In a bid to liquidate idle immovable asset, Kisan Mouldings has concluded deals in its II phase of its Asset Monetization Strategy for sale of its Roha (Maharashtra) Premises for Rs 350 lakh; Raipur (Chattisgarh) Premises for Rs 400 lakh; and for sale of a portion of Idle Land near its Tarapur Plant for Rs 652 lakh. All these deals would fetch the company with overall liquidity of Rs 1400 lakh with a book profit of Rs 581 lakh.
In addition, idle assets of nearly Rs 1500 lakh have also been identified for monetization, without impacting the company’s current manufacturing capacities. The company is confident to get the same also liquidated soon.
The above deals have reduced the company’s debt and resultant financial burden over the Company’s finances. The management is very keen and hopeful to complete the III phase of asset monetization. The company management has also decided to follow the strategy to remain “asset light” and accordingly would not over burden the company with additional financial cost.
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