Astral Limited said its board of directors on June 25, 2026, approved a Composite Scheme of Arrangement involving the demerger of its chemicals business and the amalgamation of its wholly owned subsidiary Al-Aziz Plastics Private Limited. The scheme is among Astral Limited, Astral Chemie Limited (formerly Astral Coatings Private Limited), and Al-Aziz Plastics Private Limited and their respective shareholders.
The chemicals business undertaking of Astral Limited will be demerged and transferred to Astral Chemie Limited on a going concern basis. Astral Chemie is currently a wholly owned subsidiary of Astral Limited and is engaged in the manufacturing and supply of paints and coatings for residential, commercial, and industrial segments. Al-Aziz Plastics Private Limited will be amalgamated into Astral Limited, followed by the dissolution of the transferor company.
The turnover of the chemicals business for the year ended March 31, 2026, stood at Rs 1,266.30 crore, representing 21% of Astral Limited's total turnover of Rs 5,907.60 crore for the same period. Al-Aziz Plastics reported a turnover of Rs 37.30 crore and a net worth of Rs 21.50 crore as on March 31, 2026.
Under the share exchange ratio, Astral Chemie Limited will issue one equity share of face value Rs 1 for every one equity share of face value Rs 1 held in Astral Limited. The existing equity shares of Astral Chemie held by Astral Limited will stand cancelled. The equity shares of the resulting company will be listed on the National Stock Exchange of India and BSE Limited. There will be no change in the shareholding pattern of Astral Limited under the scheme.
The post-scheme shareholding pattern of the resulting company will mirror that of Astral Limited, with promoters holding 54.22% and public shareholders holding 45.78%. The scheme is subject to approvals from the National Company Law Tribunal, Ahmedabad Bench, SEBI, the stock exchanges, and other statutory and regulatory authorities. The board meeting commenced at 4:30 PM and concluded at 6:45 PM on June 25, 2026.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.