Natco Pharma Limited has informed the Exchange regarding Outcome of Board Meeting held on March 24, 2026
NATCOPHARM · price
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On the reaction day the stock moved 0.3 pts more than Nifty Smallcap 250 and 1.1 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Natco Pharma's board has approved a Scheme of Arrangement to demerge its Agrochemicals business into wholly owned subsidiary Natco Crop Health Sciences Limited, with an Appointed Date of October 1, 2026. Under the scheme, shareholders will get 1 equity share of INR 2 in the resulting company for every 1 share held in Natco Pharma (1:1 ratio); the resulting entity will seek listing on BSE and NSE. The agrochemicals division contributed just ₹60.6 crore in turnover (only 1.48% of total) for FY25, so the demerger is of a small, non-core vertical. Shareholders of Natco will end up with about 80% direct holding in the resulting company, with Natco retaining around 20% — together preserving 100% economic interest. Separately, the board approved incorporating a new 100% subsidiary in Nigeria (NATCO Pharma Nigeria Limited) with investment up to USD 100,000, and decided to liquidate its Australian arm Natco Pharma Australia Pty Ltd by end of September 2026. The scheme still needs stock exchange no-objection, shareholder, creditor, and NCLT approvals.
For existing Natco shareholders, the core pharma business stays intact while they receive an additional listed stock representing the agrochemicals vertical — effectively a value-unlock split with no cash outflow. The agrochemicals piece is very small relative to total revenue, so near-term earnings impact should be limited, but approval timelines and NCLT process will be key milestones to watch.