Coromandel International Limited's Board of Directors has approved the submission of an application to stock exchanges for the reclassification of Algavista Greentech Private Limited (AGPL) from promoter group to public category shareholders. The decision was taken at the board meeting held on January 29, 2026.

Regulatory Framework and Process

The reclassification request is being processed under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board's approval follows an initial request received from AGPL on December 18, 2025, seeking reclassification from the 'promoter and promoter group' category to 'public' category shareholders.

Stock Exchange Approval Requirements

The board has approved submitting the application to both stock exchanges where Coromandel International's shares are listed - the National Stock Exchange of India Limited and BSE Limited. The company will seek No Objection Certificates from both exchanges as required under the regulatory framework.

The reclassification remains subject to receiving no objection from the stock exchanges in terms of Regulation 31A of the Listing Regulations. AGPL has provided undertakings in their request letter to comply with all requirements specified in Regulation 31A (4) of the Listing Regulations at all times.

Compliance and Next Steps

The board noted that AGPL has committed to maintaining compliance with the regulatory requirements throughout the reclassification process. The company has formally communicated this development to both NSE and BSE through official intimation dated January 29, 2026, with reference number 2025-26/098.

The reclassification, if approved by the stock exchanges, would result in AGPL moving from the promoter group category to public shareholders category, potentially impacting the company's shareholding pattern and governance structure.

Coromandel International has reported its third quarter consolidated financial results, showing a net profit of ₹5 billion compared to ₹5.1 billion in the corresponding quarter of the previous year.

Financial Performance Overview

The company's Q3 consolidated net profit reflects a year-on-year comparison that indicates a slight decline in profitability. The financial results demonstrate the company's performance during the third quarter period.

Quarter Performance Analysis

The third quarter results show Coromandel International's consolidated net profit standing at ₹5 billion, marking a decrease from the ₹5.1 billion achieved in the same quarter of the previous financial year. This year-on-year comparison provides insight into the company's recent financial trajectory.

The reported figures represent the company's consolidated financial performance, reflecting the overall business operations during the quarter under review.