Loss-making BK Birla group outfit Kesoram Industries has decided to transfer its tyre unit at Laskar in Uttarakhand into a subsidiary, upon recommendation by its committee.
The company said the committee also suggested “monetising some of its assets” to reduce its 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.