Deep Health AI India Limited has announced a substantial acquisition of shareholding in Exxaro Tiles Limited, disclosing an 8.23% stake acquisition under SEBI's regulatory framework. The acquisition represents a significant investment move by the acquirer in the tiles manufacturing sector.

Acquisition Details

The substantial acquisition involved the purchase of 3,68,37,332 equity shares of face value Rs. 1 each in Exxaro Tiles Limited. The transaction was executed through open market purchases conducted between November 19, 2025, and February 24, 2026.

Shareholding Analysis

The acquisition represents a strategic increase in Deep Health AI's position in Exxaro Tiles Limited. Prior to this transaction, the company held a smaller stake in the target company.

Regulatory Compliance

Deep Health AI India Limited has fulfilled its disclosure obligations under Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company has submitted the required documentation to both the target company and the stock exchanges where Exxaro Tiles shares are listed.

Key regulatory aspects of the transaction include:

• Compliance with SEBI SAST Regulations
• Formal disclosure to BSE Limited and NSE Limited
• Notification to Exxaro Tiles Limited's compliance officer
• Confirmation that the acquirer does not belong to the promoter or promoter group

Company Information

Deep Health AI India Limited, formerly known as Deep Diamond India Limited, operates with its registered office in Mumbai, Maharashtra, and corporate office in Udaipur, Rajasthan. The company's acquisition of the substantial stake in Exxaro Tiles Limited demonstrates its investment strategy in the building materials sector.

The transaction maintains Exxaro Tiles Limited's total equity share capital at Rs. 44,74,10,700, with no changes to the overall capital structure of the target company.

Exxaro tiles Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, following approval by the Board of Directors at their meeting held on February 14, 2026. The board meeting commenced at 11:00 A.M. and concluded at 12:30 P.M.

Board Meeting Outcomes

The Board of Directors approved and took on record the unaudited financial results (standalone and consolidated) for the quarter and nine months ended December 31, 2025. The financial results were prepared in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with limited review reports from statutory auditors.

Quarterly Financial Performance

The company's consolidated financial results for Q3FY26 showed mixed performance compared to the previous year. Revenue from operations decreased to ₹7,010.93 lakhs from ₹7,943.60 lakhs in Q3FY25, representing a decline in quarterly operational income.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Exxaro Tiles demonstrated improved performance with a significant turnaround in profitability. The company moved from a loss position to profitability during this period.

Auditor Review and Compliance

The unaudited financial results underwent limited review by H.B. Kalaria & Associates, the company's statutory auditors. The auditors confirmed that the financial results were prepared in accordance with Indian Accounting Standard 34 "Interim Financial Reporting" and comply with SEBI listing regulations.

Corporate Structure and Operations

The company operates in manufacturing and trading of refractory ceramic products, specifically vitrified tiles. As a single-segment business, segment reporting is not applicable under Indian Accounting Standard 108. The consolidated results include performance of subsidiary Exxaro Ceramic Limited, with paid-up equity share capital of ₹4,474.11 lakhs at face value of ₹1 per share.