BN Agrochem Limited has achieved a significant milestone in its amalgamation process by receiving an observation letter with 'no objection' from BSE Limited on March 04, 2026. The approval relates to the company's proposed scheme of amalgamation involving multiple entities under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Amalgamation Structure and Timeline

The scheme involves the amalgamation of three transferor companies with and into BN Agrochem Limited (formerly known as BN Holdings Limited). The company had previously submitted intimations regarding this amalgamation on June 28, 2025 and December 17, 2025.

Regulatory Compliance and Documentation

The observation letter from BSE has been made available on the company's website for stakeholder access. The approval comes with comprehensive guidelines and requirements that the company must fulfill during the amalgamation process. BSE has provided detailed observations based on SEBI's letter dated February 06, 2026, which includes specific compliance requirements.

Key regulatory requirements include:

• Obtaining No-objection letter from NSE under regulation 59A of LODR Regulations, 2015
• Disclosure of all ongoing adjudication and recovery proceedings against the company, promoters, and directors
• Compliance with SEBI circulars and transfer of all liabilities from transferor to transferee company
• Inclusion of unlisted company information in the format specified for abridged prospectus

Shareholding Pattern and Transparency Requirements

BSE has mandated prominent disclosure of shareholding pattern changes in all communications to public shareholders. The company must clearly present the impact of the scheme on promoter and public shareholding percentages, ensuring transparency in decision-making processes.

Next Steps and Validity

The scheme remains subject to various statutory and regulatory approvals from respective shareholders and creditors of all companies involved in the amalgamation, as required under Sections 230 to 232 of the Companies Act, 2013. The observation letter from BSE carries a validity period of six months from March 04, 2026, within which the scheme must be submitted to the National Company Law Tribunal (NCLT).

The company has fulfilled its obligation under Regulation 30 by informing BSE Limited about receiving the no-objection letter and making the documentation available to all stakeholders through proper channels.

BN Agrochem Limited and Synthiko Foils Limited have announced their unaudited financial results for the third quarter and nine months ended December 31, 2025, under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors of both companies approved these results during their respective meetings held on February 13, 2026 and February 12, 2026.

BN Agrochem Standalone Performance

BN Agrochem's standalone operations demonstrated a turnaround with improved profitability during the quarter. The company reported steady revenue generation with significant improvement compared to the previous year's corresponding period.

The standalone results reflect a remarkable turnaround from the loss of ₹501.73 lacs in Q3 FY25 to a profit of ₹74.76 lacs in Q3 FY26. The nine-month performance shows significant improvement with net profit of ₹1,891.88 lacs compared to a loss of ₹975.06 lacs in the corresponding previous period.

BN Agrochem Consolidated Performance

The consolidated results present a comprehensive view of the group's performance across different geographies and business segments.

The consolidated revenue from operations showed substantial growth from ₹8,521.77 lacs in Q3 FY25 to ₹19,211.90 lacs in Q3 FY26. Despite the quarterly loss, the nine-month consolidated performance remained strong with net profit of ₹3,122.30 lacs.

Synthiko Foils Limited Results

Synthiko Foils Limited, with CIN L27200PN1984PLC248366, reported its unaudited standalone and consolidated financial results. The company's Board of Directors approved these results on February 12, 2026.

Capital Structure and Regulatory Compliance

BN Agrochem maintains a robust capital structure with paid-up equity share capital of ₹9,777.29 lacs on standalone basis and ₹8,777.29 lacs on consolidated basis. Other equity stands at ₹22,499.57 lacs and ₹34,463.84 lacs respectively as of December 31, 2025.

Both companies' financial results have been reviewed by their respective Audit Committees and received unmodified opinions from statutory auditors. BN Agrochem's results were audited by JSMG & Associates, while Synthiko Foils' results were reviewed by Mehra Goel & Co. The results are available on respective company websites and BSE Limited's website for public access.