NCLT approves Sequent Scientific-Viyash Lifesciences merger

Sequent Scientific Limited announced on November 18, 2025, that the National Company Law Tribunal, Hyderabad Bench, has approved the composite scheme of amalgamation with Viyash Lifesciences Private Limited and other group companies. This approval follows previous disclosures made earlier in the year. The Appointed Date of the Scheme is April 1, 2025, with a written order from the Tribunal still awaited.

The merger is expected to create the largest animal health player from India, leveraging combined strengths in R&D, manufacturing, and supply chain. For the first half of fiscal year 2026 (H1FY26), the combined entity reported aggregated revenues of INR 16.5bn, a 12.6% year-over-year increase, and an EBITDA of INR 3.2bn, up 48% year-over-year, with a Net Debt to EBITDA ratio of 0.7x. Second-quarter (Q2 FY26) revenues were INR 8,521 Million (+16% YoY) and EBITDA was INR 1,890 Million (+76% YoY), with an EBITDA margin of 22.2%.

Synergy realization is a key focus for the next 12 months, with R&D teams co-located, and API R&D fully integrated, leading to accelerated development of new animal health products. The merger also seeks to capitalize on the fast-growing Companion Animal Health segment and the genericization of Animal Health, aiming to build a world-class business with new benchmarks in quality, innovation, and customer trust.