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Board approved Composite Scheme of Arrangement: demerger of Chemicals Business (adhesives, sealants, construction chemicals; 21% of FY26 turnover) into Astral Chemie Ltd, to be separately listed with 1:1 share issuance to existing shareholders. Simultaneous amalgamation of subsidiary Al-Aziz Plastics into Astral Ltd. Subject to NCLT, SEBI and stock exchange approvals.
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