Kiri Industries Acquires Fertilizer Firm IAFL for ₹70 Crore, Eyes Diversification

Kiri Industries Limited has announced plans to acquire a 99.93% stake in IndoAsia Agrotech Fertilizers Limited (IAFL) for ₹70 crore. This strategic move marks Kiri's entry into the fertilizer manufacturing sector through its new subsidiary. IAFL is currently establishing a production facility and has not yet begun commercial operations. The deal is anticipated to conclude within one month.

Kiri Industries, traditionally a manufacturer of dyes, dye intermediates, and basic chemicals for the textile industry, is now diversifying into the essential, government-supported fertilizer market. This pivot could unlock new revenue streams and reduce reliance on its existing business lines, tapping into India's agricultural growth.

IAFL was incorporated on July 16, 2024, with a paid-up share capital of ₹5.00 lakh. Its manufacturing facility is under construction, and commercial operations have not yet commenced, indicating the investment is for a greenfield expansion phase.

The investment in IAFL totals ₹70.00 crore for a 99.93% stake, according to data as of March 2026.

Kiri's move positions it to compete indirectly within the broader agrochemical and fertilizer space against established players like UPL Limited and Rashtriya Chemicals & Fertilizers Ltd (RCF). Other significant companies in this sector include Coromandel International and Chambal Fertilisers and Chemicals Limited, known for their large-scale manufacturing and distribution capabilities.