Fresh Agreement to sell dated March 24, 2026 for the sale of its property situated at Village Agwanpur, Moradabad, Uttar Pradesh, measuring 20.084 acres.
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Milkfood Ltd has signed a fresh agreement dated March 24, 2026 to sell its 20.084-acre property at Village Agwanpur, Moradabad, UP for Rs. 130 Crores, replacing an earlier sale agreement from January 16, 2026. The buyers are M/s Bareilly Dairies Ltd and four individuals (Poonam Aggarwal, Amit Aggarwal, Shally Aggarwal, and Mool Chand Aggarwal), none of whom are related to the promoters or promoter group. The property contributed Rs. 74.92 Crore, or 16.73% of the company's turnover, in FY25. The sale is expected to be completed by April 15, 2026, and the net proceeds will be used to reduce borrowings and fund business development.
The Rs. 130 Crore infusion will help Milkfood cut debt and invest in growth, which is a positive for shareholders. However, since the property contributed about 16.7% of revenue, investors should monitor whether the company can offset this loss through its core dairy business going forward.