Jyotsna Poddar Acquires 3 Lakh Shares in Zuari Industries Through Inter-se Transfer

Zuari Industries Limited has disclosed that Jyotsna Poddar is set to acquire 3,00,000 shares, representing 1.01% of the company's share capital. The transaction involves an inter-se transfer from Akshay Poddar, structured as a gift between promoter relatives with no monetary consideration involved.

Transaction Details

The acquisition disclosure was filed on December 13, 2025, under Regulation 10 of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011. The proposed date of acquisition is on or after December 19, 2025.

Parameter	Details
Shares to be acquired	3,00,000
Percentage of share capital	1.01%
Transferor	Akshay Poddar
Consideration	No monetary consideration (gift)
Transaction type	Inter-se transfer among promoter relatives

Shareholding Pattern Changes

The transaction will result in significant changes to the shareholding pattern of both parties involved:

Shareholder	Before Transaction	After Transaction
Jyotsna Poddar	3,71,621 shares (1.24%)	6,71,621 shares (2.25%)
Akshay Poddar	3,20,384 shares (1.08%)	20,384 shares (0.07%)

Regulatory Compliance

The disclosure confirms that both parties are promoters of Zuari Industries Limited prior to the transaction. Jyotsna Poddar has declared compliance with all conditions specified under Regulation 10(1)(a) regarding exemptions from making an open offer.

The acquirer has also confirmed that disclosure requirements under Regulation 29 of the SAST Regulations have been made through system-driven disclosure, with separate copies of disclosure under Regulation 31(4) provided.

Additional Declarations

As part of the regulatory filing, both Jyotsna Poddar and Akshay Poddar have submitted declarations under Regulation 31(4) of SEBI SAST Regulations for multiple financial years. They have confirmed no encumbrance on company shares other than those already disclosed to stock exchanges and the company during the financial years ended March 31, 2023, 2024, and 2025.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.22%	+4.23%	-4.52%	+13.48%	-9.97%	+405.92%

Zuari Industries Limited (ZIL) has reported a robust performance for the second quarter, marked by significant improvements in ethanol production and financial metrics. The company's strategic focus on its sugar, ethanol, and real estate businesses continues to drive growth and operational efficiency.

Key Highlights

Ethanol production increased by 44% in Q2
EBITDA improved from INR 3.5 crores to INR 8.9 crores
Finance costs reduced by INR 3 crores
Sugar realization up by 5.7% year-on-year
Distillery achieved 311 operating days, the highest ever

Financial Performance

ZIL's financial results for Q2 demonstrate substantial improvements across key metrics:

Metric	Q2 FY26	Q2 FY25	Change
Revenue	204.50	207.40	-1.4%
EBITDA	8.90	3.50	+154.3%
PBT (before exceptional items)	18.60	0.40	+4550%
PAT	3.50	-23.90	Turned Profitable

The company's EBITDA margin improved significantly, driven by higher sugar realizations and increased power rates from UPPCL.

Operational Highlights

Sugar and Ethanol Business

Sugar sales volume decreased to 3.6 lakh quintals from 4.2 lakh quintals
Sugar realization improved to INR 4,033 per quintal from INR 3,815 per quintal
Ethanol production increased by 44%, with the distillery operating for a record 311 days
Ethanol sales volume up by 7.6% for the quarter

Real Estate

Zuari Infra World strengthened its position with a gross development value of INR 2,900 crores
The St. Regis Dubai project is 86% complete, with handover expected by March 2026

Strategic Developments

Debt Reduction Plan: ZIL expects an INR 800 crores cash inflow from its Dubai real estate project starting Q2 FY27, which will be used for debt reduction.
Bioethanol Expansion: The company is set to commission a 180 KLPD distillery through its joint venture, Zuari Envien Bioethanol Private Limited (ZEBPL).
Focus on Real Estate: ZIL is pursuing an asset-light approach in real estate, focusing on the Development Management (DM) model for growth.

Future Outlook

Zuari Industries remains optimistic about its core businesses:

Sugar and Ethanol: The company expects stable EBITDA margins of 10-12% in the sugar sector, despite recent increases in sugarcane prices.
Bioethanol: ZIL plans to expand its bioethanol capacity to 1,000 KLPD over the next 3-5 years, subject to regulatory environment and market dynamics.
Real Estate: The company aims to grow its DM business in the real estate sector, focusing on high-margin projects.

Athar Shahab, Managing Director of Zuari Industries, commented, "We are happy with the progress we have made. Our strategies are yielding results, particularly in improving the operational efficiency of our distillery and diversifying our real estate portfolio."

With a clear focus on debt reduction and strategic growth in its core sectors, Zuari Industries is positioning itself for sustained performance in the coming quarters.