Hatsun Agro Limited approved sale of Ready to Eat (RTE) Business to Naga Limited for a
consideration of Rs.25 Crores by way of transfer of all the Assets of the RTE
business (excluding the Land and Buildings, Crates and Cans).
The revenue of RTE Business for the FY 2020-21 was Rs.18.49 Crore (0.33% of Rs.5575.51 crore being Revenue of the Company)
The Net-worth (based on gross value of assets) during the last financial year; relating to RTE (Ready to Eat) business as on 31st March 2021 was Rs.59.87 Crore (5.86% of Net Worth of Company). Net worth of the Company as on 31st March 2021 was Rs.1021.51 crore.
The agreement for sale of RTE (Ready to Eat) has been entered into; by the HAL to Naga Limited on 09th March, 2022. The Sale is conditional upon satisfactory completion of the respective conditions precedent by the parties.
The transaction will be effective by end of April, 2022 or such other date as may be mutually agreed to between the parties (the “Closing Date”).