Latest news with #TransferAgreement
Mint
16-07-2025
- Business
- Mint
Earnings Impact! Geojit Financial shares slip over 6% as Q1 profit plummets 37%
Shares of Geojit Financial Services tumbled over 6 percent on Wednesday, July 16, after the brokerage released underwhelming first-quarter results for FY26. A steep 37 percent year-over-year drop in consolidated net profit to ₹ 28.67 crore rattled investors, overshadowing the firm's strategic updates and leading to renewed scrutiny of its financial health. Geojit Financial reported a sharp decline in both net and pre-tax profits. Consolidated net income fell to ₹ 28.67 crore from ₹ 45.49 crore in Q1 FY25, marking an 11 percent sequential drop from ₹ 32.12 crore in Q4 FY25. The company's profit before tax (PBT) also dropped significantly, falling 39 percent year-over-year to ₹ 36.64 crore from ₹ 59.74 crore, and dipping 8 percent sequentially. A key contributor to the reduced profitability was a decline in revenue. Total consolidated revenue for the quarter slid 15 percent year-over-year to ₹ 153.30 crore, down from ₹ 181.18 crore in the previous year. Sequentially, revenue decreased by 14 percent compared to ₹ 177.45 crore in Q4 FY25. Similarly, EBITDA plunged 53.0 percent to ₹ 32.78 crore, down from ₹ 69.77 crore recorded in Q1 FY25 — a clear indication of contracting margins. Despite weak earnings, Geojit Financial achieved significant progress in its strategic reorganisation. In February, the company announced it had secured all necessary regulatory approvals to transfer its core securities broking, margin financing, depository participant services, and research analyst operations to its wholly-owned subsidiary, Geojit Investments Ltd (GIL). The definitive Business Transfer Agreement, signed in December 2024, stipulates the migration of operations and personnel on March 21, 2025. These segments collectively generated ₹ 300.23 crore in revenue during FY23 and represented 71.6 percent of standalone turnover. They also accounted for ₹ 336.25 crore — or 58 percent — of Geojit's standalone net worth. The transfer is expected to streamline operations and sharpen the parent company's focus on strategic growth and capital efficiency. The Q1 earnings slump triggered a sharp market reaction: shares slid to an intraday low of ₹ 77.26, plummeting about 51 percent from their 52-week high of ₹ 159.30 hit in July 2024. The stock briefly touched a 52-week low of ₹ 60.80 in March 2025 and has declined roughly 25 percent over the past year. Meanwhile, just in July so far, the stock has shed 10 percent after 4 months of gains including a 2.5 percent rise in June, a 12.8 percent jump in May, and a 4 percent increase in April. This was preceded by two weak months: a 20 percent drop in February and a 23 percent loss in January. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
08-07-2025
- Business
- Mint
Nectar Lifesciences soars around 20%, hits 52-week low after announcing ₹1,270 crore biz sale to Ceph Lifesciences
Shares of Nectar Lifesciences Ltd. plunged nearly 20 percent in intra-day trading on Tuesday, July 8, hitting a fresh 52-week low of ₹ 18.60. The sharp decline came after the company announced the strategic sale of its core Active Pharmaceutical Ingredients (API) and formulations business to Ceph Lifesciences for ₹ 1,270 crore, in a slump sale transaction. In a regulatory filing, the company confirmed that it had signed a definitive Business Transfer Agreement (BTA) with Ceph Lifesciences Private Limited for the transfer of its core operations involving manufacturing, distribution, and marketing of APIs and formulations. The total consideration for the transaction stands at ₹ 1,270 crore. Additionally, Nectar Lifesciences also signed an Asset Purchase Agreement (APA) for the sale of its menthol business assets to the same buyer for ₹ 20 crore. The transaction is part of a broader long-term strategy aimed at streamlining operations and repositioning the company for future growth. Nectar Lifesciences said the proceeds from the business divestiture will be used to repay existing debt, invest in new and emerging areas, reward shareholders (subject to regulatory approvals), and fund future corporate growth initiatives. By exiting mature and capital-intensive business segments, the company seeks to unlock shareholder value and reposition itself for innovation-driven expansion. Commenting on the development, Mr. Sanjiv Goyal, Promoter and Chairman of Nectar Lifesciences, stated: 'This transaction marks a significant milestone in Nectar Lifesciences' evolution. By divesting mature segments of our business, we are laying the foundation for a focused and agile organization geared towards innovation and long-term value creation. We thank our stakeholders for their continued trust and support as we embark on this next chapter.' According to the company's official disclosure: Buyer: Ceph Lifesciences Private Limited (a third-party, non-promoter entity) Consideration: ₹ 1,270 crore for the core API and formulations business; ₹ 20 crore for menthol business assets Completion Timeline: On or before September 20, 2025, subject to customary regulatory and shareholder approvals Shareholding Pattern: The deal will not result in any change to the company's existing shareholding structure. The Board of Directors of Nectar Lifesciences approved the deal on July 7, 2025, and an Extraordinary General Meeting (EGM) has been scheduled for August 4, 2025, to seek shareholder approval. Following the announcement, investor sentiment turned sharply negative. The stock plummeted 19.6 percent to a 52-week low of ₹ 18.60. It is now trading nearly 67 percent below its 52-week high of ₹ 56.39, which it had touched in September 2024. Over the past one year, the stock has shed more than 26 percent of its value. In the current month alone, the stock is down over 14 percent after recording an 18 percent loss in June. Notably, the counter had gained 23 percent in May but had remained under pressure in the first four months of the calendar year, registering declines of 4 percent in April, 13 percent in March, 22 percent in February, and 13 percent in January. Nectar Lifesciences Ltd. is a BSE and NSE-listed pharmaceutical company known for its research-driven approach and global distribution of high-quality APIs and finished formulations. The company has a long-standing focus on operational excellence and value creation. The current transaction marks a pivotal shift in Nectar's strategic roadmap as it pivots toward higher-value and possibly less capital-intensive verticals in the healthcare space.
