Sanmit Infra Limited has announced that its Board of Directors approved the terms and conditions of the ₹1.16 crore term loan from Small Industries Development Bank of India (SIDBI) under the SPEED scheme during a board meeting held on December 30, 2025. The meeting, conducted at the company's registered office from 3:00 PM to 5:30 PM, formalized the loan agreement previously disclosed through a Letter of Intent received on December 22, 2025.

Board Meeting Outcome

The board meeting was convened in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The directors considered and approved all terms and conditions related to the SIDBI term loan facility along with associated documentation required for the loan agreement.

Loan Facility Structure

The SPEED (Scheme for Purchase of Equipment for Enterprises Development) loan facility carries favorable terms for equipment acquisition from Original Equipment Manufacturers (OEMs). The loan structure includes specific disbursement and utilization timelines to ensure efficient project implementation.

Interest and Penalty Framework

The loan carries an interest rate of 8.85% per annum with monthly rests on outstanding principal, payable on the 10th of each month. SIDBI retains the right to review and reset the interest rate after three years from first disbursement. The facility includes penalty charges of 2.00% per annum on overdue amounts plus applicable GST for payment delays.

Prepayment of the loan requires prior written approval from SIDBI and attracts a prepayment charge of 3.00% of the outstanding amount plus applicable GST. Additional penal charges of 1.00% with GST apply for delays in compliance or security creation.

Comprehensive Security Structure

The loan facility is secured through a multi-layered security framework encompassing primary security, collateral security, and personal guarantees to ensure complete protection for the lender.

Primary and Collateral Security

Personal Guarantees

The facility requires irrevocable, unconditional joint and several personal guarantees from four key individuals: Shri Haresh Kanayalal Makhija, Shri Kamal Kanayalal Makhija, Shri Sanjay Kanayalal Makhija, and Shri Dinesh Kanayalal Makhija. These guarantors will be liable as principal debtors to SIDBI without any guarantee commission payments.

Compliance and Related Party Disclosure

Sanmit Infra has confirmed that SIDBI is not related to the promoter, promoter group, or group companies, ensuring the transaction does not constitute a related party transaction. The company will bear all legal fees and expenses related to documentation, charge registration, due diligence, and property valuation undertaken by SIDBI. This SPEED scheme loan will support the company's equipment modernization initiatives, providing institutional funding at competitive rates for productive asset creation and business expansion.

Sanmit Infra Limited , a diversified infrastructure company, has announced significant changes in its top management along with its financial results for the quarter ended September 30, 2025. The company reported a net loss and made key appointments in its leadership team.

Leadership Changes

The Board of Directors of Sanmit Infra Limited has approved several high-level appointments:

1. Mr. Kamal Kanayalal Makhija has been appointed as the new Chief Financial Officer (CFO), effective November 13, 2025. Mr. Makhija brings over 25 years of experience in Banking, Finance, and Petroleum Products to his new role.

2. Mr. Shlok Sanjay Makhija has been named the new Chief Executive Officer (CEO), also effective from November 13, 2025. Mr. Shlok Makhija, who has been serving as the Head of the Bitumen Division since 2018, is credited with establishing the company's Bitumen Emulsion Manufacturing Facility at Rasayani and spearheading the company's entry into Microsurfacing work projects.

These appointments follow the resignation of Mr. Dinesh Kanayalal Makhija from the position of CFO, citing other professional engagements.

Financial Performance

For the quarter ended September 30, 2025, Sanmit Infra Limited reported the following financial results:

The company experienced a significant decrease in revenue from operations, dropping from Rs. 4,113.65 lakhs in Q2 FY2025 to Rs. 717.19 lakhs in Q2 FY2026. This decline in revenue contributed to an increased net loss of Rs. 116.66 lakhs for the quarter, compared to a loss of Rs. 41.73 lakhs in the same period last year.

Segment Performance

Sanmit Infra Limited operates in multiple segments:

1. Petroleum and related products
2. Biomedical Waste recycling machinery and other equipment
3. Bitumen emulsion and other road construction related materials
4. Microsurfacing and repair of roads and related services

The petroleum and related products segment, which has been a significant revenue generator, saw a substantial decrease in revenue from Rs. 3,912.71 lakhs in Q2 FY2025 to Rs. 319.68 lakhs in Q2 FY2026.

Looking Ahead

The appointment of new leadership comes at a challenging time for Sanmit Infra Limited, as it faces declining revenues and increased losses. The company will likely look to its new CEO and CFO to navigate these challenges and implement strategies for recovery and growth.

Investors and stakeholders will be watching closely to see how the new management team addresses the current financial situation and positions the company for future success across its diverse business segments.