Sayaji Industries completes sale of Ahmedabad land for ₹73 crore

1 min read | Published on 19 Oct 2026, 04:17 PM |Updated on 19 Oct 2026, 04:17 PM

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Shriram SScanX News Team

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Key Highlights

Completed sale of 63,787 sqm idle land in Ahmedabad
Total consideration received was ₹73 crore
Buyer is a third party, not part of promoter group
Transaction does not qualify as a related party deal
Asset contributed no revenue or net worth in last FY

*this image is generated using AI for illustrative purposes only.

Sayaji Industries completed the sale of its idle land in Ahmedabad for ₹73 crore on October 19, 2026. The transaction involved a parcel measuring 63,787 square meters located at Village Kathwada.

The company executed a conveyance deed for the sale, adhering to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The land is situated at Survey No. 1300 (old Survey No. 174), Final Plot No. 34/2, Taluka Dascroi, District Ahmedabad.

Transaction details

The sale was conducted with a third-party transferee. The company confirmed that the buyer does not belong to the promoter group or any group companies. Consequently, the transaction does not fall within the purview of related party transactions.

Particular	Details
Sale consideration	₹73 crore
Land area	63,787 sqm
Location	Village Kathwada, Ahmedabad
Buyer type	Third party
Related party transaction	No

Regulatory compliance

This disposal follows an earlier intimation dated December 11, 2023, regarding the postal ballot results. The company disclosed the completion of the sale under Paragraph 1.4 of Part A of Annexure 18 to the SEBI Master Circular dated January 30, 2026.

What the numbers show

The disclosure indicates that the asset sold was classified as idle land. The company stated that the turnover, revenue, income, and net worth contributed by this specific unit were not applicable for the last financial year. This suggests the land was non-operational prior to the sale, allowing the company to monetize an unused asset without impacting core operational revenue streams.

Historical Stock Returns for Sayaji Industries

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.50%	+0.79%	+2.58%	+0.97%	+0.97%	+0.97%

How does Sayaji Industries plan to deploy the ₹73 crore proceeds from the land sale to enhance shareholder value?

What is the estimated one-time gain on the sale of the Ahmedabad land, and how will it impact Sayaji's FY27 net profit margins?

Does this disposal signal a broader strategic shift towards divesting non-core assets to streamline Sayaji Industries' balance sheet?

Sayaji Industries

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Sayaji Industries adopts FY26 results; all AGM resolutions pass unanimously

2 min read | Published on 22 Sept 2026, 11:49 AM |Updated on 22 Sept 2026, 07:26 PM

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Shriram SScanX News Team

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Key Highlights

All four AGM resolutions passed with 100% votes in favour and zero against
FY26 audited financial statements adopted by shareholders on September 21, 2026
Varun P. Mehta reappointed as Director; his remuneration for FY28-FY29 approved
Promoter group abstained from voting on related-party resolutions as per regulations

*this image is generated using AI for illustrative purposes only.

Sayaji Industries Limited conducted its 85th Annual General Meeting on September 21, 2026, through video conferencing. Shareholders adopted the audited financial statements for the year ended March 31, 2026, and ratified the appointment of cost auditors. All four resolutions proposed at the meeting were passed with 100% of the votes cast in favour.

The meeting was chaired by Varun Priyambhai Mehta, CEO and Executive Director, following the absence of Managing Director Priyam B. Mehta. Statutory auditors Shah and Shah Associates and secretarial auditor Amrish Gandhi and Associates were present.

Business Transacted

The resolutions passed during the meeting included the adoption of the standalone and consolidated financial results for FY26. The reports of the statutory auditors on these results were unqualified without adverse remarks. Shareholders reappointed Varun P. Mehta as Director, who retires by rotation. They also approved his remuneration as Executive Director for the tenure from April 1, 2027, to March 31, 2029. Additionally, the remuneration payable to M/s Dalwadi and Associates, Cost Accountants, for the financial year 2026-27 was ratified.

Voting Results Summary

The scrutinizer’s report submitted on September 22, 2026, confirmed that no votes were cast against any of the resolutions. For the adoption of financial statements and ratification of cost auditor remuneration, promoter group members voted in large numbers via remote e-voting. For the reappointment of Varun P. Mehta and approval of his remuneration, promoter group members abstained from voting as they are interested parties, resulting in lower total votes polled but maintaining a 100% favourable ratio among those who voted.

Resolution	Type	Votes in Favour	Result
Adoption of FY26 Financial Statements	Ordinary	18,806,521	Passed
Reappointment of Varun P. Mehta	Ordinary	73,081	Passed
Ratification of Cost Auditor Remuneration	Ordinary	18,806,521	Passed
Approval of Varun P. Mehta’s Remuneration	Special	73,081	Passed

Key Attendees

Name	Designation
Mr. Varun Priyambhai Mehta	CEO and Executive Director
Mrs. Sujata P Mehta	Non-Executive Director
Mr. Amit Nareshchandra Shah	Whole Time Director (Technical)
Mr. Chiranjiv Chiragbhai Patel	Independent Director
Mr. Birad Yajnik	Independent Director
Mr. Bharat P Mandalia	Independent Director

Mr. Vishnu H Thaker, Company Secretary and Compliance Officer, and Mr. Niravkumar C Mistry, Chief Financial Officer, represented the key management personnel.

Historical Stock Returns for Sayaji Industries

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.50%	+0.79%	+2.58%	+0.97%	+0.97%	+0.97%

How will the two-year remuneration package approved for Varun P. Mehta impact Sayaji Industries' operating expenses and profit margins in FY27 and FY28?

Given the significant disparity in voting participation between financial adoption and director reappointment, what measures is the company taking to improve minority shareholder engagement in future governance matters?

What specific strategic initiatives or capital expenditure plans are outlined in the FY26 consolidated results that might drive growth for the upcoming fiscal year?

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