Globalware declares no encumbrance on Zuari Agro shares for FY26

Globalware Trading & Holdings Limited has formally communicated to the stock exchanges and the Audit Committee of Zuari Agro Chemicals Limited regarding the status of its shareholding in the company. The declaration, dated April 2, 2026, was submitted in compliance with Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The disclosure confirms that neither Globalware Trading & Holdings Limited nor any persons acting in concert with it have created any encumbrance, directly or indirectly, on the shares of Zuari Agro Chemicals Limited during the financial year ended March 31, 2026. The company specified that this declaration excludes any encumbrances that had already been previously disclosed to the stock exchanges and the target company.

Declaration Details

The communication serves as a formal confirmation to the regulatory bodies and the company's internal audit committee. The key details of the declaration are outlined below:

Detail	Description
Target Company	Zuari Agro Chemicals Limited
Disclosing Entity	Globalware Trading & Holdings Limited
Regulation Reference	SEBI Takeover Regulations, 2011 (Regulation 31(4))
Period Covered	Financial Year ended March 31, 2026
Encumbrance Status	No new encumbrances made

The letter, signed by Director Akshay Poddar, was addressed to the Audit Committee of Zuari Agro Chemicals Limited, the National Stock Exchange Limited, and BSE Limited for their information and records.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.48%	+4.52%	-8.47%	-18.32%	+4.39%	+123.07%

Zuari Agro Chemicals Limited reported its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The Board of Directors approved the results at its meeting held on May 15, 2026. The financial statements were prepared in accordance with Indian Accounting Standards (Ind AS) and received an unmodified audit report from the statutory auditors, M/s. K.P. Rao & Co., Chartered Accountants.

Standalone Financial Performance

On a standalone basis, the company recorded a net profit of INR 954.78 crores for FY26, a significant turnaround from the net loss of INR 73.09 crores in the previous year. This performance was primarily driven by exceptional items totalling INR 1,168.91 crores. These gains arose from the composite scheme of amalgamation between Mangalore Chemicals & Fertilizers Limited (MCFL) and Paradeep Phosphates Limited (PPL), as well as the slump sale of the company's granulated single super phosphate plant at Mahad, Maharashtra. Consequently, the standalone entity reported no revenue from operations in FY26, as its fertiliser business was divested effective September 30, 2025.

The following table summarises the key standalone financial metrics:

Metric:	Q4 FY26	Q3 FY26	Q4 FY25	FY26	FY25
Total Income (INR Crores):	7.14	0.25	0.25	17.65	27.25
Total Expenses (INR Crores):	19.68	16.57	26.37	69.85	98.08
Profit/(Loss) Before Exceptional Items & Tax (INR Crores):	(12.54)	(16.32)	(26.12)	(52.20)	(70.83)
Exceptional Items (INR Crores):	0.08	(0.13)	-	1,168.91	-
Net Profit/(Loss) — Total (INR Crores):	(14.60)	(7.74)	(22.85)	954.78	(73.09)
Basic EPS — Continuing & Discontinued (INR):	(3.47)	(1.84)	(5.43)	227.01	(17.38)

Consolidated Financial Performance

At the consolidated level, revenue from operations for FY26 declined to INR 3,199.72 crores from INR 4,436.09 crores in FY25. This decrease was primarily due to the derecognition of MCFL as a subsidiary effective September 26, 2025, following the implementation of the NCLT-approved composite scheme. Despite the lower revenue, the group reported a consolidated net profit of INR 982.36 crores for FY26, compared to INR 230.96 crores in the previous year. The group's share of profit from its joint venture increased to INR 217.60 crores in FY26 from INR 150.33 crores in FY25.

The following table presents the key consolidated financial metrics:

Metric:	Q4 FY26	Q3 FY26	Q4 FY25	FY26	FY25
Revenue from Operations (INR Crores):	187.33	343.70	951.99	3,199.72	4,436.09
Total Income (INR Crores):	195.55	344.87	973.80	3,220.02	4,490.37
Total Expenses (INR Crores):	223.64	356.60	980.86	3,050.45	4,337.57
Profit/(Loss) Before Exceptional Items & Tax (INR Crores):	(28.09)	(11.73)	(7.06)	169.57	152.80
Exceptional Items (INR Crores):	(2.80)	(2.90)	-	811.79	-
Net Profit/(Loss) — Total (INR Crores):	(25.10)	39.70	27.20	982.36	230.96
Basic EPS — Continuing & Discontinued (INR):	(5.94)	9.43	4.72	218.70	39.17

Exceptional Items and Key Corporate Transactions

The standalone exceptional items of INR 1,168.91 crores for FY26 included a gain of INR 9.32 crores from the slump sale of the fertiliser plant at Mahad, INR 172.73 crores from the transfer of equity shares in MCFL to ZMPPL, and INR 986.91 crores from the receipt of equity shares of PPL in exchange for the investment in MCFL. At the consolidated level, exceptional items of INR 811.79 crores included a gain on loss of control of subsidiary MCFL of INR 817.49 crores, partially offset by the statutory impact of the New Labour Code and other provisions.

Balance Sheet Highlights

Standalone total assets stood at INR 1,332.50 crores as at March 31, 2026, compared to INR 1,133.40 crores in the prior year. Standalone total equity improved significantly to INR 632.58 crores from INR 135.63 crores. On a consolidated basis, total assets were INR 3,250.52 crores as at March 31, 2026, versus INR 5,026.41 crores as at March 31, 2025. Consolidated total equity stood at INR 2,089.67 crores compared to INR 2,517.47 crores in the prior year.