Alok Industries has finalised the sale of its whole holding in Czech Republic textile producer Mileta, selling it to property developer Crescon.
In a filing to the stock exchanges, the Reliance Industries owned company said its indirect, wholly owned subsidiary Alok Industries International had completed the transaction.
The completion follows a share purchase agreement December 16, 2025, under which the subsidiary’s entire equity interest in Mileta was to pass to Crescon at a price of €558,825.
Mileta makes textile fibres, fabrics and related products, and its activities span yarn dyeing, chemical processing and wholesale trading.
It operates a weaving and administrative site in Hořice, together with a processing plant at Černý Důl.
In fiscal 2025, Mileta reported revenue of Rs 152.27 crore and a loss of Rs 49.63 crore.
Revenue climbed to Rs 189.62 crore in fiscal 2026, while the loss shrank sharply to Rs 5.92 crore, an improvement recorded shortly before the exit.
By the sale, Alok Industries sheds a modest, loss-making foreign operation and sharpens its attention on core activities, swapping a European presence for a tidier balance sheet.
Image courtesy: Deniz
