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ELGI Compressors USA Inc. divested its stake in Gentex Air Solutions to James Gery Naico
04-Sep-2026, 12:44
Elgi Equipments Limited announced that its wholly-owned subsidiary, ELGI Compressors USA Inc., has divested its entire stake in Gentex Air Solutions LLC to the existing joint venture partner for release of exclusivity in certain counties of Texas, USA, on September 4, 2026. The share of profit of the joint venture for fiscal year 2026 was USD 7,735, representing 0.02% of Elgi’s consolidated profit after tax, while the share of net worth as of March 31, 2026, was USD 1,38,972, accounting for 0.06% of Elgi’s equity. The buyer is James Gery Naico, and none of the buyers are related to Elgi’s promoter group or group companies.