Variman Global Enterprises Limited has officially announced the withdrawal of its proposal to acquire 7,600 equity shares of Cultnerd IT Solutions Private Limited. The company communicated this decision to BSE Limited through an official letter dated December 10, confirming the lapse of the preferential issue on swap basis.

Official Communication Details

Key Points of the Withdrawal

Background of the Proposal

The acquisition proposal was initially approved through a special resolution passed at an Extraordinary General Meeting of Variman Global Enterprises Limited on July 5. The plan involved a share-swap arrangement, representing a strategic move to expand the company's presence in the IT solutions sector.

Reasons for Non-Materialization

According to the official communication, the preferential issue on swap basis did not materialize despite receiving in-principle approval from BSE Limited on November 24. The company's letter indicates that the proposal has now lapsed, leading to the formal withdrawal announcement.

Corporate Governance and Compliance

The withdrawal announcement demonstrates Variman Global's commitment to transparent communication with regulatory authorities and stakeholders. The company's Managing Director D. Sirish digitally signed the official communication, ensuring proper authorization and compliance with regulatory requirements.

The company maintains its corporate office at Gagan Mahal, Hyderabad, and continues to keep stakeholders informed about significant corporate developments through proper channels.

Variman Global Enterprises Limited , a system integration and IT distribution hardware company, has announced its unaudited financial results for the second quarter and half-year ended September 30, 2025. The company's board of directors approved the results at a meeting held on November 13, 2025.

Consolidated Performance

Variman Global Enterprises reported a consolidated total income of Rs. 3,311.06 lakhs for Q2 FY26, with revenue from operations standing at Rs. 3,205.28 lakhs. The company achieved a net profit of Rs. 208.49 lakhs on a consolidated basis for the quarter.

Standalone Performance

On a standalone basis, the company's performance was less robust:

Subsidiary Contributions

The consolidated results include the performance of four subsidiary companies:

1. Verteex Vending and Enterprises Solutions Private Limited
2. Straton Business Solutions Private Limited
3. V Joist Innovation Private Limited
4. Copact Edtech Private Limited

For the half-year ended September 30, 2025:

• Straton Business Solutions Private Limited reported revenues of Rs. 607.54 lakhs and a net profit of Rs. 3.08 lakhs.
• Verteex Vending and Enterprises Solutions Private Limited achieved revenues of Rs. 1,082.43 lakhs and a net profit of Rs. 10.82 lakhs.
• V Joist Innovation Private Limited and Copact Edtech Private Limited did not report any revenue or profit for the period.

Financial Position

As of September 30, 2025, Variman Global Enterprises' consolidated balance sheet showed:

Cash Flow

The company's consolidated cash flow statement for the half-year ended September 30, 2025, revealed:

• Net cash from operating activities: Rs. 177.20 lakhs
• Net cash used in investing activities: Rs. (85.81) lakhs
• Net cash flow from financing activities: Rs. (157.74) lakhs

The consolidated cash and cash equivalents at the end of the period stood at Rs. 32.62 lakhs, compared to Rs. 99.86 lakhs at the beginning of the year.

Auditor's Review

MM Reddy & Co., Chartered Accountants, conducted an independent review of the financial results. They noted that the consolidated figures for the corresponding quarters ended September 30, 2024, and June 30, 2025, were approved by the parent company's Board of Directors but had not been subjected to review.

The auditors performed procedures in accordance with SEBI regulations and found no material misstatements in the financial results. They emphasized that the interim financial information of the subsidiary companies was reviewed by other auditors.

Variman Global Enterprises Limited continues to navigate the competitive IT hardware distribution and system integration market. While the consolidated results show profitability, the standalone performance indicates challenges that the company may need to address in the coming quarters.