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AMBANI ORGOCHEM LIMITED (AMBANIORGO)

📊 NSE: AMBANIORGO 🏢 Chemicals 📢 Latest filing: 16 Oct 2026 📝 Analysis written: 13 Dec 2025

H1 FY27 results

AMBANI ORGOCHEM LIMITED reported H1 FY27 results on 15 Oct 2026: revenue ₹171 Cr (+54.3% year on year, +28.7% on the previous half-year), and net profit ₹3.5 Cr; the operating margin was 6.6%.

H1 FY27 (₹ Cr)	Value	YoY vs H1 FY26	vs prev. half
Revenue	₹171	+54.3%	+28.7%
Operating profit	₹11.3	+41.5%	+41.5%
Net profit	₹3.5	—	+245.0%
EPS (₹)	4.02	—	+169.8%
Operating margin	6.6%	—	—

Quality of profit: of pre-tax profit of ₹3.9 Cr, ₹3.9 Cr (100%) came from the core business and the rest from other income and one-off items. Core profit (operating profit less interest and depreciation) moved +290.8% year on year.

Full quarterly financials → Margins & quality of profit → All Q2 FY27 results → Results calendar →

AMBANIORGO delivery percentage and bulk deals

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 61.54% of the AMBANIORGO shares traded on NSE were taken to delivery, against the stock's own 20-session average of 97.9%. That is lower than usual for this stock. Turnover was only ₹44 lakh, so a handful of trades can move this figure. It closed at its upper price band (circuit) on 16 Oct, one of 9 band closes in about the last 20 sessions. 11 bulk or block deals were reported in AMBANIORGO in the last 60 days: ₹3 Cr bought and ₹3 Cr sold.

61.54%Delivery, 16 Oct

97.9%Own 20-session average

0.9×Volume vs its average

₹169.75NSE close · +4.98%

Delivery in the last 5 sessions: 100.0% · 100.0% · 94.4% · 100.0% · 61.5%

Date	Side	Counterparty	Value	Price	Quantity	Type
1 Oct	Sell	Echjay Forging Industries Private Limited	₹0.70 Cr	₹115.05	61,000	Bulk
1 Oct	Buy	Sidhachakra Enterprise Llp	₹0.70 Cr	₹115.05	61,000	Bulk
30 Sep	Buy	Manish Kiritkumar Shah (Huf)	₹0.57 Cr	₹115.00	50,000	Bulk
30 Sep	Sell	Echjay Forging Industries Private Limited	₹0.57 Cr	₹115.00	50,000	Bulk
25 Sep	Buy	U.K.Vora	₹0.57 Cr	₹115.00	50,000	Bulk

Delivery across the market →Circuit stocks →All bulk and block deals →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Ambani Orgochem amends EGM notice for Rs 43.93 Cr warrant issue following NSE review

🟡 NEUTRAL ⭐ 5/10

FUNDRAISE 📅 16 Oct 2026, 07:42 PM

Ambani Orgochem has issued a corrigendum to its October 26, 2026 EGM notice following observations from the NSE and a board decision to exclude one proposed allottee. The proposed preferential issue of convertible warrants is now revised slightly lower to 43,92,500 warrants (from 43,95,000) at Rs 100 per warrant, aiming to raise up to Rs 43.93 crore. The fundraise equals approximately 70% of the company's net worth of Rs 63 crore and 10% of TTM revenue. Proceeds will fund working capital (Rs 20.00 crore), business expansion/premises acquisition (Rs 13.00 crore), and general corporate purposes (Rs 10.93 crore).

Preferential warrant issue trimmed by 2,500 warrants to 43,92,500 warrants, reducing total size to Rs 43.925 crore
Issue price fixed at Rs 100 per warrant against an independent valuer floor price of Rs 61.13
Proceeds allocated to working capital (Rs 20.00 crore), business expansion (Rs 13.00 crore), and general corporate purposes (Rs 10.925 crore)
Promoter Rakesh Hasmukhlal Shah is the anchor subscriber with 30,00,000 warrants (22.54% fully diluted stake)
25% (Rs 10.98 crore) payable upfront, with the remaining 75% payable upon warrant exercise within 18 months

💡 Track shareholder voting results from the EGM scheduled on October 26, 2026, followed by formal in-principle and listing approvals from NSE.

