GTN Industries Limited’s Board of Directors has approved the sale of its Nagpur Unit as a going concern. The transaction, structured as a slump sale, is valued at approximately ₹4,100 lakhs plus net current assets of about ₹3,000 lakhs. This strategic move is subject to shareholder approval and marks a significant step in the company’s operational restructuring. The proposed date of transfer is September 30, 2026.
Board Approves Strategic Asset Sale
GTN Industries Limited has announced a significant strategic decision following its Board of Directors’ meeting on August 12, 2026. The Board has given its approval for the execution of a Memorandum of Understanding (MOU) to sell its Nagpur Unit. This sale is planned as a slump sale, with the unit being transferred as a going concern.
Financial Details of the Transaction
The proposed consideration for the Nagpur Unit is a lumpsum amount of ₹4,100 lakhs, to be supplemented by the value of net current assets. These net current assets are estimated to be approximately ₹3,000 lakhs. The exact final consideration will be determined based on the actual net current assets as of September 30, 2026, which is the intended date of transfer.
Key Conditions and Next Steps
The transaction is contingent upon obtaining the necessary approval from the shareholders of GTN Industries Limited. Furthermore, the execution of a definitive Business Transfer Agreement and other requisite conditions precedent must be met. This sale represents a key step in the company’s strategic realignment, with potential implications for its future operational structure and financial performance.
Unaudited Financial Results for Q1 FY27
In addition to the asset sale approval, the Board also took on record the Un-Audited Financial Results for the quarter ended June 30, 2026. The company reported a total income of ₹4,448 lakhs for the quarter, with a reported loss after tax of ₹89 lakhs. Expenses for the quarter stood at ₹4,543 lakhs.
Source: BSE
