UPL Limited has informed the Exchange regarding cessation of Serra Bonita Sementes S.A, an Associate Company of UPL Limited, on liquidation.
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UPL Limited has announced that its 33%-owned associate company in Brazil, Serra Bonita Sementes S.A, has sold all its assets for a total consideration of USD 125 million (approx. Rs 1,040+ crore) on June 5, 2025. The buyers are two Brazilian entities/individuals unrelated to UPL's promoters. Proceeds from the sale will be distributed to Serra Bonita's shareholders, including UPL's step-down subsidiary Advanta Brazil, after which Serra Bonita will be liquidated. Serra Bonita had revenue of Rs 441 crore for FY2024 and a net worth of Rs 197 crore (just 0.67% of UPL's consolidated net worth), and it does not contribute to UPL's consolidated revenue. The transaction is expected to complete by December 31, 2025, and is not a related-party deal.
This is a small, non-core divestment — Serra Bonita makes up less than 1% of UPL's net worth and is not consolidated into revenue. Shareholders should see a modest cash inflow (UPL's indirect 33% share of ~$125M, or roughly ~$41M) once the distribution completes by year-end, with no material impact on UPL's core operations or consolidated earnings.