Board approves slump sale of Sugar, Distillery and Cogen divisions for Rs 431 cr
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Kesar Enterprises board approved slump sale of Sugar, Distillery and Cogen divisions at Baheri, UP to Avadh Foods and Multi Warehouse Pvt Ltd for Rs 431 crores. The divested unit contributes 100 percent of revenue (Rs 304.50 cr) and 99.55 percent of total income, with negative net worth of Rs 133.24 cr. Buyer is an unrelated third party. Deal needs shareholder approval via special resolution and is expected to close by 15 June 2027.
Effective exit from core sugar and distillery business; needs shareholder approval. Rs 431 cr sale partly offsets negative net worth of the unit.