Alok Industries has completed the sale of its entire stake in Czech textile manufacturer Mileta a.s. for EUR 558,825, equivalent to approximately Rs 5.6 crore. The company informed the stock exchanges on 9 October 2026 that Alok Industries International Limited, its step-down wholly owned subsidiary, had completed the transaction.
The sale follows a share purchase agreement signed on 16 December 2025 between Alok Industries International Limited and CRESCON a.s., a company incorporated in the Czech Republic. Under the agreement, the subsidiary agreed to transfer its entire equity stake in Mileta to CRESCON. The December filing stated that the transaction was subject to customary closing conditions and that Mileta would cease to be a subsidiary of Alok Industries upon completion.
The latest disclosure confirms that the transaction has closed. CRESCON operates in residential and resort property development and does not belong to Alok Industries’ promoter group or group companies, according to the original filing.
Mileta manufactures textile fibres, fabrics and other textile products. Its operations also include yarn dyeing, chemical processing of fabrics and wholesale trade. The company operates facilities in Horice, which handles weaving and administration, and Cerny Dul, which undertakes processing activities in the Czech Republic.
Mileta contributed approximately 4.11 per cent to Alok Industries’ consolidated turnover in FY25, according to the December 2025 disclosure. The company reported sales of Rs 152.27 crore and a loss of Rs 49.63 crore for the year ended 31 March 2025, compared with sales of Rs 153.23 crore and a loss of Rs 28.53 crore in FY24.
Alok Industries’ FY26 annual report information shows that Mileta’s sales increased to Rs 189.62 crore, while its loss narrowed to Rs 5.92 crore. The figures indicate an improvement in the subsidiary’s reported financial performance before the completion of the divestment. However, the disclosures reviewed do not establish the reasons behind the sale or quantify its impact on Alok Industries’ future profitability and debt position.
The transaction transfers Alok Industries International Limited’s entire equity stake in Mileta to CRESCON. With the sale complete, Mileta no longer forms part of Alok Industries’ subsidiary structure.
