Pilani Investment and Industries Corporation Limited has informed the stock exchanges that it does not accept The Punjab Produce & Trading Company Private Limited and its associates as part of the promoter group. The company stated that the promoters do not recognize the entity's claim to control, highlighting a discrepancy in reported shareholding percentages. The total percentage of shares held by The Punjab Produce & Trading Company Private Limited and others, excluding Birla Cotton Spinning & Weaving Company Limited, is 25.16%. This contrasts with the disclosure from persons claiming to be in control as promoters, which relates to 58.68% of the share capital.

The company clarified that Birla Cotton Spinning & Weaving Company Limited is not holding any shares in Pilani Investment and Industries Corporation Limited. This intimation follows a disclosure received by the company on April 7, 2026, via a letter dated April 2, 2026, from The Punjab Produce & Trading Company Private Limited. The disclosure was purportedly made under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

In its declaration, The Punjab Produce & Trading Company Private Limited stated that the promoters of Pilani Investment and Industries Corporation Limited, along with persons acting in concert, have not created any encumbrance on the equity shares held by them. The entity provided a detailed breakdown of the shareholding attributed to the promoter group and persons acting in concert.

The declared shareholding details include The Punjab Produce & Trading Co. Pvt. Ltd. holding 17.52%, Gwalior Webbing Co. Pvt. Ltd. holding 5.74%, and Birla Cotton Spg. & Wvg. Co. Ltd. holding 5.45%. Other entities such as Punjab Produce Holdings Limited, Baroda Agents & Trading Co. Pvt. Ltd, and various educational and medical institutions hold smaller percentages ranging from 0.05% to 0.87%.

The company submitted this information to the National Stock Exchange of India Ltd. and BSE Ltd. for their records and necessary action.

Pilani Investment and Industries Corporation Limited has reported a 57.58% decline in standalone net profit to ₹7,185.76 Lakhs for the financial year ended March 31, 2026, driven by a sharp rise in borrowing costs. The company has scheduled its 79th Annual General Meeting (AGM) for July 13, 2026, via Video Conferencing to seek shareholder approval for the financial results and a proposed dividend of ₹9 per share.

Financial Performance

The standalone net profit fell from ₹16,940.61 Lakhs in FY25 to ₹7,185.76 Lakhs in FY26, while consolidated profit for the year dropped 68.46% to ₹3,105.55 Lakhs. Total income on a standalone basis stood at ₹29,348.59 Lakhs, comprising interest income of ₹20,243.35 Lakhs, dividend income of ₹8,305.05 Lakhs, and rental income of ₹110.29 Lakhs. The profitability decline was primarily attributed to finance costs, which surged to ₹16,462.15 Lakhs from ₹8,838.73 Lakhs in the previous year.

Key Ratios and Corporate Developments

Key financial ratios deteriorated during the year, with the Interest Coverage Ratio falling to 1.59 from 3.51, and the Net Profit Margin dropping to 24.94% from 53.23%. The company completed its conversion from a Non-Banking Financial Company (NBFC-ICC) to a Core Investment Company (CIC) during the year, receiving a fresh Certificate of Registration from the Reserve Bank of India on May 27, 2025. Additionally, the company raised ₹500 Crores through the allotment of Non-Convertible Debentures (NCDs) carrying a coupon rate of 8.11%.

Dividend and AGM Schedule

The Board has recommended a dividend of ₹9 per equity share of face value ₹10 each for FY26, down from ₹15 per share in the previous year. The record date to determine shareholder eligibility is July 6, 2026. The 79th AGM will be held on July 13, 2026, at 3.00 P.M. IST via Video Conferencing or Other Audio-Visual Means. Remote e-voting is available from July 9, 2026, to July 12, 2026.

Shareholders who have not registered their email addresses can access the Notice of the AGM and the Annual Report at the company's website. The company intimated the exchanges regarding the newspaper publication of the AGM notice in the June 20, 2026 editions of Financial Express and Aaajkaal.