Clarification For Query Raised By BSE Under Reg 30 Of SEBI LODR Regulations, 2015 For Corporate Announcement Submitted By The Company On 27Th September, 2025

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ZUARI · price

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Price reactionminutes from the announcement price · days from the prior close

-0.7%Reaction day

₹272.80

prior close

₹268.05

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.4%-0.3% vs market

Fertilizers peers, median of 19sector-0.0%-0.6% vs sector

On the reaction day the stock moved 0.3 pts less than Nifty Microcap 250 and 0.6 pts less than its Fertilizers peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.7

10m

+1.3

15m

+0.4

30m

+1.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.7-0.4-0.3-0.0-0.6

Next day

+1.0+1.0-0.0+0.2+0.8

+0.8+2.3-1.5+1.0-0.2

+0.3+2.0-1.7+0.1+0.2

-0.3+1.8-2.1-0.2-0.1

-0.6+1.5-2.1-1.0+0.4

-3.8+2.4-6.2-0.4-3.4

15d

-0.3+3.3-3.7-1.8+1.5

-5.4+3.9-9.3-0.3-5.2

-1.2+0.4-1.6-5.9+4.7

+22.4-3.2+25.7-6.6+29.0

UpDownMarket · Nifty Microcap 250Sector · Fertilizers peers, median of 19Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

BSE had asked Zuari Agro Chemicals to explain whether it delayed disclosing a material event related to an NCLT Bengaluru order, which the company was required to report within 24 hours under SEBI rules. The company clarified that the NCLT order was uploaded on 26th September 2025, and its related entity Mangalore Chemicals & Fertilizers (MCFL) disclosed it to the exchanges on the same day. Zuari Agro filed its own disclosure on 27th September 2025 at 4:15 PM, arguing this falls within the 24-hour window from the event date. The company maintains there was no delay and that it has fully complied with disclosure rules.

Likely market impact

This is a procedural clarification with no new business impact. Investors should note that an NCLT order affecting MCFL (a group company) exists, but its nature and financial impact are not detailed in this filing. The stock is unlikely to see significant movement from this clarification alone, though the underlying NCLT order may warrant separate attention.