EID Parry (India) Limited, a prominent player in the Indian sugar industry, has announced the dissolution of its wholly owned subsidiary, Alimtec S.A., effective September 22, 2025. This development comes as the final step in a process that began with the company's board approving the sale of assets in August 2023.

Dissolution Details

According to the company's filing with the stock exchanges, EID Parry received a certificate from the competent authority on September 23, 2025, confirming the dissolution of Alimtec S.A. This move aligns with the company's earlier decision to divest the subsidiary's assets and operations.

Background of Alimtec S.A.

Alimtec S.A., the dissolved subsidiary, had ceased all operations since March 20, 2023. Notably, EID Parry disclosed that Alimtec S.A. had not contributed any revenue or income to the parent company during the last financial year, indicating its dormant status leading up to the dissolution.

Financial Impact

EID Parry has clarified that the dissolution of Alimtec S.A. is expected to have minimal financial impact on the company. In its regulatory filing, the company stated:

"With effect from March 20, 2023, Alimtec SA has closed all its operation and there is no contribution to the revenue or income by the subsidiary."

Regulatory Compliance

The dissolution process has been carried out in compliance with the Securities and Exchange Board of India (SEBI) regulations. EID Parry has made the necessary disclosures as per Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

Conclusion

The dissolution of Alimtec S.A. appears to be a strategic move by EID Parry to streamline its operations and potentially focus on its core business activities. As the subsidiary had not been contributing to the company's financial performance, this step is likely aimed at optimizing the company's corporate structure and resource allocation.

Investors and stakeholders will be observing how this move might impact EID Parry's overall business strategy and performance in the future.

EID Parry , a prominent player in the Indian sugar industry, has announced a strategic move to sell its entire 50% stake in the joint venture company Algavista Greentech Private Limited. The Board of Directors approved this decision during a meeting held on September 19, 2025, as disclosed in a filing to the stock exchanges.

Transaction Details

The stake sale, valued at Rs 8.00 crores, will be executed with Synthite Industries Private Limited, the other 50% joint venture partner in Algavista Greentech. Notably, Synthite Industries is not affiliated with EID Parry's promoter group, ensuring an arm's length transaction.

Financial Impact

The divestment involves a joint venture that had a limited financial impact on EID Parry's overall operations:

Timeline and Completion

EID Parry expects to complete the transaction within three months. The company stated that definitive documents for the sale will be signed in due course, formalizing the agreement between the parties involved.

Corporate Governance

In compliance with SEBI regulations, EID Parry has provided detailed disclosures regarding the stake sale. The Board meeting that approved this decision commenced at 9:45 am and concluded at 11:30 am on the day of the announcement.

This move by EID Parry appears to be part of its strategy to streamline its portfolio and focus on core business areas. The minimal financial contribution of Algavista Greentech to EID Parry's overall operations suggests that this divestment is unlikely to have a significant impact on the company's financial performance in the short term.