Dev Labtech Venture Limited announced that its Board of Directors has approved the strike-off of its wholly owned US subsidiary during their meeting held on January 22, 2026. The decision involves Dev Labtech Venture Inc. (USA), which had remained non-operational since its incorporation.

Board Resolution Details

The company's board meeting on January 22, 2026, formally approved the strike-off of Dev Labtech Venture Inc. (USA), subject to approval from relevant regulatory authorities in the United States. This corporate action has been communicated to BSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Subsidiary Performance Overview

The US subsidiary's financial contribution to the parent company has been minimal, as detailed in the regulatory disclosure:

Regulatory Compliance

Dev Labtech Venture Limited has fulfilled its disclosure obligations under SEBI regulations by providing comprehensive details about the subsidiary strike-off. The company submitted the required information as per Regulation 30 and Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Timeline and Process

The strike-off process is anticipated to take approximately 4 to 5 months, contingent upon receiving necessary approvals from US regulatory authorities. Since Dev Labtech Venture Inc. had no active business operations, the strike-off represents a streamlining of the company's corporate structure rather than a disposal of active business assets.

Corporate Structure Impact

This development will result in the elimination of a non-contributing subsidiary from Dev Labtech Venture Limited's corporate structure. The strike-off will have no material impact on the company's operations or financial performance, given the subsidiary's dormant status since incorporation.

Dev Labtech Venture Limited , a lab-grown diamond manufacturer, has reported a significant decrease in net profit for the half-year ended September 30, 2025, amid a sharp decline in revenue. The company's financial performance reflects challenges in the lab-grown diamond industry during this period.

Financial Highlights

Dev Labtech Venture reported a net profit of ₹33.67 lakh for the half-year, down from ₹119.04 lakh in the corresponding period of the previous year. This represents a 71.7% year-on-year decline in profitability. The company's revenue from operations also saw a substantial decrease, falling to ₹492.49 lakh from ₹1,951.35 lakh year-on-year, marking a 74.8% reduction.

Operational Updates

Despite the challenging financial performance, Dev Labtech Venture made several operational moves during the period:

1. Warrant Conversion: The company allotted 5,60,000 equity shares through warrant conversion, increasing its share capital from 1,13,03,139 to 1,18,63,139 equity shares of ₹10 each.

2. Capital Utilization: Dev Labtech has fully utilized the preferential issue proceeds of ₹2,227.04 lakh for capital expenditure and working capital requirements.

3. Subsidiary Operations: The company continues to operate with one wholly-owned subsidiary, Dev Labtech Venture Inc. (USA).

4. Trading Approvals: During the half-year, Dev Labtech received trading approvals from BSE for newly issued shares:

   • Trading approval for 5,20,000 equity shares on April 4, 2025
   • Listing and trading approval for 5,60,000 equity shares on July 16 and August 1, 2025, respectively

Balance Sheet Position

As of September 30, 2025, Dev Labtech Venture's balance sheet shows:

The company's inventory levels have decreased, while trade receivables have significantly increased, potentially indicating changes in working capital management or market conditions.

Industry Context

The significant decline in revenue and profitability suggests that Dev Labtech Venture may be facing industry-wide challenges or specific operational issues. The company's focus on capital expenditure and working capital management, as evidenced by the full utilization of preferential issue proceeds, indicates efforts to strengthen its operational foundation during this period.

Conclusion

Dev Labtech Venture Limited's financial results reflect the dynamic nature of the lab-grown diamond sector within the broader diamond industry. The company's performance in the coming quarters will be crucial to understand if this half-year result represents a temporary setback or a more prolonged challenge. Investors and industry observers will likely be watching closely for any strategic initiatives or market developments that could influence the company's future performance.