IFB Agro Industries Limited, a prominent player in the agro and marine products sector, has announced the successful completion of the voluntary liquidation of its wholly-owned subsidiary in the United Arab Emirates (UAE). The closure, which includes the subsidiary's representative office in Dubai, marks a significant development in the company's international operations.

Subsidiary Details

The liquidated entity, IFB Agro Marine (FZE), was formally registered at the Sharjah Airport International Free Zone Authority in Sharjah, UAE. Its primary business focus was trading in marine seafood products.

Liquidation Process

The voluntary liquidation process has been finalized. This move aligns with the company's strategic decisions and has been executed in full compliance with the applicable laws and formalities in the United Arab Emirates.

Regulatory Compliance

In a statement to the stock exchanges, IFB Agro Industries confirmed that the closure has been completed in accordance with UAE regulations. The company stated, "The closure has been completed in compliance with the applicable laws and formalities in the United Arab Emirates."

Next Steps

Following this international closure, IFB Agro Industries has indicated its commitment to fulfilling all necessary statutory and regulatory requirements in India related to the liquidation. The company secretary, Kuntal Roy, affirmed, "The Company will also complete the necessary statutory and regulatory formalities in India with respect to such liquidation/closure."

Impact and Outlook

While the specific reasons for the subsidiary's closure were not detailed in the announcement, this move suggests a potential shift in IFB Agro Industries' international strategy. The impact of this decision on the company's overall operations and financial performance remains to be seen in the coming quarters.

Investors and stakeholders will likely be keen to observe how this strategic move affects IFB Agro Industries' future growth plans and global market presence, particularly in the marine seafood trading sector.

As the company adapts to this operational change, market watchers will be monitoring its performance and any further strategic announcements in the near future.

IFB Agro Industries Limited has successfully completed the acquisition of Cargill India Private Limited's entire commercial compound shrimp feed and freshwater fish feed business in India for Rs 110.00 crore. The deal, which marks a significant expansion in IFB Agro's aquaculture portfolio, was finalized on July 31, 2025.

Acquisition Details

The acquisition, executed through a Business Transfer Agreement dated May 30, 2025, includes:

• Feed formulations
• Assets
• Contracts
• Business undertaking liabilities
• Licenses and permissions
• Employees
• Two manufacturing facilities located in Vijayawada and Rajahmundry, Andhra Pradesh

The transaction was structured as a slump sale on a going concern basis, with the consideration subject to working capital and other agreed adjustments.

Strategic Expansion

Mr. Bikramjit Nag, Chairman of IFB Agro Industries, stated during the company's 43rd Annual General Meeting that this acquisition aligns with the vision of their late Founder and Chairman, Mr. Bijon Bhushan Nag. The move is expected to significantly boost IFB Agro's presence in the fish and shrimp feed market.

The acquired business reported an annual turnover of Rs 353.00 crore as of March 31, 2025. IFB Agro plans to leverage the spare capacity available at the acquired facilities to further grow its fish and shrimp feed business.

Operational Timeline

Financial Implications

The Rs 110.00 crore consideration was paid to Cargill India Private Limited through bank transfer on July 31, 2025. This strategic investment is expected to strengthen IFB Agro's position in the aquaculture sector and contribute to its future growth.

Company Performance

During the AGM, Mr. Nag also provided insights into the company's performance for the financial year 2024-25:

• The business showed improvement compared to the previous year, despite operating in a challenging environment marked by intense competition.
• The distillery operations were impacted by unprecedented rises in input raw material prices due to increased demand from ethanol manufacturers.
• The Indian Made Liquor (IML) business witnessed a shift in customer purchasing behavior due to significant increases in MRP over the last 2-3 years.

Corporate Governance Updates

In other company news, the AGM also approved the following:

1. Re-appointment of Mr. Arup Kumar Banerjee as Executive Vice Chairman for a further period of 2 years, effective July 30, 2025.
2. Appointment of M/s. LABH & LABH Associates as the Company's Secretarial Auditor for a period of 5 consecutive Financial Years from 2025-2026 to 2029-2030.

These strategic moves and corporate updates underscore IFB Agro Industries' commitment to growth and good governance as it expands its footprint in the aquaculture sector.