Astral Limited will hold its 30th Annual General Meeting (AGM) on Monday, August 24, 2026, at 11:00 a.m. via Video Conference (VC) or Other Audio-Visual Means (OAVM). The meeting aims to transact ordinary and special business, including the approval of the financial results for FY26 and the recommendation of a dividend. Shareholders are advised that the dividend income is taxable in their hands, and Tax Deducted at Source (TDS) will be applied as per the Finance Act, 2020.

The Board of Directors has recommended a dividend of ₹2.50 per equity share, representing 250% of the face value of Re. 1 per fully paid-up share. This proposal is subject to member approval at the ensuing AGM. To determine eligibility for this dividend, the Company has fixed Friday, August 14, 2026, as the Record Date. Dividends will be paid electronically after August 24, 2026, to shareholders whose names appear in the Register of Members on the Record Date. Members holding shares in physical form are urged to update their bank details with the Registrar and Share Transfer Agent, while demat holders must ensure their details are updated with their respective Depository Participants.

E-Voting and Record Dates

Pursuant to Section 108 of the Companies Act, 2013, Rule 20 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Astral Limited is providing remote e-voting facilities. The cut-off date for determining voting eligibility is Monday, August 17, 2026. Voting rights are proportional to the equity shares held on this date.

The remote e-voting facility is provided by Central Depository Services (India) Limited (CDSL). Members who have cast their votes via remote e-voting prior to the AGM may attend the meeting but cannot vote again. Those who have not voted remotely can vote during the AGM via the e-voting system. Mrs. Monica Kanuga, a Practicing Company Secretary, has been appointed as the scrutinizer to ensure the voting process is fair and transparent.

What the Numbers Show

The proposed dividend of ₹2.50 per share indicates management’s confidence in the company’s cash generation capabilities for FY26. With the dividend payout being substantial relative to the face value, shareholders should note the tax implications under the current regime where dividends are taxable in the hands of the investor rather than the company. The strict adherence to record dates and e-voting timelines underscores the regulatory compliance framework governing listed entities in India.

Astral Limited has withdrawn its proposed Composite Scheme of Arrangement for the demerger of its Chemical Business, a strategic reversal that impacts shareholder expectations for the separation. The Board of Directors made this decision on July 29, 2026, concluding that the proposed restructuring is not in the best interests of the company or its shareholders at this stage.

The withdrawal follows a comprehensive independent review of the scheme, which was initiated after initial disclosures on June 25, 2026, and July 5, 2026. Astral appointed an Independent Consultant to evaluate the Composite Scheme of Arrangement and assess alternative restructuring options. The consultant recommended against proceeding with the scheme in its present form, primarily due to the current scale of the Chemical Business.

Board Deliberations and Rationale

The Board undertook a detailed review of the scheme, considering feedback from the Independent Consultant, shareholders, investors, and other market participants. The decision also factored in the prevailing business environment and the company's long-term strategic objectives.

According to the disclosure filed with the Bombay Stock Exchange and the National Stock Exchange of India Limited under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board concluded that the Chemical Business requires more time to build the necessary scale and financial strength. This foundation is deemed essential to fund both organic and inorganic growth initiatives effectively.

Key Decision Parameters

The following table outlines the key parameters surrounding the board's decision to withdraw the scheme:

Strategic Implications

With the withdrawal of the scheme, no further steps will be taken regarding the proposed demerger. The company stated it remains committed to enhancing shareholder value and will continue to evaluate various strategic initiatives for business growth. Future material developments will be disclosed in accordance with applicable laws and regulations.

The decision highlights a strategic prioritization of operational maturity over structural separation. By delaying the demerger until the Chemical Business achieves sufficient scale, Astral aims to ensure the standalone entity can sustain growth without straining corporate resources. This approach reflects a focus on strengthening the underlying fundamentals of the chemical segment before exposing it to independent market valuation.