Corporate News     04-Dec-23
Time Technoplast signs MoU to sell non-core asset for Rs 26.5 cr
Time Technoplast has signed an MOU for selling the land & building located in Southern India, along with electrical installation & fixed equipments for a total consideration of Rs. 26.5 crore. This transaction is estimated to be completed before the end of current financial year, after compliance with local authorities.

The Company had decided to liquidate all non-core assets by the end of FY 2025, considering the current business plan, and identified certain movable (plant & machinery, moulds, equipment etc.) and immovable (land and building) assets which are currently not in use and not useable in near future. The estimated total realizable value from all these assets put together is around Rs.125 crore (appx).

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