Usha Martin has announced the voluntary dissolution of its step-down wholly-owned subsidiary, Usha Martin Espana S.L., based in Spain. The dissolution, effective as of December 23, 2025, will not impact the company’s operations or financial position, as the Spanish market will continue to be served through other European subsidiaries.
Subsidiary Closure Announcement
Usha Martin Limited has officially announced the closure of its step-down wholly-owned subsidiary, Usha Martin Espana S.L., located in Spain. The decision for voluntary dissolution was finalized as of December 23, 2025.
Impact Assessment
The company clarifies that the closure of this subsidiary will not have any material impact on Usha Martin’s ongoing operations or its overall financial standing. The company will continue serving the Spanish market through its other European subsidiaries.
Key Dates
The order of dissolution, dated December 19, 2025, was formally received by Usha Martin via email on December 23, 2025, at 16:42 p.m. (IST).
Financial Details of Usha Martin Espana S.L.
The following details pertain to the last financial year:
- Turnover/Revenue: Nil
- Loss: EUR 5968
- Networth: (Negative) EUR 2957
Source: BSE