1. Approval of Unaudited Financial Results

The Board approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026, along with the Limited Review Report from the statutory auditors, Manek & Associates.

2. Approval for Renewable Energy Procurement and Investment

The Board approved entering into long-term Power Purchase Agreements (PPAs) for the procurement of renewable energy for the company's units in Maharashtra. This involves two projects:

  • A proposed 3.10 MW solar power project (SPV1)
  • A proposed 3.60 MW wind power project (SPV2)

Each project will be developed by a special purpose vehicle (SPV) to be incorporated by Prozeal Green Power Private Limited (an unrelated party) for captive consumption under the Electricity Act, 2003.

The Board also approved subscribing to equity shares representing 26% of SPV1 and 22.28% of SPV2 by executing Share Subscription and Shareholders' Agreements with Prozeal and the SPVs after their incorporation. The final investment model (pure equity or equity plus compulsorily convertible debentures) is yet to be decided.

The overall transaction also involves procuring power on behalf of Macrotech Polychem Private Limited, a wholly-owned subsidiary. NGL Fine-Chem will make the investment on behalf of Macrotech, which will consume the electricity and make payments. The amount to be invested by NGL on behalf of Macrotech is ₹54,00,000 (₹54 lakh).

The total approximate investment by NGL Fine-Chem is ₹4,32,50,000 (₹4.32 crore), broken down as:

  • SPV1 (Solar): ₹1,08,50,000 for a 26% stake
  • SPV2 (Wind): ₹3,24,00,000 for a 22.28% stake

Key Terms of the Power Purchase Agreements (PPAs):

  • Tenure: 25 years from the Commercial Operation Date.
  • Lock-in: 15 years, with early termination compensation if either party exits during this period (excluding default, force majeure, or change in law). After the lock-in, either party may terminate with 6 months' notice and no compensation.
  • Related Party Transaction: No, as Prozeal is not a related party.
  • Captive Status Requirement: The company must hold at least 26% equity and consume at least 51% of the electricity generated annually.

3. Financial Performance Highlights (Consolidated)

For the Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹15,870.73 lakh
  • Total Revenue: ₹15,990.74 lakh
  • Profit Before Tax (PBT): ₹2,159.66 lakh
  • Profit After Tax (PAT): ₹1,624.74 lakh
  • Total Comprehensive Income: ₹1,641.32 lakh
  • Basic & Diluted EPS: ₹26.30

For the Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹29,787.01 lakh
  • Total Revenue: ₹30,649.83 lakh
  • Profit Before Tax (PBT): ₹4,607.33 lakh
  • Profit After Tax (PAT): ₹3,464.46 lakh
  • Total Comprehensive Income: ₹3,444.96 lakh
  • Basic & Diluted EPS: ₹56.08

4. Financial Performance Highlights (Standalone)

For the Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹15,743.24 lakh
  • Total Revenue: ₹15,866.24 lakh
  • Profit Before Tax (PBT): ₹1,803.89 lakh
  • Profit After Tax (PAT): ₹1,343.91 lakh
  • Total Comprehensive Income: ₹1,360.07 lakh
  • Basic & Diluted EPS: ₹21.75

For the Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹29,414.56 lakh
  • Total Revenue: ₹30,261.65 lakh
  • Profit Before Tax (PBT): ₹3,978.39 lakh
  • Profit After Tax (PAT): ₹2,989.03 lakh
  • Total Comprehensive Income: ₹2,969.62 lakh
  • Basic & Diluted EPS: ₹48.38

5. Other Disclosures

  • The financial results were reviewed by the Audit Committee and are subject to a limited review by the statutory auditors.
  • The statements are prepared in accordance with Indian Accounting Standards (Ind AS).
  • The company considers itself a single business segment (Pharmaceuticals) under Ind AS 108.
  • The consolidated results include 100% subsidiary Macrotech Polychem Private Limited.
  • Previous period figures have been regrouped/rearranged where necessary.