Glittek Granites reported a net profit of ₹13.67 lakh for the quarter ended June 30, 2026, up from ₹5.27 lakh in the corresponding period of FY25. The company’s total income stood at ₹33.10 lakh, with no revenue from operations recorded for the quarter. Other income contributed ₹33.10 lakh to the top line, offsetting total expenses of ₹16.29 lakh.

The Board of Directors approved a significant strategic expansion into the renewable energy sector. This includes the acquisition of land and the commencement of business activities related to Battery Energy Storage Systems (BESS), solar photovoltaic engineering, procurement, and construction (EPC), and trading of energy storage components. The proposed project has an estimated cost of ₹150 crore and an expected gestation period of 10–12 months from land acquisition to commercial operations.

Financial Performance

The company’s profitability in Q1FY26 was primarily driven by non-operating income, as operational revenue remained nil. Total expenses decreased significantly compared to the previous year, falling from ₹65.03 lakh in Q1FY25 to ₹16.29 lakh in Q1FY26. Employee benefit expenses accounted for ₹8.35 lakh, while other expenses totaled ₹7.94 lakh.

What the Numbers Show

Other income constituted 100% of the company’s total income in Q1FY26, highlighting a complete reliance on non-operating sources for current-quarter earnings. With revenue from operations at zero, the profit figure is entirely derived from other income less operating expenses, indicating that core granite business operations did not generate recognized sales during this period.

Corporate Governance Changes

The board approved several key administrative appointments and changes:

• Statutory Auditor: M/s R. R. Tibrewala & Co., Chartered Accountants, was appointed as the statutory auditor for five years, succeeding M/s GRV & PK whose term concludes at the ensuing AGM.
• Secretarial Auditor: KJB & Co. LLP was appointed to replace Ms. Kriti Daga, who resigned citing recent changes in management and control, along with the proposed shift of the registered office from Karnataka to Maharashtra.
• Registrar and Transfer Agent: MUFG Intime India Private Limited will replace MCS Share Transfer Agent Limited as the RTA, subject to regulatory formalities.

The company also approved the establishment of a new corporate office in Ahmedabad on a leave and licence basis. The 36th Annual General Meeting is scheduled for September 22, 2026, where shareholders will vote on these appointments and the alteration of the Main Object Clause to facilitate the new BESS business lines.

Glittek Granites Ltd announced the resignation of three independent directors effective June 25, 2026, following a change in management control triggered by the acquisition of a majority stake by incoming shareholders. The resignations were recorded by the board during its meeting held on June 25, 2026, and the revised disclosure was submitted to BSE on July 15, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The outgoing directors include Mr. Siddhartha Agarwal (DIN: 07987858), Mr. Manish Killa (DIN: 01099954), and Mrs. Malvika Sureka (DIN: 09481072). The cessation of their directorships is attributed to the completion of the open offer process under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company confirmed that none of the resigning directors hold directorships in other listed entities besides Glittek Granites Ltd.

Details of Cessation

The following table outlines the particulars of the resignations:

The filing was made in response to a communication from BSE Limited seeking additional disclosures as per SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company stated that all other disclosures from the original board meeting outcome remain unchanged.