Jyotsna Poddar Acquires 3 Lakh Shares in Zuari Industries: A Strategic Move
Jyotsna Poddar is set to acquire 3,00,000 shares, representing 1.01% of Zuari Industries Limited's share capital, through an inter-se transfer from Akshay Poddar. This transaction, structured as a gift between promoter relatives, involves no monetary consideration. Post-transaction, Jyotsna Poddar's stake will increase to 2.25%, while Akshay Poddar's will decrease to 0.07%. The acquisition is compliant with SEBI regulations and is scheduled for on or after December 19, 2025.
The acquisition disclosure was filed on December 13, 2025, under Regulation 10 of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011. The proposed date of acquisition is on or after December 19, 2025. The transaction will result in significant changes to the shareholding pattern of both parties involved. Jyotsna Poddar will hold 6,71,621 shares (2.25%) after the acquisition, up from 3,71,621 shares (1.24%). Conversely, Akshay Poddar's holdings will drop to 20,384 shares (0.07%) from 3,20,384 shares (1.08%).
The disclosure confirms that both parties are promoters of Zuari Industries Limited prior to the transaction. Jyotsna Poddar has declared compliance with all conditions specified under Regulation 10(1)(a) regarding exemptions from making an open offer. The acquirer has also confirmed that disclosure requirements under Regulation 29 of the SAST Regulations have been made through system-driven disclosure, with separate copies of disclosure under Regulation 31(4) provided.
As part of the regulatory filing, both Jyotsna Poddar and Akshay Poddar have submitted declarations under Regulation 31(4) of SEBI SAST Regulations for multiple financial years. They have confirmed no encumbrance on company shares other than those already disclosed to stock exchanges and the company during the financial years ended March 31, 2023, 2024, and 2025.
Zuari Industries Limited (ZIL) has reported a robust performance for the second quarter, marked by significant improvements in ethanol production and financial metrics. The company's strategic focus on its sugar, ethanol, and real estate businesses continues to drive growth and operational efficiency. Key highlights include a 44% increase in ethanol production, an improvement in EBITDA from INR 3.5 crores to INR 8.9 crores, and a reduction in finance costs by INR 3 crores. Sugar realization increased by 5.7% year-on-year, and the distillery achieved a record 311 operating days.
ZIL's financial results for Q2 demonstrate substantial improvements across key metrics. Revenue decreased slightly by 1.4% to INR 204.50 crores, but EBITDA improved by 154.3% to INR 8.90 crores. The company turned profitable with a PAT of INR 3.50 crores, compared to a loss of INR 23.90 crores in the previous year. The company's EBITDA margin improved significantly, driven by higher sugar realizations and increased power rates from UPPCL.
Operational highlights include a decrease in sugar sales volume to 3.6 lakh quintals from 4.2 lakh quintals, an improvement in sugar realization to INR 4,033 per quintal from INR 3,815 per quintal, and a 44% increase in ethanol production. The distillery operated for a record 311 days, and ethanol sales volume increased by 7.6% for the quarter. In the real estate sector, Zuari Infra World has a gross development value of INR 2,900 crores, and the St. Regis Dubai project is 86% complete, with handover expected by March 2026.
Strategically, ZIL expects an INR 800 crores cash inflow from its Dubai real estate project starting Q2 FY27, which will be used for debt reduction. The company is also set to commission a 180 KLPD distillery through its joint venture, Zuari Envien Bioethanol Private Limited (ZEBPL). ZIL is pursuing an asset-light approach in real estate, focusing on the Development Management (DM) model for growth. The company remains optimistic about its core businesses, expecting stable EBITDA margins of 10-12% in the sugar sector and plans to expand its bioethanol capacity to 1,000 KLPD over the next 3-5 years.
