The Board of Directors of Royal India Corp approved the re-appointment of Nitin Gujral as Chairman and Managing Director for a five-year term during its meeting held on August 07, 2026. This leadership continuity ensures stability for the Mumbai-based entity as it navigates ongoing operational strategies. The appointment, recommended by the Nomination & Remuneration Committee, is subject to shareholder approval at the ensuing Annual General Meeting.

Gujral’s new term commences on August 08, 2026, following the expiry of his previous tenure. He has served as Managing Director since August 10, 2018, and will receive an annual remuneration of ₹5,40,000, with potential increases at the Board’s discretion. His shareholding in the company remains nil, and he is not related to any other director on the Board.

In other personnel changes, the Board noted the resignation of Jinal Shah from the position of Company Secretary and Compliance Officer. Shah tendered her resignation via letter dated July 31, 2026, and will cease to hold the position with effect from the close of business hours on August 31, 2026.

The Board also recorded a significant structural change involving its subsidiaries. Suryam India Minecorp Private Limited, a wholly owned subsidiary, transferred 9,00,981 equity shares representing 10% of the paid-up equity share capital of Exclusive Quarries Private Limited (EQPL) to Sumantra Techsoft Private Limited. Consequently, EQPL has ceased to be a subsidiary of Suryam India Minecorp Private Limited and is no longer a step-down subsidiary of Royal India Corporation Limited.

Key Board Resolutions

The disclosures were made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting commenced at 3:00 p.m. and concluded at 4:00 p.m. IST.

Royal India Corporation Limited disclosed on August 3, 2026, that its wholly owned subsidiary, Suryam India Minecorp Private Limited, has divested a 10% stake in Exclusive Quarries Private Limited. The transaction reduces Suryam’s holding in the quarrying firm from 51% to 41%, meaning Exclusive Quarries will no longer be classified as a step-down subsidiary of the listed company. This strategic reduction marks a shift in the corporate structure without triggering related-party transaction regulations.

The sale involved the transfer of 9,00,981 equity shares to Sumantra Techsoft Private Limited, based in Bhopal, Madhya Pradesh. The buyer is not part of the promoter group or group companies of Royal India Corporation. The transaction was completed on July 31, 2026, and the consideration received was ₹1,44,15,696 (Rupees One Crore, Forty-Four Lakhs, Fifteen Thousand, Six Hundred and Ninety-Six Only). No share purchase agreement was executed prior to this transfer.

Transaction Details

Regulatory Compliance and Financial Impact

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also complies with SEBI Master Circular bearing reference no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company confirmed that the transaction does not fall within the ambit of related-party transactions and is not part of any Scheme of Arrangement under Regulation 37A of the LODR Regulations.

Financial details for Exclusive Quarries Private Limited reveal that its standalone revenue for the fiscal year ended March 31, 2026, was ₹49,52,363, contributing approximately 1.07% to the group's turnover. Its net worth stood at ₹9,29,53,331, representing about 6.79% of the consolidated net worth. Consequently, while the immediate financial impact on Royal India Corporation’s consolidated results is minimal due to the small revenue contribution, the cessation of subsidiary status may affect future consolidation requirements.

What the Numbers Show

The divestment of exactly 10% equity suggests a calibrated exit strategy rather than a complete sell-off, as Suryam retains a significant 41% stake. This residual holding indicates continued interest in the operations of Exclusive Quarries while reducing capital exposure or consolidating balance sheet metrics. The absence of a formal share purchase agreement noted in the disclosure is unusual for such transactions but may reflect specific internal transfer mechanisms or prior verbal agreements formalized through direct share transfers.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE510H01015/72c8360d-7267-48ab-b536-2095040e53c8.pdf