ICICI Bank Limited has completely exited its position in Glittek Granites Ltd by selling its entire shareholding. The bank disposed of 22,20,000 equity shares, representing approximately 8.55% of the company's issued and paid-up equity share capital. The transaction was executed through a promoter buyback in multiple tranches, with the final sale concluded on June 08, 2026.

The disclosure was made to the stock exchanges on June 10, 2026, in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Prior to the sale, ICICI Bank held 22,20,000 equity shares carrying voting rights, which accounted for 8.55% of both the total share capital and the total diluted share capital of the target company. The bank confirmed that it did not belong to the promoter or promoter group of Glittek Granites Ltd.

Following the disposal, ICICI Bank's holding in the company has reduced to nil. The bank no longer holds any shares carrying voting rights, encumbered shares, or voting rights otherwise than by shares. The total equity share capital of Glittek Granites Ltd remains unchanged at Rs. 12,97,97,000, comprising 2,59,59,400 equity shares of Rs. 5 each.

The shares of Glittek Granites Ltd are listed on BSE Limited and the National Stock Exchange of India Limited. The filing confirmed that there were no warrants or convertible securities involved in the transaction, and no voting rights were held other than through the equity shares that were sold.

Shareholding Details

Glittek Granites Ltd has announced its audited financial results for the fourth quarter and fiscal year ended March 31, 2026. The Board of Directors approved the results during a meeting held on May 21, 2026.

Financial Performance Overview

For the fiscal year 2026, the company reported a total income of ₹140.59 lakh, a sharp decrease from ₹3,329.91 lakh in the previous year. Revenue from operations stood at ₹4.68 lakh, significantly lower than the ₹203.63 lakh reported in FY25. Other income for the year was recorded at ₹135.90 lakh, down from ₹3,126.28 lakh in the prior year.

The company's total expenses for the year amounted to ₹180.03 lakh, a reduction from ₹2,574.05 lakh in FY25. Consequently, Glittek Granites reported a net loss of ₹39.45 lakh for the year ended March 31, 2026, compared to a net profit of ₹685.86 lakh in the corresponding period last year. Basic and diluted earnings per share (EPS) stood at (0.15) for FY26, compared to 2.64 in the previous year.

Quarterly Results

In the fourth quarter of FY26, the company reported a total income of ₹29.86 lakh. Revenue from operations were nil for the quarter, while other income contributed ₹29.86 lakh. Total expenses for the quarter were ₹4.03 lakh, resulting in a profit for the period of ₹25.83 lakh. In the corresponding quarter of the previous year, the company had reported a total income of ₹3,151.67 lakh and a profit of ₹2,603.66 lakh.

Key Financial Metrics

The following table summarizes the key financial figures for the year ended March 31, 2026, compared to the prior year:

Operational Notes

The company noted that during the year, it sold most of its inventory at scrap value as the stock was very old and had not seen any movement for more than five years. The statutory auditors, M/s. GRV & PK Chartered Accountants, have issued an unqualified audit opinion on the standalone financial results. However, they drew attention to the fact that the company has not provided and paid interest on delayed payments to MSMEs as per the MSME Act, 2006, though vendors have agreed to accept delayed payment without interest.