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

Shareholders of Royal India Corporation Limited approved the appointment of Rishabh Sareen as an Executive and Non-Independent Director with overwhelming support during its Extra-Ordinary General Meeting (EGM) held on July 30, 2026. The special resolution passed with 99.93% of valid votes cast in favor, formalizing Sareen’s role within the company’s leadership structure. The meeting, conducted via Video Conferencing/Other Audio-Visual Mode (VC/OAVM), saw participation from 105 members who voted through remote e-voting or at the meeting, reflecting strong shareholder engagement in this governance matter.

The EGM was convened in accordance with Regulation 30(6) read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 108 of the Companies Act, 2013. Nitin Kamalkishore Gujral, Chairman and Managing Director, presided over the proceedings. M/s. Kaushal Doshi & Associates served as the Scrutinizer for the voting process, ensuring compliance with regulatory standards. Voting rights were determined based on shareholding as of the cut-off date, July 23, 2026.

Voting Results

The resolution to approve Rishabh Sareen’s appointment and remuneration received significant backing from public non-institutional shareholders, while promoter group members abstained from voting as they were not interested parties. The detailed voting breakdown is presented below:

Remote e-voting was conducted from July 27, 2026, to July 29, 2026, via National Securities Depository Limited (NSDL). At the meeting, 23 members cast votes electronically, contributing significantly to the final tally. Only one member voted against the resolution, casting 6,000 votes.

Key Attendees

The following directors participated in the meeting via VC:

Saurav Sharma, Executive Director, was unable to attend due to prior commitments. Mohit Kothari, Chief Financial Officer, and Jinal Shah, Company Secretary, represented the management team.

What the Numbers Show

The near-unanimous support for Rishabh Sareen’s appointment underscores shareholder confidence in the company’s leadership transition. With 99.93% approval, the resolution reflects minimal dissent among participating stakeholders. The absence of promoter voting aligns with standard governance practices where interested directors abstain from related-party transactions. This appointment strengthens the executive team, adding operational depth to the board’s oversight capabilities.