Sale12 Feb 2026, 05:22 pm
Pioneer Embroideries Ltd. Approves Sale of Sarigam Embroidery Unit for Rs. 3.78 Crores
AI Summary
Pioneer Embroideries Ltd. announced the outcome of its board meeting held on 12-02-2025. The board approved the sale of the Sarigam Embroidery Unit for a consideration of Rs. 3.78 crores. The unit had generated sales of about Rs. 5 crores in FY2025 and its closure is not expected to materially impact the overall business of the company. The proceeds from the sale will be used to reduce the company's term liabilities. The board also approved the unaudited standalone and consolidated financial results for the quarter ended 31-12-2025.
Key Highlights
- Pioneer Embroideries Ltd. approved the sale of Sarigam Embroidery Unit for Rs. 3.78 crores.
- The unit had generated sales of about Rs. 5 crores in FY2025.
- The proceeds from the sale will be used to reduce the company's term liabilities.
- The board approved the unaudited standalone and consolidated financial results for the quarter ended 31-12-2025.
- The closure of the unit is not expected to materially impact the overall business of the company.