The buy-back and auditor appointment in numbers
| Item | Detail |
|---|
| Buy-back route | Open market, through NSE and BSE |
|---|
| Maximum buy-back size | ₹90 crore, excluding transaction costs |
|---|
| Maximum buy-back price | ₹7,500 per equity share, payable in cash |
|---|
| Indicative maximum shares | 1,20,000, or 0.41% of 2,94,41,755 outstanding |
|---|
| Cap on shares bought back | Not more than 25% of total equity shares |
|---|
| Proposed statutory auditor | Price Waterhouse Chartered Accountants LLP, five consecutive years from the 50th AGM in 2027 to the 55th AGM in 2032 |
|---|
Buy-back size against reserves and share count
The maximum buy-back size is 1.72% of paid-up equity share capital and free reserves, including securities premium, in the audited standalone statements for the year ended 31 Mar 2026, and 1.69% in the audited consolidated statements.
At the maximum price, ₹90 crore buys 1,20,000 shares, which the filing gives as 0.41% of outstanding equity. The number bought back will depend on the prices actually paid, and will not exceed 25% of total equity shares. The buy-back is open only to shareholders other than promoters, the promoter group and persons in control of the company.
Promoter and public holdings before and after
Before the buy-back, promoters and the promoter group hold 1,33,47,013 shares, or 45.33%, and the public holds 1,60,94,742 shares, or 54.67%, of 2,94,41,755 shares as on 23 Oct 2026.
If the maximum 1,20,000 shares are bought back, the total falls to 2,93,21,755 shares. The promoter count stays at 1,33,47,013 shares, and its share rises to 45.52%, so the percentage moves while the number held does not. The public share is shown as 54.48%.
Auditor change and review of the results
The Audit Committee recommended, and the Board approved on 23 Oct 2026, the appointment of Price Waterhouse Chartered Accountants LLP as statutory auditor, subject to shareholder approval. Deloitte Haskins & Sells LLP, the current auditor and in its second five-year term, will continue until the 50th AGM in 2027.
The limited review reports on the standalone and consolidated results for the quarter and six months ended 30 Sep 2026 contain no modification. The consolidated review did not cover interim information of 3 subsidiaries, and 36 subsidiaries were not reviewed by their own auditors.
What the buy-back and auditor change mean for Atul's shareholders
Atul is offering to buy back up to ₹90 crore of its shares from holders other than promoters, and the share count would fall by the number actually bought back. The filing does not say why the buy-back is being made, when it will run, whether it will be completed at the maximum size or price, or why the auditor is changing before Deloitte's term ends; it also does not say whether shareholders have approved Price Waterhouse.
The next dated step is the 50th AGM in 2027, where the auditor appointment is subject to shareholder approval. The filing says a public announcement with the buy-back process and timelines will be released in due course.
Reference: Original filing (PDF)
