Modi Naturals closes Pilibhit unit, sells machinery for ₹63 lakhs

Modi Naturals Ltd has approved the closure of its manufacturing unit in Pilibhit, Uttar Pradesh, citing non-viability of operations. This decision aligns with the company's strategy to consolidate its bulk oil business. The company will sell the plant and machinery installed at the unit for an agreed consideration of ₹63 lakhs. The land and building will be retained. The Pilibhit unit contributed approximately ₹16 crores (4%) to the standalone turnover and ₹90 lakhs (0.81%) to the standalone net worth in the last financial year. The closure is not expected to have a material adverse impact on overall operations, as another nearby solvent extraction plant with adequate spare capacity is anticipated to absorb the affected processing volume. The sale of plant and machinery is scheduled for completion by April 23, 2026, and the buyer is not a related party.