IFB Agro political contributions:
Year FY 2022-23 - INR 40 Crores
Year FY 2021-22 - INR 25 Crores
Statement from the Company on 1st April 2022:
We write in continuation to our earlier letters to the Stock Exchanges wherein we have intimated about excise related issues being faced by/ affecting the Company.
The Board of Directors in its meeting dated 31st March, 2022, considered such issues and in the best interest of the company and all its stakeholders decided to approve contributions to political parties by way of subscription to the electoral bonds in one or more tranches aggregating not more than Rs 40 Crores for the financial year 2022-23.
The above statement is related to:
On 25 June 2020, IFB Agro Industries Ltd, one of India’s biggest distiller and spirit-makers, was forced to shut down its Noorpur facility in West Bengal’s South 24 Parganas district after a group of around 150 “armed” goons attacked its employees and vandalised the plant.
IFB Profit after Tax numbers:
Year 2020-21 - INR 46 Crores
Year 2021-22 (Q1-INR 16.23 Q2-INR 21.16, Q3-INR8.59 Crores) - INR 45.98 Crores.
This is the cost of business operation in India - West Bengal.
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