Samyak International Limited has successfully completed the sale of its material subsidiary Alpha Tar Industries Private Limited (ATIPL) for ₹2.60 crore, following overwhelming shareholder approval through postal ballot. The company announced the completion of the transaction on March 11, 2026, marking the cessation of ATIPL as a material subsidiary.

Postal Ballot Process and Shareholder Approval

The Board of Directors had appointed CS Ajit Jain, Proprietor of M/s. Ajit Jain & Co., as scrutinizer for conducting the postal ballot process on January 30, 2026. The resolution sought approval for the divestment under Section 180(1)(a) of the Companies Act, 2013, read with Regulation 24(5) and 37A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Voting Results and Overwhelming Support

The postal ballot process demonstrated exceptional shareholder support, with the resolution passing by an overwhelming majority. The e-voting facility was provided through Central Depository Services (India) Limited (CDSL) to ensure a transparent and secure voting process.

Transaction Completion and Financial Details

Samyak International Limited executed the sale agreement on March 11, 2026, with the consideration amount of ₹2.60 crore received accordingly. The subsidiary contributed significantly to the company's operations, with income of ₹7.35 crore representing 17.85% of total revenue and net worth of ₹3.19 crore representing 6.13% of total net worth as per audited financial statements for March 31, 2025.

Buyer Details and Transaction Structure

The shares have been sold to two entities: Satiate Agri Limited (CIN: L24111MP1986PLC003741) and Shanaya Real Estate Private Limited (CIN: U70109MP2016PTC040918), both having registered offices in Indore, Madhya Pradesh. The buyers are not related to the promoter/promoter group/group companies, though the transaction falls under related party transactions and has been conducted on an arm's length basis.

Regulatory Compliance and Process

CS Ajit Jain submitted his scrutinizer's report confirming that the special resolution was passed with the requisite majority on March 04, 2026. The voting process was conducted in strict compliance with the Companies Act, 2013, and SEBI regulations. The company has fulfilled all regulatory requirements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and informed BSE Limited about the cessation of the material subsidiary.

The successful completion of this divestment reflects strong shareholder confidence in the company's strategic decisions and enables Samyak International Limited to focus on its core business operations while maintaining robust corporate governance practices.

Samyak International Limited has filed its unaudited financial results for the third quarter of fiscal year 2026 with BSE Limited on February 14, 2026. The submission includes both standalone and consolidated financial statements for the quarter and nine months ended December 31, 2025, prepared in accordance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance and Documentation

The company submitted comprehensive documentation to fulfill its regulatory obligations under SEBI guidelines. Company Secretary and Compliance Officer Nancy Jain signed the submission letter, confirming adherence to all applicable disclosure requirements.

Auditor Review and Certification

M/s. Ashok Khasgiwala & Co. LLP, the company's statutory auditor, conducted limited reviews of both standalone and consolidated financial results. The auditor issued separate review reports confirming that the financial statements comply with Indian Accounting Standard 34 (Ind AS 34) for Interim Financial Reporting and other applicable accounting principles.

The review was conducted in accordance with Standard on Review Engagement (SRE) 2410, which requires moderate assurance regarding material misstatements in financial statements. The auditor confirmed that nothing came to their attention suggesting non-compliance with regulatory disclosure requirements.

Consolidated Entity Structure

The consolidated financial results include the performance of Samyak International Limited along with its subsidiaries and associate company. The group structure encompasses multiple business entities across different sectors.

SEBI Compliance Disclosures

As part of the regulatory filing, Samyak International confirmed that several standard SEBI disclosure requirements were not applicable to the current quarter's results. These included statements on deviation of public issue proceeds, outstanding loan defaults, related party transactions, and audit qualification impacts.

The company maintained its registered office at B-1014, 10th Floor, Damji Shamji Corporate Square, Laxmi Nagar, Ghatkopar (East) Mumbai, while operating from its corporate office in Indore, Madhya Pradesh. The submission demonstrates the company's commitment to maintaining transparent financial reporting and regulatory compliance standards.