ANMOL - Anmol India
📢 Recent Corporate Announcements
Anmol India Limited reported a strong performance for the quarter ended December 31, 2025, with revenue from operations reaching ₹303.16 crore, a 19.7% increase compared to ₹253.32 crore in the same quarter last year. The net profit saw a massive surge to ₹2.94 crore from just ₹0.38 crore in Q3 FY25, indicating a significant improvement in margins. On a nine-month basis, the company's PAT grew to ₹8.79 crore from ₹5.39 crore in the previous year. The basic EPS for the quarter improved significantly to ₹0.52 from ₹0.07 YoY.
- Revenue from operations grew 19.7% YoY to ₹303.16 crore in Q3 FY26.
- Net profit (PAT) surged by over 670% YoY to ₹2.94 crore from ₹0.38 crore.
- Profit Before Tax (PBT) increased to ₹3.93 crore compared to ₹0.51 crore in the year-ago period.
- Nine-month (9M FY26) revenue stood at ₹1,108.06 crore, up from ₹960.03 crore in 9M FY25.
- Basic EPS for the quarter rose to ₹0.52 from ₹0.01 in the preceding quarter (Q2 FY26).
Anmol India Limited has filed its quarterly Reconciliation of Share Capital Audit Report for the period ending December 31, 2025. The report confirms that the total subscribed and listed capital remains unchanged at 56,914,150 shares. Notably, the company has achieved 100% dematerialization of its shares, with 86.04% held in CDSL and 13.96% in NSDL. No discrepancies were reported between the listed and subscribed capital, and there were no pending demat requests beyond 21 days.
- Total subscribed and listed capital stands at 56,914,150 shares with a face value of Rs. 10 each.
- 100% of the company's shares are held in dematerialized form, with zero physical shares.
- CDSL holds 48,971,029 shares (86.04%) while NSDL holds 7,943,121 shares (13.96%).
- No changes occurred in the share capital through rights, bonus, or preferential issues during the quarter.
- Zero dematerialization requests were pending for more than 21 days as of December 31, 2025.
Anmol India Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Share Transfer Agent, Bigshare Services Pvt Ltd, confirmed that no requests for dematerialisation or rematerialisation of shares were received during the quarter ended December 31, 2025. This filing confirms that the company's entire shareholding is already maintained in electronic form. Such disclosures are mandatory regulatory requirements for listed companies in India.
- Compliance certificate submitted for the quarter ended December 31, 2025.
- Registrar Bigshare Services Pvt Ltd confirms zero requests for demat or remat during the period.
- The company maintains 100% of its shares in dematerialized form.
- The filing adheres to the SEBI (Depositories and Participants) Regulations, 2018.
Anmol India Limited has informed the exchanges that its trading window for dealing in company securities will be closed starting January 1, 2026. This closure is in compliance with SEBI Prohibition of Insider Trading Regulations for the quarter ending December 31, 2025. The window will remain shut for all designated persons and those with access to unpublished price-sensitive information. It is scheduled to reopen 48 hours after the declaration of the quarterly financial results.
- Trading window closure effective from January 1, 2026
- Closure pertains to the financial results for the quarter ended December 31, 2025
- Window to remain closed until 48 hours after the official result declaration
- Applies to all designated persons and insiders as per SEBI regulations
Anmol India Limited held an Extraordinary General Meeting (EGM) on December 26, 2025, to approve the appointment of Mr. Ripan Kumar Goyal as a Non-Executive Independent Director. The special resolution was passed with an overwhelming majority, receiving 99.97% of the votes in favor. A total of 28,585,605 votes were polled, representing approximately 50.22% of the company's total share capital. This routine management update ensures the company remains compliant with governance requirements regarding board composition.
- Special resolution passed for the appointment of Mr. Ripan Kumar Goyal as Non-Executive Independent Director.
- The resolution received 28,578,684 votes in favor, accounting for 99.97% of the total votes polled.
- Total voter turnout represented 50.22% of the company's total share capital with 28,585,605 votes cast.
- Minimal dissent was recorded with only 6,921 votes (0.03%) cast against the resolution.
- The meeting was attended by 33 shareholders, including 4 from the promoter group and 29 from the public.
Anmol India Limited held an Extra-Ordinary General Meeting (EGM) on December 26, 2025, to seek shareholder approval for a management change. The sole agenda item was a special resolution to appoint Mr. Ripan Kumar Goyal as a Non-Executive Independent Director. Remote e-voting was conducted from December 23 to December 25, 2025, and ballot voting was provided at the venue. The final voting results will be disclosed separately following the scrutinizer's report.
- EGM held on December 26, 2025, between 10:00 A.M. and 11:55 A.M. at the Ludhiana registered office.
