India Cements has sold all its shares in Industrial Chemicals and Monomers Ltd (ICML) to a company called Mirai Sensing Private Ltd for Rs 98 crore. This information was shared in a filing with the Bombay Stock Exchange. After the sale, ICML will no longer be part of India Cements.

ICML, which is based in Tirunelveli, Tamil Nadu, had already stopped its operations. In India Cements’ 2024 annual report, the company said that ICML had become unviable, meaning it was not making money. They also mentioned that they are now looking at different ways to bring the business back.

By selling ICML, India Cements is exiting a part of its business that was not doing well, so it can focus on areas that are more profitable.