Zuari Agro Chemicals invests in joint venture Zuari Maroc Phosphates

Zuari Agro Chemicals Limited announced today, October 10, 2025, the allotment of 69,16,173 non-voting compulsorily convertible preference shares (CCPS) from Zuari Maroc Phosphates Private Limited (ZMPPL). This transaction, valued at INR 1,77,39,98,374.50, finalizes a securities subscription agreement between ZACL, ZMPPL, and OCP S.A. The acquisition, considered a related party transaction, was conducted on an arm’s length basis and aligns with ZACL’s previous disclosure on July 28, 2025.

ZMPPL, a joint venture incorporated on January 24, 2002, is engaged in trading fertilizers, industrial ammonia, and sulphuric acid. Following this investment, ZACL and OCP each hold 50% of ZMPPL's share capital. ZMPPL’s latest audited financial statements for FY 2024-25 show a standalone net-worth of INR 34,582.08 Lakhs and a turnover of INR 9,512.73 Lakhs. On a consolidated basis, its net-worth was INR 268,901.74 Lakhs with a turnover of INR 1,400,388.45 Lakhs.

The CCPS price was determined by a valuation report dated September 18, 2025, issued by SSPA & CO. Chartered Accountants. This investment is part of a broader scheme of arrangement to potentially raise funds for ZMPPL.