VR Woodart Expands into Stainless Steel Trading with Strategic Acquisitions

V R Woodart Limited, a company listed on the Bombay Stock Exchange (BSE: 523888), has announced a significant move into the stainless steel trading sector through strategic acquisitions. The company's board of directors has approved the purchase of 100% stakes in two companies: Nidimo Mont Private Limited and Parent Mont International Private Limited.

Acquisition Details

Aspect	Details
Total Acquisition Cost	Approximately INR 3.20 crores
Nidimo Mont Pvt Ltd	INR 3.10 crores for 31 lakh equity shares
Parent Mont International Pvt Ltd	INR 0.10 lakhs for 1 lakh equity shares
Share Price	INR 10.00 per share (face value)
Sellers	Mrs. Minal Patil and Ms. Mounika Maddukuri
Completion Timeline	By end of Q3 FY 2025-26
Funding Method	Cash consideration

Strategic Rationale

The acquisition aims to strengthen V R Woodart's position in the stainless steel market. Both target companies are engaged in trading, import, and export of stainless steel products and alloys. This move is expected to:

Increase V R Woodart's customer base
Introduce new products for sales
Ensure continuous supply of stainless steel at market-driven rates
Gain a competitive advantage in the stainless steel and alloy market

Business Transfer Agreements

Both acquired entities have entered into business transfer agreements with established partnership firms:

Nidimo Mont Pvt Ltd with Nidimo International (FY 2025 turnover: INR 531.22 crores)
Parent Mont International Pvt Ltd with Parent Mont (FY 2025 turnover: INR 1965.33 crores)

Related Party Transaction

The acquisition is classified as a related party transaction. Mrs. Minal Patil and Ms. Maddukuri Mounica, the current owners of the acquired companies, will be reclassified as part of V R Woodart's promoter group. The company has stated that the transaction is being conducted at arm's length, with the share price based on a valuation report from a registered valuer.

Management Changes

Concurrent with this acquisition, V R Woodart has announced significant changes in its management structure:

Director	Position	Action
Mr. Anwar Shaikh	Whole-Time Director	Resigned
Mrs. Divya Pai	Non-Executive Director	Resigned
Mr. Kartik Jethwa	Independent Director	Resigned
Mr. Manan Shah	Independent Director	Resigned
Mr. Vinit Rathod	Independent Director	Resigned
Mrs. Minal Patil	Additional (Whole Time) Director & Chairperson	Appointed

These management changes, effective immediately from October 16, 2025, mark a significant shift in the company's leadership coinciding with its strategic expansion into the stainless steel sector.

The acquisitions and management restructuring signal a transformative phase for V R Woodart as it diversifies its business interests and positions itself for growth in the stainless steel market.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.98%	+9.76%	+1.96%	+74.25%	+1,060.28%	+928.85%

VR Woodart Limited , a company listed on the Bombay Stock Exchange, has announced comprehensive changes to its corporate structure and business operations following a board meeting held on December 23, 2025. The company continues its leadership transformation while expanding into new business verticals.

Leadership Remuneration and New Appointments

The board has approved remuneration packages for recently appointed directors and made additional key appointments:

Position	Name	Term	Status
Whole Time Director/Chairperson	Ms. Minal Patil	3 years (Oct 15, 2025 - Oct 14, 2028)	Remuneration approved
Whole Time Director & CEO	Ms. Maddukuri Mounika	3 years (Oct 15, 2025 - Oct 14, 2028)	Remuneration approved
Non-Executive Director	Mr. Tejas Narendra Patil	Subject to shareholder approval	New appointment
Independent Director	Mr. Abhijeet Krishna Yerukar	5 years (Dec 23, 2025 - Dec 22, 2030)	New appointment

All appointments are subject to shareholder approval at the upcoming Extraordinary General Meeting scheduled for January 14, 2026.

Committee Restructuring

Following the management changes, the company has reconstituted its key committees:

Audit Committee: Mr. Manish Jhanwar (Chairman), Mrs. Madhura Singh, and Mr. Tejas Narendra Patil

Nomination and Remuneration Committee: Mr. Manish Jhanwar (Chairman), Mr. Abhijeet Krishna Yerukar, and Mr. Tejas Narendra Patil

Stakeholders Relationship Committee: Mrs. Madhura Singh (Chairperson), Mr. Abhijeet Krishna Yerukar, and Mr. Tejas Narendra Patil

Auditor Change and Business Expansion

The board appointed M/s. KPN & Co. Chartered Accountants as statutory auditors to fill the casual vacancy caused by the resignation of M/s. Thakur Vaidyanath Aiyar & Co. The new auditors will serve until the next annual general meeting.

Significantly, the company has proposed changing its name from V.R. Woodart Limited to Megamont Limited, subject to regulatory and shareholder approvals. This change aligns with the company's expansion into petroleum products and mining operations.

New Business Verticals

The company plans to alter its Memorandum of Association to include trading and dealing in petroleum products and carbon materials, including petroleum coke, calcined petcoke, coal, graphite, and carbon products. Additionally, the business scope will extend to iron ore, manganese ore, bauxite, limestone, gypsum, and other metallic and non-metallic minerals, along with mining-related activities.

Corporate Changes

The registered office will shift from Walkeshwar, Mumbai to Marol MIDC, Andheri East, Mumbai. The company has scheduled an Extraordinary General Meeting for January 14, 2026, to seek shareholder approval for all proposed changes, marking a significant transformation in the company's business model and corporate structure.