Kiran Vyapar Limited reported a standalone profit after tax of ₹1,123.20 lakh for the financial year ended March 31, 2026, a decline from ₹3,551.95 lakh in the previous year. The board of directors recommended a dividend of Re. 1 per equity share, or 10%, subject to the approval of shareholders in the ensuing Annual General Meeting. The company’s total revenue from operations for the year stood at ₹6,302.53 lakh, while total expenses were ₹5,046.12 lakh.

The standalone financial results were audited by V. Singhi & Associates, Chartered Accountants, who issued an unmodified opinion. The audit confirmed that the financial results give a true and fair view in conformity with the Indian Accounting Standards prescribed under the Companies Act, 2013. The board meeting to consider these results was held on May 26, 2026.

On a consolidated basis, the company reported a profit after tax of ₹54.68 lakh for FY26, a significant decrease from ₹6,615.12 lakh in the previous year. Total consolidated revenue from operations was ₹10,668.75 lakh. The consolidated results also received an unmodified opinion from the auditors. The financial statements incorporate the effects of a scheme of amalgamation sanctioned by the National Company Law Tribunal, Kolkata Bench, effective April 1, 2024, involving the merger of Placid Limited and Sukhday Greenview Private Limited with Maharaja Shree Umaid Mills Limited.

The company’s earnings per share (EPS) on a standalone basis for the year was ₹4.12, down from ₹13.02 in the prior year. The paid-up equity share capital remained unchanged at ₹2,728.42 lakh. Reserves other than revaluation reserve increased to ₹1,20,452.73 lakh from ₹1,14,527.90 lakh in the previous year.

Standalone Financial Results (₹ in lakhs)

Consolidated Financial Results (₹ in lakhs)

Kiran Vyapar Limited has witnessed a significant corporate restructuring as Maharaja Shree Umaid Mills Limited (MSUM) acquired a substantial 33.86% equity stake through a comprehensive amalgamation scheme. The transaction, completed on April 25, 2026, involved the merger of 20 transferor companies with MSUM, resulting in the acquisition of 92,38,132 equity shares of Kiran Vyapar Limited.

NCLT Approval and Regulatory Framework

The Hon'ble National Company Law Tribunal, Kolkata Bench, sanctioned the scheme of amalgamation on March 16, 2026, under Sections 230 to 232 of the Companies Act, 2013. The scheme became effective on April 25, 2026, upon filing of e-Form INC-28 with the Registrar of Companies. MSUM has filed the necessary disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, confirming the transfer of shares from Placid Limited.

Comprehensive Amalgamation Structure

The amalgamation involved 20 transferor companies merging with MSUM, including Agrajay Greeneries Private Limited, Akruray Greenhub Private Limited, Chakrine Greenfield Private Limited, Dakshay Greeneries Private Limited, Dakshinay Greenpark Private Limited, Eminence Agrifield Private Limited, Eminence Cropfield Private Limited, Eminence Harvest Private Limited, Jiwanay Greenview Private Limited, Kapilay Greeneries Private Limited, Mantray Greenpark Private Limited, Placid Limited, Pratapnay Greenfield Private Limited, Rawaye Greenpark Private Limited, Santay Greenfield Private Limited, Sidhyayi Greenview Private Limited, Subiray Greeneries Private Limited, Sukhday Greenview Private Limited, Suruchaye Greeneries Private Limited, and Swastine Greenpark Private Limited.

Shareholding Transformation Details

Prior to the amalgamation, MSUM held 56,92,400 equity shares representing 20.86% of Kiran Vyapar's paid-up equity share capital. Placid Limited, the key transferor company, held 92,38,132 equity shares representing 33.86% of the company's equity. The SEBI disclosure reveals detailed shareholding patterns of all promoter group entities.

Promoter Group Holdings

The SEBI filing provides comprehensive details of all promoter group holdings. Key individual and entity holdings include Shri Lakshmi Niwas Bangur with 17,60,457 shares (6.45%), Smt. Alka Devi Bangur with 7,53,000 shares (2.76%), and Shri Yogesh Bangur with 6,55,100 shares (2.40%). Corporate entities in the promoter group include Apurva Export Private Limited holding 5,40,000 shares (1.98%), The General Investment Company Limited with 3,47,400 shares (1.27%), and Shree Krishna Agency Limited with 3,03,000 shares (1.11%).

Corporate Control and Regulatory Compliance

Following the amalgamation, MSUM's total shareholding in Kiran Vyapar Limited increased to 1,49,30,532 equity shares, representing 54.72% of the paid-up equity share capital. This transformation has resulted in MSUM becoming the holding company of Kiran Vyapar Limited. The acquisition qualifies for exemption from mandatory open offer requirements under SEBI takeover regulations, as it represents a transfer of shares among existing promoter group entities without changing the aggregate shareholding of the promoter group. MSUM, led by Chairman & Managing Director Lakshmi Niwas Bangur, has ensured full compliance with SEBI regulations and filed appropriate disclosures with BSE Limited.