Murugappa Group company EID Parry on Friday approved the sale and transfer of its Sivagangai distillery unit as a going concern by way of a slump sale for a proposed consideration of ₹45.90 crore.
The unit generated a total income of around ₹120 crore in FY26, contributing nearly 3 per cent to the overall total income, the company said in an exchange filing. As of March 2026, the investment in the unit stood at approximately ₹9.84 crore.
The buyer is SVRAJU Agro Pvt Ltd, a company with diverse business interests spanning manufacturing, trading and real estate, with extensive experience in the distillery industry. The move is part of the asset rationalisation strategy to optimise its asset portfolio and enable greater focus on its core businesses, EID Parry said.
“The Sivagangai unit, being a standalone distillery primarily dependent on molasses as feedstock, has faced challenges due to reduced availability of sugarcane and molasses in Tamil Nadu and the economics associated with sourcing molasses from other States,” it added.
EID Parry on Friday reported consolidated net profit (after tax and non-controlling interest) of ₹253 crore in Q2 FY27 compared with ₹424 crore it posted in the same period last year, marking a 40 per cent decline.
Consolidated revenue from operations stood at ₹11,213 crore (₹10,462 crore). Revenue from the sugar segment rose 32 per cent to ₹486 crore, supported by higher sales volumes and better realisations, said Muthiah Murugappan, Whole-time Director and CEO.
“The sugar segment returned to profitability [at ₹6 crore], compared with a loss of ₹20 crore in the corresponding quarter of the previous year,” he added. The distillery segment also returned to profitability, reporting a profit of ₹2 crore compared with a loss of ₹16 crore in the year-ago period, driven by improved operational efficiencies and higher sales volumes.
Even though the consumer products group reported a decline in revenue, Murugappan pointed out that it recorded an improvement in operating margins. The shares of EID Parry ended the trading day at ₹655.10, down 2.19 per cent on the BSE.
Published on November 13, 2026
