Sita enterprises Limited has responded to a surveillance inquiry from BSE Limited regarding recent price movement in its equity shares, clarifying that no undisclosed material information exists that could impact the stock's performance.

BSE Surveillance Inquiry Response

In a formal communication dated January 6, 2026, the company addressed BSE's inquiry reference number L/SURV/ONL/PV/AJ/2025-2026/3269, which was issued on January 5, 2026. The response was signed by Harsh Jitendra Gandhi, Executive Director and CFO of the company.

Company's Official Position

Sita Enterprises Limited has categorically stated that there is no information or announcement, including any impending announcement, that could have a bearing on the price or volume behavior of the company's equity shares which has not been disclosed to the stock exchange. The company emphasized that all disclosures have been made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The key points from the company's clarification include:

• No undisclosed price-sensitive information exists
• All material events have been properly disclosed under SEBI regulations
• Price movement is attributed to market-driven factors
• General market conditions and investor perception may be contributing factors

Regulatory Compliance Assurance

The company has reaffirmed its commitment to regulatory compliance, assuring BSE that it will promptly disclose any material event or information that may impact the performance or price behavior of its securities. This commitment aligns with the requirements under SEBI (LODR) Regulations, 2015.

Market Attribution

According to the company's assessment, the observed price movement in its equity shares is purely market-driven. The management attributes this movement to general market conditions and investor perception rather than any specific corporate developments or undisclosed information.

The company has requested BSE to take this clarification on record, maintaining transparency in its communication with the stock exchange and ensuring compliance with all applicable regulations governing listed entities.

Sita Enterprises Limited has released its quarterly results for the period ended September 30, revealing a shift from profit to loss amidst major corporate restructuring. The company reported a net loss of Rs 1.87 lakhs, a stark contrast to the profit of Rs 39.86 lakhs in the previous quarter. This financial downturn was accompanied by a substantial decline in total revenue.

Financial Performance

The company's financial results for the quarter show a significant change from the previous period:

Corporate Restructuring

During the quarter, Sita Enterprises underwent substantial corporate changes:

1. Ownership Transfer: On September 2, 21 lakh equity shares, representing 70% of the issued capital, were transferred to new promoter Jitendra Rasiklal Sanghavi.

2. Asset Sale: The company divested 7.2 lakh equity shares of its associate company, Bombay Mercantile and Leasing Company Limited, to directors Ashok Tulsyan and Sanju Tulsyan.

3. Board Restructuring:

   • Outgoing Directors: Ashok Tulsyan, Sanju Tulsyan, and Sneha Tulsyan
   • Newly Appointed Directors: Harsh Gandhi, Kirit Gordhadas Thakker, and Arushree Singh

Balance Sheet Highlights

Despite the quarterly loss, the company's balance sheet showed some positive movements:

The increase in total assets was primarily driven by higher investments, which stood at Rs 1,689.08 lakhs. Additionally, the company significantly improved its liquidity position, with cash and cash equivalents rising by Rs 108.90 lakhs.

Audit Opinion

It's worth noting that the auditors have issued an unmodified review opinion on the financial results, indicating that the financial statements are free from material misstatements and conform to the applicable accounting standards.

The quarter has been marked by significant changes for Sita Enterprises, both in terms of financial performance and corporate structure. While the company faced a challenging quarter financially, the substantial changes in ownership and board composition may signal a new direction for the enterprise. Investors and stakeholders will likely be watching closely to see how these changes impact the company's performance in the coming quarters.