Mukand Limited has officially filed its annual disclosure with stock exchanges on April 03, 2026, confirming that it does not qualify as a Large Corporate under the Securities and Exchange Board of India (SEBI) regulatory framework as on March 31, 2026.

Official Filing and Regulatory Compliance

The company submitted its formal disclosure to both BSE Limited and National Stock Exchange of India Limited, referencing SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, read with SEBI circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023. The filing confirms that Mukand Limited does not meet the criteria specified in para 2.2 of the SEBI circular for Large Corporate identification.

Financial Position and Borrowings

Mukand Limited reported significant financial metrics in its disclosure, showing the company's borrowing position and credit profile. The company's outstanding borrowings have increased year-over-year, reflecting its ongoing business operations and capital requirements.

Credit Rating Profile

The company maintains comprehensive credit ratings from CRISIL Ratings across various financial instruments and facilities, demonstrating stable financial standing.

Regulatory Framework Implications

Since Mukand Limited does not qualify as a Large Corporate under SEBI guidelines, the company stated that "the requirement for submission of annual disclosure for the financial year 2025-2026, as per para 4 of the said SEBI Circular dated November 26, 2018, is not applicable to Mukand Limited." This exempts the company from mandatory borrowing requirements through debt securities that would otherwise apply to Large Corporates.

The disclosure was digitally signed by Rajendra Sawant, Company Secretary, and Dhanesh K Goradia, Chief Financial Officer, confirming the company's compliance with regulatory requirements and its current classification status under SEBI guidelines.

Mukand Limited has successfully completed the slump sale of its Industrial Machinery Business to its wholly owned subsidiary Mukand Heavy Engineering Limited (MHEL) for Rs 45.78 crores. The transaction represents a strategic restructuring of the company's operations, transferring specialized manufacturing capabilities to a dedicated subsidiary.

Transaction Details

The slump sale was completed on March 31, 2026, following the Business Transfer Agreement dated October 18, 2025. The transaction involved the transfer of specific industrial machinery operations on a going concern basis.

Business Scope

The transferred business encompasses several key industrial activities:

• Designing of EOT Cranes and materials handling equipment
• Manufacturing of process plant equipment
• Erecting and commissioning services
• Other materials handling equipment activities

These operations form a comprehensive suite of industrial machinery services that will now operate under MHEL's dedicated management structure.

Regulatory Compliance

Mukand Limited has fulfilled all regulatory disclosure requirements under SEBI regulations. The company had previously intimated the stock exchanges about this transaction on May 16, 2025, and October 18, 2025, ensuring complete transparency throughout the process.

The transaction complies with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and follows the guidelines specified in the SEBI Master Circular dated January 30, 2026.

Strategic Implications

This internal restructuring allows Mukand Limited to optimize its business operations by consolidating industrial machinery activities under a specialized subsidiary. The transaction maintains operational continuity while potentially enhancing focus and efficiency in the transferred business segment.

The completion of this slump sale marks a significant milestone in Mukand's organizational restructuring, with MHEL now positioned as the dedicated entity for industrial machinery operations within the group structure.