Cera Sanitaryware's board has approved the divestment of its entire stake in two subsidiary Limited Liability Partnerships (LLPs), 'Race Polymer Arts LLP' and 'Packcart Packaging LLP', according to a regulatory filing on September 2, 2025.
The board considered and approved the divestment of its entire stake in Race Polymer Arts LLP, a subsidiary LLP of the company. Additionally, the board principally approved the proposal for the divestment of its entire stake in Packcart Packaging LLP. The company will explore prospective buyers for the sale of CERA's stake in Packcart Packaging LLP, and if no buyer is identified within two months, the LLP would be liquidated. The Executive Director (Technical) and Chief Financial Officer of the Company have been authorized to explore buyers, finalize terms and conditions, and execute necessary agreements.
The agreement for retirement from Race Polymer Arts LLP is expected to be entered into within the next 15 days, with the completion of the sale/disposal expected by September 30, 2025. The consideration for the sale of its stake in Race is expected to be in the range of ₹15-17 crores. The company intends to divest its 51% stake in Race to its joint venture partner, Shreeyam Ceramics LLP, which currently holds a 49% stake in Race. Shreeyam Ceramics LLP does not belong to the promoter/promoter group/group companies of Cera Sanitaryware.
As per the last audited financial statements, the turnover of Race Polymer Arts LLP for the year ended March 31, 2025, was ₹43.67 crores, constituting approximately 2.27% of the consolidated turnover of Cera Sanitaryware. The net worth of Race is ₹27.09 crores, constituting 1.98% of the consolidated net worth of the company.
The meeting commenced at 11:30 a.m. and concluded at 12:15 p.m.
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