Gitaben Nitinbhai Patel Acquires 23.60% Stake in Antariksh Industries Through Open Offer

Antariksh Industries has undergone a significant change in its ownership structure following a recent open offer. Gitaben Nitinbhai Patel has successfully acquired a substantial stake in the company, marking a notable development in Antariksh Industries' shareholding pattern.

Key Details of the Acquisition

Aspect	Details
Acquirer	Gitaben Nitinbhai Patel
Shares Acquired	47,199
Stake Percentage	23.60%
Acquisition Date	October 28, 2025
Acquisition Method	Open Offer
Share Face Value	Rs. 10.00 each

Transaction Background

The acquisition was executed through an open offer, following a Letter of Offer dated September 19, 2025. This strategic move has resulted in Gitaben Nitinbhai Patel gaining a significant foothold in Antariksh Industries.

Pre and Post-Acquisition Shareholding

Period	Shares Held by Gitaben Nitinbhai Patel
Pre-Acquisition	0
Post-Acquisition	47,199 (23.60% of total share capital)

Company Overview

Antariksh Industries, has a total equity share capital structure as follows:

Aspect	Details
Total Equity Share Capital	Rs. 20,00,000.00
Number of Equity Shares	2,00,000
Face Value per Share	Rs. 10.00

This acquisition represents a significant change in the ownership structure of Antariksh Industries, with Gitaben Nitinbhai Patel emerging as a major shareholder. The impact of this change on the company's future direction and performance remains to be seen.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
0.0%	0.0%	0.0%	0.0%	0.0%	-100.00%

Antariksh Industries Limited has released its unaudited financial results for the quarter and half-year ended September 30, revealing a significant decline in revenue and profit compared to the same period last year.

Financial Performance Highlights

The company, which operates in real estate and trading activities, reported the following key figures for Q2:

Metric	Q2 2025	Q2 2024	YoY Change
Revenue	₹154.54	₹1,484.14	-89.59%
Net Profit	₹0.94	₹20.40	-95.39%
Basic EPS	₹0.47	₹10.20	-95.39%

For the half-year ended September 30:

Metric	H1 2025	H1 2024	YoY Change
Revenue	₹495.01	₹2,308.70	-78.56%
Net Profit	₹1.08	₹34.39	-96.86%

Balance Sheet Overview

The company's balance sheet as of September 30 showed significant changes compared to March 31:

Metric	Sept 30, 2025	March 31, 2025	Change
Total Assets	₹186.00	₹726.39	-74.39%
Trade Receivables	₹181.81	₹379.07	-52.04%
Trade Payables	₹10.97	₹547.09	-97.99%

Management Commentary

The financial results were approved by the Board of Directors at their meeting held on October 10. The company's Managing Director, Bhagwanji Narsi Patel, oversaw the approval of these results.

Auditor's Review

D M K H & Co., Chartered Accountants, conducted a limited review of the financial results. They stated that nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards and other recognized accounting practices and policies.

Key Observations

The company experienced a sharp 89.59% year-over-year decline in quarterly revenue.
Net profit for the quarter decreased by 95.39% compared to the same period last year.
Total assets reduced by 74.39% from March 31 to September 30.
Trade payables saw a substantial reduction of 97.99%, dropping from ₹547.09 lakh to ₹10.97 lakh.

The significant decline in revenue and profit suggests challenging market conditions for Antariksh Industries' real estate and trading activities. The sharp decrease in trade payables indicates a substantial reduction in the company's short-term obligations to creditors, which could be a result of settling accounts or a decrease in business activity.