Black Rose Industries has released its annual report for the financial year ended March 31, 2026, reporting steady growth across key financial metrics despite a challenging operating environment. The company recorded consolidated revenue from operations of ₹323.01 crore, a 4.3% increase from the previous year. Consolidated profit after tax (PAT) stood at ₹22.42 crore, marking a 7.1% year-on-year growth.

Financial Performance

The company's EBITDA margin expanded by 9.1% year-on-year to 10.97%, with EBITDA reaching ₹35.44 crore. The net profit margin was reported at 6.94%. On a standalone basis, revenue from operations decreased by 4.25% to ₹323.01 crore (₹32,301.40 lakh), while standalone PAT fell to ₹22.50 crore (₹2,249.61 lakh) from ₹26.59 crore in the prior year.

Note: Previous year figures derived from disclosed growth percentages where absolute values were not explicitly stated in the summary highlights.

Operational Highlights

The manufacturing business remained the primary driver of profitability. Acrylamide liquid volumes registered healthy growth driven by strong domestic demand and export market acceptance. The N-Methylol Acrylamide (NMA) business delivered an outstanding performance, with sales volumes nearly doubling over the previous year due to higher offtakes from key customers and new additions. The company also advanced its polyacrylamide (PAM) project to the piloting stage, signaling progress in downstream product development.

The distribution business faced subdued export demand during parts of the year due to global uncertainty but saw improvement towards the latter part of FY26. The company discontinued its polyacrylamide liquid business and exited the ceramic binder segment in Morbi to focus on areas with stronger long-term potential.

Dividend and AGM Details

The Board of Directors, in its meeting held on May 13, 2026, recommended a final dividend of ₹1.25 per equity share of face value ₹1 each for FY26. This recommendation is subject to approval by shareholders at the 36th Annual General Meeting (AGM) scheduled for Wednesday, September 9, 2026, at 2:00 pm via Video Conferencing or Other Audio Visual Means (VC/OAVM).

Key dates for shareholders include:

• Record Date: September 2, 2026
• AGM Date: September 9, 2026
• Book Closure Period: September 3, 2026 to September 9, 2026

Corporate Governance and Strategy

Mr. Anup Jatia, Non-Executive Director, retires by rotation and offers himself for re-appointment. The Board also seeks ratification of remuneration for M/s. Poddar & Co., Cost Accountants, for the financial year ending March 31, 2027.

The company emphasized its strategy of "Deepening Chemistry, Broadening Horizons," focusing on expanding manufacturing capabilities, widening customer reach, and reinforcing its position across the chemical value chain. Capital employed increased by 3.64% to ₹166.50 crore, while net worth rose by 10.90% to ₹169.28 crore, reflecting retained profits.

Black Rose Industries shareholders have approved the re-appointment of Ambarish Daga and Shruti Jatia as Whole-Time Directors, marking a key governance update for the chemical manufacturer. The approvals came via a postal ballot process that concluded on August 5, 2026, with both special resolutions passing with overwhelming support from public non-institutional investors. This outcome ensures continuity in the company’s executive leadership, as both directors retain their roles critical to operational strategy and management.

The voting results were submitted to BSE Limited on August 6, 2026, pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The postal ballot notice was originally issued on May 13, 2026. M/s. Shiv Hari Jalan & Co., Practicing Company Secretaries, served as the scrutinizer for the e-voting process, which was facilitated by National Securities Depository Limited (NSDL). The scrutinizer’s report, dated August 5, 2026, confirmed that the voting procedure adhered to Section 110 of the Companies Act, 2013, and Rule 20 and 22 of the Companies (Management and Administration) Rules, 2014.

Voting Results Overview

The record date for the postal ballot was July 3, 2026. On this date, there were 51,177 shareholders registered. The total number of shares held by all categories combined was 51,000,000. Voting was conducted exclusively through remote e-voting; no physical polling or postal ballot submissions were recorded. Promoter and promoter group shareholders, who hold 38,249,850 shares, did not participate in the voting for either resolution. Similarly, public institutional shareholders, holding 90,071 shares, cast no votes.

All valid votes originated from public non-institutional shareholders, who hold 12,660,079 shares. The engagement level from this category was consistent across both resolutions, with approximately 0.89% to 0.90% of outstanding shares polled. The high approval rates indicate strong confidence among retail and small institutional investors in the continued tenure of the designated directors.

Resolution Details

Ambarish Daga (DIN: 07125212) received 110,257 votes in favour out of 112,362 votes polled, representing 98.126% support. Only 2,105 votes were cast against his re-appointment. Shruti Jatia (DIN: 00227127) saw slightly higher participation, with 114,028 votes polled. She secured 112,103 affirmative votes, equating to 98.311% support, with 1,925 votes against.

Procedural Compliance and Scrutiny

The e-voting module opened at 9:00 a.m. IST on July 7, 2026, and closed at 5:00 p.m. IST on August 5, 2026. Upon closure, NSDL blocked the e-voting module. The votes were unblocked and downloaded on August 5, 2026, at 5:11 p.m., witnessed by independent witnesses Jata Shankar Vishwakarma and Swapnil Gamare, neither of whom are employed by Black Rose Industries or NSDL.

Shiv Hari Jalan, Proprietor of Shiv Hari Jalan & Co., confirmed that the management fulfilled its responsibilities under the Companies Act, 2013, including compliance with General Circular Nos. 17/2020, 14/2020, 03/2025, 09/2024, and 09/2023 issued by the Ministry of Corporate Affairs. The Postal Ballot Notice and explanatory statement under Section 102 of the Act were sent electronically to members with registered email addresses. All electronic data and records have been handed over to the Company Secretary for safekeeping.