Akhil Retail Private Limited has reduced its shareholding in Mena Mani Industries Limited by disposing of 25,08,488 equity shares through open market sales. The transaction, executed between June 18 and July 8, 2026, lowered the acquirer's stake in the company from 9.34% to 7.18% of the total voting capital. The disclosure was submitted to BSE Limited under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The disposal involved only Akhil Retail Private Limited, while the Persons Acting in Concert (PAC)—Mrudula Kumarpal Shah, Akhil Harshul Shah, Harshul Kumarpal Shah, and Mita Harshul Shah—did not trade any shares during this period. The total equity share capital of Mena Mani Industries Limited remains Rs. 11,62,06,947, divided into 11,62,06,947 equity shares of face value Re. 1 each. The acquirer clarified that it does not belong to the promoter or promoter group of the target company.

Shareholding Details

The following table outlines the changes in shareholding for Akhil Retail Private Limited and its PACs before and after the disposal:

Transaction Parameters

The shares were sold exclusively via the open market route. The total diluted share capital of the target company remained unchanged at 11,62,06,947 equity shares. The filing confirmed that no other instruments such as warrants or convertible securities were involved in the transaction, and no shares were encumbered or invoked during the period.

Mena Mani Industries Limited returned to profitability in the financial year ended March 31, 2026, reporting a net profit of ₹17.02 lakh compared to ₹14.51 lakh in the previous year. The turnaround was supported by a significant increase in total revenue, which rose to ₹1,662.20 lakh for the year from ₹1,310.33 lakh in FY25. The company's board approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026.

Financial Performance

For the quarter ended March 31, 2026, the company recorded a net profit of ₹5.12 lakh, reversing the loss of ₹48.74 lakh reported in the same period of the previous year. Revenue from operations for the quarter stood at ₹428.76 lakh. Total expenses for the year were managed at ₹1,637.67 lakh, slightly higher than the ₹1,243.25 lakh incurred in the prior year, primarily driven by increased purchase of stock-in-trade which totaled ₹1,597.75 lakh.

Key Metrics and Ratios

The company's earnings per share (EPS) for the full year improved to ₹0.01 from ₹0.145 in the previous year. Paid-up equity share capital increased to ₹1,162.07 lakh as of March 31, 2026, up from ₹1,003.47 lakh in the previous year, following a preferential allotment of shares. Reserves excluding revaluation reserves turned positive at ₹40.44 lakh compared to a negative balance of ₹1,087.77 lakh in the prior year.

Acquisition and Auditor's Report

During the quarter ended March 31, 2026, the company acquired a 100% equity stake in JKV Solutions Limited on March 9, 2026, via a share swap arrangement, making it a wholly-owned subsidiary. The statutory auditors, M/s. N.S. Nanavati & Co., Chartered Accountants, issued an audit report with an unmodified opinion on the standalone and consolidated financial results. The auditors noted an error in the balances of the Duties and Taxes Account in prior periods, which has been corrected by restating the affected financial statement line items in accordance with Ind AS 8 and Ind AS 1.