Switching Technologies Gunther Ltd reported a net profit of ₹655.22 Lakhs for the financial year ended March 31, 2026, reversing the net loss of ₹677.96 Lakhs recorded in the previous year. Revenue from operations for the year stood at ₹824.72 Lakhs, while total revenue was ₹826.34 Lakhs. The turnaround was driven by an exceptional item of ₹1,610.25 Lakhs, representing a write-back of credit and certain debit balances. The board approved the audited standalone financial results at its meeting held on May 25, 2026.

The board approved the appointment of Mr. Nikhil Pujari as an Additional Director in the capacity of Executive Director. Additionally, the company appointed Mr. Sougata Sengupta and Ms. Rakhi Sharma as Additional Directors in the capacity of Independent Directors. All appointments are effective from May 25, 2026, and are subject to the applicable provisions of the Companies Act, 2013 and SEBI Regulations.

Director Profiles

Mr. Nikhil Pujari (DIN: 11224770) is a management professional holding a Master's degree in Marketing with experience in the FMCG industry. Mr. Sougata Sengupta (DIN: 00614643) is a seasoned board professional and corporate strategist with over 30 years of leadership experience. Ms. Rakhi Sharma (DIN: 10697694) is an accomplished business leader with over 15 years of experience in financial services, microfinance, and fintech.

Business Transfer and Strategic Shifts

During the quarter ending March 31, 2026, the company received ₹300 Lakhs from Canolli Manufacturing Private Limited pursuant to a Business Transfer Agreement dated December 11, 2025. The total consideration for the transfer of the business as a going concern on a slump sale basis is ₹425 Lakhs. Furthermore, the board approved a change in the object clause to include the construction and operation of food processing units.

Financial Performance

Despite the annual profit, the company's accumulated losses as of March 31, 2026, aggregated to ₹832.62 Lakhs, resulting in the complete erosion of its net worth. Basic earnings per share for the year were ₹26.74. The company's financial statements were prepared on a going concern basis, acknowledging material uncertainty due to current liabilities exceeding current assets by ₹733.64 Lakhs as of March 31, 2025.

Switching Technologies Gunther Ltd received a disclosure dated May 15, 2026, filed with BSE Limited under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure was submitted by M/s. Touristas Horizons (P) Ltd and M/s. BBU Enterprises (P) Ltd, both identified as promoter/promoter group entities, informing the exchange of a substantial acquisition of equity shares in the target company. Subsequently, D & A Financial Services (P) Limited, acting as Manager to the Offer, filed a Post Offer Advertisement on May 16, 2026, in compliance with Regulation 18(12) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, on behalf of the acquirers — M/s BBU Enterprises Private Limited, M/s Touristas Horizons Private Limited, and Mr. Nikhil Pujari.

Acquisition Details

The acquirers, acting in concert, collectively acquired 5,05,722 equity shares of Switching Technologies Gunther Ltd on May 14, 2026. The shares were acquired pursuant to an open offer made under Regulation 3(1) and Regulation 4 of the SEBI (SAST) Regulations, 2011, through shares tendered by public shareholders. Each of the two corporate acquirers — Touristas Horizons (P) Ltd and BBU Enterprises (P) Ltd — acquired 2,52,861 equity shares individually, together accounting for 20.64% of the total share and voting capital of the target company.

The following table summarises the shareholding position of the acquirers before and after the acquisition:

Post Offer Advertisement — Key Offer Details

The Detailed Public Statement (DPS) for the open offer was published on Monday, February 02, 2026, across multiple newspaper editions. The offer opened on Thursday, April 16, 2026, and closed on Wednesday, April 29, 2026, with the last date of payment of consideration being Thursday, May 14, 2026. The post-offer advertisement was published on May 16, 2026, in all editions of Financial Express (English), Jansatta (Hindi), Chennai edition of Makkal Prathinithi (Tamil), and Mumbai edition of Mumbai Lakshadweep (Marathi).

The following table presents a comparison of the proposed and actual offer outcomes:

Note: *The equity shares to be acquired in terms of the Share Purchase Agreement have not yet been transferred in the name of the Acquirers.

Capital Structure of the Target Company

The equity share capital of Switching Technologies Gunther Ltd remains unchanged both before and after the acquisition. The following table outlines the capital structure:

Acquirer Details

The disclosure was signed by Simran Agarwal, Director of Touristas Horizons (P) Ltd, on behalf of both corporate acquirers, from Kolkata on May 15, 2026. Key details of the acquirers are as follows:

The mode of acquisition was through the open offer process, with shares tendered by public shareholders of the target company. Prior to this transaction, neither corporate acquirer held any equity shares, voting rights, warrants, convertible securities, or any other instruments entitling them to shares carrying voting rights in Switching Technologies Gunther Ltd. The third acquirer, Mr. Nikhil Pujari, is a citizen of India residing in Rajasthan.

Regulatory Compliance

The original disclosure was filed by the Company Secretary and Compliance Officer, S. Ramesh, with the Corporate Relationship Department of BSE Limited via the BSE Listing Centre Online portal, bearing reference number BSE/SEC/203/2026, in compliance with Regulation 29(1) of the SEBI (SAST) Regulations, 2011. The Post Offer Advertisement was issued by D & A Financial Services (P) Limited, Manager to the Offer, from New Delhi on May 16, 2026, and is also available on the SEBI website. The acquirers have accepted full responsibility for the information contained in the Post Offer Advertisement and are jointly and severally responsible for the fulfilment of obligations under the offer as laid down in the SEBI (SAST) Regulations, 2011.