Valiant Organics cancels postal ballot for RPT approval

Valiant Organics Limited has decided not to proceed with a transaction regarding its cessation as a partner of Dhanvallabh Ventures LLP, leading to the cancellation of the related postal ballot process. The Board of Directors, acting on the recommendation of the Audit Committee and management submissions, resolved to halt the material related party transaction for the time being. Consequently, the electronic voting process initiated for this purpose has been withdrawn.

The postal ballot process, including the Electronic Voting Event Number (EVEN) 139390, stands cancelled with immediate effect. This decision was taken during a Board meeting held on June 18, 2026, which commenced at 4.25 P.M. (IST) and concluded at 5.05 P.M. (IST). The company stated that further updates will be provided as the Board deliberates on the matter.

Transaction Details

The filing pertains to a specific material related party transaction that required shareholder approval via postal ballot. The following table outlines the key details of the cancelled process:

Particulars	Details
Transaction Type	Cessation as partner of Dhanvallabh Ventures LLP
Process Status	Cancelled
Electronic Voting Event Number	139390
Board Meeting Date	June 18, 2026

The decision to withdraw the process was based on an evaluation of the facts and circumstances presented by the management. The company will notify the exchanges of any future developments regarding this transaction.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-6.36%	+9.44%	-3.64%	+12.40%	-33.94%	-80.62%

Valiant Organics Limited filed an investor presentation for the quarter and year ended March 31, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company reported a return to profitability in FY26 with a Profit After Tax (PAT) of INR 332 million compared to a net loss of INR 34 million in the previous year. The turnaround was driven by focused operational execution and structural cost optimization initiatives, which led to an EBITDA margin expansion of 447 basis points to 11.94%.

Operational revenue for FY26 increased by 2.8% year-on-year to INR 7,388 million, supported by stable demand and improved realizations across key product categories. The company’s financial performance improved significantly in the fourth quarter, with operational revenue rising 36.7% quarter-on-quarter to INR 2,178 million. PAT for Q4-FY26 reached INR 157 million, while the EBITDA margin for the quarter stood at 12.17%.

Consolidated Financial Performance

The annual results show a robust recovery across key profitability metrics. EBITDA for FY26 surged 64.2% to INR 882 million from INR 537 million in FY25. The company’s PAT margin improved to 4.49% from a negative 0.47% in the prior year. Basic and Diluted EPS for FY26 was reported at INR 11.86 per share, compared to INR (1.24) per share in FY25.

Particulars (INR Mn)	FY26	FY25	Y-o-Y
Revenue from Operations	7,388	7,188	2.8%
EBITDA	882	537	64.2%
EBITDA Margins (%)	11.94%	7.47%	447 Bps
PAT	332	(34)	NA
PAT Margins (%)	4.49%	(0.47)%	496 Bps

Segment and Operational Highlights

Revenue contributions were led by the Hydrogenation chemistry segment, which accounted for 48% of total sales, followed by Ammonolysis at 26% and Chlorination at 20%. By end-user industry, Dyes & Pigments represented the largest segment at 45%, followed by Agro Chemicals at 24% and Pharmaceuticals at 21%. The company operates six manufacturing units across five locations with a total production capacity of 70,000 TPA.

Balance Sheet and Ratios

The company’s net worth stood at INR 5,882 million as of March 31, 2026, while the net debt to equity ratio remained stable at 0.33x. Return on Capital Employed (ROCE) improved to 5.52% in FY26 from 2.72% in the previous year, and Return on Equity (ROE) turned positive at 4.37% compared to (0.47)% in FY25.