Paramount Cosmetics has handed over possession of its factory at Shoolagiri to the buyer, marking a key step in the divestment of its land and building assets. The company entered into a Sale Agreement during the quarter and transferred physical control of the property, with the buyer now completing registration formalities. This move finalizes a transaction previously disclosed on February 13, 2026, reflecting the company's strategic asset restructuring. The delay in this specific disclosure stems from an inadvertent oversight, though management reaffirms its commitment to timely compliance with SEBI (LODR) Regulations.

The transaction was authorized by shareholders at the Extraordinary General Meeting (EGM) held on February 13, 2026. At that meeting, investors approved the sale of the land and building comprising the Shoolagiri facility. The company had made initial disclosures regarding the proposed sale and receipt of advance payments on that same date. The current update confirms that the operational phase of the handover is complete, shifting focus to the legal transfer of title.

The company acknowledged a belated filing for this specific event due to an inadvertent oversight. Managing Director Hiitesh Topiwaalla signed the disclosure on August 03, 2026, expressing regret for the delay. Despite the timing issue, the substance of the transaction remains unchanged, with the buyer actively pursuing the registration of the property in its name. This procedural lapse does not affect the validity of the shareholder approvals or the execution of the Sale Agreement.

What the Numbers Show

The completion of the possession handover indicates that the commercial risk associated with the Shoolagiri factory has largely transferred to the buyer. While financial details such as the final sale consideration were not restated in this specific disclosure, the progression from advance receipt to physical handover suggests the deal is nearing closure. The primary remaining obligation lies with the buyer to complete statutory registrations, after which the company can expect to recognize any gain or loss on disposal in its financial statements, subject to accounting standards.

Paramount Cosmetics (India) Ltd has updated its registered email ID with BSE Limited to compliance@parcos.in . The change replaces the previous email address, compliance.officer@parammount.com , across all records maintained by the exchange. This administrative update ensures continued compliance with regulatory communication requirements.

The Board of Directors approved the update on June 18, 2026, at a meeting held at the company's corporate office in Bangalore. The resolution was passed pursuant to the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board authorized the replacement of the existing email ID with the new one in all records maintained with BSE Limited and other regulatory authorities.

Authorization and Implementation

Hiitesh Topiiwaalla, Managing Director, has been authorized to sign, execute, and submit all necessary documents and forms to BSE Limited and other authorities to implement this change. The resolution also mandates providing a certified true copy of the resolution to the exchange for their records.

The request for the update was formally submitted to BSE Limited on June 23, 2026. The company's registered office is located in Vapi, Gujarat, while its corporate office operates out of Bangalore.

Key Details of the Update