Chaman lal setia exports Ltd. has filed its quarterly compliance certificate with the Bombay Stock Exchange and National Stock Exchange of India for the quarter ended March 31, 2026. The submission fulfills the company's regulatory obligations under SEBI (Depositories and Participants) Regulations, 2018.

Regulatory Compliance Filing

The certificate was issued under regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. Company Secretary and Compliance Officer Kanika Nevtria digitally signed the submission on April 4, 2026, forwarding the document to both stock exchanges where the company's shares are listed.

Registrar Confirmation

Beetal Financial & Computer Services Private Limited, serving as the company's Registrar and Share Transfer Agent, issued the confirmation certificate dated April 3, 2026. The SEBI-approved category I registrar confirmed compliance with dematerialization requirements for the quarter ended March 2026.

The registrar's certificate confirms that securities received from Depository Participants for dematerialization during the quarter were properly processed and confirmed to the depositories. General Manager Punit Mittal signed the confirmation on behalf of Beetal Financial & Computer Services Private Limited.

Dematerialization Process Compliance

The certificate validates that all security certificates received for dematerialization were mutilated and cancelled after due verification by the depository participant. The registrar confirmed that the names of the depositories were substituted in the register of members as registered owners within the mandated 15-day period.

The filing demonstrates Chaman Lal Setia Exports Ltd.'s adherence to SEBI's regulatory framework governing depositories and participants, ensuring proper handling of dematerialized securities and maintaining compliance with stock exchange requirements.

Chaman lal setia exports Ltd has delivered a strong turnaround in Q3 FY26, driven by a significant surge in export volumes and favorable market dynamics. The company's strategic positioning in global markets and enhanced brand presence through marquee events have contributed to robust demand across key international markets.

Financial Performance Highlights

The company reported impressive financial results for Q3 FY26, demonstrating strong operational leverage and margin expansion.

For the nine-month period FY26, the company recorded net sales of Rs. 1,011.2 crores compared to Rs. 1,127.6 crores in the corresponding period of the previous year, representing a decline of 10.3%. However, EBITDA margin improved to 10.36% from 9.55% in 9M FY25.

Export Volume Surge and Market Dynamics

The company achieved a drastic surge in export volumes to 48,965 MT in Q3 FY26, marking a pivotal turnaround for the export business. This growth was driven by strategic global stockpiling and rising rice consumption, partly due to food security concerns during geopolitical tensions. The company capitalized on shifting global dynamics and amplified brand presence through participation in marquee events like Anuga and Gulfood, along with multiple upcoming exhibitions.

Key markets showing significant volume growth included:

• Egypt
• Malaysia
• Dubai
• Israel-Palestine region

The surge in volume was further supported by a highly favorable pricing environment, with the company realizing price increases of 10%-20% across premium Basmati categories, specifically the 1509 and 1718 variants (Steam and Parboiled).

Operational Excellence and Business Model

The company operates a fully integrated farm-to-fork business model with strong operational metrics:

The company maintains an asset-light model with majority production through procurement of semi-finished rice and conversion to finished rice, keeping the overall processing cycle short and inventory risk lower. The procurement split shows 86% semi-finished to finished goods and 14% paddy to finished goods.

Strategic Advantages and Market Position

Chaman Lal Setia Exports benefits from several competitive advantages:

• Established Network: Strong relationships with commission agents across all mandis in basmati growing areas
• Quality Control: Stringent quality control measures with majority procurement on cash basis
• Global Presence: Exports to 90+ countries through 440+ distributors with average relationships of approximately 15 years
• Brand Recognition: Flagship brand 'Maharani' present in 35+ countries

The reduction of U.S. import tariffs from 25% to 18% represents a significant structural tailwind, lowering the landed cost of premium Basmati and strengthening competitiveness in the U.S. market.

Financial Strength and Working Capital Management

The company demonstrates prudent financial management with a net working cycle of approximately 188 days, significantly lower than industry peers. Key financial ratios for FY25 include:

The company's strong balance sheet position with low leverage provides ample headroom for future growth initiatives while maintaining financial discipline.