Madhav Marbles and Granites Limited has successfully concluded its board meeting held on March 25, 2026, with the approval of acquiring an additional 18.01% equity stake in its subsidiary company. The meeting, which commenced at 15:30 p.m. and concluded at 17:10 p.m., addressed the previously scheduled agenda regarding related party transactions.

Board Meeting Outcome

The Board of Directors has approved the acquisition of an additional 18.01% equity stake in Madhav Natural Stone Surfaces Private Limited (MNSSPL), an existing subsidiary of the company. This strategic decision will increase the company's shareholding from 81.99% to 100%, thereby making MNSSPL a wholly owned subsidiary.

Strategic Business Diversification

The acquisition aligns with the company's revised business strategy to diversify into the real estate sector. MNSSPL was originally incorporated on September 16, 2018, to set up an Engineered Stone Manufacturing Unit at Udaipur, Rajasthan, but the project could not materialize. The subsidiary will now act as a dedicated vehicle for the proposed real estate project.

Regulatory Compliance and Approvals

The proposed investment falls within related party transactions as MNSSPL is a subsidiary of the company. The company has obtained prior approval from the Audit Committee, ensuring the transaction is conducted on an arm's length basis. The acquisition is subject to execution of definitive agreements and necessary approvals.

Promoter group members Mr. Madhav Doshi and Mrs. Riddhima Doshi, who serve as Executive Directors, are also Directors in the subsidiary company, indicating promoter group interest in the transaction.

Future Business Objectives

The company intends to execute real estate projects on land owned by the subsidiary, leveraging existing land assets for focused execution, operational efficiency, and long-term value creation. The pricing for the share subscription will be determined based on the valuation of MNSSPL.

The notification was communicated to BSE Limited and National Stock Exchange of India Limited in compliance with Regulation 30 of the Listing Regulations, and was digitally signed by Company Secretary Priyanka Manawat.

Madhav Marbles and Granites Limited has officially announced the approval of a significant loan transaction to its related party following a board meeting held on March 05, 2026. The company's Board of Directors considered and approved granting a loan of OMR 35,000 to Madhav Surfaces FZC LLC, as disclosed in its regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Meeting Outcome and Regulatory Filing

The board meeting commenced at 11:45 a.m. and concluded at 1:35 p.m. on March 05, 2026, where directors addressed the loan approval as part of their agenda. The company has filed the outcome with BSE Limited (Scrip Code: 515093) and National Stock Exchange of India Ltd (Scrip Code: MADHAV), ensuring full regulatory compliance and transparency.

Transaction Details and Financial Terms

The approved loan carries specific financial parameters designed to support the recipient's operational requirements. The transaction reflects a structured approach to related party financing with clear terms and conditions.

Related Party Information and Compliance

Madhav Surfaces FZC LLC operates as an associate company incorporated in the Sultanate of Oman. The company maintains a 13.33% direct stake in Madhav Surfaces FZC LLC, establishing it as a related party under regulatory definitions. The transaction involves key management personnel from both entities, with Mr. Madhav Doshi (CEO & Managing Director) and Mrs. Riddhima Doshi (Whole Time Director) serving as Directors in both companies and belonging to the promoter and promoter group.

Corporate Governance and Documentation

The transaction has received necessary approvals from the Audit Committee and company members, as mandated under applicable regulations. The company has confirmed that the transaction is conducted at arm's length, maintaining transparency and fairness in pricing and terms. The regulatory filing was digitally signed by Company Secretary Priyanka Manawat on March 05, 2026, at 1:46 p.m., demonstrating the company's commitment to timely disclosure and regulatory compliance.