Sale24 Sept 2026, 09:55 pm
Usha Martin Sells Optical Fibre Unit for ₹77 Cr
AI Summary
Usha Martin Ltd announced the slump sale of its wholly-owned subsidiary, U M Cables Limited (UMCL), to R R Kabel Limited for ₹77 crore. UMCL, engaged in optical fibre and related cables, contributed ₹78.19 crore in revenue and ₹35.32 crore in net worth in FY26. This divestment aligns with Usha Martin's strategy to streamline its portfolio and focus on its core wire and wire ropes business, enabling better capital allocation for long-term growth. The transaction is subject to UMCL shareholder approval and other conditions precedent.
Key Highlights
- Usha Martin to sell its subsidiary U M Cables Ltd for ₹77 crore.
- The sale involves the entire business undertaking of UMCL.
- UMCL's FY26 revenue was ₹78.19 crore, net worth ₹35.32 crore.
- Transaction aims to streamline portfolio and focus on core business.
- Deal is subject to shareholder approval and other conditions.
Price Impact
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