India Gelatine & Chemicals Limited (IGCL) has received approval from the Bombay Stock Exchange (BSE) to reclassify three entities from the 'Promoter' category to the 'Public' category. This development marks a significant change in the company's shareholding structure.

Reclassification Details

The BSE conveyed its no objection through a letter dated September 17, 2025, following the company's earlier intimation from June 12, 2025. The reclassified entities are:

1. Viren Chandrasinh Mirani
2. Shefali Viren Mirani
3. Olive Speciality Services LLP

Notably, all three entities hold zero shareholding in the company at the time of reclassification.

Regulatory Compliance

The reclassification is in accordance with Regulation 31A(10) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation governs the process of reclassifying promoters as public shareholders.

Company's Disclosure

In compliance with regulatory requirements, India Gelatine & Chemicals Limited promptly disclosed this information to the stock exchange. Sejal Shah, the Company Secretary & Compliance Officer, signed the official communication to the BSE on September 18, 2025.

Impact on Shareholding Structure

While the reclassification doesn't involve any transfer of shares, it represents a change in how these entities are categorized within the company's shareholding structure. This move could potentially impact the company's promoter holding percentage and public float.

About India Gelatine & Chemicals Limited

India Gelatine & Chemicals Limited, with its corporate office in Mumbai and registered office in Ahmedabad, operates under the CIN: L99999GJ1973PLC002260.

India Gelatine & Chemicals has reported a significant increase in its first-quarter profits, alongside key corporate governance updates. The company, which operates in the chemical business segment, has demonstrated strong financial performance despite a decline in revenue.

Financial Highlights

The company reported a profit after tax of ₹708.17 lakhs for the quarter, marking a substantial 40.6% increase from ₹503.85 lakhs in the same quarter last year. This impressive growth in profitability came despite a 22% year-on-year decline in revenue from operations, which stood at ₹3,909.65 lakhs compared to ₹5,009.47 lakhs in the previous year.

The company's financial results for the quarter are summarized in the table below:

The total comprehensive income for the period reached ₹740.95 lakhs, up from ₹485.20 lakhs in the previous year's quarter, representing a 52.7% increase. Basic earnings per share (EPS) also saw a significant rise to ₹9.99 from ₹7.10 year-on-year.

Corporate Updates

In addition to the financial results, India Gelatine & Chemicals' Board of Directors approved several key corporate decisions during their recent meeting:

1. Appointment of New Company Secretary: The Board approved the appointment of Ms. Sejal Anup Shah as the Company Secretary & Compliance Officer, effective September 3. Ms. Shah, a qualified Company Secretary (Membership No. A55588), brings over seven years of experience in corporate governance, legal compliance, and regulatory affairs within listed companies.

2. Annual General Meeting: The 53rd Annual General Meeting of the company is scheduled for Wednesday, September 24, at 11:00 a.m. through Video Conferencing (VC) or Other Audio-Visual Means (OAVM).

3. Dividend and E-voting: The Board has fixed September 16 as the cut-off date for dividend payment and to determine member eligibility for e-voting at the AGM. Remote e-voting will be available from September 20 to September 23.

These corporate actions reflect the company's commitment to maintaining strong governance practices and shareholder engagement.

The unaudited financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors. The statutory auditors have completed the limited review as required under SEBI regulations.

India Gelatine & Chemicals continues to operate in a single segment under the chemical business, as stated in their financial disclosures. The company's ability to significantly improve profitability despite reduced revenue demonstrates effective cost management and operational efficiency in a challenging market environment.