is ₹67 Crore, to be received from M/s United Stones Private Limited, a third-party commercial entity not belonging to the promoter group. The rationale for the sale includes strategic portfolio optimization, streamlining operations, and mitigating segment risks. The proceeds will be utilized for expanding high-margin core business verticals, reducing loan costs, and bolstering general working capital.
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Aro Granite Industries Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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