CM Airtime Promotion LLP has announced another strategic acquisition in Chambal Fertilisers & Chemicals Ltd, purchasing an additional 67,722 equity shares through open market operations. This latest transaction, completed on March 9, 2026, marks the third acquisition by the promoter group entity within a week, demonstrating sustained confidence in the fertilizer company's prospects.

Latest Transaction Details

The recent acquisition represents continued investment by the promoter group entity following previous purchases on March 4 and March 5, 2026. The transaction was executed through open market operations and disclosed under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011.

Updated Shareholding Pattern

Following this latest acquisition, CM Airtime Promotion LLP's total shareholding in Chambal Fertilisers & Chemicals Ltd has reached 2,012,552 shares, representing 0.502% of the company's equity capital. The LLP's stake has grown significantly over the recent acquisition spree.

Acquisition Impact Analysis

The combined acquisitions across multiple trading days totaling 362,722 shares represent a substantial increase in the promoter group's commitment to the company. The percentage holding has increased by 0.090% from the pre-acquisition level of March 3, 2026.

Company Information

Chambal Fertilisers & Chemicals Ltd maintains its equity share capital at Rs 4,00,65,22,970, comprising 400,652,297 equity shares. The company's shares are listed on both BSE Limited and National Stock Exchange of India Limited, providing liquidity for such open market transactions.

Regulatory Compliance

The disclosure was made in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011. CM Airtime Promotion LLP, registered with LLP Identification Number AAE-6579, maintains its registered office at Mezzanine Floor, Hindustan Times House, 18-20, Kasturba Gandhi Marg, New Delhi-110001.

The series of acquisitions reflects the promoter group's strategic approach to increasing their stake in the fertilizer company, with all transactions conducted transparently through established market mechanisms and proper regulatory disclosure procedures.

Chambal Fertilisers & Chemicals Limited has received an Income Tax penalty order of Rs 1,35,24,064 from the Assessment Unit of the Income Tax Department. The company disclosed this development through a regulatory filing under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Penalty Details and Background

The penalty has been imposed under Section 270A of the Income Tax Act, 1961, for an alleged wrong claim of education cess deduction in the company's income tax return for Assessment Year 2020-21. The order was received by the company on March 6, 2026.

Legal Basis for Original Claim

The company's original deduction claim was based on a favorable ruling from the Rajasthan High Court, Jaipur Bench, in its own case. In Appeal No. 52/2018 for Assessment Year 2009-10, decided on July 31, 2018, the court held that Education Cess and Secondary & Higher Education Cess paid along with income tax does not fall within the ambit of "tax" under Section 40(a)(ii) of the Income Tax Act, 1961, and is therefore allowable as deduction.

Retrospective Amendment Impact

The Finance Act, 2022 introduced a retrospective amendment that reversed the aforementioned court ruling. Following this legislative change, Chambal Fertilisers surrendered its claim for deduction of Education Cess and Secondary & Higher Education Cess and paid the applicable tax amount.

Company's Response and Financial Impact

The company has stated that there is no impact on its financial, operational, or other activities, except for the penalty amount mentioned above. Chambal Fertilisers believes it has a strong case to contest the penalty order on merits and has indicated its intention to challenge the same at the appropriate appellate forum.

Regulatory Compliance

This disclosure was made in compliance with SEBI regulations, ensuring transparency with stakeholders regarding material developments that could affect the company's operations or financial position.