Elpro International's Material Subsidiaries Face Auditor Resignation
R. Mehta & Associates, Chartered Accountants, resigned as statutory auditors for two material subsidiaries of Elpro International Limited (BSE: 504000), effective July 30, 2025. The resignation affects Ultra Sigma Private Limited and Elpro Realty Private Limited. The auditors cited pre-occupation with other professional assignments as the reason. They were appointed on September 25, 2024, with an original term expiry in 2029. The company has informed BSE Limited in compliance with SEBI regulations.
29Jul 25
Elpro International Boosts Stake in Arvind Fashions with ₹5 Crore Investment
Elpro International Limited has increased its stake in Arvind Fashions Limited, acquiring an additional 92,364 equity shares for ₹5.00 crores in cash. This brings Elpro's total shareholding to 2,95,216 shares, up from 2,02,852 previously. The purchase is purely for investment purposes and involves no related party transactions. Arvind Fashions, a key player in India's specialty retail sector, reported a total revenue of ₹4,654.48 crores, showing consistent growth over the past three years.
15May 25
Elpro International Reports Mixed Q4 Results with EBITDA Surge and Net Profit Decline
Elpro International Ltd. reported mixed Q4 results. EBITDA increased by 110.95% to ₹316.00 crore, with margin improving to 45.23%. However, revenue declined by 39.74% to ₹699.00 crore, and net profit decreased by 69.21% to ₹74.00 crore. Quarterly data showed significant declines across metrics compared to Q3. Annual performance for FY2024 was more positive, with revenue up 86.98%, EBITDA up 82.10%, and net profit up 78.50% compared to FY2023.
03Apr 25
Elpro International Completes Exit from PNB MetLife India Insurance with ₹134.38 Crore Sale
Elpro International Limited has finalized its divestment from PNB MetLife India Insurance Company, selling its remaining 1,63,87,424 equity shares for ₹134.38 crore on April 2, 2025. This transaction concludes the company's phased exit strategy initiated in late 2021, complying with SEBI regulations.
02Apr 25
Elpro International Completes Sale of Remaining Stake in PNB MetLife India Insurance for ₹134.38 Crore
Elpro International Limited has finalized its exit from PNB MetLife India Insurance Company Limited by selling its remaining 1,63,87,424 equity shares for ₹134.38 crore. This transaction marks the conclusion of a phased divestment process that began in October 2021. The company disclosed this material development in compliance with SEBI regulations, signaling a significant shift in its investment strategy.