Ambani Orgochem Trims Preferential Warrant Issue Marginally to ₹43.93 Cr

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 16 Oct 2026, 06:05 PM

Ambani Orgochem Limited has approved a minor reduction in its proposed preferential issue of convertible warrants from 43,95,000 to 43,92,500 warrants. The total fundraise is now revised down slightly from ₹43.95 crore to ₹43.925 crore following the exclusion of one public allottee (2,500 warrants). The issue price remains unchanged at ₹100 per warrant (including a ₹90 premium). The proposed ₹43.93 crore fundraise represents a significant equity capital addition compared to its existing net worth of ₹63 crore.

Warrant count reduced from up to 43,95,000 to 43,92,500 convertible warrants
Total issue size revised from ₹43.95 crore to ₹43.925 crore
Issue price retained at ₹100 per warrant (face value ₹10 plus ₹90 premium)
Proposed allottee count decreased from 10 to 9 after excluding Bhavna Girikrishna Maniar
Promoter Rakesh Hasmukhlal Shah remains the largest subscriber with 30,00,000 warrants

💡 Track shareholder voting results at the upcoming EGM scheduled for October 26, 2026, and the subsequent warrant allotment and conversion timelines.

H1 FY27 Net Profit Jumps to ₹3.41 Cr; Revenue Up 55% YoY at ₹171.22 Cr

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 15 Oct 2026, 07:31 PM

Ambani Orgochem reported standalone revenue from operations of ₹171.22 Cr for the half year ended September 30, 2026, up 55% YoY from ₹110.56 Cr. Standalone net profit surged to ₹3.41 Cr compared to ₹0.20 Cr in H1 FY26, supported by higher operating scale and an extraordinary item of ₹67.87 lakhs. The auditor issued an Emphasis of Matter regarding an insurance claim receivable of ₹817.87 lakhs for loss of profit from the Dahej factory fire, which is pending final settlement. Additionally, the company converted 12.60 lakh warrants into equity and redeemed ₹4.55 Cr of preference share capital.

Standalone total income from operations rose 54.8% YoY to ₹171.22 Cr in H1 FY27 from ₹110.56 Cr in H1 FY26
Net profit after tax stood at ₹3.41 Cr versus ₹0.20 Cr in the year-ago half year
Insurance loss-of-profit eligible claim assessed by surveyor at ₹817.87 lakhs and recognized as receivable
Converted 12,60,000 warrants into equity shares upon receiving the balance 75% issue price
Redeemed 45,52,320 preference shares amounting to ₹4.55 Cr during the period

💡 Monitor the actual receipt and final settlement of the ₹817.87 lakh insurance claim over the next six months, along with operating margins and working capital intensity.

Ambani Orgochem Submits Reg 74(5) Demat Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 08 Oct 2026, 04:13 PM

Ambani Orgochem Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 3, 2026. It confirms that share certificates received for dematerialisation during the quarter were processed, verified, and cancelled within prescribed timelines. This is a mandatory periodic filing with zero financial or operational impact.

Filing pertains to compliance for the quarter ended September 30, 2026
Certificate issued by RTA MUFG Intime India Private Limited dated October 3, 2026
Submitted to the National Stock Exchange on October 8, 2026
Confirms mutilation, cancellation, and substitution of records within regulatory timelines

💡 No action is required as this is a standard administrative filing. Investors should track upcoming quarterly financial results for operational updates.

Ambani Orgochem Submits Reg 74(5) Demat Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 08 Oct 2026, 04:03 PM

Filing pertains to compliance for the quarter ended September 30, 2026
Certificate issued by RTA MUFG Intime India Private Limited dated October 3, 2026
Submitted to the National Stock Exchange on October 8, 2026
Confirms mutilation, cancellation, and substitution of records within regulatory timelines

💡 No action is required as this is a standard administrative filing. Investors should track upcoming quarterly financial results for operational updates.

Ambani Orgochem to Raise ₹43.95 Cr via Convertible Warrants; EGM on Oct 26

🟢 POSITIVE ⭐ 8/10

FUNDRAISE 📅 03 Oct 2026, 08:26 PM

Ambani Orgochem has issued a notice for an Extraordinary General Meeting (EGM) on October 26, 2026, to approve the preferential issue of up to 43,95,000 convertible share warrants at an issue price of ₹100 each. The total fundraise amounts to ₹43.95 crore, which represents approximately 78.5% of its current net worth of ₹56 crore. Of the total warrants, 30.1 lakh warrants are proposed to be allocated to the promoter group (primarily Rakesh Hasmukhlal Shah), and the remaining 13.85 lakh to non-promoter public investors. The company is also reclassifying ₹7 crore of unissued preference share capital into equity share capital to facilitate the expansion of equity base.

