Kilitch Drugs Divests Ethiopia Subsidiary For USD 12.86 Million Consideration

Board approved sale of 100% in Ethiopia arm Kilitch Estro to HarmeeCare for USD 14M (USD 12.86M to company) after Rs 57 Cr debt-to-equity conversion. Close by 31 Jan 2027. First exit from overseas manufacturing bet, ending years of loss-making Ethiopia operations despite sole-supplier and seller-market claims. Material as arm contributed a fifth of consolidated turnover. Frees focus and cash for Pen sterile campus build; needs shareholder nod under Reg 37A with SPA still to be signed. Use of proceeds and deal costs not disclosed.