Goodricke Group Limited has officially announced the cancellation of its non-binding Memorandum of Understanding (MoU) for the sale of Barnesbeg Tea Estate. The company informed the BSE on 31st March, 2026, that the agreement with Mr. Akshay Shankar Das has been terminated by mutual understanding.

Transaction Timeline and Details

The original MoU was executed on 20th February, 2026, and was subject to satisfactory completion of due diligence by 31st March, 2026. The agreement outlined the proposed sale of Barnesbeg Tea Estate to Mr. Akshay Shankar Das under specific terms and conditions.

Reasons for Cancellation

According to the company's disclosure, the parties were unable to align on certain matters during the due diligence process. This inability to reach consensus on key issues led to the mutual decision to terminate the non-binding agreement. As a result, no definitive agreement was executed, and the proposed transaction will not proceed further.

Financial Impact Assessment

Goodricke Group Limited has specifically stated that the cancellation of the MoU does not have any material financial impact on the company. This indicates that the company's financial position and operational capabilities remain unaffected by the termination of this potential asset sale.

Regulatory Compliance

The disclosure was made in strict compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform stock exchanges about material events and corporate developments that could impact investor decisions.

Corporate Communication

The announcement was signed by Arnab Chakraborty, Company Secretary (Membership No. FCS-8557), and digitally authenticated on 31st March, 2026. The communication was directed to the Corporate Relationship Department of BSE Limited, where Goodricke Group Limited trades under scrip code 500166.

Goodricke Group Limited has delivered a strong financial performance for the quarter and nine months ended 31st December, 2025, marking a significant turnaround from the previous year's challenging period. The Kolkata-based tea company published its unaudited financial results following regulatory compliance under SEBI listing obligations.

Financial Performance Highlights

The company's operational performance showed substantial improvement across key metrics during the third quarter of FY26. Revenue growth and profitability recovery demonstrate the effectiveness of management strategies and favorable market conditions.

Nine-Month Performance Analysis

The nine-month period ending December 31, 2025, reinforced the company's recovery trajectory with sustained growth momentum. Revenue from operations reached ₹697.44 crores for the nine-month period, while net profit after tax stood at ₹54.76 crores, showcasing consistent operational excellence.

Earnings per share for the nine-month period reached ₹25.35, reflecting the company's ability to generate substantial returns for shareholders. The comprehensive income for the period totaled ₹63.96 crores, indicating strong overall financial health.

Capital Structure and Equity Position

Goodricke Group maintained a stable capital structure during the reporting period. The paid-up equity share capital remained consistent at ₹21.60 crores, with each share having a face value of ₹10. This stability in capital structure provided a solid foundation for the company's operational performance and growth initiatives.

Regulatory Compliance and Governance

The company's standalone unaudited financial results were thoroughly reviewed by the Audit Committee and received approval from the Board of Directors during their meeting held on 5th February, 2026. This demonstrates the company's commitment to maintaining high standards of corporate governance and regulatory compliance.

The detailed quarterly financial results are available on both the BSE Limited website ( www.bseindia.com ) and the company's official website ( www.goodricke.com ), ensuring transparency and accessibility for all stakeholders.

Market Position and Outlook

The significant improvement in financial metrics positions Goodricke Group favorably within the tea industry. The company's ability to transform losses into substantial profits within a year demonstrates operational resilience and effective management execution. The consistent performance across both quarterly and nine-month periods indicates sustainable business momentum and strategic positioning in the competitive tea market.