Future Consumer Limited — Important, 14-11-2024: Updates

The Board of Directors has approved the acquisition of all equity shares of Fonterra Future Dairy Private Limited (FFDPL) held by its JV Partner, Fonterra (Europe) Cooperatie U.A. This acquisition will transition FFDPL into a subsidiary of Delect Spices and Herbs Private Limited, a step-down subsidiary of the Company. FFDPL has had no turnover for FY 2023-24, and its net worth stands at -₹5,625.40 cr as of March 31, 2024. The cash consideration for the acquisition is ₹1,000, with the agreement set to complete by November 30, 2025, following the fulfillment of certain conditions. This move will streamline control over FFDPL and aligns with strategic interests in the dairy product segment. Investors should monitor this development closely, given the potential for renewed focus and restructuring within the dairy business, which may yield future growth opportunities.