Intimation of Amendment in Loan Agreement with M/s Carya Chemicals & Fertilizers Private Limited.
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Suraj Industries has signed an amendment to its loan agreement with Carya Chemicals & Fertilizers Pvt Ltd (CARYA), its 85.75% material subsidiary, on November 14, 2025. The sanctioned inter-corporate loan has been raised from Rs. 20 Crore to Rs. 50 Crore, an additional Rs. 30 Crore, to fund CARYA's distillery project. The loan is unsecured and convertible into CARYA's equity at the lender's discretion, with a 3-year tenure. Interest is set at 15% per annum on Rs. 8.14 Crore and 9.85% per annum on the balance. As of the disclosure date, Rs. 12.30 Crore was already outstanding under the original July 2025 agreement. The transaction is a related-party deal conducted at arm's length.
The expanded loan commitment increases Suraj Industries' financial exposure to its subsidiary by Rs. 30 Crore, tying up more capital in the distillery project. Shareholders should watch for further drawdowns and the impact on the parent's liquidity, though the option to convert the loan into equity provides downside flexibility.