Citichem India Ltd

CITICHEM INDIA LIMITED trading window to remain closed from October 1, 2026 till the end of 48 hours after the declaration of the unaudited Financial Results of the Company for the Second quarter ended on September 30, 2026.

Financial snapshot FY2025-26

• Net sales from operations: Rs 94,782,071.
• Total income: Rs 154,805,692.
• Profit before tax: Rs 13,742,130.
• Net profit after tax: Rs 10,014,177; EPS basic Rs 1.47.
• Dividend not recommended for FY2025-26.
• YoY revenue from operations declined from Rs 186,953,623 to Rs 94,782,071.
• Reserves and surplus rose to Rs 143,005,595.
• Current tax Rs 3,500,000; deferred tax Rs 227,953.
• Total reserves: Rs 143,005,595.
• Cash flow from operations: net outflow Rs 51,930,847.
• IPO proceeds partially utilized; remaining funds placed in fixed deposits.

Capital structure & liquidity

• Equity share capital: Rs 68,000,000; 6,800,000 shares.
• Reserves and surplus: Rs 143,005,595.
• Short-term borrowings: Rs 77,205,967; long-term borrowings: Nil.
• Current ratio: 1.77; debt-equity ratio: 1.60.
• Cash and cash equivalents: Rs 6,558,931.
• IPO funds: part utilized; remaining in fixed deposits.
• No long-term debt; capital structure remains lean.

Governance, audit & internal controls

• Statutory auditors NGST & Associates; term to 2028.
• Secretarial auditor Kalpana Srinivasan; MR-3; no qualifications.
• Five board meetings held in 2025-26.
• Audit Committee: three independent directors; meetings held.
• Separate independent director meeting held 21 Jan 2026.
• BSE SME listing; 2026-27 listing fee paid.
• Internal financial controls adequate; no material weaknesses.
• Management evaluation affirmed; independence declarations received.

Tax disputes & contingent liabilities

• Contingent liabilities total Rs 2,207,180,956 (IT and GST demands).
• AY 2020-21 reassessment reopened; reply filed; awaiting final determination.
• AY 2021-22 and 2022-23: NFAC orders; ITAT appeals pending.
• AY 2023-24: appeal filed; grounds include mismatch and computation concerns.
• AY 2024-25: demand Rs 29,559,840; provisions being reassessed.
• AY 2025-26: shortfall in self-assessment tax; not disputed.
• Pre-deposit Rs 27,40,485 paid; recoverable if appeal succeeds.
• Writ petition before Bombay High Court challenging consolidated GST notice; pending.

IPO & shareholding

• IPO bid window: 27–31 Dec 2024; allotment 1 Jan 2025.
• Listed on BSE SME on 3 Jan 2025; issue price Rs 70.
• Funds used for capex, vehicles; remainder kept in fixed deposits.
• Promoters holdings: Arif Merchant 27.83%, Hashim Merchant 15%, Fozia 7.35%, Saima 7.35%.
• Globopac India Private Limited holds 4.41%.

Management discussion & outlook

• Industry structure emphasizes domestic market potential and promoter experience.
• Outlook: opportunities from trading base expansion; concrete plans not yet established.
• Risks include competitive market pressures and potential adverse government policies.
• Internal controls and risk management processes are described as robust.

Other governance & disclosures

• CSR policy not mandatory; CSR report not applicable.
• POSH policy, with ICC; no harassment complaints in FY2025-26.
• AS-17: single trading/chemical segment; no separate segment disclosures.
• Auditor reports indicate no fraud; internal controls adequate.

AGM & ordinary business

• AGM on 30 September 2026 at 3:00 PM IST at Imperial Lounge NSCI Worli Mumbai.
• Mode: physical meeting with remote e-voting facility.
• Remote e-voting from 27 September 2026, 9:00 AM to 29 September 2026, 5:00 PM.
• Voting cut-off date for members: 23 September 2026.
• Ordinary business includes adoption of audited financial statements for FY 2025-26.
• Ordinary business includes reappointment of Wasim Nisar Rizvi by rotation.