In Continuation of our earlier letter dated 28.08.2025 and pursuant to Regulation 34 of SEBI (LODR) Regulations, 2015, please find attached herewith the revised Annual Report 2024-25 of ....
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Narmada Gelatines has filed a corrigendum to its FY 2024-25 Annual Report after spotting errors in the shareholding data already emailed to shareholders on August 28, 2025. The equity holding of promoter Pioneer Jellice India Pvt Ltd has been corrected from 25,83,619 shares (42.71%) to 24,23,321 shares (40.06%), and aggregate promoter group holding revised from 77.65% to 75.00%. The company says this is not a material change. The revised report accompanies the notice for the 64th AGM scheduled on September 22, 2025. The original Annual Report shows FY24-25 revenue of Rs 190.57 crore (up 3.9% YoY), PAT of Rs 17.21 crore (up 12.3%), EBITDA of Rs 26.23 crore (up 14.7%), and EPS of Rs 28.45. A 100% dividend (Rs 10/share) has been recommended.
The correction is cosmetic and not expected to impact shareholder value, though it does change the disclosed promoter shareholding. Investors should note the underlying results remain strong with double-digit profit growth and consistent dividend payout, while the company has availed fresh debt (CC limits and term loan) for the first time, pushing debt-equity to 0.11x from nil previously.