Antariksh Industries confirmed the completion of a promoter change, with Alpitkumar Pravinchandra Gor and Riddhi Infocom Solutions LLP acquiring control of the company. The new promoters collectively hold 64.81% of the equity share capital following the acquisition of 1,50,599 shares and preferential allotments. The transaction was executed pursuant to a Share Purchase Agreement dated June 26, 2026, and subsequent regulatory filings under SEBI Listing Regulations.

Acquisition Details and Shareholding

The acquisition involved the purchase of 1,50,599 equity shares, representing 6.20% of the company's equity share capital, from the outgoing promoter, Gitaben Nitinbhai Patel. This stake was split between the two new entities:

• Alpitkumar Pravinchandra Gor acquired 52,709 equity shares (2.17% of capital).
• Riddhi Infocom Solutions LLP acquired 97,890 equity shares (4.03% of capital).

In addition to these purchases, both entities participated in an open offer and received preferential allotments on September 25, 2026. The revised shareholding pattern reflects these combined actions:

The shareholding for Alpitkumar Pravinchandra Gor includes shares from the Share Purchase Agreement, the open offer, and a preferential issue of 7,78,750 shares. Riddhi Infocom Solutions LLP’s holding includes shares from the agreement and a preferential issue of 6,34,800 shares.

Open Offer Outcome and Regulatory Compliance

Pursuant to Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Acquirer and PAC have assumed control and are now classified as the promoters. Consequently, Gitaben Nitinbhai Patel has ceased to be a promoter as she no longer holds any equity shares in the company.

The Post Offer Advertisement for the Open Offer by Alpitkumar Pravinchandra Gor and Riddhi Infocom Solutions LLP revealed that public shareholders tendered only 10,708 equity shares, significantly lower than the proposed maximum of 6,31,785 shares. The offer price was ₹86.00 per equity share. Consequently, the actual stake acquired through the open offer was 0.44% of the emerging voting share capital, compared to the proposed 26.00%.

The company stated that all applicable requirements for reclassification are being complied with. The intent to cease promotion was disclosed in offer documents related to the open offer made by the Acquirer and PAC under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Gitaben Nitinbhai Patel submitted a formal request for reclassification to the public category, confirming compliance with conditions including:

• Holding no more than 10% of total voting rights.
• No exercise of control over company affairs.
• No special rights via shareholder agreements.
• No representation on the board or key managerial roles.

She committed to maintaining these conditions for specified periods, with certain restrictions lasting at least three years from the date of reclassification.

Antariksh Industries reported a sharp contraction in financial performance for FY26, with revenue from operations falling 88.20% year-on-year to ₹516.66 lakh. Net profit after tax (PAT) declined 88.83% to ₹6.15 lakh, compared to ₹55.03 lakh in the previous fiscal year.

The company's Board of Directors recommended a final dividend of 5%, translating to ₹0.50 per equity share of face value ₹10 each, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Financial Performance

The significant drop in profitability was driven by lower business execution and project activity during the year under review. Total expenditure excluding depreciation and finance costs stood at ₹507.87 lakh, down from ₹4,304.67 lakh in FY25.

What the Numbers Show

A key divergence in the balance sheet signals improved short-term liquidity despite the revenue collapse. The current ratio surged 1,710.02% to 23.27 times from 1.29 times in FY25. This spike was primarily due to a substantial decrease in trade receivables, which fell to ₹156.54 lakh from ₹379.07 lakh, alongside a sharp reduction in trade payables to ₹1.03 lakh from ₹547.09 lakh. The company maintained a positive net profit margin of 1.19%, narrowly down from 1.26% in the prior year.

Corporate Developments

The company underwent a change in control during the year, with Mrs. Gitaben Nitinbhai Patel acquiring 75.30% of the paid-up equity share capital. Consequently, the Board was reconstituted, with Mrs. Ekta Shyamlal Haryani appointed as Managing Director effective November 5, 2025.

The registered office was shifted from Maharashtra to Ahmedabad, Gujarat, effective April 1, 2026. Additionally, the company expanded its main objects to include real estate, infrastructure, textiles, and IT services.

AGM Details

The 51st AGM is scheduled for September 29, 2026, at 2:30 pm at the registered office in Ahmedabad. Key agenda items include:

• Adoption of audited financial statements for FY26
• Declaration of final dividend
• Re-appointment of Mr. Nilesh Hasmukhbhai Kothari as Non-Executive Director
• Appointment of M/s. Nitin K Shah & Co. as Statutory Auditors for five years