NGL Fine Chem has submitted the voting results and scrutinizer’s report for its 45th annual general meeting to BSE and NSE. The company confirmed that all resolutions, including the adoption of FY26 financials and director re-appointments, were passed with requisite majority.

The AGM was held on Tuesday, August 25, 2026, via video conferencing. As per the filing dated August 27, 2026, a total of 13,525 shareholders were on record as of August 18, 2026. Of these, 42 shareholders attended the meeting virtually: three from the promoter group and 39 from the public category.

Voting Participation

The total shares held by eligible voters stood at 6,178,024. Voting activity varied significantly between promoter and public shareholders across different resolutions.

Promoter participation was highest for the adoption of financial statements and dividend declaration, where they cast votes on 99.98% of their holdings. Participation dropped to approximately 69.8% for the re-appointment of Mr. Rajesh Lawande as Whole-Time Director, as he abstained from voting due to interest.

Resolution Outcomes

All six resolutions placed before the shareholders were approved. The key outcomes include:

• Adoption of Financials: Passed unanimously with 4,522,979 votes in favour and zero against.
• Final Dividend: Approved with 4,522,974 votes in favour. Five votes were cast against.
• Re-appointment of Directors: Mr. Rajesh Lawande (Whole-Time Director) and Mrs. Sarala Menon (Independent Director) were re-appointed. Both resolutions received over 99.9% support from voting shareholders.
• Cost Auditor Remuneration: Ratified with 4,522,967 votes in favour.

Mr. Rajesh Lawande abstained from voting on resolutions concerning his own appointment, as required by regulations. Consequently, the promoter group’s vote count for these specific items reflected only the non-interested promoter shares.

Scrutinizer’s Report

M/s. HSPN & Associates LLP served as the scrutinizer for the e-voting process. The report, dated August 26, 2026, confirmed that the remote e-voting facility provided by Purva Sharegistry India Pvt Ltd functioned correctly between August 22 and August 24, 2026. No invalid votes were recorded for any resolution. The statutory auditors’ report and secretarial audit report contained no qualifications or adverse remarks.

NGL Fine Chem Limited delivered a strong financial turnaround in the first quarter of FY27, reporting a net profit of ₹18.40 crore, a significant improvement from the ₹13.49 crore profit in Q4FY26 and a sharp contrast to the ₹4.5 crore loss recorded in the corresponding quarter of the previous fiscal year. The company’s revenue from operations grew 33.57% year-on-year to ₹139.16 crore, though it declined slightly by 6.75% quarter-on-quarter from ₹149.23 crore. This performance underscores the sustained demand momentum across its animal health product segments, as noted by Managing Director Rahul Nachane.

Financial Performance

The company’s operational efficiency improved notably, with EBITDA rising 8.76% quarter-on-quarter to ₹23.29 crore and surging 112.21% year-on-year. Consequently, the EBITDA margin expanded by 239 basis points to 16.73% in Q1FY27, compared to 14.35% in Q4FY26. Total income for the quarter stood at ₹146.59 crore, driven by operating revenue and other income, which increased 202.05% quarter-on-quarter to ₹7.43 crore.

Finance costs remained controlled at ₹0.99 crore, down slightly from ₹1.01 crore in the previous quarter. Depreciation and amortisation expenses increased to ₹5.25 crore from ₹5.05 crore. Profit before tax jumped 37.41% quarter-on-quarter to ₹24.48 crore.

What the Numbers Show

A critical driver of the profitability surge was non-operational income. The company recorded a ₹2.5 crore forex gain in Q1FY27, reversing the ₹4.5 crore mark-to-market forex provision that weighed on Q4FY26 results. Additionally, management highlighted that part of the margin improvement is attributable to inventory gains arising from price increases during the period. With other income contributing significantly to total income, investors should note that these mark-to-market movements are volatile and may not recur at similar magnitudes.

Balance Sheet and Cash Flow

As of FY26, NGL Fine Chem’s total equity and liabilities stood at ₹545.50 crore, with shareholders’ fund increasing to ₹329.23 crore from ₹282.43 crore in FY25. Long-term borrowings rose to ₹56.40 crore from ₹25.34 crore, reflecting ongoing capital expenditure. Trade receivables increased substantially to ₹130.88 crore from ₹82.84 crore in FY25, while inventories grew to ₹70.28 crore. Cash and bank balances remained stable at ₹5.11 crore.

Cash flow from operating activities improved to ₹43.32 crore in FY26 from ₹32.36 crore in FY25. However, cash flow from investing activities remained negative at (₹70.59 crore), primarily due to capex outlays. Net cash flow for FY26 was ₹2.27 crore.

Strategic Outlook

Management confirmed that the Phase II expansion project remains on schedule, with commissioning expected during the current quarter. The total project cost and scope remain unchanged, with commercial production slated to commence in H2FY27. This incremental capacity aims to support growth plans and address emerging opportunities in existing and new markets.

Segment-wise, Animal API continued to dominate revenue mix, accounting for 95% of sales in Q1FY27, consistent with Q4FY26. Geographically, Asia remained the largest market at 40% share, followed by Rest of World at 30% and India at 20%.