Pankaj Polymers: Rahul Nagar Acquires 8.38% Stake, Group Holding Rises to 57.23%

Pankaj Polymers Limited has received a disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, filed by Rahul Nagar, an incoming promoter, reporting the acquisition of 4,64,310 equity shares representing 8.38% of the company's total share and voting capital. The acquisition was executed on May 18, 2026, through an off-market Share Purchase Agreement (SPA) pursuant to an open offer, and the disclosure was submitted to BSE Limited on May 19, 2026.

Acquisition Details: Rahul Nagar

Rahul Nagar, acting as acquirer along with Persons Acting in Concert (PACs) — Vikas Garg, Sandeep Jain, and Himanshu Arora — acquired 4,64,310 shares (8.38%) through an off-market SPA pursuant to an open offer. The key parameters of this acquisition are detailed below:

Parameter: Details Acquirer Rahul Nagar PACs Vikas Garg, Sandeep Jain, Himanshu Arora Target Company Pankaj Polymers Limited Shares Acquired (Rahul Nagar) 4,64,310 (8.38%) Date of Acquisition May 18, 2026 Mode of Acquisition Off-market SPA pursuant to open offer Exchange BSE Limited Equity Share Capital (Pre & Post) Rs. 5,54,39,000 (55,43,900 shares of Rs. 10/- each)

Pre and Post-Acquisition Shareholding of Acquirer Group

The combined holding of Rahul Nagar and his PACs stood at 27,08,686 shares (48.86%) prior to this acquisition. Following the acquisition of 4,64,310 shares by Rahul Nagar, the aggregate holding of the acquirer group has risen to 31,72,996 shares, representing 57.23% of the total share and voting capital. The individual pre and post-acquisition holdings are presented below:

Acquirer / PAC: Shares Before % Before Shares After % After Rahul Nagar 6,60,690 11.92% 11,25,000 20.29% Vikas Garg 11,25,000 20.29% 11,25,000 20.29% Sandeep Jain 7,23,658 13.05% 7,23,658 13.05% Himanshu Arora 1,99,338 3.60% 1,99,338 3.60% Total 27,08,686 48.86% 31,72,996 57.23%

Context: Broader Promoter Transition

This acquisition forms part of the ongoing promoter transition at Pankaj Polymers Limited. Rahul Nagar, along with his PACs, had entered into a Share Purchase Agreement dated January 14, 2026, with the existing promoters for the acquisition of 32,23,627 equity shares, representing 58.15% of the equity share capital, with the intent to take control of the company. As noted in the disclosure, a balance of 50,662 shares representing 0.91% of the equity share capital remains to be acquired in due course. Upon completion of the full acquisition of 32,23,627 shares (58.15%), Rahul Nagar and his PACs will become the new promoters of Pankaj Polymers Limited.

In earlier related developments, Vikas Garg had acquired 10,05,730 shares (18.14%) through an off-market SPA on May 14, 2026, with the disclosure submitted to BSE Limited on May 15, 2026. Prior to that, on May 13, 2026, Rahul Nagar and PACs had acquired 10,45,380 shares (18.86%) through an off-market SPA pursuant to an open offer. The equity share capital of Pankaj Polymers Limited remains unchanged at Rs. 5,54,39,000, comprising 55,43,900 equity shares of Rs. 10/- each.

Pankaj Polymers Limited has announced its audited financial results for FY26, following a Board Meeting held on 30th April 2026. The company reported a significant financial turnaround with a profit of ₹219.64 lakhs for the full year, marking a remarkable recovery from the loss of ₹12.94 lakhs recorded in FY25. The results were reviewed by the Audit Committee and approved by the Board of Directors, with statutory auditors Luharuka & Associates providing an unmodified opinion.

Financial Performance Overview

The company demonstrated strong financial recovery across key metrics. Total income for FY26 reached ₹461.12 lakhs, representing a substantial increase from ₹227.36 lakhs in the preceding year. While revenue from operations declined to ₹129.84 lakhs from ₹149.92 lakhs in FY25, other income surged dramatically to ₹331.28 lakhs from ₹77.44 lakhs, primarily driving the overall income growth.

Particulars: FY26 (₹ in Lakhs) FY25 (₹ in Lakhs) Change Total Income: 461.12 227.36 +102.8% Revenue from Operations: 129.84 149.92 -13.4% Other Income: 331.28 77.44 +327.8% Total Expenses: 231.65 240.90 -3.8% Profit Before Tax: 229.47 (13.54) Turnaround Net Profit: 219.64 (12.94) Turnaround Basic EPS: 3.96 (0.23) Positive

Quarterly Performance Analysis

For the quarter ended 31st March 2026, Pankaj Polymers reported a profit of ₹9.80 lakhs, compared to a loss of ₹0.93 lakhs in the corresponding quarter of the previous year. Total income for Q4 FY26 stood at ₹119.72 lakhs, with revenue from operations at ₹57.11 lakhs and other income contributing ₹62.61 lakhs.

Balance Sheet Strengthening

The company's balance sheet position showed significant improvement as of 31st March 2026. Total assets remained stable at ₹1,412.95 lakhs compared to ₹1,408.10 lakhs in the previous year. However, the capital structure improved substantially with total equity increasing to ₹1,304.59 lakhs from ₹1,092.16 lakhs, while total liabilities decreased significantly to ₹108.36 lakhs from ₹315.93 lakhs.

Balance Sheet Items: As at 31st March 2026 As at 31st March 2025 Total Assets: ₹1,412.95 lakhs ₹1,408.10 lakhs Total Equity: ₹1,304.59 lakhs ₹1,092.16 lakhs Total Liabilities: ₹108.36 lakhs ₹315.93 lakhs Non-current Borrowings: NIL ₹123.11 lakhs Current Borrowings: NIL ₹64.09 lakhs

Debt Reduction and Cash Flow Management

A notable achievement during FY26 was the complete repayment of borrowings. Outstanding qualified borrowings stood at NIL as of 31st March 2026, compared to ₹1.69 crores at the beginning of the fiscal year. The cash flow statement reveals substantial cash inflows from investing activities of ₹628.33 lakhs, primarily from proceeds from sale of fixed assets (₹294.04 lakhs) and sale of investments (₹268.20 lakhs). Cash and cash equivalents increased to ₹15.96 lakhs from ₹10.63 lakhs at the end of the previous year.

Regulatory Compliance and Audit Opinion

The financial results comply with Regulation 33 of SEBI (LODR) Regulations, 2015. Managing Director Pankaj Goel submitted the mandatory declaration confirming that statutory auditors Luharuka & Associates issued an unmodified audit opinion on the financial results. The Board Meeting commenced at 1.30 PM and concluded at 3.00 PM on 30th April 2026, with all required documents submitted to the Bombay Stock Exchange.

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