Ishan Dyes & Chemicals Limited has achieved a significant operational milestone with the commencement of continuous sulphuric acid consumption from its new Plant Unit 2 on January 23, 2026. The company informed stock exchanges about this development under Regulation 30 of SEBI LODR Regulations 2015, marking a key step in its expansion strategy.

Plant Operations and Timeline

The new Plant Unit 2 has begun supplying sulphuric acid to the company's existing Phthalocyanine Pigments Plant (Unit 1), creating an integrated production system. This development represents the culmination of a project that the company has been updating stakeholders about through previous communications.

Business Integration and Growth Strategy

The company expects this new project to synergize with its present business operations, providing a new growth trajectory in terms of revenues and profitability. The integration of sulphuric acid production with the existing Phthalocyanine Pigments Plant creates operational efficiencies and strengthens the company's manufacturing capabilities.

Commercial Operations

While the plant has commenced internal consumption of sulphuric acid for the company's pigments production, commercial sales to external customers are scheduled to begin on January 31, 2026. This phased approach allows the company to ensure smooth operations before expanding to external market supply.

Management Outlook

The management emphasized its commitment to continuous growth and enhancing stakeholder value. This project represents part of the company's broader strategy to achieve new heights and expand its operational capabilities in the chemicals sector.

Regulatory Compliance

The announcement was made in continuation of the company's earlier letters dated June 16, 2025, and October 7, 2025, maintaining transparency with stakeholders throughout the project development phase. The disclosure was made pursuant to Regulation 30 of SEBI LODR Regulations 2015, ensuring compliance with regulatory requirements for material developments.

Ishan Dyes & Chemicals , a key player in the chemical industry, has taken a significant step to strengthen its promoter holding through a preferential allotment of convertible equity warrants. The company's Board of Directors approved the issuance of 45,84,872 convertible equity warrants to two promoters on September 20, potentially increasing the promoter group's stake in the company.

Warrant Allotment Details

The allotment was made to two key promoters of the company:

1. Piyushbhai Natvarlal Patel: 22,92,436 warrants
2. Anilaben Piyushbhai Patel: 22,92,436 warrants

These warrants are convertible into an equal number of equity shares within 18 months from the date of allotment, providing the promoters with the option to increase their stake in the company.

Impact on Promoter Holding

The issuance of these warrants has the potential to significantly impact the promoter group's holding in Ishan Dyes & Chemicals:

• Pre-allotment promoter holding: 46.73% (on a fully diluted basis)
• Post-allotment promoter holding: 46.81% (on a fully diluted basis)

This slight increase in percentage terms represents a substantial addition of 45,84,872 shares to the promoter group's holding upon full conversion of the warrants.

Changes in Share Capital

The warrant issuance has implications for the company's share capital structure:

Individual Promoter Stakes

The allotment will particularly boost the holdings of the two participating promoters:

Piyushbhai Natvarlal Patel

Anilaben Piyushbhai Patel

Regulatory Compliance

In compliance with SEBI regulations, the company has made the necessary disclosures under Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This ensures transparency in the preferential allotment process and its impact on the company's shareholding pattern.

Trading Window Closure

In a separate announcement, Ishan Dyes & Chemicals has informed that the trading window for dealing in the company's equity shares will be closed from October 1 until 48 hours after the declaration of the unaudited standalone financial results for the quarter and half-year ending September 30. This closure applies to designated persons and their immediate relatives, in accordance with SEBI regulations on insider trading.

The preferential allotment of convertible warrants to promoters signals a vote of confidence in the company's future prospects. Investors and market watchers will be keen to observe how this move impacts the company's performance and market perception in the coming months.