- Special Resolution proposed for the appointment of Mr. Ripan Kumar Goyal (DIN: 11397550) as Non-Executive Independent Director.
- Remote e-voting was available for shareholders for a 3-day period ending December 25, 2025.
- Mr. Harsh Kumar Goyal, Practising Company Secretary, was appointed as the Scrutinizer for the voting process.
Anmol India Limited held an Extra-Ordinary General Meeting (EGM) on December 26, 2025, to seek shareholder approval for a key management appointment. The primary agenda was the special resolution to appoint Mr. Ripan Kumar Goyal as a Non-Executive Independent Director. Remote e-voting was conducted between December 23 and December 25, 2025, supplemented by ballot voting at the meeting venue. The final voting results will be declared once the scrutinizer submits the consolidated report to the stock exchanges.
- EGM held on December 26, 2025, at the company's registered office in Ludhiana, Punjab.
- Proposed appointment of Mr. Ripan Kumar Goyal (DIN: 11397550) as a Non-Executive Independent Director.
- Remote e-voting facility was active from 10:00 A.M. on Dec 23 to 5:00 P.M. on Dec 25, 2025.
- Mr. Harsh Kumar Goyal, a Practising Company Secretary, was appointed as the Scrutinizer for the voting process.
- The meeting commenced at 10:00 A.M. and concluded at 11:55 A.M. on the same day.
Anmol India Limited held an Extraordinary General Meeting (EGM) on December 26, 2025, to seek shareholder approval for a management change. The primary agenda was the appointment of Mr. Ripan Kumar Goyal as a Non-Executive Independent Director via a special resolution. Remote e-voting was available from December 23 to December 25, 2025, and the final results will be disclosed following the scrutinizer's report. This move is part of the company's ongoing corporate governance and board structuring.
- EGM held on December 26, 2025, at the Ludhiana registered office.
- Special resolution proposed for the appointment of Mr. Ripan Kumar Goyal (DIN: 11397550).
- Remote e-voting period spanned from December 23, 10:00 AM to December 25, 5:00 PM.
- Final voting results to be published on stock exchanges within the prescribed regulatory timeframe.
Anmol India Limited has informed the exchanges regarding the sad demise of Mr. Kapil, a Non-Executive Director, on December 18, 2025. Mr. Kapil had been serving on the company's board since his appointment on October 1, 2024. The company acknowledged his significant contributions and thorough knowledge during his tenure. This event creates a vacancy on the board that the company will need to address in accordance with SEBI regulations.
- Demise of Non-Executive Director Mr. Kapil (DIN: 10781591) on December 18, 2025
- Director had been associated with the board since October 1, 2024
- Disclosure made pursuant to SEBI Circular dated July 13, 2023
- Company to ensure compliance with board composition requirements following the vacancy
Anmol India Limited's board meeting on December 03, 2025, approved the appointment of Mr. Ripan Kumar Goyal (DIN: 11397550) as a Non-Executive Independent Director. This appointment is subject to shareholder approval at an Extra Ordinary General Meeting (EGM). The board meeting commenced at 11:00 A.M. and concluded at 12:15 P.M.
- Mr. Ripan Kumar Goyal (DIN: 11397550) appointed as Non-executive Independent Director
- Board meeting held on December 03, 2025
- Board meeting commenced at 11.00 A.M. and concluded at 12.15 P.M.
Financial Performance
Revenue Growth by Segment
Total Operating Income (TOI) moderated by 15% to INR 1,274.27 Cr in FY25 compared to FY24. Coal trading remains the primary segment, while the newly introduced Iron and Steel trading segment contributed INR 222 Cr (approximately 17.4% of total revenue) in FY25. Q1FY26 revenue grew 10.8% YoY to INR 577.36 Cr from INR 520.93 Cr.
Geographic Revenue Split
Not specifically disclosed by percentage, but the company sources coal globally from the USA, Indonesia, and Saudi Arabia to serve the Indian domestic market.
Profitability Margins
Profitability remains moderate with FY25 PBILDT margin at 1.25% and PAT margin at 0.55%. The Net Profit Margin fell from previous levels, signaling tighter margins and lower earnings efficiency. Return on Net Worth saw a significant decline from 20.79% to 6.47% in FY25 due to lower net profits.
EBITDA Margin
EBITDA margin was 2.59% in Q4 FY23 (up 25 bps YoY). However, by FY25, the PBILDT margin moderated to 1.25% due to decreased realizations and higher operating costs. Operating profit margin dropped to 0.02% in FY25, indicating nearly no operating profit buffer from revenues.
Capital Expenditure
Not disclosed in absolute INR Cr for future plans, but the company recently invested in a strategic transformation of its end-to-end supply chain model and advanced research capabilities.
