ELGI Equipments Ltd has divested its stake in the US-based joint venture, PLA Holding Company, LLC, through its wholly owned subsidiary, ELGI Compressors USA Inc., marking its exit from the venture, along with its subsidiary, Pattons of California, LLC.
“We would like to inform you that ELGI Compressors USA Inc., a wholly owned subsidiary of the Company, has divested its stake in PLA Holding Company, LLC along with its subsidiary, Pattons of California, LLC,” ELGI Equipments said in its exchange filing.
The transaction was completed on July 10, 2026, with ELGI Compressors USA receiving USD 100,000 as consideration. In addition to the cash payment, the company secured the release of exclusivity granted to its joint venture partner for oil-flooded rotary screw air compressors in certain key counties of California, expanding ELGI’s strategic flexibility in the region.
The buyer is Jeffery Brandon Todd, ELGI’s joint venture partner, who is not part of the company’s promoter or promoter group.
According to the disclosure, the joint venture had a limited financial contribution to ELGI’s consolidated performance. During FY26, ELGI’s share of the JV’s profit stood at USD 41,982, accounting for 0.09% of the group’s consolidated profit after tax, while its share of the JV’s net worth was USD 532,595, representing 0.23% of consolidated equity.
