Suyog Gurbaxani Funicular Ropeways Limited (SGFRL) has announced a significant change in its promoter group shareholding. The company reported the transmission of 399,999 fully paid-up shares from a deceased promoter group member to his legal heir.

Key Details of the Share Transmission

Impact on Promoter Group

As a result of this transmission, Late Mr. Vivek Gurushantappa Lature will cease to be a part of the promoter group. This change will be reflected in the company's shareholding pattern for the quarter ending December 31, 2025.

Regulatory Compliance

SGFRL has made this disclosure on a voluntary basis, as the transmission does not trigger any specific disclosure requirement under Regulation 29 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company has stated that this change does not materially impact the shareholding or control of the company under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations.

Company Financial Overview

While this corporate action doesn't directly impact the company's financials, it's worth noting some key financial metrics from SGFRL's most recent balance sheet:

The company has shown significant growth in its total assets and current assets, indicating potential expansion or increased operational activities. However, the decrease in fixed assets might suggest asset disposals or depreciation effects.

Investors and stakeholders are advised to monitor future company announcements for any potential changes in strategy or operations that may result from this shareholding transition.

Suyog Gurbaxani Funicular Ropeways Limited (SGFRL) has reported robust financial results for the half year ended September 30, 2025, along with significant changes to its board composition. The company's performance and governance updates were disclosed in a recent filing to the BSE.

Financial Performance

SGFRL has shown impressive financial growth for the half-year period:

The company's cash position has seen a remarkable improvement, with cash and cash equivalents rising to Rs 74.14 crore from Rs 0.16 crore in the previous comparable period.

Board and Committee Changes

The company announced several changes to its board and committee structures:

1. Resignation: Mr. Ramlal Sarote has stepped down from his position as an Independent Director.

2. Audit Committee Reconstitution:

   • Shri Nandan Kumar Basu has been appointed as the new Chairman of the Audit Committee.
   • The reconstituted Audit Committee now comprises:
     • Nandan Kumar Basu (Chairman, Independent Director)
     • Mr. Rajkumar Dwarkadas Gurbaxani (Member, Whole-Time Director)
     • Mrs. Manisha Shelar (Member, Non-Executive and Independent Director)

3. Nomination and Remuneration Committee Update:

   • Shri Nandan Kumar Basu has been appointed as a member of this committee.
   • The updated Nomination and Remuneration Committee includes:
     • Hrishikesh Deodatta Marathe (Chairman, Director)
     • Shivshankar Gurushantappa Lature (Member, Director)
     • Nandan Kumar Basu (Member, Non-Executive and Independent Director)
     • Manisha Shelar (Member, Non-Executive and Independent Director)

These changes were effective from November 12, 2025, as per the company's filing.

Financial Review

The unaudited financial results for the half-year ended September 30, 2025, were reviewed by Aniket Kulkarni & Associates, Chartered Accountants. The review was conducted in accordance with the Standard on Review Engagement (SRE) 2410 and found no material misstatements in the financial information provided by the company.

SGFRL's strong financial performance, coupled with its proactive approach to corporate governance, suggests the company is positioning itself for continued growth and transparency in its operations. The significant increase in cash and cash equivalents may provide the company with enhanced financial flexibility for future investments or expansion plans.