Neo Infracon Limited promoter Darshik D. Mehta acquired 4,200 equity shares on September 1, 2026, through open market transactions. The acquisition was disclosed to the Bombay Stock Exchange on September 2, 2026.

The purchase raises Mr. Mehta’s total stake in the company from 8.18% to 8.27% of the total voting capital. The transaction adds 4,200 shares to his existing holding of 4,34,420 shares, bringing his total share count to 4,38,620.

Transaction Details

The acquisition falls under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure confirms that no warrants, convertible securities, or other instruments entitling the acquirer to receive shares were involved in the transaction.

Mr. Mehta holds no encumbered shares, pledges, or liens on the newly acquired or existing equity. The company’s total equity share capital remains unchanged at 53,06,800 equity shares following the transaction.

What the Numbers Show

The acquisition represents a modest increase in promoter ownership, with the stake rising by just 0.09 percentage points. With no change in the company’s total diluted share capital, the move reflects a direct accumulation of existing float rather than any capital restructuring or rights issue activity.

Neo Infracon Limited reported a 14% year-on-year increase in consolidated net profit to ₹89.72 crore for the financial year ended March 31, 2026, driven by improved operational margins despite a decline in revenue. Standalone net profit rose 77% to ₹42.63 crore.

The Board of Directors approved these financial results during a meeting held on August 29, 2026, and scheduled the company's 43rd Annual General Meeting (AGM) for September 22, 2026.

Financial Performance

Consolidated revenue from operations declined 22% to ₹799.64 crore in FY26, down from ₹1,024.46 crore in the previous year. However, cost of sales decreased more sharply by 28% to ₹501.28 crore, supporting margin expansion. Standalone revenue fell 8% to ₹444.64 crore.

EBITDA calculated as operating profit before depreciation and preliminary expenses.

Standalone profit before tax increased 77% to ₹59.20 crore from ₹33.54 crore. The group recorded finance costs of ₹112.68 crore, slightly lower than the ₹118.11 crore incurred in FY25.

What the Numbers Show

The divergence between declining revenue and rising profitability highlights significant cost discipline. While top-line growth contracted, the reduction in cost of sales outpaced revenue decline, allowing EBITDA to expand by 19%. This suggests improved project mix or execution efficiency rather than volume-driven growth.

Auditor Appointments

The company appointed M/s. D. Satyaprakash & Co. LLP (FRN: W100970) as statutory auditors for the term commencing from Financial Year 2026-27 and continuing until the conclusion of the AGM for Financial Year 2030-31. This appointment is subject to shareholder approval.

This change follows the resignation of the outgoing statutory auditors, M/s. D. Kothary & Co., who cited an inability to continue their role in a letter dated August 6, 2026.

Additionally, the board appointed M/s. Abhishek Barola & Co. as internal auditors for Financial Year 2026-27. The internal auditors will evaluate internal processes and controls, submitting periodic reports to the Audit Committee and the Board.

AGM Schedule and Logistics

The 43rd AGM is scheduled for Tuesday, September 22, 2026, at 1:00 pm. The meeting will be conducted exclusively through Video Conferencing (VC) or Other Audio-Visual Means (OAVM), meaning no physical venue is required.

Purva Sharegistry (India) Pvt. Ltd. was appointed as the agency to conduct remote e-voting and e-voting during the AGM using its "Purva E-Voting" platform for Financial Year 2025-26.

Mr. Vijay Mishra, Partner at VKM & Associates, was appointed as the scrutinizer to ensure fair and transparent voting processes.

Corporate Actions

The board approved the Directors' Report for Financial Year 2025-26, dated May 20, 2026, for circulation to members.

The Register of Members and Share Transfer Books will remain closed from September 16, 2026, to September 22, 2026, both days inclusive, in connection with the AGM.