Announced Mon, 20 Apr · 19:40 IST
Board approves Rs 305 Cr Meerganj unit slump sale, JV and director changes
Management Changes View source PDF
DBOL · price
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Price reaction · full curve 14 horizons · vs prior close
+2.4%1-day move
₹112.01
prior close
₹112.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.4-0.8-0.2+0.0+2.4+7.1+7.3+8.0+7.1+12.0+1.6-5.8+2.8-5.1
Up moveDown movePending
AI summary
Board approved: (1) Slump sale of Meerganj sugar unit to Forever Global Enterprises for Rs 305 Cr (~15.5% of FY25 turnover of Rs 423 Cr; total turnover Rs 2,714 Cr). Aims to focus on high-margin businesses and become net debt free, completion in 60 days. (2) JV with Orgonew (74:26) for phyto bio-active functional foods. (3) Sandeep Kumar shifts from Whole-Time to Non-Executive Director. (4) CFO Nalin Kumar Gupta appointed WTD cum CFO for 3 years. EGM on May 18, 2026.
Likely market impact
Rs 305 Cr inflow will strengthen balance sheet and aim for net debt-free status; strategic shift to high-margin value-added products is positive.