Nagarjuna Agri-Tech Expands into Food Sector

Nagarjuna Agri-Tech Limited has completed the acquisition of Allenby Food & Beverages Private Limited for ₹144.74 crore. Allenby Food & Beverages reported a turnover of ₹52.96 crore for fiscal year 2025.

Deal Completion

Nagarjuna Agri-Tech Limited has finalized its acquisition of Allenby Food & Beverages Private Limited, making it a wholly-owned subsidiary. The transaction involved issuing 2,12,86,020 equity shares of Nagarjuna Agri-Tech on a preferential basis as consideration. In a separate development, the company's Board of Directors has cancelled a prior resolution to appoint Mr. Biswanath Bhattacharya as Chief Executive Officer due to medical reasons.

Strategic Diversification

The acquisition marks a significant strategic shift for Nagarjuna Agri-Tech, moving beyond its traditional floriculture business to diversify revenue streams. By acquiring Allenby Food & Beverages, which specializes in ready-to-eat products and noodles, Nagarjuna Agri-Tech aims to enter the expanding food industry market.

Background

Shareholders previously approved this acquisition, along with other strategic moves in the food and beverage sector, at an Extraordinary General Meeting (EGM) on December 22, 2025. Nagarjuna Agri-Tech had also planned to increase its authorized share capital to support such expansions, including this acquisition through a preferential equity issuance.

Key Changes

• Allenby Food & Beverages is now a wholly-owned subsidiary of Nagarjuna Agri-Tech.
• Nagarjuna Agri-Tech enters the ready-to-eat food products and noodles market.
• The company's business portfolio diversifies substantially from its agriculture-focused floriculture operations.
• A vacant CEO position requires immediate attention for leadership.

Competitive Landscape

Nagarjuna Agri-Tech is entering a competitive food processing market, facing established players like Nestle India and Hindustan Unilever Limited (HUL). Concurrently, its existing agri-input business competes with agritech firms such as AgroStar and BigHaat.

Financial Snapshot

Allenby Food & Beverages Private Limited reported a Net Worth of ₹48.73 crore as of September 30, 2025. For the fiscal year ending March 31, 2025, Allenby's turnover reached ₹52.96 crore, a substantial increase from ₹0.66 crore in FY2024.

Outlook and Key Focus Areas

Investors will be tracking:

• Nagarjuna Agri-Tech's strategy for integrating Allenby's operations and brands.
• The process and timeline for appointing a new Chief Executive Officer.
• Performance updates on Allenby's business and its contribution to Nagarjuna Agri-Tech's consolidated financials.