Ernst & Young | Business Upturn

Kajaria Ceramics announces Rs 296.70 crore buyback at Rs 1380 per share

Arunika Jain — Thu, 30 Apr 2026 09:37:09 +0000

Kajaria Ceramics has announced a buyback of its fully paid-up equity shares, with the Board of Directors approving the move during a meeting held on April 30, 2026. The buyback will involve up to 21.50 lakh equity shares, representing 1.35% of the company’s total paid-up capital as of March 31, 2026. The buyback price is set at ₹1380 per share, with the total consideration not exceeding ₹296.70 crore.

The buyback is to be conducted through the ‘Tender offer’ route, using mechanisms for acquisition of shares through stock exchange as prescribed under the SEBI (Buy-Back of Securities) Regulations, 2018. This buyback represents 10.27% and 9.87% of the aggregate of the company’s paid-up capital and free reserves as per the audited standalone and consolidated financial statements for the year ended March 31, 2026, respectively.

The buyback offer price represents a premium of 15.57% and 15.73% over the closing price of the equity shares on NSE and BSE, respectively, as of April 21, 2026. The buyback is subject to shareholder approval via a special resolution through postal ballot and other statutory approvals in accordance with applicable law.

In addition to the buyback, the board approved several other measures, including the audited financial results for the quarter and year ended March 31, 2026, a final dividend of ₹6 per equity share, and the appointment of M/s Ernst & Young LLP as internal auditors for the financial year 2026-27. The company also plans to expand its manufacturing facility at Srikalahasti, Andhra Pradesh, by increasing its annual production capacity by 10 MSM.

Kajaria Ceramics will also subscribe to 4.5 crore non-convertible redeemable preference shares of Kerovit Global Private Limited for ₹45 crore and acquire 44,11,764 compulsorily convertible preference shares of Kajaria Bathware Private Limited for ₹50 crore.

The board has constituted a ‘Buyback Committee’ to oversee the process and appointed Mr. Vinit Kumar as the Compliance Officer. Nuvama Wealth Management Limited has been appointed as the manager to the buyback. The promoters and members of the promoter group have expressed their intention not to participate in the buyback.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Kajaria Ceramics announces Rs 296.70 crore buyback at Rs 1,380 per share

Arunika Jain — Thu, 30 Apr 2026 09:32:57 +0000

Kajaria Ceramics has announced a buyback of its fully paid-up equity shares at a price of ₹1,380 per share, totalling an aggregate amount of ₹296.70 crores. This decision was made during the company’s board meeting held on April 30, 2026.

The buyback will encompass up to 21.50 lakh equity shares, representing 1.35% of the company’s total paid-up capital as of March 31, 2026. The buyback will be executed through the ‘Tender offer’ route, adhering to the SEBI (Buy-Back of Securities) Regulations, 2018, and other related statutory provisions.

The buyback offer price is set at a premium of 15.57% and 15.73% over the closing price of the equity shares on NSE and BSE, respectively, as of April 21, 2026. This date was the day before the board meeting notification was sent to the stock exchanges.

The board has also approved several other key decisions, including a final dividend of ₹6 per equity share, the appointment of Ernst & Young LLP as internal auditors for the financial year 2026-27, and the expansion of the Srikalahasti manufacturing facility in Andhra Pradesh.

Kajaria Ceramics will subscribe to 4.5 crore non-convertible redeemable preference shares of Kerovit Global Private Limited, valued at ₹45 crores. Additionally, the company will acquire 44,11,764 compulsorily convertible preference shares of Kajaria Bathware Private Limited for ₹50 crores.

The board has constituted a ‘Buyback Committee’ to oversee the process and appointed Vinit Kumar as the compliance officer. Nuvama Wealth Management Limited will manage the buyback.

