NGL Fine Chem Ltd

NGL Fine Chem Ltd: Trading Window closed from Thursday, October 1, 2026 till 48 hours after the declaration of the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026.

GST Show Cause Notice

• Show Cause Notice received from GST Department under CGST/MGST Act.
• Notice dated 22 September 2026; learned on 25 September 2026.
• Hearing opportunity on 22 October 2026; detailed reply with supporting documents to be filed.
• Total GST demand proposed: ₹6,18,61,905.
• Breakdown: tax ₹3,04,36,444; interest ₹2,66,42,312; penalty ₹47,83,149.
• Alleged excess outward tax liability in GSTR-1 for FY 2022-23.
• Alleged ineligible ITC of ₹2,86,05,444 not reflected in GSTR-2A/2B.
• Company believes it has grounds to substantiate its position.
• No material impact on financial or operational activities anticipated.
• Annexure A contains detailed SCN particulars.

Key Update

• Phase II of Tarapur Greenfield facility commenced commercial production on September 24, 2026.
• Total investment for the Greenfield facility stands at ₹222 crore; financing ₹84 crore loan and ₹138 crore accruals.

Meeting Details

• Date: September 16, 2026; time not disclosed.
• Type and mode: one-on-one, virtual meeting.
• Event: One-to-one Analysts/Investor Meet.

Participants

• Role: Company Secretary and Compliance Officer attended.

Purpose

• Purpose: Discuss publicly available information; no UPSI shared; no presentation delivered.

Meeting Details

• Date and time: Wednesday, September 16, 2026 at 11:30 IST.
• Type: One-to-One; Mode: Virtual.
• Organizer: NGL Fine-Chem Limited; Purpose: Investor/Analyst meeting.

AGM Details

• AGM held on August 25, 2026 at 11:00 IST via VC/OAVM.
• AGM concluded at 11:25 IST.
• Record date for eligibility: August 18, 2026.
• Shareholders on record: 13,525.
• Attendance: 3 promoter group attendees; 39 public attendees via VC.

Resolutions & Voting

• All AGM resolutions passed with requisite majority.
• Voting results and scrutinizer's report submitted as Annexures A and B.

AGM details

• AGM held on 25 August 2026 from 11:00 to 11:25 IST via VC/OAVM.
• No proxies due to VC/OAVM format; quorum met.
• Remote e-voting ran 22–24 August 2026; Scrutinizer appointed.

Resolutions on agenda

• Adopt audited financial statements and reports for FY2026 (ordinary).
• Declare final dividend for FY2026 (ordinary).
• Re-appoint Rajesh Lawande as Director by rotation (ordinary).
• Re-appoint Rajesh Lawande as Whole-Time Director (special).
• Re-appoint Sarala Menon as Independent Director (special).
• Ratify remuneration payable to Cost Auditor (ordinary).

Voting results status

• Consolidated results and Scrutinizer's report to be declared within timelines.

CSR corrigendum

• CSR spend FY26 corrected from ₹41.50 Crores to ₹41.50 Lakhs.
• Statutory CSR Obligation corrected from ₹51.61 Crores to ₹51.61 Lakhs.
• Correction pertains to non-statutory CSR figures; no financial statements impact.

Business overview

• Animal health specialist focused on veterinary APIs; operates three manufacturing facilities.
• Phase II expansion underway to support next growth leg.

Key operational highlights

• Q1FY27 volumes robust across segments and geographies.
• Forex MTM reversal boosted profitability in Q1FY27.
• Phase II capex on track; commissioning expected this quarter.
• Tarapur greenfield expansion capex ₹210 crore; capacity to meet demand.

Financial performance

• Q1FY27 revenue from operations ₹139.16 crore.
• Total income ₹146.59 crore in Q1FY27.
• EBITDA ₹23.29 crore; margin 16.73%.
• PAT ₹18.40 crore in Q1FY27.
• YoY revenue growth 33.57%.

Capital structure & liquidity

• Long-term borrowings ₹56.40 crore; short-term ₹52.02 crore (FY26).
• Cash and bank balances ₹5.11 crore (FY26).
• CFO FY26 ₹43.32 crore.

Strategic priorities & outlook

• Tarapur greenfield capex ₹210 crore funded via debt and accruals.
• Phase II on track; commercial production in H2 FY27.
• Longer-term growth driven by demand and operating leverage.

Risks & mitigation

• Margin moderation as price realisations normalise.
• Forex movements remain volatile; management emphasises earnings resilience.

Governance & leadership

• Management commentary by MD Rahul Nachane; no governance changes disclosed.