Tapovan Paper and Board Mills Acquires 0.40% Stake in Nath Bio-Genes Through Amalgamation Scheme

Tapovan Paper and Board Mills Limited has disclosed the acquisition of 75,645 equity shares in Nath Bio-Genes (India) Limited, representing 0.40% of the target company's total paid-up equity share capital. The acquisition occurred through a scheme of arrangement and amalgamation that was sanctioned by the National Company Law Tribunal (NCLT), Mumbai Bench on November 26, 2025.

Amalgamation Details

The scheme involved the amalgamation of five transferor companies with Tapovan Paper and Board Mills Limited as the transferee company. The transferor companies included Jeevan Farms Private Limited, Nath Securities Limited, Paresh Farms Private Limited, Prabha Farms Private Limited, and Wexford Trading Company Private Limited. All these entities have ceased to exist following the completion of the amalgamation process.

The NCLT order was communicated on December 19, 2025, and the effective date of the share transfer was January 9, 2026, coinciding with the filing of Form INC-28 with the Registrar of Companies.

Share Transfer Breakdown

The acquired shares originated from two specific transferor companies that held stakes in Nath Bio-Genes:

Transferor Company	Shares Transferred	Percentage
Prabha Farms Private Limited	75,271	0.40%
Paresh Farms Private Limited	374	0.00%
Total	75,645	0.40%

Shareholding Structure

Following the acquisition, the promoter and promoter group shareholding structure of Nath Bio-Genes remains as follows:

Entity	Shares Held	Percentage
Tapovan Paper and Board Mills Limited	75,645	0.40%
Other Promoter and Promoter Group	8,589,257	45.20%
Total Promoter Group Holding	8,664,902	45.60%

Regulatory Compliance

Tapovan Paper has filed the necessary disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The company emphasized that this acquisition represents a transfer of shares among existing promoter group entities and does not result in any change to the aggregate shareholding of the promoter and promoter group of Nath Bio-Genes.

The target company, Nath Bio-Genes (India) Limited, maintains its equity share capital of ₹19.00 crores, divided into 1,90,04,000 equity shares of ₹10.00 each. The company's shares are listed on both BSE Limited and the National Stock Exchange of India Limited.

Corporate Structure Impact

The amalgamation scheme has resulted in the consolidation of multiple entities under Tapovan Paper and Board Mills Limited. The actual transfer of the Nath Bio-Genes shares will be effected in due course, as indicated in the regulatory filing dated January 13, 2026. This corporate restructuring appears to be part of a broader organizational consolidation within the promoter group structure.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.23%	-6.60%	-4.23%	-36.07%	-15.58%	-47.57%

Nath Bio-Genes (India) Limited, a leading player in the Indian seed industry, has reported a robust financial performance for the first half of fiscal year 2026. The company's revenue grew by 15.9% year-on-year to reach INR 3,199.00 million, with Profit After Tax (PAT) increasing by 15.3% to INR 424.00 million.

Strong Performance in Key Segments

The company's growth was primarily driven by strong performances in its cotton and vegetable seeds segments:

Cotton: Achieved a 26.3% value growth, with volume increasing by 6% to 1.11 million packets
Vegetable Seeds: Recorded a 25% year-on-year growth, emerging as the fastest-growing segment
Paddy: Delivered steady growth with a 10% increase in value

Product Portfolio and Market Position

Nath Bio-Genes maintained its market position despite challenging conditions:

Cotton and paddy together accounted for 74% of H1 revenue
Flagship brands like Nath Sanket, JUMBO, and RANA continued to perform well
The company expanded its product portfolio across maize, vegetable seeds, and plant nutrition solutions

Financial Highlights

Metric	H1 FY26 (INR Million)	Y-o-Y Growth
Revenue	3,199.00	15.9%
PAT	424.00	15.3%

Operational Challenges and Strategies

The company demonstrated resilience in the face of several challenges:

Erratic monsoons and uneven rainfall patterns
Spread of illegal BT cotton, which impacted the organized seed sector
Evolving market dynamics and changing farmer preferences

To address these challenges, Nath Bio-Genes focused on:

Enhancing product portfolio and creating hybrids with improved resilience
Strengthening channel partnerships
Expanding market reach, especially in the vegetable seeds segment

Future Outlook

Management expressed optimism about future growth prospects:

Expecting continued growth in the vegetable seeds and Plant Nutrition Solutions segments
Advancing steadily on the innovation pipeline with several promising hybrids across key crops
Progress in the Uzbekistan joint venture, with plans to expand into different crops

Management Commentary

Satish Kagliwal, Managing Director of Nath Bio-Genes, stated, "Despite uneven monsoons, erratic rainfall, and evolving market dynamics, our teams on the ground have continued to deliver consistent results and strengthen farmer trust in our products."

Dr. Venkatesh Kulkarni, Research Lead, highlighted the company's focus on addressing climate unpredictability: "We are working on developing hybrids that offer improved resilience to diseases and pests, as well as tolerance to heat and other abiotic stresses."

While Nath Bio-Genes has shown strong growth in H1 FY26, investors should note that the company faces ongoing challenges from erratic weather patterns and competition from illegal seed varieties. The management's focus on product innovation and market expansion will be crucial for maintaining growth momentum in the coming quarters.