Trio Mercantile & Trading Ltd reported its unaudited financial results for the quarter ended June 30, 2026, showing a substantial increase in total income. The company recorded a total income from operations of ₹108.402 crore for Q1FY27, a rise from the ₹59.604 crore reported in the corresponding quarter of the previous year. For the financial year ended March 31, 2026, the total income stood at ₹353.462 crore.

The net profit after tax for the quarter ended June 30, 2026, was ₹6.153 crore, compared to ₹7.602 crore in the quarter ended June 30, 2025. The net profit before tax for the period was ₹6.153 crore, down from ₹10.262 crore in the prior year's quarter. For the year ended March 31, 2026, the company reported a net loss after tax of ₹5.363 crore.

The equity share capital remained constant at ₹1358.732 crore across the reported periods. Reserves, excluding revaluation reserves, were reported at ₹1025.989 crore for the year ended March 31, 2026. The company reported basic and diluted earnings per share (EPS) of ₹0.009 for Q1FY27, compared to ₹0.011 in the same quarter of the previous year.

Financial Summary

The results were filed with the stock exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The detailed financial results are available on the websites of the BSE and the company.

Kaushik Jagannath Joshi and Persons Acting in Concert (PACs) have announced a mandatory open offer to acquire up to 50% of the equity shares of Trio Mercantile & Trading Limited at ₹1.25 per share. The offer, totaling ₹4,24,60,375, is scheduled to open on July 20, 2026, and close on July 31, 2026. The transaction was triggered by a Share Purchase Agreement (SPA) dated May 26, 2026, for the acquisition of 32,66,558 equity shares representing 4.81% of the paid-up capital from promoter Hiren Shantilal Kothari. If fully subscribed, the acquirer and PACs aim to increase their aggregate holding to 61.44% of the voting share capital.

The open offer is being made in compliance with Regulation 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Interactive Financial Services Limited has been appointed as the Manager to the Offer, while Bigshare Services Private Limited acts as the Registrar to the Offer. The offer price of ₹1.25 per share is calculated in accordance with Regulation 8(1) and 8(2) of the SEBI (SAST) Regulations. The payment will be made in cash, and the offer is not subject to any minimum level of acceptance.

Offer Details

The offer targets 3,39,68,300 fully paid equity shares of face value ₹2.00 each, constituting 50.00% of the issued and subscribed capital of the target company. The underlying transaction involves the acquisition of 4.81% of the voting share capital, which by itself does not result in the acquirer holding more than 25%. However, upon full acceptance of the open offer, the acquirer and PACs will hold 61.44% of the voting share capital.

Transaction Structure

The acquirer and PACs entered into an SPA with Hiren Shantilal Kothari to acquire 32,66,558 equity shares at ₹1.00 per share, aggregating to ₹32,66,558. This represents 4.81% of the paid-up equity share capital. Post the completion of the offer formalities, the seller will be reclassified as a public shareholder per Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Acquirer and PACs

The acquirer, Kaushik Jagannath Joshi, is acting along with four PACs: Amita Jagannath Joshi, Krishna Kaushik Joshi, Radhika Kaushik Joshi, and Kaushik Joshi HUF. Prior to the transaction, the group held 45,03,807 equity shares, comprising 6.63% of the voting capital. Following the proposed acquisition and the open offer, their aggregate holding is expected to rise significantly, potentially giving them control over the target company.

Tendering Process

The open offer will be implemented through the stock exchange mechanism provided by BSE Limited via a separate "Acquisition Window". NNM Securities Private Limited has been appointed as the Buying Broker. Shareholders holding shares in physical form are eligible to tender their shares in accordance with SEBI circulars dated July 31, 2020, and December 03, 2018. Public shareholders must intimate their respective stock brokers during the tendering period to place bids.

A Detailed Public Statement (DPA) was published in newspapers on May 31, 2026, in compliance with Regulation 13(4) of the SEBI (SAST) Regulations. The shares of Trio Mercantile & Trading Limited are listed on BSE Limited with the scrip code 534755.