KRBL Ltd, India’s largest basmati rice exporter, received shareholder approval on Wednesday to broaden its business scope by entering real estate development and allied activities.
The resolution was passed at the company’s 32nd Annual General Meeting (AGM) with a decisive majority, with votes in favour outnumbering those against by more than three to one.
The change will insert “real-estate development and allied activities” into Clause III(A) of the Memorandum of Association, enabling KRBL and its subsidiaries to acquire, develop, construct, lease, manage, and monetise immovable property.
The company said this diversification would create a complementary growth engine alongside its core agri-foods business while enhancing long-term shareholder value.
The decision comes on the back of strong financial performance. In the June quarter, KRBL’s net profit surged 74% year-on-year to ₹151 crore from ₹86.4 crore, while revenue climbed 32% to ₹1,584 crore. Exports were the standout driver, nearly doubling due to robust demand in private label sales, while domestic revenue grew 15%.
KRBL has built a formidable global presence, exporting to over 90 countries, supported by a domestic network of 850 distributors and the largest contact farming base for rice in India.
As of 2:43 pm, shares of KRBL were trading 0.6% higher at ₹369.25 on the NSE.
CNBC TV18 • 2 min read KRBL shareholders approve MoA change to include real estate, allied activities
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