The company has further reduced its equity stake in Morbido Merchandise Private Limited, a material subsidiary, lowering its holding below the threshold that defines subsidiary status.

Consequently, Morbido Merchandise Private Limited has ceased to be a subsidiary.

This unit contributed 61.1% to the company’s turnover and 4.33% to net worth in the last financial year.

The transaction involves a nominal consideration of Rs. 20,820 and the buyer is the company’s promoter, Manoj Kumar Dugar.

The sale is expected to complete by the end of December 2025. This change will impact the company’s consolidation and operational focus.