De Neers Tools Limited has secured a no-objection certificate (NOC) from the National Stock Exchange of India (NSE) to reclassify a member of its promoter group to the public category. The approval, communicated via letter NSE/LIST/COMP/DENEERS/547/2026-2027 dated May 15, 2026, allows the company to change the status of Mr. Kanav Gupta from the promoter group to a public shareholder.

Regulatory Compliance

The reclassification is being pursued in accordance with Regulation 31A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had initially submitted its application for this change on December 25, 2025. The NSE's NOC confirms that the exchange has no objection to the requested reclassification based on the submissions made by the listed entity.

Details of the Applicant

The reclassification specifically targets Mr. Kanav Gupta, who is currently listed as a member of the promoter and promoter group. Following this approval, he will be removed from the list of "Promoter Group" category shareholders and reclassified as a "Public" category shareholder.

Future Disclosures

De Neers Tools Limited stated that it will make necessary disclosures regarding material developments related to this reclassification as required by statutory regulations. The company is required to ensure compliance with all subsequent relevant disclosures of material events under Regulation 31A of the SEBI LODR Regulations.

De Neers Tools Limited has announced its financial results for the fiscal year ended March 31, 2026, reporting a significant improvement in profitability and operational efficiency. The company delivered a strong recovery in the second half of the year, overcoming weather-led disruptions experienced in the initial months.

Financial Performance

Consolidated revenue for FY26 grew 23.0% year-on-year to ₹1,780.3 Mn. This growth was supported by improved dispatches and deeper market penetration, particularly in H2FY26, where revenue surged 40.5% to ₹1,056.8 Mn. Profitability metrics saw substantial expansion, with EBITDA increasing 50.0% to ₹387.3 Mn and Profit After Tax (PAT) rising 60.5%.

The EBITDA margin improved to 21.8% from 17.8% in the previous fiscal year, reflecting better realizations and operating leverage benefits. For the half-year ended March 31, 2026 (H2), EBITDA jumped 106.6% to ₹241.0 Mn, with the margin expanding by 730 basis points to 22.8%.

Consolidated Financial Highlights (FY26)

Operational Expansion

The company expanded its operational footprint during the year, growing its dealer network to 352 and increasing OEM relationships to 66 customers. The Stock Keeping Unit (SKU) portfolio was expanded to over 9,500 products, reinforcing its position as a comprehensive solutions provider across industrial and automotive segments.

Strategic Initiatives

De Neers Tools announced a Joint Venture for manufacturing, marketing, and dealing in tools, bits, sockets, and allied products. This strategic move aims to achieve selective backward integration and strengthen long-term manufacturing capabilities. The proposed entity, DNSJV Private Limited, will see De Neers holding a 51% majority stake.

Additionally, the company is evaluating entry into the power tools category to expand its addressable market. Management remains focused on scaling specialized tool categories and strengthening its position as a quality-focused branded tools platform.