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 has received a formal request from Algavista Greentech Private Limited (AGPL) seeking reclassification from the promoter group category to public shareholder status. The request, submitted on December 18, 2025, follows the completion of EID Parry's divestment of its entire 50% stake in the joint venture company.

Stake Divestment Background

Earlier, EID Parry's Board of Directors had approved the strategic decision to sell its entire 50% stake in Algavista Greentech Private Limited. The transaction details were as follows:

Reclassification Request Details

Algavista Greentech has formally requested removal from EID Parry's promoter and promoter group list, citing that it no longer falls under the definition specified in SEBI regulations. The current shareholding status shows:

Regulatory Compliance

As required under Regulation 31A of SEBI Listing Regulations, Algavista Greentech has confirmed that neither the company nor any related persons hold more than 10% voting rights in EID Parry, exercise control over company affairs, have special rights, or are represented on the board of directors. The company has also confirmed it does not act in concert with EID Parry's promoter group and is not privy to any price-sensitive information.

Approval Process

The reclassification requires approval from EID Parry's Board of Directors and no-objection from both the National Stock Exchange of India Limited and BSE Limited. EID Parry has informed the stock exchanges about receiving this request in compliance with regulatory disclosure requirements.

Strategic Impact

This development completes EID Parry's strategic move to streamline its portfolio and focus on core business areas. The minimal financial contribution of Algavista Greentech to EID Parry's overall operations suggests the reclassification will have limited impact on the company's financial performance while ensuring proper regulatory compliance.