NGL Fine-Chem Limited reported a consolidated net profit of ₹48.13 crore for FY26, marking a 128% year-on-year increase from ₹21.12 crore in FY25. The pharmaceutical manufacturer achieved this growth on the back of a 36% rise in revenue from operations to ₹500.95 crore, supported by volume-led recovery across key markets including Latin America and Europe. Shareholders will vote on these results and a recommended final dividend of ₹1.75 per equity share at the 45th Annual General Meeting scheduled for August 25, 2026.

The company’s operational performance strengthened significantly during the year, with EBITDA more than doubling to ₹72.69 crore, reflecting an improved margin of 14.51% compared to 9.2% in the previous year. This profitability expansion was driven by higher capacity utilization, improved manufacturing efficiencies, and stronger cost absorption. Total income rose to ₹515.68 crore, while profit before tax increased by approximately 129% to ₹63.37 crore. Finance costs stood at ₹4.47 crore and depreciation at ₹19.58 crore, reflecting the larger asset base following recent investments.

Financial Performance and Operational Recovery

The recovery in financial metrics was consistent throughout FY26, with more pronounced improvements in the second half due to sustained volume growth. While elevated freight costs and currency volatility posed headwinds, the company secured partial price pass-throughs towards the end of the year. The balance sheet remained robust, with shareholders’ funds increasing to ₹329.23 crore. Total borrowings rose to ₹108.42 crore to fund expansion programs, maintaining a prudent debt-equity ratio of 0.33. Cash flow from operating activities was ₹43.32 crore, offsetting ₹70.59 crore used in investing activities primarily for the Tarapur greenfield project.

*Note: FY25 EBITDA derived from margin application for context; source states EBITDA more than doubled.

Corporate Governance and Dividend Proposal

The Board of Directors, meeting on May 21, 2026, recommended a final dividend of ₹1.75 per fully paid-up equity share, aggregating to ₹108.12 lakh. This dividend is subject to shareholder approval at the AGM. The record date for dividend entitlement is August 18, 2026, with the register of members closed from August 19 to August 25, 2026. The AGM will be conducted via Video Conferencing (VC) or Other Audio-Visual Means (OAVM), allowing remote participation and e-voting through Purva Sharegistry (India) Private Limited.

Strategic Outlook and Expansion

NGL Fine-Chem continues to strengthen its position in the veterinary API segment, serving over 430 customers across 55 countries. The company’s ongoing capital expenditure program, particularly the greenfield expansion at Tarapur, is targeted for commissioning in Q2FY27. Management expects commercial production from new facilities to begin in the second half of the following financial year, supporting future growth. With a diversified product portfolio and advancing regulatory pipeline, including CEP approvals and US FDA registrations, the company is positioned to capitalize on the structural shift in global sourcing towards India.

What the Numbers Show

The divergence between revenue growth (36%) and net profit growth (128%) highlights significant operating leverage achieved by NGL Fine-Chem in FY26. The nearly 530 basis point expansion in EBITDA margins indicates that volume growth was not merely offset by input costs but actively converted into higher profitability through efficiency gains. This suggests that the company’s backward integration and process chemistry expertise are yielding tangible financial benefits, reducing reliance on pure volume scaling for profit generation.

The promoters of NGL Fine-Chem Limited have confirmed that they did not create any encumbrance, directly or indirectly, on the shares held by them in the company during the financial year ended March 31, 2026. This disclosure ensures that the shareholding of the promoters remains free from charges or pledges, which is critical for shareholder confidence regarding ownership stability. The confirmation was submitted to the company's Audit Committee in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The filing detailed the shareholding patterns of the promoters, members of the promoter group, and persons acting in concert as of March 31, 2026. The declaration was signed by Rajesh Lawande on behalf of the promoters, promoter group, and persons acting in concert. The document was addressed to the Audit Committee and the stock exchanges, BSE Limited and National Stock Exchange of India Limited, to ensure the information was placed on public record.

Promoter Shareholding Details

The disclosure provides a breakdown of the shares held by various promoter entities and individuals. The data highlights the concentration of ownership among key individuals and a corporate entity within the promoter group.

Rajesh Narayan Lawande holds the largest individual stake among the promoters with 1,352,366 shares, representing a 21.89% shareholding. Rahul Jayant Nachane follows with 1,083,450 shares, accounting for 17.54% of the total share capital. Other key stakeholders include Sunita Sandeep Potdar and Ajita Rahul Nachane, holding 13.38% and 11.55% respectively. PCI Ferrmone Chemicals India Private Limited holds 8.38% of the shares, while Pushpa Lawande holds no shares in the company.