Airo Lam Ltd has approved the sale of its 40% equity stake in associate company Airolam Asia Pacific Co. Ltd for a cash consideration of ₹36,00,000. The Board of Directors sanctioned the divestment during a meeting held on July 21, 2026. Upon completion of the transaction, Airo Lam's shareholding in the Thailand-based entity will decrease from 49% to 9%, resulting in the cessation of its status as an associate company. The sale is aligned with the company's strategic business and investment objectives.

The disposal involves the transfer of 8,000 equity shares to an unrelated third party. The purchaser does not belong to the promoter or promoter group of Airo Lam Limited, confirming that the transaction is not a related party transaction. Airolam Asia Pacific Co. Ltd is engaged in the trading of laminate products and reported a turnover of 65,26,679.53 Baht as of March 31, 2026.

Completion of the sale is subject to customary closing conditions, the execution of definitive documents, and applicable regulatory compliances. This includes adherence to regulations under the Foreign Exchange Management Act, 1999, where relevant. The company expects the transaction to be finalized on or before July 30, 2026, pending the fulfilment of these conditions precedent.

Financial and Operational Details of Airolam Asia Pacific

The target entity, Airolam Asia Pacific Co. Ltd, was incorporated on September 10, 2020, in Thailand. The company operates outside India and falls within the industry segment of trading laminate products.

The consideration of ₹36,00,000 represents the price for the 40% equity share capital being disposed of. Following the sale, Airo Lam Limited will retain a 9% stake in the entity.

M/s. Piyush J. Shah & Co., Chartered Accountants, resigned as the statutory auditor of airo lam effective June 25, 2026, citing pre-occupation in other assignments as the reason for stepping down. The firm confirmed that it has completed all audit assignments for the year ended March 31, 2026, and clarified there are no disputes with the management or concerns regarding the suppression of information. The resignation is subject to discussion and approval by the Audit Committee and Board of Directors in their forthcoming meetings.

The intimation was submitted to the National Stock Exchange of India Ltd. in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation letter and Annexure-A, as envisaged in SEBI Circular No. CIR/CFD/CMD1/114/2019 dated October 18, 2019, were attached to the filing.

Auditor Details

The auditor was reappointed by the members of the company in the Annual General Meeting held on September 29, 2021, to hold office until the conclusion of the AGM to be held in 2026. The latest audit report for the year ended March 31, 2026, was submitted on May 27, 2026.

Key Information

The firm stated that there were no other material reasons for the resignation beyond those provided. The company will need to appoint a new statutory auditor to fill the vacancy created by this resignation.