Shri Krishan Saraf & Sons HUF, a promoter group entity, increased its shareholding in acknit industries to 6.54% through the acquisition of 61,000 equity shares on June 8, 2026. The transaction was executed via an inter-se transfer, as disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Prior to this acquisition, the promoter entity held 137,797 shares, representing 4.53% of the total voting capital. The purchase of 61,000 shares, accounting for 2.01% of the capital, raised the total holding to 198,797 shares. The equity share capital of Acknit Industries Limited remains at 30,40,000 equity shares of ₹10 each.

The disclosure was submitted to the Bombay Stock Exchange and the Calcutta Stock Exchange. The company's total diluted share capital remains unchanged at 30,40,000 equity shares following the transaction. The acquirer, Shri Krishan Saraf, signed the disclosure in his capacity as Karta of the HUF.

Shareholding Details

The transaction does not involve any encumbrance or convertible securities. The acquisition was solely in the form of shares carrying voting rights.

Acknit Industries reported a net profit of ₹818.41 lakh for the financial year ended March 31, 2026, a decrease from ₹899.51 lakh in the previous year. Revenue from operations for FY26 stood at ₹24,042.61 lakh, marginally higher than ₹24,037.41 lakh in FY25. For the quarter ended March 31, 2026, the company posted a net profit of ₹361.44 lakh on revenue of ₹6,687.84 lakh. The Board of Directors approved the audited standalone financial results at its meeting held on May 27, 2026.

The Board recommended a final dividend of 15%, or ₹1.50 per equity share of ₹10 each, for FY26, subject to shareholder approval at the ensuing Annual General Meeting. M/s SRB & Associates, Statutory Auditors, issued an unmodified opinion on the audited standalone financial results for the quarter and year ended March 31, 2026.

Corporate Governance Changes

The Board approved the re-appointment of Mr. Rajarshi Ghosh as an Independent Director for a second term of five years effective June 30, 2026, subject to shareholder approval. Concurrently, Mr. Mukul Banerjee and Mr. Jadav Lal Mukherjee will cease to be Independent Directors upon the completion of their tenures at the close of business hours on May 29, 2026. Their departures will result in vacancies across the Audit Committee, Stakeholders Relationship Committee, and Nomination and Remuneration Committee.

Operational Updates

The company provided updates on its expansion initiatives, noting that trial production has commenced at its new garment factory in Kolkata, with 50% capacity utilisation expected from September 2026. Commercial production of helmets has also begun. Furthermore, trial production for personal protective equipment and hand gloves has been initiated at the Falta III expansion facilities.

Financial Results Summary