1. Financial Results
The unaudited Financial Results (Standalone and Consolidated) ('Results') for the quarter and nine months ended on 31.12.2022 together with the Limited Review Report (LRR) of the Statutory Auditors thereon, pursuant to Regulation 33 of the Listing Regulations is attached herewith.
2. Update on Divestment of 2 MTPA Jaypee Nigrie Cement Grinding Unit (CGU)
This is further to our intimation dated 13.12.2022, regarding entering into framework agreement dated 12.12.2022, for divestment of CGU (Non core asset) with Dalmia Cement (Bharat) Limited (DCBL), the Board, on the recommendations of Audit Committee and as per mutual understanding between the Company and DCBL, have decided to enter into a Tolling / Lease agreement (on mutually agreed terms) for a period of upto Seven (7) years for the time being, instead of transfer by sale and M/s DCBL shall have right to purchase the CGU from JPVL on or before the 7th year at an Enterprise Value of Rs. 250.00 Crore.