Sheshadri Industries Limited disclosed that promoter Jeetender Kumar Agarwal increased his stake to 65.19% through an off-market acquisition of shares on June 25, 2026. The transaction involved the purchase of 2,37,981 equity shares, representing 4.80% of the total voting capital, from Westend Developers Limited. This move strengthens the promoter's control over the entity following the disposal of shares by the public shareholder.

Prior to the transaction, Agarwal held 60.39% of the shares, amounting to 29,95,162 equity shares. Westend Developers Limited held 2,37,981 shares, which constituted 4.80% of the share capital before the sale. The acquisition was executed in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure confirms that Westend Developers Limited does not belong to the promoter or promoter group.

Following the transaction, the total equity share capital and total voting capital of Sheshadri Industries Limited remain unchanged at Rs. 4,95,95,770, divided into 49,59,577 equity shares of Rs.10 each. There were no changes to the encumbered shares or other instruments such as warrants and convertible securities. The mode of acquisition was off-market.

The table below details the changes in shareholding for both the promoter and the seller:

The company submitted the necessary documentation to the stock exchange on June 26, 2026. Rozie Mukharjee, Company Secretary and Compliance Officer for Sheshadri Industries Limited, signed the disclosure on behalf of the company. Anand Gupta, Director of Westend Developers Limited, authorized the disclosure regarding the disposal of shares.

Sheshadri Industries Limited reported a net profit of ₹215.61 lakh for the financial year ended March 31, 2026, a decline of 74% from ₹837.21 lakh in the previous year. Revenue from operations rose marginally to ₹2,824.65 lakh compared to ₹2,820.02 lakh in FY25. The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 28, 2026.

The company’s total income for FY26 stood at ₹3,405.41 lakh, down from ₹3,445.86 lakh in the previous year. Total expenses decreased to ₹2,961.97 lakh from ₹3,090.49 lakh in FY25. For the quarter ended March 31, 2026, the company reported a net profit of ₹96.79 lakh, while revenue from operations was ₹749.94 lakh.

Financial Performance

The following table outlines the key financial metrics for the year ended March 31, 2026, compared to the prior year:

The company’s net worth stood at negative ₹874.68 lakh as of March 31, 2026, compared to negative ₹1,090.30 lakh in the previous year. Total assets decreased to ₹2,961.97 lakh from ₹3,297.13 lakh, while total equity and liabilities also reduced to ₹2,961.97 lakh from ₹3,297.13 lakh.

Audit Qualifications

K.S. Rao & Co., Chartered Accountants, the statutory auditors, issued a qualified opinion on the financial results. The qualifications relate to the non-provision of interest payable on outstanding unpaid Tax Deducted at Source (TDS) dues amounting to ₹31.23 lakh. Additionally, the auditors noted long-pending payables aggregating to ₹648.82 lakh and capital advances of ₹21.33 lakh for which the limitation period has expired, stating they were unable to determine if adjustments were required due to insufficient evidence.

Other Disclosures

The Board approved the appointment of M/s. Lans & Co., Chartered Accountants, as internal auditors for the financial year 2026-27. Despite accumulated losses of ₹1,706.67 lakh and current liabilities exceeding current assets, the financial statements have been prepared on a going concern basis, considering the market value of the company's immovable properties.