Regaal Resources Limited has secured in-principle approval from the National Stock Exchange of India (NSE) and BSE Limited to list up to 8,64,000 equity shares issued under its Employee Stock Option Plan 2024. The shares, carrying a face value of ₹5 each, will be listed as and when employees exercise their options, subject to the fulfillment of specific regulatory conditions. This move facilitates liquidity for employees participating in the company's stock option scheme.

The NSE issued its approval via letter reference NSE/LIST/54397 on June 18, 2026, while the BSE granted its nod through reference DCS/ESOP/IP/RD/124/2026-27 on the same date. The approvals cover the listing of a maximum of 8,64,000 equity shares proposed to be allotted to eligible employees upon the exercise of options under the Regaal Resources Limited Employee Stock Option Plan 2024.

Both exchanges have outlined several conditions that the company must satisfy before the shares are formally listed and trading commences. These include notifying the exchanges under Regulation 10(c) of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, only after the shares are allotted and credited to the beneficiaries' accounts or share certificates are dispatched. The company must also secure necessary statutory approvals from authorities such as SEBI, RBI, and the Ministry of Corporate Affairs (MCA).

Additionally, Regaal Resources is required to comply with all guidelines, regulations, and directions issued by the exchanges and statutory authorities. This includes adherence to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013. The exchanges have reserved the right to withdraw the in-principle approval if any information provided is found to be incomplete, incorrect, or misleading.

The company must submit a set of documents to the exchanges, including a certified true copy of the statement under Regulation 10(c), confirmation of credit to depository accounts, and a board resolution for the allotment of shares. A list of allottees and details of employees receiving shares in excess of 1% of the share capital are also required to be disclosed.

Key Details of the Approval

The final listing and trading permission will be granted by the exchanges upon receipt of the notification under Regulation 10(c) and compliance with the stipulated conditions.

Regaal Resources Limited reported an operating income of ₹1,134.2 crores for the financial year ended March 31, 2026, with a Profit After Tax (PAT) of ₹55.6 crores and a margin of 4.9%. The company's Board has recommended a dividend of ₹0.25 per share, subject to shareholder approval. This performance was accompanied by the commissioning of a significant manufacturing expansion on May 26, 2026, scaling crushing capacity to 1,650 tons per day (TPD).

Financial Performance

For the full year FY26, operating income grew by 23.9% year-on-year to ₹1,134.2 crores. Value-added products increased by 18% to ₹295.8 crores. Operating EBITDA stood at ₹126.6 crores with a margin of 11.2%, while PAT was ₹55.6 crores. In Q4 FY26, operating income was ₹244.6 crores, with an operating EBITDA of ₹32.5 crores and a PAT of ₹16.5 crores.

Expansion and Capacity

The company successfully commissioned an expansion on May 26, 2026, increasing its crushing capacity to 1,650 TPD. This includes new facilities for liquid glucose (180 TPD) and maltodextrin powder (50 TPD). The captive co-generation power plant capacity was expanded by 10 MW, bringing the total to 15.8 MW. The total capex outlay for the project was revised upwards to approximately ₹540 crores, with ₹401 crores spent by March 31, 2026, and the balance ₹140 crores expected in FY27.

Strategic Outlook

Management stated that the facility will progressively ramp up to optimal operating levels over the coming weeks. The company is expanding its value-added portfolio to include dextrose anhydrous, dextrose monohydrate, hydrol, and modified starches. The net debt-equity ratio improved to 1.1x from 1.9x in FY25, and the cash conversion cycle improved to 50 days from 93 days in the previous year. The company deferred providing a formal earnings outlook until the end of H1 FY27 to allow for stabilized operations.