Devinsu Trading Limited reported a net profit of ₹80.04 lakh for the financial year ended March 31, 2026, a decline from ₹118.34 lakh in the previous year. The board approved the audited standalone financial results for the quarter and year ended March 31, 2026, at a meeting held on May 29, 2026. M/s. SVP & Associates, the statutory auditor, issued an audit report with an unmodified opinion on the results.

For the quarter ended March 31, 2026, the company recorded a net profit of ₹18.15 lakh, compared to ₹19.92 lakh in the corresponding quarter of the previous year. Total income for the quarter stood at ₹39.29 lakh, while total expenses were ₹15.25 lakh. During the quarter, the company issued 88,000 equity shares at ₹350 each on a preferential allotment basis.

Financial Performance for FY26

The company's total income for the year ended March 31, 2026, was ₹134.65 lakh, a decrease from ₹188.90 lakh in the prior year. Total expenditure increased to ₹34.54 lakh from ₹28.25 lakh in FY25. The earnings per share (EPS) for the year was ₹15.39, down from ₹23.67 in the previous year.

Balance Sheet and Cash Flow

The company's total assets as of March 31, 2026, stood at ₹2,108.58 lakh, compared to ₹1,774.36 lakh in the previous year. Equity share capital increased to ₹58.80 lakh from ₹50.00 lakh, primarily due to the preferential allotment. The closing balance of cash and cash equivalents was ₹15.72 lakh, up from ₹0.22 lakh in the previous year. Net cash from financing activities was ₹297.97 lakh, driven by the proceeds from the issue of equity shares.

A consortium of acquirers has published the Detailed Public Statement (DPS) for a mandatory open offer to purchase up to 1,52,880 equity shares of Devinsu Trading , representing 26.00% of the company's voting share capital. The offer price has been fixed at ₹355.00 per share, resulting in a total maximum consideration of ₹5,42,72,400 payable in cash. The offer was triggered pursuant to Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, following an agreement to acquire 1,71,493 equity shares from the existing promoter.

The acquirers include Mr. Jaison Vijay Shah, Mr. Mukesh Kumar Bothra, and Yora Gems & Jewellery Private Limited. The underlying transaction involves the acquisition of 1,71,493 equity shares, representing 29.17% of the voting share capital, from Mr. Denis Desai at ₹355.00 per share, aggregating to ₹6,08,80,015. This acquisition will result in a change of control of the target company. The acquirers have confirmed they possess adequate financial resources and do not intend to delist the equity shares of Devinsu Trading Limited pursuant to this open offer.

Offer Timeline

The tendering period for the open offer is scheduled to commence on July 14, 2026, and conclude on July 27, 2026. The Letter of Offer will be dispatched to eligible shareholders by July 7, 2026. The detailed public statement was published in Business Standard (English and Hindi) and Navshakti (Marathi) on May 27, 2026. The offer is not conditional upon any minimum level of acceptance.

Transaction Structure

The open offer is a triggered mandatory offer resulting from the direct acquisition of shares via a Share Purchase Agreement dated May 20, 2026. The table below summarizes the key details of the underlying transaction that necessitated the open offer.

Financial and Regulatory Details

Mark Corporate Advisors Private Limited is acting as the Manager to the Offer, while Bigshare Services Private Limited has been appointed as the Registrar to the Offer. The target company's equity shares are listed on BSE Limited and are infrequently traded. As on date, the authorized share capital of Devinsu Trading Limited is ₹1,00,00,000, and the issued, subscribed, and paid-up equity share capital is ₹58,80,000. The acquirers have stated that they do not have any plans to alienate significant assets of the company for a period of two years, except in the ordinary course of business.