Ganga Pharmaceuticals Limited , a company specializing in Ayurvedic products, has released its unaudited financial results for the half-year ended September 30, 2025. The company reported a decrease in both revenue and profit compared to the same period last year.

Financial Performance

The company's financial performance for the first half of FY2026 shows a significant decline in key metrics:

The revenue from operations saw a sharp decline of 48.19% year-over-year, dropping from Rs. 263.74 lakhs in H1 FY2025 to Rs. 136.65 lakhs in H1 FY2026. The total income, which includes other income, decreased by 5.59% to Rs. 151.45 lakhs.

Net profit for the period fell by 68.61%, from Rs. 7.90 lakhs in the previous year to Rs. 2.48 lakhs in the current half-year. Consequently, the basic earnings per share (EPS) decreased from Rs. 0.16 to Rs. 0.04.

Warrant Conversion and Capital Structure

During the reporting period, Ganga Pharmaceuticals made significant changes to its capital structure:

• The company converted 10,75,000 warrants into equity shares, raising Rs. 112.88 lakhs.
• Each warrant was converted at Rs. 14 per share (Rs. 10 face value + Rs. 4 premium).
• The paid-up equity share capital increased to Rs. 591.15 lakhs following this conversion.
• Out of the funds raised, Rs. 53.48 lakhs has been utilized for stated purposes, with the balance kept in bank accounts.
• The remaining 7,00,000 warrants were forfeited as warrant holders did not remit the balance consideration within the prescribed time.

Operational Highlights

• The company operates in a single business segment: Ayurveda Business.
• The financial results were reviewed by the Audit Committee and approved by the Board of Directors on November 7, 2025.
• The company's auditors, Banka & Banka Chartered Accountants, conducted a limited review of the financial results and found no material misstatements.

Balance Sheet Overview

As of September 30, 2025, Ganga Pharmaceuticals reported:

• Total assets of Rs. 1,016.21 lakhs, up from Rs. 897.21 lakhs as of March 31, 2025.
• Shareholders' funds increased to Rs. 828.50 lakhs from Rs. 713.14 lakhs.
• Current liabilities stood at Rs. 157.13 lakhs, compared to Rs. 160.31 lakhs at the end of the previous fiscal year.

While the company has strengthened its balance sheet through the warrant conversion, the decline in revenue and profit may be a cause for concern. Investors and stakeholders will likely be watching closely to see how Ganga Pharmaceuticals plans to address these challenges and improve its financial performance in the coming quarters.

Ganga Pharmaceuticals Ltd has seen a significant change in its shareholding structure as Plutus Capital Management LLP acquired a substantial stake in the company. The investment firm secured a 7.75% stake through the conversion of convertible warrants into equity shares.

Transaction Details

On July 17, Plutus Capital Management LLP converted its warrants into 375,000 equity shares of Ganga Pharmaceuticals Ltd. This transaction marked Plutus Capital's entry into the company's shareholding structure, as they held no shares prior to this acquisition.

Impact on Share Capital

The warrant conversion has led to a notable increase in Ganga Pharmaceuticals' total equity share capital:

Shareholding Structure

• Plutus Capital Management LLP now holds 375,000 shares, representing 7.75% of the total share capital and 6.34% of the diluted share capital.
• The acquisition was made through preferential allotment, as confirmed by the LODR disclosure.
• Plutus Capital Management is not part of the promoter group of Ganga Pharmaceuticals Ltd.

Regulatory Compliance

The transaction was reported in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Plutus Capital Management LLP submitted the required disclosure to BSE Limited on July 31.

Company Information

Ganga Pharmaceuticals Ltd is listed on the BSE Limited under the scrip code 539680. The company's registered office is located at Gangatat, Dhanvantri Marg, Gopcharpada, Virar (E), Palghar, Maharashtra, 401305.