The promoter and promoter group of Kajaria Ceramics have expressed their intention not to participate in the buyback. The record date for determining eligible shareholders will be decided by the board or the buyback committee in due course.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Himadri Speciality Chemical declares Rs 0.80 per share dividend for FY26

Yash Agarwal — Thu, 23 Apr 2026 11:12:51 +0000

Himadri Speciality Chemical has announced a final dividend of ₹0.80 per equity share for the financial year 2025-26, subject to shareholder approval. This decision was made during the company’s Board of Directors meeting held on 23 April 2026, where several key resolutions were passed.

The board approved the audited financial results for both standalone and consolidated accounts for the quarter and financial year ended 31 March 2026. These results, along with the statement of assets and liabilities and cash flow statements, were enclosed in the company’s regulatory filing.

In addition to the financial results, the board also re-appointed M/s Ernst & Young, LLP as the internal auditor for the financial year 2026-27. Furthermore, Mr. Sambhu Banerjee was appointed as the cost auditor for the same period.

The board also approved the re-appointment of two independent directors, Mr. Girish Paman Vanvari and Mr. Gopal Ajay Malpani, for a second term of five years, starting from 22 June 2026 and 13 August 2026, respectively. Both directors have confirmed their independence as per the regulatory requirements.

In a strategic move, the board has given the green light for the incorporation of a wholly-owned subsidiary in Guangzhou, China, pending necessary regulatory approvals.

The board meeting commenced at 12:00 p.m. and concluded at 4:00 p.m. on 23 April 2026. More detailed information can be found on the company’s website.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Deepak Fertilisers re-appoints Ernst & Young as internal auditors for FY 2026-27

Arunika Jain — Thu, 26 Mar 2026 10:47:48 +0000

Deepak Fertilisers and Petrochemicals Corporation has announced the re-appointment of Ernst & Young LLP as its internal auditors for the financial year 2026-27. The decision was made during the company’s board meeting held on 26th March 2026.

The re-appointment of Ernst & Young, a global leader in assurance, tax, transaction, and advisory services, was based on the recommendation of the Audit Committee. The firm is registered as a Limited Liability Partnership under the Limited Liability Partnership Act, 2008 in India.

The board meeting, which commenced at 11:00 a.m. and concluded at 3:55 p.m., approved the re-appointment as part of its agenda. The details of the re-appointment have been disclosed as per the requirements of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular dated 30th January 2026.

Deepak Fertilisers has made this information available on its official website, ensuring transparency and compliance with regulatory obligations.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

GAIL bifurcation plan put on hold by Oil ministry

Sarthak Yadav — Thu, 04 Feb 2021 09:35:48 +0000

Gas Authority Of India Ltd. (GAIL) bifurcation plan is put on hold by the Ministry of Petroleum and Natural Gas. The state owned natural gas processing and distribution company was under a plan of divison in two broad sectors but due to financial shortcomings for the massive infrastructure building plan, the hold was initiated.

GAIL is India’s biggest natural gas marketing and trading firm and owns 60% of the country’s 26,284-km gas pipeline network, giving it a stranglehold on the market.

To resolve the issue, it was proposed that GAIL’s pipeline business should be hived off into a separate entity.

A ministry official involved in the decision making process said, “GAIL has massive plans to double its pipeline network to 34,000 km and there is a realisation that its ability to borrow funds to fund these should not be hampered.”

The government’s plan was to divide GAIL into two companies for gas transmission and marketing business and the state run company had entrusted Ernst &Young as a consultant for this. The move was seen as a step to bring more transparency into the country’s gas market.

Creating pipeline infrastructure, which will take the environment friendly fuel to unconnected places in the country, is key to the government objective of making India a gas based economy. The government is targeting raising the share of natural gas in its energy basket to 15% by 2030 from the current 6.2%.

GAIL is said to monetise some of its pipelines by selling a minority stake through instruments like Infrastructure Investment Trust (InvIT).

“The idea is transfer pipelines with steady revenue stream into a trust whose units can be sold to investors and the same can be traded on the stock exchange,” a source revealed, adding GAIL will upfront get money from such a sale that can be used for capital expenditure.

