Panama Petrochem promoter Amin Amirali Rayani has submitted prior intimation to the Bombay Stock Exchange and National Stock Exchange regarding his proposed acquisition of equity shares in the company. The filing, dated February 17, 2026, outlines plans for a substantial share acquisition through an inter-family gift transfer under SEBI regulations.

Transaction Details

The proposed acquisition involves the transfer of 15.36 lakh equity shares from Amirali Essabhai Rayani to his son, Amin Amirali Rayani. This transaction is structured as a gift transfer between immediate relatives, scheduled to occur on or after February 25, 2026.

Shareholding Impact

The transaction will significantly alter the shareholding pattern between the father-son duo within the promoter group. Amin Amirali Rayani's stake will increase substantially, while Amirali Essabhai Rayani will completely divest his direct shareholding.

Regulatory Compliance

The transaction falls under Regulation 10(1)(a)(i) of SEBI Substantial Acquisition of Shares and Takeovers Regulations, 2011, which provides exemption from mandatory open offer requirements for inter-se transfers among immediate relatives. Since the acquisition is structured as a gift without monetary consideration, volume weighted average market price calculations are not applicable.

The filing includes comprehensive disclosures of the entire promoter and promoter group shareholding, covering 21 entities including individual promoters and promoter group companies. Key promoter group entities include Ittefaq Ice And Cold Storage Company Private Limited holding 7.60% and Panama Builders Developers Pvt Ltd holding 4.66% of the company's share capital.

Corporate Structure

Both parties to the transaction are established members of Panama Petrochem's promoter group. Amin Amirali Rayani, already classified as a promoter group member, will strengthen his position within the company's ownership structure through this acquisition. The transfer represents a strategic consolidation of shareholding within the Rayani family, maintaining concentrated promoter control while redistributing stakes among family members.

Panama Petrochem Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025. The specialty petroleum products company reported mixed performance across its standalone and consolidated operations, with revenue growth accompanied by varying profit margins.

Standalone Financial Performance

The company's standalone operations demonstrated solid revenue growth during the third quarter of FY26. Key financial metrics for the quarter show improved performance compared to the previous year.

For the nine months ended December 31, 2025, standalone revenue from operations reached ₹1,411.79 crore compared to ₹1,319.90 crore in the corresponding period of FY25. Net profit for the nine-month period stood at ₹96.36 crore versus ₹87.33 crore in the previous year.

Consolidated Financial Results

The consolidated financial results, which include the performance of subsidiary Panol Industries RMC, FZE, showed revenue growth but faced margin pressures during the quarter.

On a nine-month basis, consolidated revenue from operations increased to ₹2,241.49 crore from ₹2,097.66 crore in the previous year. However, net profit for the nine-month period declined marginally to ₹141.42 crore from ₹142.76 crore in FY25.

Operational Highlights

The company's cost structure showed notable variations during the quarter. Cost of material consumed on a standalone basis was ₹418.74 crore in Q3FY26 compared to ₹382.16 crore in Q3FY25. Employee benefits expense increased significantly to ₹7.79 crore from ₹3.93 crore in the year-ago quarter.

Finance costs decreased substantially to ₹1.10 crore in Q3FY26 from ₹2.72 crore in Q3FY25, indicating improved financial management. Other expenses reduced to ₹25.92 crore from ₹34.40 crore in the corresponding quarter of the previous year.

Corporate Governance and Compliance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on February 10, 2026. The meeting commenced at 11:30 AM and concluded at 12:15 PM. JMR & Associates LLP, Chartered Accountants, conducted the limited review of both standalone and consolidated financial results.

The company maintains its paid-up equity share capital at ₹12.10 crore with a face value of ₹2 per share. Panama Petrochem operates primarily in the specialty petroleum products segment, with its registered office located at Plot No. 3303, G.I.D.C., Ankleswar-393002.