Himalya International announced today that the joint ventures (JV) agreements between the company and Simplot have terminated.

The company said, "Himalaya suffered huge loss of production and market opportunity by giving exclusive rights on its production facilities in Himachal and Gujarat which Simplot JV could not exploit and kept Himalya units without orders for the last two & half years.''

"The company is now free to re-launch its products at retail chains and market to QSR & HORECA segment," it said.

Shares of the company declined Rs 0.55, or 3.15%, to settle at Rs 16.90. The total volume of shares traded was 32,043 at the BSE (Monday).