Aro Granite Sells Jaipur Business Unit for ₹67 Crore
Aro Granite approved the sale of its Jaipur business unit for ₹67 Crore. The unit contributed ₹11.96 Crore in turnover and had an asset book value of ₹48.19 Crore. The sale requires shareholder approval via postal ballot. Proceeds will be used for business expansion and debt reduction.
The sale involves a substantial consideration of ₹67 Crore and impacts a significant portion of the company's net worth (27.70%). The strategic rationale and utilization of proceeds suggest a medium-term impact on the company's financial structure and operations, pending shareholder and regulatory approvals.
The sale of a business unit is a significant corporate action. While it aims for strategic optimization and debt reduction, the financial contribution of the unit is not exceptionally high, and the transaction is subject to multiple approvals, making the immediate impact neutral.
Aro Granite Industries Limited has announced the approval of the sale of one of its business units located in Mahindra World City, Jaipur, Rajasthan, through a slump sale on a going concern basis. This decision was made based on the recommendation of the Audit Committee and approved by the Board of Directors during their meeting held on September 07, 2026.
The sale is subject to the approval of shareholders via a special resolution through postal ballot, as well as approvals from other stakeholders including banks and regulatory authorities. The company has appointed M/s S Panigrahi & Associates as the scrutinizer for the postal ballot process.
The business unit contributed ₹11.96 Crore in turnover, representing 16.27% of the company's total annual consolidated turnover of ₹73.51 Crore for the last financial year. The asset book value is ₹48.19 Crore as at March 31, 2026, which is 27.70% of the company's audited net worth of ₹173.94 Crore. The total consideration receivable from the sale is ₹67.00 Crore. The buyer is M/s United Stones Private Limited, an independent third-party entity. The rationale for the sale includes strategic portfolio optimization, operational streamlining, and risk mitigation, with proceeds intended for expanding core business verticals, reducing loan costs, and reinforcing 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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