Madhya Bharat Agro Products has approved the sub-division of its equity shares from a face value of ₹10 to ₹2, effectively implementing a 1:5 stock split to enhance liquidity and broaden the shareholder base. The Board of Directors approved this corporate action during its meeting held on May 26, 2026, alongside several other key resolutions aimed at strengthening the company's financial and operational framework.

Key Details of the Stock Split

The Board approved the sub-division of one fully paid-up equity share of ₹10 each into five fully paid-up equity shares of ₹2 each. This adjustment is subject to the approval of the shareholders and other regulatory or statutory approvals. The record date for the sub-division will be intimated in due course. The rationale behind the split is to make the shares more affordable and accessible to a wider base of investors, thereby increasing trading volumes without affecting the overall capital structure or intrinsic value of the company.

Capital Structure Changes

Consequent to the sub-division, the company will alter the capital clause of its Memorandum of Association. The authorized share capital will be revised to ₹110 crore, divided into 55 crore equity shares of ₹2 each. The issued, subscribed, and paid-up equity share capital will adjust to 43,81,34,700 equity shares of ₹2 each, up from 8,76,26,940 shares of ₹10 each. The split is expected to be completed within 2-3 months from the date of shareholder approval.

Fund Raising and Board Approvals

The Board noted that a previous approval to raise ₹1000 crore could not be pursued due to market conditions. Consequently, the Board decided to seek fresh shareholder approval at the ensuing Annual General Meeting to issue further securities up to ₹1000 crore. This may include equity shares, preference shares, debentures, or warrants through modes such as private placement, preferential issue, or QIP. Additionally, the Board approved increasing borrowing powers and the limit for creating mortgages on assets up to ₹2500 crore each, subject to shareholder approval. The Board also recommended the continuation of Mr. Paras Mal Surana as a Non-Executive Independent Director upon attaining the age of 75 years.

AGM Schedule and Record Dates

The Annual General Meeting (AGM) is scheduled for Wednesday, June 24, 2026, via video conferencing. The record date for determining eligibility for e-voting and the payment of the final dividend has been fixed as June 17, 2026. The cut-off date for the dispatch of the AGM notice is May 22, 2026. Mr. Sourabh Bapna has been appointed as the Scrutinizer for the e-voting process, and National Securities Depository Limited (NSDL) will facilitate the e-voting.

Madhya Bharat Agro Products Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26 to the National Stock Exchange of India Limited. The filing, made in compliance with Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, details the company's performance across environmental, social, and governance parameters. The report highlights the company's focus on sustainable fertilizer production and its commitment to reducing greenhouse gas emissions through strategic partnerships.

The company reported a total energy consumption of 340201.01 Giga Joules for FY26, compared to 278368.96 Giga Joules in the previous year. Energy intensity per rupee of turnover improved to 1.8222 from 2.6282 in FY25. Water withdrawal totaled 578633.61 kilolitres, with the company achieving zero liquid discharge across all campuses. The report disclosed total Scope 1 and Scope 2 emissions of 37378.76 metric tonnes of CO2 equivalent, with an emission intensity per rupee of turnover at 0.2002.

A significant development outlined in the report is the Green Ammonia Purchase Agreement signed with Solar Energy Corporation of India Limited (SECI). The agreement covers the procurement of 1,30,000 MT per annum of Green Ammonia for a period of 10 years under the Government of India's National Green Hydrogen Mission. This initiative aims to support the production of low-carbon and zero-carbon nitrogenous fertilizers, contributing to a reduction in GHG emissions.

Financial and Operational Metrics

The company's paid-up capital stands at ₹ 876269400. For the financial year ended March 31, 2026, the turnover was reported as 186698.03 Lacs, with a net worth of 54969.96 Lacs. The manufacturing operations include Single Super Phosphate (SSP), Nitrogen, phosphorus and potassium (NPK), and Di-ammonium Phosphate (DAP), which accounted for 53.56% of the total turnover.

Workforce and Governance

The company employed a total of 327 employees and 681 workers as of the end of the financial year. Women comprised 5.20% of the total workforce, with one woman director on the Board representing 12.50% of the Board strength. The Stakeholders' Relationship Committee, chaired by Mrs. Shruti Babel, oversees sustainability-related decision-making.

Training coverage on principles of the National Guidelines on Responsible Business Conduct (NGRBC) was 100% for the Board of Directors and Key Managerial Personnel. The report confirmed that no fines or penalties were paid during the financial year, and there were no reported cases of sexual harassment or discrimination at the workplace.