Sanmit Infra Limited has announced receiving a Letter of Intent from Small Industries Development Bank of India (SIDBI) for a term loan facility worth ₹1.16 crores under the SPEED (Scheme for Purchase of Equipment for Enterprises Development) program. The company disclosed this development to BSE Limited on 23rd December 2025, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Loan Facility Details

The term loan facility presents favorable terms for the company's equipment acquisition plans. Key parameters of the loan agreement are structured as follows:

Interest and Repayment Structure

The loan carries an interest rate of 8.85% per annum with monthly rests on the outstanding principal amount, payable on the 10th day of each month. SIDBI retains the right to review and reset the interest rate at the end of three years from the first disbursement date. The facility includes specific penalty provisions for delayed payments, with penal charges of 2.00% per annum on overdue amounts plus applicable GST.

The borrower must draw the first disbursement within three months from the Letter of Intent date, failing which the sanction will lapse. The entire loan amount must be utilized within nine months from the letter date, with any extension subject to SIDBI's discretion under applicable guidelines.

Security and Guarantee Framework

The loan facility is secured through a comprehensive security structure encompassing primary and collateral securities along with personal guarantees:

Primary Security

• First charge by way of hypothecation in favor of SIDBI of all movable assets
• Coverage includes plant, machinery, machinery spares, tools, accessories, office equipment, computers, furniture and fixtures
• Extends to both present and future assets acquired under the project

Collateral Security

• Fixed Deposit Receipts (FDRs) worth ₹29.00 lakhs to be deposited with SIDBI
• FDRs must be in auto-renewal mode throughout the loan tenure
• No premature withdrawal permitted
• Interest accrued on FDRs payable only upon complete loan repayment

Personal Guarantees

Irrevocable, unconditional joint and several personal guarantees from four individuals:

• Shri Haresh Kanayalal Makhija
• Shri Kamal Kanayalal Makhija
• Shri Sanjay Kanayalal Makhija
• Shri Dinesh Kanayalal Makhija

Compliance and Additional Terms

The facility agreement includes standard compliance requirements and additional charges. The borrower will be responsible for legal fees and expenses related to documentation, filing, registration of charges, due diligence, and property valuation undertaken by SIDBI. Prepayment of the loan requires prior written approval from SIDBI and attracts a prepayment charge of 3.00% of the outstanding loan amount plus applicable GST.

Sanmit Infra has confirmed that SIDBI is not related to the promoter, promoter group, or group companies, and the transaction does not fall within related party transactions. This SPEED scheme loan will support the company's equipment modernization and capacity enhancement initiatives, providing access to institutional funding at competitive rates for productive asset creation.

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.