Shree Pushkar Chemicals & Fertilisers539334Board key decisions

Board approves Rs. 70 crore plant, promoter warrants and capital hike; Q2/H1 results get unmodified review

Board meeting, 2 Nov 2026, approved: Rs. 70 crore new chemical plant at Unit-5, MIDC Lote Parshuram; authorised capital up from Rs. 33,50,00,000 to Rs. 34 crore.

By ScoutQuest · Mon 2 Nov 2026, 7:02 PM IST · 3 min read

Capex approved: Rs. 70 crore new chemical plant at Unit-5, MIDC Lote Parshuram
Consolidated Revenue from operations (Q2): Rs. 40,348.40 lakh for the quarter
Warrants to promoter: up to 8,54,060 fully convertible warrants at Rs. 526.90 each

What the board decided

The board met on Monday, 2nd November, 2026 and approved four things: the unaudited results for the quarter and half year ended 30th September, 2026, a new chemical plant at Unit-5, an increase in authorised share capital, and a preferential issue of fully convertible warrants to the promoter. It also called an Extra-Ordinary General Meeting on Wednesday, 2nd December, 2026 at 3:00 p.m. through video conferencing; the cut-off date for e-voting is Wednesday, 25th November, 2026.

Results: the headline numbers

These are unaudited. The statutory auditor, JASS & Co LLP, carried out a limited review — a check narrower than a full audit — and its conclusion is unmodified, meaning nothing came to its attention to suggest the statements contain a material misstatement. It does not express an audit opinion.

Consolidated, quarter ended 30th September, 2026: Revenue from operations Rs. 40,348.40 lakh, Total income Rs. 40,668.55 lakh, Profit for the period Rs. 3,571.76 lakh.
Consolidated, half year ended 30th September, 2026: Revenue from operations Rs. 68,355.04 lakh, Total income Rs. 69,162.30 lakh, Profit for the period Rs. 5,864.42 lakh.
Standalone, quarter ended 30th September, 2026: Revenue from operations Rs. 22,954.33 lakh, Total income Rs. 23,219.91 lakh, Profit for the period Rs. 2,344.38 lakh.
Standalone, half year ended 30th September, 2026: Revenue from operations Rs. 38,695.32 lakh, Profit for the period Rs. 3,556.31 lakh.
Basic earnings per share (face value ₹ 10 each, not annualised): Rs. 11.05 consolidated and Rs. 7.25 standalone for the quarter; Rs. 18.13 consolidated and Rs. 11.00 standalone for the half year.

On the subsidiaries: for two subsidiaries the auditors relied on the reports of other auditors, and for one foreign subsidiary and one domestic subsidiary the figures were certified by management, which stated they are not material to the Group.

A note to the results records that at the 33rd Annual General Meeting held on 28th September, 2026 the company declared a dividend of ₹ 2.10 per share (face value of ₹ 10 each) amounting to ₹ 679.09 lakhs.

New plant at Unit-5

The board approved capital expenditure of Rs. 70 crores at Unit-5 of the company by way of a new chemical plant at D-10, MIDC Lote Parshuram, Taluka Khed, Dist. Ratnagiri, Maharashtra, within the available parcel of land.

Warrants to the promoter

Up to 8,54,060 Fully Convertible Warrants are to be issued on a preferential basis to Mr. Punit Gopikishan Makharia, Promoter Chairman and Managing Director of the company, "in view of the aforementioned expansion". Each warrant carries an entitlement to subscribe to an equivalent number of equity shares of face value Rs. 10/- each, at Rs. 526.90 each, or at a price not lower than the minimum price determined under Chapter V of the SEBI (Issue of Capital Disclosure Requirements) Regulations, 2018.

Authorised share capital

In view of the expansion, the board approved an increase in authorised share capital from Rs. 33,50,00,000 divided into 3.35 crore equity shares of face value Rs. 10/- each to Rs. 34 crore divided into 3.4 crore equity shares of Rs. 10/- each, by creation of an additional 5 lakh equity shares of ₹ 10/- each, with a consequential amendment to the Memorandum of Association.

How a retail investor can read this

The results carry a limited review conclusion, not an audit opinion, and cover both standalone and consolidated numbers.
The Rs. 70 crore plant is a fresh capital expenditure approval at Unit-5 within land the company already has.
The warrant issue is to the promoter chairman and managing director at Rs. 526.90 per warrant; on conversion it adds equity shares to the share base.
The increase in authorised capital raises the ceiling of shares the company may issue; it is not by itself an issue of shares.
The warrant issue and the capital increase are placed before shareholders at the Extra-Ordinary General Meeting called for 2nd December, 2026, with e-voting cut-off on 25th November, 2026.

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