Proposed issuance of up to 43,95,000 convertible warrants at ₹100 per warrant (including ₹90 premium), raising ₹43.95 crore
Fundraise represents ~78.5% of net worth (₹56 cr) and ~10.0% of TTM revenue (₹438 cr)
Promoter group to be allotted 30,10,000 warrants (68.5% of issue), signaling promoter financial commitment
Reclassification of 70,00,000 unissued preference shares (₹7 cr) into equity shares to expand authorised equity capital to ₹20 cr
Minimum 25% upfront payment required at warrant allotment, with remaining 75% payable upon exercise

💡 Track shareholder voting outcomes at the EGM on October 26, 2026, followed by the formal allotment of warrants and the timeline for capital deployment toward ongoing Dahej Phase 2 expansion.

Ambani Orgochem Board Approves Preferential Issue of Up to 43.95 Lakh Convertible Warrants

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 28 Sep 2026, 08:03 PM

Ambani Orgochem has approved a preferential issue of up to 43,95,000 convertible warrants, each convertible into one equity share within 18 months, subject to shareholder approval at an EGM on October 26, 2026. Promoter Rakesh Harsukhlal Shah is slated to receive 30,00,000 warrants, which will increase his personal stake from 48.94% to 55.32% on a fully diluted basis. The issue price will be determined per SEBI ICDR regulations and is not yet disclosed. The board also approved the adoption of a new set of Articles of Association aligned with Table F of the Companies Act, 2013.

Issue of up to 43,95,000 convertible warrants into equity shares on a preferential basis
Promoter Rakesh Harsukhlal Shah to be allotted 30,00,000 warrants, increasing holding from 48.94% to 55.32%
Warrants convertible into equity shares within an 18-month tenure from allotment
EGM scheduled on October 26, 2026, to seek shareholder approval

💡 Track the upcoming EGM voting outcome on October 26, 2026, and look out for the exact pricing disclosure per SEBI pricing norms to evaluate dilution and capital inflow.

Ambani Orgochem Outlines Capacity Expansions in Salicylic Acid and Acrylic Coatings

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 09 Sep 2026, 06:48 PM

Ambani Orgochem released an investor presentation detailing significant operational capacity expansions. In its acrylic coatings and adhesives business, capacity is expanding 2.25x from ~2,000 tonnes/month to ~4,500 tonnes/month at Tarapur. The company is also quadrupling its in-house Salicylic Acid capacity from ~50 tonnes/month to ~200 tonnes/month to support downstream value-added derivatives. Currently, the company holds an aggregate capacity of over 50,000 MT/year across 4 manufacturing facilities.

Acrylic coatings and adhesives capacity expanding 2.25x from ~2,000 T/month to ~4,500 T/month at Tarapur
In-house Salicylic Acid capacity quadrupling from ~50 T/month to ~200 T/month
Aggregate manufacturing capacity exceeds 50,000 MT/year across 4 facilities in Tarapur and Dahej
Developing 5 additional peroxide molecules and 2 critical raw materials in-house for backward integration

💡 Track the commercial operational dates and capital expenditure spending for the Tarapur and Dahej expansions, along with subsequent margin improvement from value-added salicylates.

Ambani Orgochem sets 40th AGM for Sept 26, 2026; highlights FY26 turnaround & capex plans

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 04 Sep 2026, 06:33 PM

Ambani Orgochem has dispatched its FY2025-26 Annual Report and convened its 40th Annual General Meeting for September 26, 2026. In the report, the company highlighted FY26 total income growth of 25.64% YoY to ₹243.65 crore, with EBITDA rising 51.58% to ₹16.37 crore and net profit turning positive at ₹1.33 crore (vs. a loss of ₹0.85 crore in FY25). Management detailed ongoing capacity expansions, including scaling water-based acrylic emulsions at Tarapur from 2,000 tonnes/month to 4,500 tonnes/month and salicylic acid capacity from 50 to 200 tonnes/month.

FY2025-26 total income increased by 25.64% YoY to ₹243.65 crore
FY2025-26 EBITDA rose 51.58% YoY to ₹16.37 crore; PAT stood at ₹1.33 crore vs loss of ₹0.85 crore in FY25
Tarapur expansion underway to lift water-based acrylic emulsions capacity from 2,000 tonnes/month to 4,500 tonnes/month
Salicylic acid manufacturing capacity targeted to expand from 50 tonnes/month to 200 tonnes/month
40th Annual General Meeting scheduled for September 26, 2026 via video conferencing

💡 Monitor voting outcomes from the AGM on September 26, 2026, and track commissioning updates on the Tarapur capacity expansion in upcoming quarterly results.

