Valecha Engineering Limited has approved the sale of its entire equity stake in wholly-owned subsidiary Valecha Infrastructure Limited for an aggregate consideration of ₹4,20,000. The Board of Directors decided on June 5, 2026, to transfer 42,000 equity shares of ₹10 each to potential buyers. The transaction is scheduled for completion on July 1, 2026, as per the agreement entered into on June 30, 2026.

The subsidiary reported a turnover of nil and a negative net worth of ₹28,692.41 lakhs as on March 31, 2026. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Transaction Details

The company confirmed that the buyers do not belong to the promoter or promoter group, and the transaction does not qualify as a related party transaction. Vijaykumar Himatlal Modi, Company Secretary & Legal, signed the disclosure on behalf of Valecha Engineering Limited.

Valecha Engineering Limited's Board of Directors has approved the standalone and consolidated audited financial results for the fourth quarter and financial year ended March 31, 2026. The statutory auditors, M/s. Jain Jagavat Kamdar & Co., issued an audit report with an unmodified opinion on the financial statements. The company confirmed compliance with submission requirements following a delay caused by the adjournment of its initial Board meeting.

The Board meeting was originally scheduled for May 29, 2026, but could not be held due to a lack of quorum. Consequently, the meeting was adjourned to June 5, 2026, in accordance with Section 174(4) of the Companies Act, 2013. The trading window for promoters, directors, officers, and designated employees remained closed until 48 hours after the conclusion of the adjourned meeting.

The meeting on June 5, 2026, commenced at 4:00 PM and concluded at 10:30 PM. During this session, the Board approved the financial results and recorded the audit report. The company subsequently published extracts of the audited financial results in Active Times on June 7, 2026, and Mumbai Mitra on June 8, 2026.

In a communication to the stock exchanges dated June 18, 2026, Valecha Engineering addressed the non-disclosure of reasons for the delay in submitting the financial results. The company provided a timeline of events, including the notices for the original and adjourned Board meetings, to demonstrate compliance with regulatory requirements.

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