To start with, GAIL plans to monetise Dahej-Uran-Panvel-Dabhol pipeline and Dabhol-Bengaluru pipeline.

GAIL owns and operates a natural gas pipeline network that spans 15,673.3 kilometres, mostly in the western, southern and northern parts of the country. It is building more pipelines in the eastern part of the country. The government has a 54.89% stake in GAIL.

The bifurcation of GAIL was planned to address complaints of natural gas users about not getting fair access to the GAIL pipeline network to transport their fuel.

The conflict arising out of the same entity owning two jobs can be resolved with the setting up of an independent transport system operator (TSO), which will manage the common carrier capacity of GAIL and other pipelines in the country,

EY obtains AI-enabled Indian skilling platform Spotmentor Technologies

Akanksha Yadav — Mon, 16 Nov 2020 07:00:18 +0000

Professional services’ major player, Ernst & Young on Monday announced that it had acquired Spotmentor Technologies, an AI-enabled reskilling and upskilling Indian platform. Inaugurated in 2016, Spotmentor Technologies is known to help large enterprises, the governmental and industrial bodies to identify the required skill and competency gaps through hyper-personalised learning and reskilling plans.

With this acquisition, EY plans to strengthen its people advisory portfolio of digital services to support businesses with their skilling needs by making use of technologies such as artificial intelligence and machine learning to cope with the future of the work.

“It remains our priority to enable clients with tools and resources to help them adapt to rapid changes and navigate market disruptions in the new normal,” Rohan Sachdev, Partner and Consulting Leader, Ernst & Young India said.

“The acquisition of Spotmentor Technologies will boost our digital offerings, combining our strengths in strategic people consulting and seasoned experience in learning and skills development, now delivered to clients through an intelligent technology platform. This reinforces our continued commitments and investments in technology and strategic acquisitions to further our range of digital offerings,” Sachdev added.

Post-acquisition, EY Spotmentor will be a Software-as-a-Service which will be deployed across an organisation’s value chain. The upcoming platform will include features such as real-time market intelligence on new skillsets, 360-degree assessment of employees based on skills industry benchmarking and real-time identification and closure of skill gaps and will provide hyper-personalised learning pathways and identify reskilling opportunities in organisations.

“It is also designed to provide easy access to quality content, curated learning plans and offers a real-time skill inventory health index,” EY emphasised.

“Over the past year, we have collaborated with the Spotmentor Technologies team to equip our clients with the right skillsets and they have benefitted immensely from this association. This new technology solution further strengthens our people advisory portfolio of digital services, enabling us to effectively harness our client’s people agenda as part of an integrated business strategy,” Anurag Malik, Partner, People Advisory Services, EY India, said.

YES Bank in talks to sell its NPA worth Rs 32,344 crore to ARC’s

Akanksha Yadav — Mon, 02 Nov 2020 18:25:52 +0000

YES Bank is actively looking to sell its non-performing assets worth Rs 32,344 crores to asset reconstruction companies and other potential investors and has appointed E&Y to advise it on the sale. Several asset reconstruction companies (ARCs) have been sounded off by E&Y to submit their bids for the book and hence they will be submitting their bids soon.

YES Bank has a gross NPA (GNPA) of Rs 32,344 crores and has already made provisions for Rs 24,476 crore which represents 76 percent of its gross NPA (GNPA). GNPA on books post such provisions is now only Rs, 7,868 crores. The sale of the NPA book will help the bank regain its lost status in the banking industry, which was scarred by a scandal which involved its former promoter, Rana Kapoor.

According to the information received from the sources, YES Bank’s offer to ARC’s is aimed at helping the bank recover at least 15 percent of the amount that is Rs 5000 crores upfront and the remaining 10 percent that is Rs 3000 crores may be a potential recovery through deferred payments.

According to the sources, NPA sale proposal has been approved the board of YES bank to enable its speedy recovery and help it clean up its balance sheet.