Modi Naturals Limited has informed the Exchange regarding ' Intimation As Per Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015'.
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Modi Naturals Limited has approved the closure of its manufacturing unit at Village Lalori Khera, Pilibhit, Uttar Pradesh due to non-viability of operations. The company will also sell plant and machinery at this unit for Rs 63 lakhs to a non-promoter buyer by April 23, 2026. The unit contributed Rs 16 crores in turnover (4% of standalone turnover) and Rs 90 lakhs to net worth (0.81%). Land and buildings will be retained. The company states the closure will not materially impact operations as another nearby solvent extraction plant has adequate spare capacity to absorb the processing volume.
This is a minor negative development as it indicates consolidation of underperforming assets. The 4% revenue contribution and the fact that another plant can absorb operations limits the impact on shareholders, but the closure of a unit signals ongoing challenges in the bulk oil business.