Indo borax & chemicals Limited has executed an amendment to its framework agreement with promoter group members, adding an additional purchaser to the existing arrangement. The amendment was executed on January 20, 2026, and disclosed to stock exchanges in compliance with SEBI regulations.

Amendment Details and Parties Involved

The amendment modifies the original framework agreement dated December 13, 2025, by including Mr. Saumya Sajal Jain as Purchaser 4. The complete list of parties to the amended agreement includes:

All purchasers are members of the promoter/promoter group of the company and collectively hold approximately 47.25% of the total share capital.

Transaction Structure and Compliance

The amendment represents a related party transaction conducted at arm's length, as disclosed in the regulatory filing. The primary purpose of the amendment is to include Mr. Saumya Sajal Jain as an additional purchaser for the residential property referenced in the company's postal ballot notice.

Regulatory Disclosure Requirements

The company filed the disclosure under Regulation 30 of SEBI LODR Regulations and SEBI Master Circular dated November 11, 2024. This amendment follows a series of previous intimations dated July 21, 2025, August 28, 2025, and December 13, 2025, indicating ongoing developments related to this framework agreement.

The disclosure confirms that no special rights are granted to the purchasers with respect to the company, such as rights to appoint directors, first right to share subscription, or rights to restrict changes in capital structure. The amendment specifically addresses the inclusion of the additional purchaser without altering the fundamental terms of the original framework agreement.

Corporate Governance and Impact

The transaction maintains transparency through proper regulatory disclosure and adherence to related party transaction guidelines. The amendment does not involve any share issuance or create potential conflicts of interest, as confirmed in the regulatory filing. The company secretary and compliance officer, Pravin Chavan, signed the disclosure document, ensuring proper corporate governance procedures were followed throughout the amendment process.

Indo Borax & Chemicals has announced its Q3FY26 financial results, showcasing mixed performance with robust revenue growth offset by margin pressures. The chemicals manufacturer reported revenue of ₹41.02 crores for the quarter ended December 31, 2025, marking a 9.33% year-on-year increase from ₹37.51 crores in the corresponding period last year.

Board Meeting and Regulatory Compliance

The Board of Directors approved the standalone and consolidated unaudited financial results at their meeting held on January 16, 2026, at the company's registered office. The board meeting commenced at 11:30 a.m. and concluded at 2:45 p.m., with the results submitted to BSE and NSE under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Overview

The company's Q3FY26 results present a contrasting picture of strong top-line growth alongside operational challenges. Net profit reached ₹9.11 crores, representing a modest 2.15% year-on-year improvement from ₹8.92 crores in Q3FY25.

EBITDA Performance Analysis

The most significant concern in Q3FY26 was the decline in EBITDA performance. EBITDA dropped to ₹8.61 crores from ₹9.74 crores in the previous year, representing an 11.55% year-on-year decline. The EBITDA margin compressed substantially to 20.98% from 25.97%, indicating operational efficiency challenges despite revenue expansion.

Operational Challenges

During the quarter, the company's Pithampur Plant remained shut down from October 14, 2025, to November 22, 2025, due to planned annual maintenance of the boiler. This operational disruption likely contributed to the margin compression and affected overall production efficiency.

Regulatory Impact

The company experienced a one-time impact from New Labour Codes effective November 21, 2025. The Government of India consolidated multiple existing labour legislations into four unified Labour Codes, resulting in an estimated one-time decrease in provision for employee benefits of ₹27.97 lakhs, which was recognized as employee benefit expense in the current reporting period.

Nine-Month Performance

For the nine months ended December 31, 2025, the company demonstrated stronger overall performance with revenue reaching ₹152.44 crores compared to ₹125.14 crores in the corresponding period last year, marking a 21.82% increase. Net profit for the nine-month period stood at ₹35.24 crores, up from ₹31.81 crores, representing a 10.78% growth.