Tirupati Foam Limited has approved the sale of surplus land and building situated in Noida to Neumann Components Pvt Ltd for a minimum consideration of ₹30 crore. The Board of Directors approved the transaction at its meeting held on July 20, 2026. The property, measuring approximately 9,325 Sq. Meters, is located at Plot No. 5, Ecotech I, Extension Greater Noida Ind Area, Dist: Gautambuddh Nagar, Uttar Pradesh. The company stated that minimal business operations were carried out on the said land and building, and the sale will not impact its business operations.

The sale is subject to shareholder approval at the upcoming 39th Annual General Meeting (AGM). The agreement will be executed after obtaining the necessary consent. The transaction is expected to be completed within a period of six months upon compliance with all applicable laws. The purchaser is an independent party and is not related to the Promoter, Promoter Group, or Group Companies of the company. None of the Promoters, Directors, Key Managerial Personnel, or their relatives are interested in the transaction.

The company noted that the sale does not constitute an undertaking or substantially the whole of the undertaking under section 180(1)(a) of the Companies Act, 2013. Consequently, it does not attract the terms of regulation 37A of the LODR Regulations. The proposed transaction is not part of any Scheme of Arrangement.

Key Transaction Details

Tirupati Foam reported a 10% decline in net profit to ₹192.46 crore for the financial year ended March 31, 2026, compared to ₹213.75 crore in the previous year, as revenue from operations fell 10.4% to ₹9,500.53 crore. The board of directors approved the audited standalone financial results for the fourth quarter and full year on May 29, 2026, following a recommendation by the audit committee.

For the quarter ended March 31, 2026, the company posted a net profit of ₹51.31 lakh, a decrease from ₹62.35 lakh in the corresponding period of the previous year. Revenue from operations for the quarter stood at ₹2,437.88 lakh, down from ₹2,772.99 lakh in the same period last year. Total income for the year declined to ₹9,537.66 lakh from ₹10,652.68 lakh in FY25.

The board also took note of the omnibus approval of non-material related party transactions by the audit committee and approved changes in the category of non-executive directors and non-independent directors over the MCA Portal. The meeting commenced at 3:00 PM and concluded at 4:10 PM.

The statutory auditors, M/s F P & Associates, issued an audit report with an unmodified opinion on the audited financial results. The financial statements were prepared in accordance with the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013. The company operates a single business segment.

Basic and diluted earnings per share (EPS) for the year stood at ₹4.37, compared to ₹4.85 in the previous year. The paid-up equity share capital remained constant at ₹440.70 lakh with a face value of ₹10 per share.