Business Update14 Mar 2024, 11:53 pm
TIME TECHNOPLAST LTD.: Rs.21.51 Crores Sold from Land, Building, and Electrical Installation; Rs.11.75 Crores from Machinery, Moulds, and Equipments
AI Summary
TIME TECHNOPLAST LTD. has announced the sale of its land, building, and electrical installation for a total consideration of Rs.21.51 Crores. Additionally, the company has sold its machinery, moulds, and equipments worth Rs.11.75 Crores. The sales are part of an estimated Rs.125 Crores worth of non-core assets to be liquidated by 2025. So far, the company has sold or agreed to sell assets totaling to approximately Rs.60 Crores. The proceeds will be used to reduce debt and expand existing operations.
Key Highlights
- Rs.21.51 Crores from the sale of land, building, and electrical installation
- Rs.11.75 Crores from the sale of machinery, moulds, and equipments
- Non-core assets estimated to total Rs.125 Crores and already Rs.60 Crores sold or agreed to sell
- Proceeds to be used for debt reduction and expansion of existing operations