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Diamines and Chemicals board approves to sell wind power projects; Stock trades flat

The Turnover of Business undertaking for the year ended March 31, 2021 was Rs59.61 Lakhs.

December 29, 2021 9:46 IST | India Infoline News Service
Stock Market Trader, Stock Trader, Trading
Diamines & Chemicals Ltd has informed that the Board of Directors has approves the consideration and approval of sale of assets/undertaking i.e 2 wind power projects/windmills, K 495 & K 436 (1250 KW each) situated at Gut No. 97 Village Bhone, Taluka Nandurbar, District Nandurbar, Maharashtra and Gut No. 46/p of Village chakala, Taluka Nandurbar, District Nandurbar, Maharashtra respectively, on slump sale basis to Siva Electric Generation Private Limited (SEGPL) w.e.f. January 01,2021.

The Turnover of Business undertaking for the year ended March 31, 2021 was Rs59.61 Lakhs representing 0.95% of total turnover of the Company on a standalone basis.

The Net worth of the Business undertaking proposed to be transferred for the year ended March 31.,2021 was at Rs316.61 lakhs representing 3.72% of the net worth of the Company on a standalone basis after considering impairment provision of Rs118.70 Lakhs on Power Generation segment.

Accordingly, Transfer of Business Undertaking will be done for a lumpsum consideration of Rs220 Lakhs.

At around 9:47 AM, Diamines & Chemicals was trading flat at Rs254.90 apiece on Sensex.

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