EID Parry (India) Limited, a prominent player in the Indian sugar industry, has taken a significant step in its corporate restructuring process. The company has applied to the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) for the declassification of two entities from its promoter category.

Declassification Application Details

The two companies seeking declassification are:

1. Coromandel Engineering Company Limited (CECL)
2. Yanmar Coromandel Agrisolutions Private Limited (YCAS)

Both CECL and YCAS currently hold zero equity shares in EID Parry, making their declassification a logical step in streamlining the company's ownership structure.

Regulatory Compliance

The application for declassification has been made under Regulation 31A of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations. EID Parry is seeking a 'no-objection' from the stock exchanges as part of this process.

Current Shareholding Status

The LODR document provides a clear picture of the current shareholding status of the entities seeking declassification:

This move by EID Parry appears to be part of a larger corporate restructuring process, aimed at simplifying its promoter structure. The declassification, if approved by the stock exchanges, would reflect the current ownership reality, as both companies no longer hold any shares in EID Parry.

Investors and market watchers will be keenly observing the outcome of this application, as it could potentially impact the company's shareholding pattern and governance structure. The stock exchanges' decision on this matter will be crucial for EID Parry's ongoing corporate restructuring efforts.

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.