Deep Health AI India Ltd has acquired a 6.37% stake in Leapfrog Engineering Services Ltd for a total consideration of ₹19.92 crore. The acquisition was completed on June 24, 2026, through the purchase of 9,030,000 equity shares at a price of ₹22.06 each, including a premium of ₹21.06 per share. The transaction was disclosed to BSE Limited on June 25, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The acquisition does not constitute a related party transaction, and the promoter or promoter group of Deep Health AI India Ltd holds no interest in the target entity. The company stated that the investment was made for routine investment purposes. No governmental or regulatory approvals were required for the completion of this transaction.

Leapfrog Engineering Services Ltd operates in the industrials, engineering, and construction sector. The company specializes in engineering, procurement, construction, and commissioning (EPCC) services, with a focus on electrical, instrumentation, fire safety, modular substation, and automation systems. Its client base spans industries such as oil and gas, food processing, pharma, and metals.

Financials of Leapfrog Engineering Services Ltd

The target entity reported a turnover of ₹13,466.24 lakh for the financial year ended March 31, 2025. Leapfrog Engineering Services Ltd was incorporated on May 9, 2005, and maintains its presence in India.

Transaction Details

The acquisition exceeded the materiality threshold of Deep Health AI India Ltd, triggering the mandatory disclosure. The shares were acquired via cash consideration. The target company has over 20 years of experience in the sector, with capabilities in executing large-scale projects including refineries, petrochemical plants, and facilities for metals and chemicals.

Deep Health AI India has approved its audited standalone and consolidated financial results for the financial year ended March 31, 2026. The Board of Directors approved the results at a meeting held on May 29, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company reported a consolidated net profit of ₹113.39 lakh for FY26, compared to ₹87.65 lakh in the previous year.

The standalone financial results for FY26 show a net profit of ₹129.91 lakh, a significant turnaround from the previous year. Revenue from operations for the year stood at ₹425.00 lakh, while other income was ₹424.02 lakh. The board also approved the appointment of M/s. Valawat & Associates Chartered Accountants as the Internal Auditor for the financial year 2026-2027.

The financial results include an exceptional item of ₹577.81 lakh recognized in the standalone accounts, primarily due to the acquisition of Oasis Ceramics Pvt. Ltd. under the Insolvency and Bankruptcy Code. The company faced delays in payment timelines, leading to the invocation of a bank guarantee amounting to ₹3.21 crore and the recognition of an exceptional loss based on management's assessment.

During the year, the company raised ₹39.97 crore through a Rights Issue. While ₹2.5 crore was utilized towards the stated objects, ₹37.47 crore was deployed for investments through recognized stock exchanges, a deviation ratified by shareholders in January 2026. The company also disposed of its investment in Hemonc Pharma Private Limited on March 28, 2026.