Jaysynth Orgochem Limited , formerly known as JD Orgochem Limited, has submitted its amended and updated Memorandum of Association to the Bombay Stock Exchange (BSE), marking a significant milestone in its recent corporate restructuring process.

Key Developments

1. Name Change: The company's new name, Jaysynth Orgochem Limited, became effective on July 3, 2024.

2. Capital Structure: The authorized share capital has been increased to Rs. 78 crores, structured as follows:

   Share Type	Number of Shares	Face Value
   Equity Shares	15 crore	Re. 1 each
   Preference Shares	63 crore	Re. 1 each

3. Capital Increase: The authorized capital has been raised from the previous Rs. 30 crores, representing a significant expansion in the company's capital base.

Corporate Restructuring

The capital increase and name change are part of a comprehensive corporate restructuring approved by the National Company Law Tribunal (NCLT), Mumbai Bench, on April 17, 2024. The restructuring involved:

• Capital reduction
• Reserve reorganization
• Amalgamation of Jaysynth Dyestuff (India) Limited and Jaysynth Impex Private Limited with the company

Business Focus

Jaysynth Orgochem Limited's main business activities include:

• Manufacturing and processing of dyes, dye intermediates, and auxiliaries
• Production of pigments and digital printing inks
• Import and export operations related to these products

This update reflects the company's efforts to streamline its operations and potentially position itself for future growth in the chemical and dye industry sectors.

Regulatory Compliance

The filing of the updated Memorandum of Association with BSE demonstrates the company's commitment to regulatory compliance and transparency. This document outlines the company's revised structure, objectives, and capital composition, providing stakeholders with crucial information about the organization's current status and future direction.

The corporate actions undertaken by Jaysynth Orgochem Limited, including the name change and capital restructuring, may signal a new phase in the company's development strategy. Investors and market observers will likely be watching closely to see how these changes translate into operational and financial performance in the coming quarters.

Jaysynth Orgochem Limited , a leading player in the colorants and chemicals industry, has announced its financial results for the first quarter. The company reported a mixed performance, with revenue growth accompanied by a decline in profitability.

Standalone Performance

On a standalone basis, Jaysynth Orgochem saw its revenue from operations increase to Rs 5,777.17 crore, up from Rs 4,985.27 crore in the same quarter of the previous year, marking a growth of 15.88%. However, the company's profit after tax (PAT) decreased to Rs 185.94 crore from Rs 255.41 crore year-over-year, representing a decline of 27.20%.

Consolidated Results

The consolidated financial results painted a similar picture. Revenue from operations grew to Rs 5,900.84 crore from Rs 5,036.94 crore in the corresponding quarter last year, showing an increase of 17.15%. Despite the revenue growth, the consolidated profit after tax declined to Rs 171.80 crore from Rs 286.07 crore, a decrease of 39.94%.

Segment Performance

Jaysynth Orgochem operates in two primary segments:

1. Colorants & Chemicals: This segment includes dyestuffs, digital ink, textile auxiliaries, and pigments.
2. Inkjet Printers: A relatively new addition to the company's portfolio.

The Colorants & Chemicals segment remained the primary revenue driver, while the Inkjet Printers segment showed promising growth.

Financial Highlights

Corporate Developments

In addition to the financial results, Jaysynth Orgochem's Board of Directors made several key decisions in their recent meeting:

1. Appointment of Secretarial Auditors: The Board approved the appointment of M/s. KDA & Associates, Practicing Company Secretaries, as Secretarial Auditors for a term of five consecutive financial years. This appointment is subject to shareholder approval at the upcoming 51st Annual General Meeting.

2. Approval of Board's Report: The Board approved the Board's Report for the previous financial year.

3. AGM Notice: The Board approved the notice for the 51st Annual General Meeting of the company.

4. Scrutinizer Appointment: M/s. KDA & Associates were also appointed as Scrutinizers for the upcoming AGM.

These decisions reflect Jaysynth Orgochem's commitment to maintaining strong corporate governance practices and transparency in its operations.

While the company has shown robust revenue growth, the decline in profitability may be a point of concern for investors. The management may need to focus on cost optimization and improving operational efficiency to boost bottom-line performance in the coming quarters.