TCare Limited has filed a substantial acquisition disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The regulatory filing was submitted on December 16, 2025, detailing significant shareholding changes in the company.

Transaction Details

The disclosure was filed by Pawan Kumar Sethia, who is identified as acting in concert (PAC) with the acquirer as a Promoter/Promoter group. The transaction involves 1,82,00,000 equity shares of TCare Limited.

Share Capital Information

The filing reveals details about the company's equity structure and the shares involved in the transaction. The disclosure indicates that the total equity share capital consists of shares with a face value of ₹10.00 each.

Regulatory Compliance

The transaction was conducted through online mode, as specified in the disclosure document. The filing references the company's previous submissions to BSE under Regulation 31 of SEBI (LODR) 2015 for the quarter ended September 30, 2025, which are available on the BSE website.

Pawan Kumar Sethia, in his capacity as Managing Director, has signed the disclosure document, ensuring compliance with SEBI's substantial acquisition reporting requirements. The filing maintains transparency in shareholding patterns and keeps investors informed about significant ownership changes in the company.

Filing Significance

This disclosure under Regulation 29 is mandatory when there are substantial acquisitions or disposals of shares that could impact the control structure of a listed company. The filing ensures that all stakeholders are aware of changes in promoter holdings and maintains market transparency as required by Indian securities regulations.

Balurghat Technologies Limited (BTL) has released its unaudited financial results for the second quarter and half-year ended September 30, revealing a challenging period for the company. The results highlight a loss and significant legal claims that could impact the company's future performance.

Financial Performance

BTL reported a loss before tax of Rs 95.55 lakhs for the half-year ended September 30, compared to a profit of Rs 149.98 lakhs recorded in the same period last year. The company's financial results for Q2 show:

The company's operating expenses saw a significant increase of 68.03% year-over-year, rising from Rs 1,762.29 lakhs to Rs 2,961.20 lakhs. This surge in expenses outpaced the growth in revenue, contributing to the reported loss.

Legal Challenges

BTL faces three pending litigations with total claims amounting to approximately Rs 59 crore:

1. IDBI Bank Ltd.: A corporate guarantee claim of Rs 57.83 crore, currently pending before the Honourable High Court of Karnataka, Bengaluru. The company has deposited Rs 1 crore with the bank following a court order dated September 4.

2. Usha Martin Ltd.: A dispute over transportation of goods and services, amounting to Rs 1.05 crore, pending before the Honourable Calcutta High Court.

3. Rawal Investments: A rent control matter in Maharashtra, with a claim of Rs 40 lakhs. The company has already deposited Rs 29.76 lakhs with the Honourable Registrar Court of Small Causes, Mumbai.

Cash Flow and Liquidity

The cash flow statement indicates a decrease in cash generated before working capital changes, from Rs 153.33 lakhs in the previous year to a negative Rs 96.57 lakhs in the current period. However, the company's cash and cash equivalents increased from Rs 512.17 lakhs at the beginning of the period to Rs 564.35 lakhs at the end of the period, suggesting some improvement in short-term liquidity.

Outlook

While BTL has shown growth in revenue, the increase in operating expenses and ongoing legal challenges pose significant risks to the company's financial health. The management may need to focus on cost control measures and resolving legal issues to improve profitability and reduce potential financial liabilities.

Investors and stakeholders should closely monitor the company's performance in the coming quarters, particularly its ability to manage expenses and the outcomes of the pending litigations, which could have a material impact on BTL's financial position and future operations.