Goodricke Group signs non-binding MoU for Barnesbeg Tea Estate sale

Goodricke Group Ltd has executed a non-binding Memorandum of Understanding (MoU) with SPEC FINANCE IFSC PRIVATE LIMITED and ASHVIK STRATEGIC VENTURES LLP for the proposed sale of its Barnesbeg Tea Estate. The MoU allows for due diligence, with a definitive agreement subject to satisfactory completion. The tea estate contributed ₹2.62 Crores (0.25% of total turnover) in FY26. The net worth contribution was approximately 0.53% of the company's total net worth. The transaction is considered material as it exceeds 5% of the average profit or loss after tax over the last three audited financial statements. The potential sale consideration is ₹5 Crores, exclusive of taxes, with adjustments for current assets and liabilities. The buyers are independent entities and do not belong to the promoter group. The definitive agreement is expected by January 31, 2027.