Mehul Colours Limited has filed a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following an increase in promoter group shareholding. The company submitted the regulatory disclosure on March 19, 2026, to BSE Limited regarding equity share purchases by its promoter and managing director.

Regulatory Filing Details

The disclosure was filed by Bhakti Mehul Joshi, Whole-time Director, on behalf of Mehul Colours Limited. The company received the original disclosure on March 18, 2026, from Mr. Mehul Pravinchandra Joshi, the promoter and managing director, regarding his equity share purchase activities.

Share Acquisition Summary

The promoter group, led by Mehul Pravinchandra Joshi, acquired 2,41,600 equity shares representing 2.29% of the company's total share capital through open market transactions. The regulatory threshold was exceeded on March 16, 2026, triggering the mandatory disclosure requirement.

Shareholding Pattern Changes

The acquisition resulted in a significant increase in the promoter group's stake in Mehul Colours Limited. The group's holding expanded from 73,04,036 shares to 75,45,636 shares, representing an increase from 69.24% to 71.53% of the total voting capital.

Promoter Group Structure

The acquisition involves Mehul Pravinchandra Joshi as the primary acquirer, supported by persons acting in concert including Bhakti Mehul Joshi, Usha Pravinchandra Joshi, and Late Pravinchandra Girdharlal Joshi. The company's equity share capital remains unchanged at INR 10,54,90,400.00, divided into 1,05,49,040 equity shares of INR 10.00 each.

Mehul Colours Limited, formerly known as Mehul Colours and Masterbatches Private Limited, operates in the masterbatches, additives, and compounds sector. The company maintains its registered office in Mumbai, Maharashtra, with manufacturing facilities in Vasai East, Palghar district.

Mehul Colours Limited , a leading manufacturer of masterbatches, has announced its unaudited standalone financial results for the half-year ended September 30, 2025, along with several key board decisions. The company, which recently listed on the BSE SME platform, has shown robust performance and made strategic moves to strengthen its governance structure.

Financial Highlights

For the half-year ended September 30, 2025, Mehul Colours Limited reported:

The company's total income saw a significant increase of 17.08% compared to the same period last year, rising from INR 1,246.30 lakhs to INR 1,459.14 lakhs. Net profit also showed strong growth, increasing by 11.76% from INR 294.64 lakhs to INR 329.29 lakhs.

Balance Sheet Strength

As of September 30, 2025, Mehul Colours Limited's balance sheet reflects a robust financial position:

• Total Assets: INR 4,465.74 lakhs
• Shareholders' Funds: INR 3,919.96 lakhs
• Cash and Bank Balance: INR 75.56 lakhs

IPO Proceeds Utilization

The Board of Directors has adopted a statement regarding the utilization of IPO proceeds. Out of the total INR 2,165.76 lakhs raised:

• INR 281.15 lakhs were utilized for issue-related expenses
• INR 1,884.61 lakhs remain unutilized and are temporarily invested in liquid mutual funds pending deployment

Key Appointments

The Board has approved two significant appointments:

1. M/s. N A Jain Associates as Internal Auditors for FY 2025-26 and FY 2026-27
2. M/s H. Roshan Associates as Secretarial Auditors for the same period

Management Commentary

Mehul Pravinchandra Joshi, Managing Director of Mehul Colours Limited, stated, "Our half-year results demonstrate the company's resilience and growth potential. We are particularly pleased with the strong revenue growth and improved profitability. The strategic appointments we've made will further strengthen our governance framework as we continue to focus on creating value for our shareholders."

Future Outlook

With a strong financial performance, strategic utilization of IPO proceeds, and enhanced governance structure, Mehul Colours Limited appears well-positioned for continued growth. The company's focus on the masterbatches segment, coupled with its recent listing on the BSE SME platform, provides a solid foundation for expansion in the coming years.