Mint
08-07-2025
- Business
- Mint
Nectar Lifesciences soars around 20%, hits 52-week low after announcing ₹1,270 crore biz sale to Ceph Lifesciences
Shares of Nectar Lifesciences Ltd. plunged nearly 20 percent in intra-day trading on Tuesday, July 8, hitting a fresh 52-week low of ₹ 18.60. The sharp decline came after the company announced the strategic sale of its core Active Pharmaceutical Ingredients (API) and formulations business to Ceph Lifesciences for ₹ 1,270 crore, in a slump sale transaction. In a regulatory filing, the company confirmed that it had signed a definitive Business Transfer Agreement (BTA) with Ceph Lifesciences Private Limited for the transfer of its core operations involving manufacturing, distribution, and marketing of APIs and formulations. The total consideration for the transaction stands at ₹ 1,270 crore. Additionally, Nectar Lifesciences also signed an Asset Purchase Agreement (APA) for the sale of its menthol business assets to the same buyer for ₹ 20 crore. The transaction is part of a broader long-term strategy aimed at streamlining operations and repositioning the company for future growth. Nectar Lifesciences said the proceeds from the business divestiture will be used to repay existing debt, invest in new and emerging areas, reward shareholders (subject to regulatory approvals), and fund future corporate growth initiatives. By exiting mature and capital-intensive business segments, the company seeks to unlock shareholder value and reposition itself for innovation-driven expansion. Commenting on the development, Mr. Sanjiv Goyal, Promoter and Chairman of Nectar Lifesciences, stated: 'This transaction marks a significant milestone in Nectar Lifesciences' evolution. By divesting mature segments of our business, we are laying the foundation for a focused and agile organization geared towards innovation and long-term value creation. We thank our stakeholders for their continued trust and support as we embark on this next chapter.' According to the company's official disclosure: Buyer: Ceph Lifesciences Private Limited (a third-party, non-promoter entity) Consideration: ₹ 1,270 crore for the core API and formulations business; ₹ 20 crore for menthol business assets Completion Timeline: On or before September 20, 2025, subject to customary regulatory and shareholder approvals Shareholding Pattern: The deal will not result in any change to the company's existing shareholding structure. The Board of Directors of Nectar Lifesciences approved the deal on July 7, 2025, and an Extraordinary General Meeting (EGM) has been scheduled for August 4, 2025, to seek shareholder approval. Following the announcement, investor sentiment turned sharply negative. The stock plummeted 19.6 percent to a 52-week low of ₹ 18.60. It is now trading nearly 67 percent below its 52-week high of ₹ 56.39, which it had touched in September 2024. Over the past one year, the stock has shed more than 26 percent of its value. In the current month alone, the stock is down over 14 percent after recording an 18 percent loss in June. Notably, the counter had gained 23 percent in May but had remained under pressure in the first four months of the calendar year, registering declines of 4 percent in April, 13 percent in March, 22 percent in February, and 13 percent in January. Nectar Lifesciences Ltd. is a BSE and NSE-listed pharmaceutical company known for its research-driven approach and global distribution of high-quality APIs and finished formulations. The company has a long-standing focus on operational excellence and value creation. The current transaction marks a pivotal shift in Nectar's strategic roadmap as it pivots toward higher-value and possibly less capital-intensive verticals in the healthcare space. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
The Print
01-06-2025
- Business
- The Print
IFB Agro to acquire Cargill India's shrimp and fish feed biz
The transaction, subject to the execution of a definitive Business Transfer Agreement (BTA), is expected to be completed by July 31, 2025. The acquisition – on a slump sale basis – includes Cargill India's manufacturing facilities at Vijayawada and Rajahmundry in Andhra Pradesh, along with feed formulations, assets, business contracts, liabilities, licenses, employees, and other associated resources, the company said in a regulatory filing. Kolkata, May 30 (PTI) IFB Agro Industries Ltd on Friday said its board has approved a proposal to acquire the entire commercial shrimp and freshwater fish feed business of Cargill India, marking a strategic move to consolidate its aqua feed operations. The consideration will be paid in cash, though the specific value will be disclosed in the final agreement, IFB said. The move aligns with IFB Agro's strategy to grow its presence in the aqua feed segment, the company said. Cargill India, incorporated in 1996, is a major player in the Indian animal nutrition sector and also operates in grain, oilseed and the food ingredient market. PTI BSM RBT This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
News18
30-05-2025
- Business
- News18
IFB Agro to acquire Cargill India's shrimp and fish feed biz
Last Updated: Kolkata, May 30 (PTI) IFB Agro Industries Ltd on Friday said its board has approved a proposal to acquire the entire commercial shrimp and freshwater fish feed business of Cargill India, marking a strategic move to consolidate its aqua feed operations. The acquisition – on a slump sale basis – includes Cargill India's manufacturing facilities at Vijayawada and Rajahmundry in Andhra Pradesh, along with feed formulations, assets, business contracts, liabilities, licenses, employees, and other associated resources, the company said in a regulatory filing. The transaction, subject to the execution of a definitive Business Transfer Agreement (BTA), is expected to be completed by July 31, 2025. The consideration will be paid in cash, though the specific value will be disclosed in the final agreement, IFB said. The move aligns with IFB Agro's strategy to grow its presence in the aqua feed segment, the company said. Cargill India, incorporated in 1996, is a major player in the Indian animal nutrition sector and also operates in grain, oilseed and the food ingredient market. PTI BSM RBT
