Adani Enterprises Divests Entire 100% Stake in Natural Growers for ₹8.25 Crore

Adani Enterprises Divests Entire 100% Stake in Natural Growers for ₹8.25 Crore
Adani Enterprises Divests Entire 100% Stake in Natural Growers for ₹8.25 Crore

by Tanushree Jaiswal Last Updated: Aug 08, 2023 - 02:30 pm 603 Views

Adani Enterprises has sold its entire 100% stake in Natural Growers to Samarpratap Agrotech for ₹8.25 crore, focusing on refining its core businesses. The acquisition aligns with Samarpratap Agrotech's expansion in the food sector. Additionally, Adani's subsidiary, Adani Digital Labs, acquired a 70.19% stake in Trainman for ₹6.8 crore, aiming to innovate and enhance its travel-oriented ventures. This strategic move reflects Adani Group's commitment to diversification and growth.

Adani Enterprises Sells Natural Growers Stake for ₹8.25 Crore

In a strategic move aimed at optimizing its portfolio, Adani Enterprises Ltd. has finalized the sale of its entire 100% stake in Natural Growers, a prominent subsidiary, to Samarpratap Agrotech Pvt. The transaction, valued at ₹8.25 crore, underscores Adani Enterprises' commitment to refining its business focus and capital allocation.

The official announcement, made on Saturday, highlighted that the transfer of equity shares and compulsory convertible debentures related to the divestment received the green light from the board of Natural Growers Pvt. Consequently, this transfer has resulted in Natural Growers Pvt. relinquishing its position as a wholly-owned subsidiary of Adani Enterprises.

Samarpratap Agrotech Pvt., a notable player headquartered in Nagpur, Maharashtra, specializes in the production of an array of food products. This strategic acquisition aligns seamlessly with the company's ongoing endeavors to expand its presence in the food sector.

The successful completion of this stake sale marks a significant step in Adani Enterprises' journey toward fine-tuning its business operations. By offloading its stake in Natural Growers, the conglomerate positions itself for further expansion and investment in its core business areas.

The broader implications of this transaction are expected to unfold as both Adani Enterprises and Samarpratap Agrotech Pvt. embark on new avenues of growth and innovation within their respective spheres. As Adani Enterprises continues to evolve its strategic roadmap, market observers will be keen to monitor the company's future moves and their impact on the ever-dynamic business landscape.

Adani Acquired 70% of Trainman for ₹6.8 Crore

Adani Enterprises Ltd.'s subsidiary, Adani Digital Labs, has successfully completed a significant acquisition, securing a controlling stake of 70.19% in Stark Enterprises Pvt., the proficient operator behind the esteemed online platform for train bookings and information, Trainman. This pivotal transaction, as reported in an official exchange filing, was executed at a valuation of Rs 6.8 crore.

The rationale underlying this strategic acquisition stems from Adani Group's visionary approach, aimed at amplifying its travel-oriented business endeavors. This move is not only indicative of Adani's commitment to diversification but also a testament to its unwavering dedication to innovation and growth.

This isn't the first time Adani Digital Labs has expressed interest in Stark Enterprises. In a notable development in the month of July, the subsidiary, as an integral part of the illustrious Adani conglomerate, had already secured a notable stake of 29.81% in Stark Enterprises.

The powerful alliance of Adani's strength and Stark Enterprises' online train booking expertise is poised to revolutionize the travel industry. With a strategic vision, Adani Group aims to enhance services and elevate travel experiences through this acquisition. This move goes beyond finance, symbolizing a strategic shift that will reshape Adani's travel ventures, driving innovation and setting new industry standards.

Adani Enterprises Q1 results

On August 3, Adani Enterprises announced its financial results for the quarter ending June 2023, revealing a notable increase in consolidated net profit. The company reported a consolidated net profit of ₹674 crore, marking a 44% rise compared to the previous fiscal year's ₹469 crore.

Despite this positive net profit growth, the company's revenue from operations experienced a decline. Adani Enterprises reported revenue of ₹25,438 crore for the quarter, which represented a significant decrease of 38% from the ₹40,844 crore reported during the same quarter in the previous year. The company attributed this decline to a correction in coal prices, which had a notable impact on its overall revenue.

To counterbalance the decrease in operational revenue, Adani Enterprises saw a significant increase in other income. The company reported other income of ₹371.5 crore in the first quarter of the current fiscal year, compared to ₹222 crore in the same period of the previous year. This boost in other income played a pivotal role in supporting the rise in net profit.

Furthermore, the company's EBITDA demonstrated a noteworthy YoY increase of 47%, reaching ₹2,896 crore. Adani Enterprises attributed this substantial growth to strong operational expansion and performance.

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About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.


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