EID Parry India Ltd to Close Refinery Unit of Wholly Owned Subsidiary, M/s. Parry Sugars Refinery India Private Limited

EID Parry India Ltd has announced the closure of operations of the refinery unit of its wholly owned subsidiary, M/s. Parry Sugars Refinery India Private Limited ('PSRIPL'), with effect from the close of working hours on March 31, 2026. The decision comes after several structural shifts that materially eroded the fundamentals on which the business model was built, resulting in significant increase in accumulated losses. The total estimated liabilities of PSRIPL amount to Rs. 998 crores, which includes bank borrowings of Rs. 877 crores. The Company will need to create a provision of approximately Rs. 655 crores and impair the current carrying value of its investment in PSRIPL, amounting to Rs. 46 crores. The Company has adequate funds as of date to meet these requirements.