The deal, executed as a slump sale on 26 March 2025, involves an upfront payment of Rs 113 crore by 29 March, with the remaining Rs 50 crore due by 15 April, subject to final adjustments, it added.
The company stated that the decision to divest the die-casting business is to “streamline operations, focus on core business areas, and enhance shareholder value.”
The transaction remains subject to the fulfillment of conditions precedent agreed upon by both parties and is expected to be completed by 31 March 2025.
Sandhar Ascast, formerly known as Sandhar Tooling, is a wholly owned subsidiary of Sandhar Technologies, specializing in manufacturing automotive components for original equipment manufacturers (OEMs) in India and overseas. In the 2023-24 financial year, Sandhar reported a turnover of Rs 17.38 crore and a net worth of Rs 22.63 crore.
Sundaram Clayton (SCL) is a leading manufacturer of engineered aluminum die-cast components for the automotive sector.
The company reported a consolidated net loss of Rs 44.15 crore in Q3 FY25, compared with a net loss of Rs 62.90 in Q3 FY24. Revenue from operations declined 3.9% year on year to Rs 529.35 in Q3 FY25.