Keerthi Industries Limited (Formerly Suvarna Cements Limited) has formally completed the addendum to its Business Transfer Agreement for the slump sale of its Electronics Division to Keerthi Holdings Private Limited. The company filed comprehensive regulatory disclosures under SEBI Listing Regulations, confirming the transaction's effective date as March 31, 2026, with consideration of INR 36.00 crores already received on December 1, 2025.

Transaction Structure and Financial Details

The Electronics Division sale represents a significant strategic move for Keerthi Industries, involving the transfer of a business segment that contributed substantially to the company's revenue. The transaction follows a comprehensive approval process spanning multiple regulatory milestones.

Electronics Division Performance Metrics

The Electronics Division's financial contribution highlights its significance within Keerthi Industries' overall business portfolio. The division generated substantial revenue during the last financial year, representing nearly one-fifth of the company's total income.

Strategic Debt Reduction Initiative

The slump sale proceeds will primarily fund debt repayment, addressing Keerthi Industries' significant borrowing obligations. The company carries substantial term loans, cash credit facilities, and unsecured loans that impact its financial performance through high interest costs.

Regulatory Compliance and Related Party Considerations

The transaction constitutes a related party transaction under Section 2(76)(iv) of the Companies Act, 2013, as both entities have joint control. However, the sale is being conducted on an arm's length basis, supported by an Independent Valuation Report dated May 29, 2025. The company has ensured full compliance with SEBI Listing Regulations and applicable disclosure requirements.

Corporate Governance Timeline

The Business Transfer Agreement followed a systematic approval process, demonstrating robust corporate governance practices and stakeholder consultation throughout the transaction lifecycle.

The transaction will not result in any changes to the company's shareholding pattern, maintaining existing ownership structure while strengthening the balance sheet through strategic asset monetization and debt reduction.

Keerthi Industries Limited has notified BSE Limited about initiating the process to issue duplicate share certificates following a shareholder's request for replacement of lost original certificates. The company received the intimation through its registrar and transfer agent, XL Softech Systems Limited, on 16th March, 2026.

Duplicate Certificate Request Details

The request pertains to shareholder Balkisan Ramkaran Baheti, who has applied for duplicate share certificates to replace lost original documents. The application covers a total of 97 shares distributed across two certificate numbers.

Regulatory Compliance

The duplicate certificate issuance process is being conducted in accordance with Regulation 39(3) of SEBI (Listing Obligations & Disclosure Requirements), 2015. This regulation mandates specific procedures for issuing duplicate securities certificates when original certificates are lost, stolen, or destroyed.

Keerthi Industries Limited has confirmed that it is initiating the necessary course of action to process the duplicate certificate request. The company has fulfilled its obligation to inform the stock exchange about this corporate action within the prescribed timeframe.

Company Information

Keerthi Industries Limited, formerly known as Suvarna Cements Limited, operates from its registered and administrative office located at Plot No. 40, IDA, Balanagar, Hyderabad. The company is incorporated under CIN L11100TG1982PLC003492 and maintains its listing on BSE with scrip code 518011.