Counter Cyclical Investments Private Limited has filed a formal disclosure with the Securities and Exchange Board of India (SEBI) regarding its increased shareholding in dhp india Limited. The Nagpur-based portfolio management company, acting through its clients as persons in concert, acquired additional shares in the Kolkata-headquartered company on February 24, 2026.

Shareholding Transaction Details

The acquisition involved the purchase of 5,163 shares through open market transactions, representing 0.17% of DHP India's total share capital. This transaction increased Counter Cyclical Investments' total holding from 253,171 shares to 258,334 shares.

Regulatory Compliance and Filing

The disclosure was made in accordance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. Counter Cyclical Investments Private Limited, incorporated in 2018 with CIN U65999PN2018PTC175591, operates as a portfolio manager and does not belong to the promoter or promoter group of DHP India Limited.

The formal disclosure letter was addressed to both DHP India Limited at its Kolkata office and BSE Limited's Corporate Relationship Department. The company's registered office is located at FN 401 PN 16 Shirkey Building L/O Rajnagar SB Colony, Nagpur MH 440013.

Transaction Structure and Documentation

The acquisition was executed through Counter Cyclical Investments Private Limited acting as a Portfolio Manager, with the actual shareholding held through its clients who are considered persons acting in concert. All shares acquired carry voting rights, and no encumbrances, warrants, or convertible securities were involved in this transaction.

The disclosure was signed by Parminder Pal Singh Bhatia, Director of Counter Cyclical Investments Private Limited (DIN: 07159378), and submitted to both DHP India Limited and BSE Limited on February 25, 2026. The filing included the complete SEBI-prescribed format for substantial acquisition disclosures, confirming that DHP India's equity share capital remains unchanged at 30,00,000 shares following this transaction.

DHP India Limited has delivered a strong financial performance for the third quarter ended December 31, 2025, demonstrating resilient profitability despite challenging revenue conditions. The engineering goods manufacturer reported significant profit growth while maintaining its debt-free operational structure.

Financial Performance Overview

The company's quarterly and nine-month results showcase contrasting trends between profitability and revenue performance:

Revenue and Operational Metrics

For Q3FY26, DHP India's net revenue from operations declined to Rs 1,224.25 crore compared to Rs 1,394.25 crore in the corresponding quarter of the previous year. However, the nine-month performance showed robust growth with revenue reaching Rs 4,721.02 crore against Rs 3,809.99 crore in the previous year.

The company's revenue composition included sale of products worth Rs 1,032.25 crore and other operating income of Rs 224.82 crore for the quarter. Total expenses for Q3FY26 were Rs 1,187.38 crore, resulting in a profit before tax of Rs 162.18 crore.

Investment Portfolio Performance

A significant highlight of the quarter was the company's investment activities and portfolio performance. DHP India made substantial investments in Gold/Silver ETF funds worth Rs 1,172.27 crore during Q3FY26, while redeeming equity mutual funds worth Rs 1,498.04 crore, generating short-term capital gains of Rs 113.46 crore.

The investment portfolio valuation contributed to other comprehensive income:

Financial Strength and Ratios

DHP India maintained its strong financial position with a debt-free balance sheet. The company's net worth increased to Rs 25,118.63 crore as of December 31, 2025, compared to Rs 24,074.74 crore in the previous year. The interest service coverage ratio stood at 9.38 for the quarter, while the debt-equity ratio remained not applicable due to the absence of debt.

The total comprehensive income for Q3FY26, combining profit and other comprehensive income, reached Rs 820.24 crore. For the nine-month period, total comprehensive income was Rs 1,430.13 crore, reflecting the company's strong overall performance including investment gains.

Regulatory Compliance and Corporate Governance

The unaudited financial results were approved by the Board of Directors on February 13, 2026, following limited review by statutory auditors NKSJ & Associates. The company has complied with Regulation 30 of SEBI (LODR) regulations by publishing the results in Business Standard (Kolkata Edition) and Arthik Lipi (Bengali daily) newspapers.

Business Operations and Outlook

DHP India continues to focus on manufacturing engineering goods as its primary business segment. The company operates from its factory at Dhalagarh Industrial Park in West Bengal and maintains its registered office in Kolkata. The results demonstrate the company's ability to generate strong returns through both operational excellence and strategic investment management.