Sale8 Aug 2025, 12:32 pm
Zuari Agro Chemicals to Sell Granulated Single Super Phosphate Plant to Subsidiary for INR 72.75 Crores
AI Summary
Zuari Agro Chemicals Ltd. announced the outcome of its Board Meeting held on 8th August 2025, approving the sale and transfer of a part of its business, including the granulated single super phosphate plant and certain related assets situated at Mahad, Maharashtra, to its subsidiary, Mangalore Chemicals & Fertilizers Limited (MCFL) for a lump sum consideration of INR 72,75,00,000, subject to shareholder approval. The Mahad Plant accounted for 100% of the company's total turnover for the year ended 31st March 2025, with a net book value of INR 51.10 Cr, which is 38% of the net worth of the company.
Key Highlights
- Zuari Agro Chemicals to sell a part of its business to its subsidiary, MCFL, for INR 72.75 Crores.
- The sale includes the granulated single super phosphate plant and certain related assets situated at Mahad, Maharashtra.
- The Mahad Plant accounted for 100% of the company's total turnover for the year ended 31st March 2025.
- The transaction is at arm's length and falls under the slump sale category.
- The proposed sale aims to provide liquidity to the company and enable it to repay certain liabilities.