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The company has approved the closure of its wholly owned subsidiary, IFB Agro Marine (FZE), located in the UAE, due to the uneconomical nature of its marine seafood trading operations. Last financial year, IFB Agro Marine contributed revenue of Rs. 1.77 Cr, accounting for 0.73% of the company’s turnover, and had a net worth of (48) Lakhs. The subsidiary will apply for voluntary liquidation with UAE authorities, and updates will be provided to stock exchanges post-liquidation. This strategic move may streamline operations and reduce losses, presenting a positive outlook for the company’s focus on core businesses. Investors should watch closely for further developments.