Execution of non-binding MoU for sale of Chalouni Tea Estate, intimation under Regulation 30 of SEBI (LODR) Regulation, 2015.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Goodricke Group has signed a non-binding MoU on April 6, 2026 with Mr. Ashok Kumar Goyal and Mrs. Suman Goyal (both individuals, not related parties) for the proposed sale of Chalouni Tea Estate. The estate contributed Rs. 17.39 Crore (1.9% of total turnover) in FY 2024-25 and accounts for 5% of the company's net worth. The estate produces approximately 695,000 Kgs of tea annually. The proposed sale price is Rs. 19 Crore, subject to adjustments for current assets and liabilities. A definitive agreement is expected by May 15, 2026, contingent on satisfactory due diligence. Shareholder approval was already obtained via postal ballot in January 2026. The transaction falls outside any scheme of arrangement.
This is a relatively minor asset sale (under 2% of revenue) and unlikely to have significant impact on the stock. However, it signals continued portfolio rationalisation in the tea business. The non-binding nature means the deal could still fall through.