Harig Crankshafts Plans Noida Undertaking Sale Up to Rs 79 Crore

Harig Crankshafts Limited has approved the proposed sale of its Noida undertaking, including land, buildings and plant and machinery, for consideration not exceeding Rs 79 crore following a technical and economic viability study. The move is central to Harig Crankshafts' transition after its resolution plan and its subsequent change in main business objects to real estate development and civil engineering-related services.

What has Harig Crankshafts approved for its Noida undertaking?

Harig Crankshafts has approved the sale of the undertaking at C-49, Noida Phase-II, Noida, Uttar Pradesh, either as a whole or in parts, for consideration not exceeding Rs 79 crore. The undertaking includes land and buildings over 22,343.10 square metres, along with the plant and machinery located there.

The board considered and approved the proposal at its meeting on June 21, 2024. The proposal followed a technical and economic viability study dated May 13, 2024, conducted by registered valuer Vishal Kanwar. The disclosed material does not state a buyer, a transaction completion date, or the final consideration that may be received.

Members also approved the sale of the undertaking at an extraordinary general meeting held on December 7, 2024. This shareholder approval covered the Noida land and building as well as the plant and machinery at the site, providing a corporate approval step for the proposed transaction.

Why is Harig Crankshafts considering the asset sale?

Harig Crankshafts is considering the sale after the resolution applicant was allowed to assess whether the existing manufacturing assets could be restarted, modernised or disposed of based on their economic usefulness. The resolution plan stated that the new promoter could modernise viable operations or sell obsolete machinery depending on its business strategy.

Palika Towns LLP's resolution plan was approved by the committee of creditors on October 20, 2023. The National Company Law Tribunal, Allahabad Bench, subsequently approved the plan on April 17, 2024. The company has stated that the resolution plan was under implementation.

The May 2024 viability study was therefore an important step in determining the treatment of the older plant and machinery. The disclosed information says the board acted after reviewing that study, but it does not provide the study's valuation conclusions or a separate value for land, buildings and machinery.

How is Harig Crankshafts changing its business direction?

Harig Crankshafts has changed its main objects after the close of financial year 2024-25 to include real estate development and civil engineering-related services. The change marks a shift from its established manufacturing base toward activities associated with property development and construction services.

Historically, Harig Crankshafts manufactured forged and machined automotive crankshafts. The company also entered the forging of valve bodies and flanges of different sizes as part of an earlier diversification effort intended to reduce dependence on the automotive industry.

The planned disposal of the Noida manufacturing undertaking should be viewed alongside this stated change in objects. However, the company has not disclosed a project pipeline, development budget, revenue target, or timetable for its real estate and civil engineering activities in the material provided.

What recent disclosures should Harig Crankshafts investors note?

Harig Crankshafts published newspaper clippings relating to its unaudited standalone financial results for the quarter ended June 30, 2026. No revenue, profit, loss, cash-flow or balance-sheet figures were included in the provided disclosure summary, so the quarter's financial performance cannot be quantified from this information.

The company also disclosed a notice for an offer for sale of 525,000 equity shares of face value Rs 10 each by a promoter. The supplied text identifies the transaction as an offer for sale under the company's BSE scrip code 500178, but it does not provide the promoter's full name, the floor price, offer dates, or the eventual number of shares sold.

On September 29, 2026, Harig Crankshafts held its third annual general meeting, where members adopted the financial statements for FY26 and approved material related-party transactions. The provided summary does not disclose the value or counterparties of those related-party transactions.

How could the proposed sale affect Harig Crankshafts and its investors?

For Harig Crankshafts, the proposed sale concerns a substantial operating site containing manufacturing assets and a large land parcel. The final financial impact will depend on whether a sale is completed, the actual consideration received, transaction costs, carrying values of the assets, and the intended use of any proceeds. None of these details is available in the disclosed summary.

The transaction also has operational relevance because the undertaking includes the company's Noida plant and machinery. A completed sale could alter the company's manufacturing asset base, while its stated business-object change points to a different strategic focus. The available disclosures do not confirm whether manufacturing activity will continue elsewhere or whether a replacement operating facility is planned.

For investors, the Rs 79 crore figure is a ceiling on the stated consideration rather than confirmation of a completed deal or realised cash inflow. Investors would need to assess subsequent exchange filings for a purchaser, definitive agreements, completion status, the final transaction value and management's disclosed plan for the proceeds.

Conclusion

Harig Crankshafts' proposed sale of its 22,343.10-square-metre Noida undertaking is linked to the implementation of the Palika Towns LLP resolution plan and the board's review of a May 2024 viability study. The company has shareholder approval to proceed, with the disclosed maximum consideration set at Rs 79 crore, but a completed transaction has not been confirmed in the information provided.

The next disclosures to watch are any announcement of a buyer, final sale terms, completion of the transaction and the use of proceeds. Investors may also track future financial-result disclosures for evidence of the company's progress after changing its main objects to real estate development and civil engineering-related services.