IITL applies for Swaran Singh's promoter reclassification

Industrial Investment Trust Limited has submitted an application to BSE Limited and National Stock Exchange of India Limited on May 26, 2026, seeking approval for the reclassification of Mr. Swaran Singh from the promoter category to the public category. This move follows the Board's approval on May 23, 2026, and is subject to necessary regulatory clearances. The reclassification impacts Mr. Singh's status as he currently holds 25,000 equity shares, representing 0.13% of the total voting rights excluding GDRs.

Mr. Swaran Singh had requested this change on April 10, 2026. The Board evaluated the request and confirmed that he is not part of the Board, does not hold any key managerial position, and does not participate in the company's management. Consequently, the reclassification does not require shareholder approval as the promoter and related persons hold less than 1% of the total voting rights, complying with Regulation 31A(3)(a)(vi) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shareholding Details

The table below outlines the shareholding details relevant to the reclassification application:

Parameter	Details
Name of Shareholder	Mr. Swaran Singh
Current Category	Promoter
Requested Category	Public
Equity Shares Held	25,000
% of Holding (excluding GDR)	0.13%
% of Holding (including GDR)	0.11%

Regulatory Compliance

The company has confirmed that Mr. Singh satisfies all conditions specified in Regulation 31A(3)(b) of the SEBI LODR Regulations. The Board has authorized Dr. Bidhubhusan Samal, Chairman, Mr. Bipin Agarwal, Managing Director, and Ms. Cumi Banerjee, CEO (Secretarial, Legal and Admin) & Company Secretary, to complete all required filings and formalities with the exchanges.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.56%	-1.66%	-14.93%	-16.16%	-21.02%	+92.12%

Industrial Investment Trust Limited reported a net loss of ₹1,332.21 lakh for the financial year ended March 31, 2026, a reversal from the net profit of ₹321.13 lakh in the previous fiscal year. This performance was significantly impacted by a negative net gain on fair value changes amounting to ₹3,528.81 lakh. Revenue from operations for FY26 was reported at ₹1,715.79 lakh, compared to ₹1,496.27 lakh in the corresponding period last year.

The Board of Directors approved the audited financial results for the year and quarter ended March 31, 2026, at its meeting held on May 23, 2026. For the quarter ended March 31, 2026, the company reported a net loss of ₹2,564.92 lakh and total income of ₹4,162.28 lakh. The Board did not recommend any dividend on equity shares for FY26.

The Board re-appointed M/s Sheetal Patankar & Co., Chartered Accountants, as its Internal Auditor for FY27, pursuant to the recommendation of the Audit Committee and in compliance with Section 138 of the Companies Act, 2013. Additionally, the board approved the request received from Mr. Swaran Singh for reclassification from the Promoter category to the Public shareholder category, subject to stock exchange approvals.

Financial Highlights

The following table outlines the key financial metrics for the standalone entity for the year and quarter ended March 31, 2026:

Particulars	Year Ended Mar 31, 2026 (₹ in Lakhs)	Year Ended Mar 31, 2025 (₹ in Lakhs)	Quarter Ended Mar 31, 2026 (₹ in Lakhs)
Revenue from Operations	(1,716.90)	1,422.57	(4,162.54)
Total Income	(1,715.79)	1,496.27	(4,162.28)
Total Expenses	(17.07)	1,136.00	(906.48)
Profit/(Loss) before tax	(1,698.72)	360.27	(3,255.81)
Net Profit/(Loss) for the year	(1,332.21)	321.13	(2,564.92)

Auditor's Report

The Statutory Auditors, Maharaj N.R. Suresh and Co. LLP, issued an unmodified opinion on the financial results. However, they noted that the subsidiary, IITL Projects Limited, has a negative net worth and ceases to be a going concern.