Ambani Orgochem Sets Sep 19, 2026 Cut-off Date for 40th AGM

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 04 Sep 2026, 06:29 PM

Ambani Orgochem Limited has announced the details for its upcoming 40th Annual General Meeting (AGM). The company fixed September 19, 2026, as the cut-off date to determine voting eligibility for shareholders. The register of members and share transfer books will remain closed from September 20, 2026, to September 26, 2026. The Board also approved the Notice of the 40th AGM, the Directors' Report, and the Management Discussion and Analysis Report for FY 2025-26.

Board fixed September 19, 2026, as the cut-off date for 40th AGM voting eligibility
Share transfer books and register of members closed from September 20 to September 26, 2026
Notice of the 40th AGM and Directors' Report for FY 2025-2026 approved by the Board

💡 Shareholders looking to vote at the 40th AGM must hold shares as of the September 19, 2026 cut-off date. Track the forthcoming Annual Report for operational updates on the Dahej expansion.

Ambani Orgochem Approves 40th AGM Notice; Sets Cut-Off Date as Sep 19, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 04 Sep 2026, 06:26 PM

Ambani Orgochem Limited's Board of Directors met on September 4, 2026, to approve the notice and related reports for its 40th Annual General Meeting (AGM). The Board approved the Directors' Report, Management Discussion and Analysis Report, and associated documents for FY 2025-2026. The cut-off date for voting eligibility has been set for September 19, 2026. The register of members and share transfer books will remain closed from September 20, 2026, to September 26, 2026.

Board approved convening of 40th Annual General Meeting via Video Conferencing / OAVM
Cut-off date fixed as September 19, 2026 for shareholder voting eligibility
Book closure period set from September 20, 2026 to September 26, 2026
Board approved Directors' Report and MDAR for FY 2025-2026

💡 Track the release of the FY26 Annual Report for operational commentary regarding Dahej Phase 2 progress and salicylate market expansion.

Ambani Orgochem Files Revised SDD Compliance Certificate for FY26 Post NSE Query

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Aug 2026, 01:55 PM

Ambani Orgochem Limited has submitted a revised Structured Digital Database (SDD) Compliance Certificate for the financial year ended March 31, 2026, pursuant to Regulation 3(5) and 3(6) of SEBI (PIT) Regulations, 2015. The revised filing addresses queries raised by the National Stock Exchange on August 20, 2026, and August 27, 2026. Certified by Practicing Company Secretary Mayank Arora, the company reported capturing all 3 required Unpublished Price Sensitive Information (UPSI) events during the year with zero non-compliances observed.

Revised SDD certificate filed in response to NSE queries dated August 20, 2026 and August 27, 2026
Company was required to capture 3 UPSI events during FY ended March 31, 2026, and successfully captured all 3 events
No non-compliance was observed and no remedial actions were required during the period
SDD maintained internally with an audit trail and capability to retain records for 8 years

💡 This is a routine regulatory compliance document confirming adherence to SEBI insider trading norms; no direct action is required.

Ambani Orgochem Allots 2.80 Lakh Equity Shares on Final Warrant Conversion

🟡 NEUTRAL ⭐ 3/10

FUNDRAISE 📅 19 Aug 2026, 04:31 PM

Ambani Orgochem Limited has allotted 2,80,190 equity shares of face value Rs 10 each at an issue price of Rs 90 per share pursuant to the conversion of remaining warrants. The company received the balance 75% subscription amount (Rs 67.50 per warrant) totaling approximately Rs 1.89 crore from non-promoter allottees. With this allotment, zero warrants remain pending for conversion from the original 12.60 lakh warrant issue of February 2025. Post-allotment, MNS Securities Limited increased its holding to 7.85%, while Chintan Vidyut Shah holds 1.07%.

Allotted 2,80,190 equity shares at an issue price of Rs 90 per share (total value Rs 2.52 crore).
Received balance 75% subscription amount of Rs 67.50 per warrant from two non-promoter allottees.
MNS Securities Limited allotted 1,85,190 shares, raising its stake from 5.96% to 7.85%.
Chintan Vidyut Shah allotted 95,000 shares, taking stake to 1.07%.
Zero warrants remain outstanding from the 12,60,000 warrants issued in February 2025.

💡 Track subsequent shareholding pattern updates and the utilization of warrant proceeds toward ongoing working capital or Dahej Phase 2 capex.

