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Kisan Mouldings liquidates idle immovable asset worth Rs 14 cr

Capital Market 

As part of its asset monetization strategy

has liquidated idle immovable asset worth approx Rs.14 crore.

The Company has concluded deals in its II phase of its Asset Monetization Strategy

] For sale of its Roha (Maharashtra) Premises ] Rs. 3.5 crore
] For sale of its Raipur (Chattisgarh) Premises ] Rs. 4 crore
] For sale of a portion of Idle Land near its Tarapur Plant ] Rs. 6.52 crore.

] All the above deals would fetch Company with overall liquidity of Rs 14 crore with a book profit of Rs. 5.81 crore.

In addition, idle assets of nearly Rs. 15 crore have also been identified for monetization, without impacting our current manufacturing capacities. The Company is confident to get the same also liquidated soon.

It is pertinent to note that the Company had liquidated commercial premises at Andheri East (Mah.) for Rs 3.01 crore in I phase as a part of its Asset Monetization Strategy, thereby, initiated debt reduction policies.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 09 2017. 10:27 IST