Credit Rating & Borrowing
CARE reaffirmed 'CARE BBB+; Stable' for Long Term and 'CARE A2' for Short Term facilities as of September 2025. Non-fund-based limit utilization was high at 88.11% for the 12 months ending November 2023.
Operational Drivers
Raw Materials
The company is a trader; its primary 'raw materials' or traded goods include USA Coal, Indonesian Coal, Saudi Arabian Coal, Coking Coal, Met Coke, Iron, Steel, and Chemicals.
Import Sources
Major sourcing countries include the USA, Indonesia, and Saudi Arabia. Domestic logistics are managed across India to provide last-mile delivery to small-scale manufacturing units.
Key Suppliers
Specific supplier names are not disclosed, but the top five suppliers accounted for 45.46% of total purchase costs in FY23, down slightly from 49.76% in FY22.
Capacity Expansion
As a trading entity, capacity is measured by volume and logistics. The company expanded its portfolio into Iron and Steel (contributing INR 222 Cr in FY25) and is increasing its presence in Coking Coal and Met Coke to diversify from thermal coal.
Raw Material Costs
Purchases of stock-in-trade for the half-year ended September 30, 2025, totaled INR 840.84 Cr. Procurement strategies involve back-to-back sales to mitigate price volatility and pegging imported goods to USD to pass on currency risk to customers.
Manufacturing Efficiency
Not applicable as a trading company; efficiency is measured by capital rotation and logistics optimization through advanced analytics.
Logistics & Distribution
Operating and other expenses, which include logistics, were INR 1.50 Cr for the half-year ended September 30, 2025.
Strategic Growth
Expected Growth Rate
10.80%
Growth Strategy
Growth is targeted through strategic diversification into high-value commodities like Coking Coal, Met Coke, and Iron & Steel. The company is also expanding its geographic presence and adopting an integrated end-to-end supply chain model to enhance market position and adaptability.
Products & Services
Wholesale trading of USA Coal, Indonesian Coal, Saudi Arabian Coal, Coking Coal, Met Coke, Iron, Steel, and Chemicals.
Brand Portfolio
Anmol India Limited.
New Products/Services
Iron and Steel trading (17.4% of FY25 revenue), Coking Coal, Met Coke, and Chemicals are the primary new product additions expected to drive future growth.
Market Expansion
Targeting increased market share in the small-scale manufacturing sector as more industries shift to cheaper, washed imported coal.
Market Share & Ranking
Not disclosed in absolute percentage, but the company is a listed player on BSE and NSE in the wholesale coal trading industry.
External Factors
Industry Trends
The industry is shifting toward imported coal due to its lower cost and higher quality (washed). Government initiatives in coal gasification and rising power demand are positive long-term drivers.
Competitive Landscape
Operates in a highly competitive wholesale trading market with low barriers to entry, leading to inherently thin margins (PAT margin < 1%).
Competitive Moat
Moat is based on the promoters' 35+ years of experience and established long-term relationships with global suppliers and domestic customers, which are difficult for new entrants to replicate quickly.
Macro Economic Sensitivity
Highly sensitive to global trade routes and industrial power demand. A slowdown in the manufacturing sector would directly reduce demand for traded coal and steel.
Consumer Behavior
Industrial consumers are increasingly shifting toward imported coal for efficiency, and small-scale units are growing in number, expanding the addressable market.
Geopolitical Risks
High exposure to international shipping disruptions (Red Sea) and port-specific incidents which can delay inventory turnover and increase finance costs.
Regulatory & Governance
Industry Regulations
Subject to international trade regulations, import duties on coal, and domestic environmental norms regarding coal handling and storage.
Environmental Compliance
The company is committed to sustainable business practices through its CSR policy, though specific ESG compliance costs are not disclosed.
Taxation Policy Impact
The company follows standard Indian corporate tax rates; profit before tax for the half-year ended September 2025 was INR 7.82 Cr.
Legal Contingencies
Not disclosed in available documents. Auditors identified revenue recognition as a 'Key Audit Matter' due to the risk of fraud/overstatement to meet performance targets, though no specific pending litigation values were provided.
Risk Analysis
Key Uncertainties
Volatility in international coal prices and freight rates could impact margins by more than 1-2% if not managed via back-to-back contracts.
Geographic Concentration Risk
Revenue is concentrated in India, while sourcing is concentrated in the USA, Indonesia, and Saudi Arabia.
Third Party Dependencies
High dependency on top 5 suppliers (45.46%) and top 5 customers (42.23%).
Technology Obsolescence Risk
Low risk of product obsolescence, but high risk if the company fails to digitize its supply chain and logistics tracking compared to competitors.
Credit & Counterparty Risk
Trade receivables stood at INR 2.98 Cr (adjustment in cash flow) for the half-year ended September 2025, with a focus on selling to 'big customers' to mitigate credit risk.