Ambani Orgochem Allots 2.80 Lakh Equity Shares on Warrant Conversion Worth Rs 2.52 Cr

🟡 NEUTRAL ⭐ 3/10

FUNDRAISE 📅 19 Aug 2026, 04:24 PM

The Board of Directors of Ambani Orgochem Limited approved the allotment of 2,80,190 equity shares of face value Rs 10 each at an issue price of Rs 90 per share, following the conversion of the remaining convertible warrants. The company received the final 75% tranche of Rs 67.50 per warrant, aggregating to total share allotment value of Rs 2.52 crore. The shares were allotted to two non-promoter entities: Chintan Vidyut Shah (95,000 shares; 1.07% post-issue) and MNS Securities Limited (1,85,190 shares; 7.85% post-issue). With this allotment, zero warrants from the February 2025 preferential issue remain pending for conversion.

Allotted 2,80,190 equity shares of face value Rs 10 each at an issue price of Rs 90 (including premium).
Total value of the converted equity shares stands at Rs 2,52,17,100 (Rs 2.52 crore).
Received balance 75% subscription amount of Rs 67.50 per warrant prior to allotment.
Post-issue holdings: MNS Securities Limited holds 7.85% (7,00,000 shares) and Chintan Vidyut Shah holds 1.07% (95,000 shares).
Zero warrants remain outstanding from the 12,60,000 convertible warrants issued in February 2025.

💡 Track subsequent shareholding pattern updates and the utilization of funds toward working capital or ongoing Dahej Phase 2 expansion.

View All AMBANIORGO Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Revenue grew 33.51% YoY to INR 109.15 Cr in H1 FY26, primarily driven by the stabilization of the Dahej unit and an increased share of value-added Salicylates. Specific percentage splits by segment are not disclosed.

Geographic Revenue Split

The company exports to Nigeria and Vietnam, but the specific percentage contribution from each region is not disclosed in available documents.

Profitability Margins

Net Profit turned positive at INR 19.07 Lakhs in H1 FY26 compared to a loss of INR 178.48 Lakhs in H1 FY25. Net profit margin remains thin at approximately 0.17%.

EBITDA Margin

EBITDA Margin improved to 7.16% in H1 FY26 from 5.46% in H1 FY25, an increase of 170 bps. EBITDA surged 76.77% YoY to INR 7.92 Cr due to better product-mix and supply chain efficiencies.

Capital Expenditure

The company undertook a capital expenditure of INR 18 Cr for setting up Phase 2 of the new facility at Dahej, Gujarat.

Credit Rating & Borrowing

Long-term rating is IVR BB+/Stable and short-term rating is IVR A4+. The outlook was revised from Positive to Stable due to delays in commercial operations at the Dahej project.

⚙️ Operational Drivers

Raw Materials

The company processes specialty chemicals including Organic Peroxide, Salicylic Acid, and Salicylic Derivatives. Specific raw material names and their cost percentages are not disclosed.

Capacity Expansion

Current combined capacity at Tarapur is 15,840 MTPA. The company expanded production capacity to 24,000 tons by 2019 and is currently implementing Dahej Phase 2 expansion.

Raw Material Costs

Raw material costs are not explicitly stated as a percentage of revenue, but the company is focusing on supply chain efficiency to control operating costs.

Manufacturing Efficiency

Manufacturing efficiency is being targeted through supply chain optimization and stabilizing new units to improve EBITDA margins by 170 bps.

📈 Strategic Growth

Expected Growth Rate

33.51%

Growth Strategy

Growth will be achieved by stabilizing the Dahej unit, increasing the share of value-added Salicylates, and focusing on supply chain efficiency. The company expects meaningful improvement in margins over the next few quarters as these efforts unfold.

Products & Services

Water-based specialty chemicals, Organic Peroxide, Salicylic Acid, Salicylic Derivatives, acrylic emulsions, acrylic polymers, thickeners, and paint driers.

Brand Portfolio

Ambani Orgochem Limited (formerly Ambani Organics Limited).

New Products/Services

Value-added Salicylates and Salicylic Derivatives are the primary new focus areas for margin expansion.

Market Expansion

Expansion is focused on the Dahej facility in Gujarat and increasing export presence in markets like Nigeria and Vietnam.

🌍 External Factors

Industry Trends

The specialty chemicals industry is growing but remains highly competitive. Future trends involve a shift toward value-added derivatives and sustainable growth through supply chain efficiency.

Competitive Landscape

Faces intense competition from numerous players in the specialty chemicals sector, which limits pricing power.

Competitive Moat

The company's moat is built on 30+ years of experience, experienced promoters (Mr. Rakesh Shah), and a diversified product portfolio serving critical industries like Pharmaceuticals and Home Care.