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Loss-making BK Birla group outfit Kesoram Industries has decided to transfer its tyre unit at Laskar in Uttarakhand into a subsidiary.
A board-appointed committee had recommended such a move.
The company said the committee also suggested “monetising some of its assets” to reduce it debt burden.
In a note to its accounts for the third quarter of 2014-15, the company indicated without specifics that it would seek approvals on the subject.
Burgeoning finance costs for the third quarter stood at ₹174.38 crore (₹139.81 crore). In the first nine months of the fiscal, it logged finance costs of ₹517.62 (₹418.93 crore).
It reported a net loss of ₹244.60 crore (₹88.28 crore) in Q3. Kesoram had clocked a net loss of ₹515.55 crore in whole of 2013-14.
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