Merger announced
As filed · Outcome of Board Meeting
M&AWatchMajormateriality 79 out of 100
What happened
FactM/s. BSE Limited. M/s. National Stock Exchange of India Limited. (“Company” or “Demerged Company”) has approved a Scheme of Arrangement between NATCO.
Why it matters
CapitSignal interpretationA merger fixes a share-exchange ratio, which permanently sets how much of the combined company existing holders own.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Guidance
RevisedEarlierQ2 FY25
I think we will end the year with another extra Rs 250 to 300 crores of extra PAT we were expecting.
NowQ2 FY25
So, we expect the cash will be around maybe Rs 2,700 crores, 2,800 crores is what we are expecting a cash will settle around.
Change
FactTarget revision
Implication
CapitSignal interpretationThe earlier statement indicated an expectation of an extra Rs 250 to 300 crores of PAT, while the current statement shifts focus to an expected cash settlement of around Rs 2,700 to 2,800 crores, which represents a significant change in the financial outlook.
Watch next
Fact- Swap ratio and its valuation basis
- Regulatory and NCLT approvals required
- Appointed date
- I think we will end the year with another extra Rs 250 to 300 crores of extra PAT we were expecting. (management committed by FY25)
- So, we expect our run rate to be around Rs 750 to 800 crores of revenue, and a PAT should be around Rs 135 to (management committed by H1 FY25)
Evidence
- Natco Pharma Limited has informed the Exchange regarding Outcome of Board Meeting held on March 24, 2026(opens the original filing in a new tab)
- Earlier statement · Q2 FY25
- Latest statement · Q2 FY25
- Earlier statement · Q2 FY25
How CapitSignal classified this
- Reasoning:
- MERGER base 74; +5 quantified amount; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%