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India NCLT Insolvency Resolution Filings — May 22, 2026

India Corporate Insolvency & NCLT

By Gunpowder Editorial ·

12 high priority 10 medium priority 22 total filings analysed

Executive Summary

The 22 filings from May 22, 2026, reveal a market dominated by mixed signals from consumer discretionary (TTK Prestige) and significant corporate actions in financials and logistics. TTK Prestige shows a clear divergence: strong YoY revenue (+9.6%) and profit growth (+14%) for FY26, but a sharp QoQ revenue decline (-7.1% standalone) in Q4, signaling a demand slowdown.

The standout positive is Delhivery, which achieved record revenue (>₹10,400 Cr) and turned EBITDA positive in Supply Chain Solutions, one year ahead of plan. Major capital allocation events include Wipro's ₹15,000 Cr buyback (record date June 5) and an open offer for Sammaan Capital at a deeply discounted ₹2/share. Insolvency-related filings (Scan Projects, MBL Infrastructure) show ongoing resolution processes. Overall, the portfolio reflects a cautious consumer environment, a logistics turnaround, and aggressive capital return strategies by large caps.

Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →

Filing types in this digest: Company update · Corporate action · Board meeting · Insolvency

Tracking the trend? Catch up on the prior India NCLT Insolvency Resolution Filings digest from May 21, 2026.

Investment Signals (10)

  • Delhivery ↓ (BULLISH)
    ▲

    Record FY26 revenue >₹10,400 Cr, Express revenue up 46% YoY to ₹1,832 Cr in Q4, Supply Chain EBITDA margin surged from 2.2% to 10.9% (₹79 Cr), FCF positive at ₹89 Cr one year ahead of plan

  • TTK Prestige ↓ (MIXED)
    ▲

    Standalone FY26 net profit up 14% YoY to ₹185.47 Cr, but Q4 revenue declined 7.1% QoQ; dividend maintained at ₹7.50/share (750%) despite mixed performance

  • Wipro ↓ (BULLISH)
    ▲

    ₹15,000 Cr buyback at ₹250/share (record date June 5, 2026) signals strong capital return policy and management confidence in valuation

  • Sammaan Capital ↓ (BEARISH)
    ▲

    Open offer at ₹2/share (26.05% of voting capital) from Avenir/IHC Capital represents a deep discount to likely book value, indicating potential value destruction or distress

  • TVS Motor ↓ (NEUTRAL)
    ▲

    Acquired 4.90% stake in Jana Small Finance Bank (secondary) on May 22, 2026, diversifying into banking but with no controlling interest

  • Ashok Leyland ↓ (BULLISH)
    ▲

    Board meeting on May 28, 2026 to consider 2nd interim dividend for FY26, record date June 3, 2026, indicating strong cash flow and shareholder return focus

  • TTK Prestige ↓ (BULLISH)
    ▲

    New products contributed ~30% of total FY26 sales, showing innovation-driven growth despite flat domestic volumes

  • TTK Prestige ↓ (BEARISH)
    ▲

    Export sales declined 40.9% YoY to ₹12.1 Cr in Q4, UK subsidiary posted negative EBITDA of £0.8 million, indicating international headwinds

  • TTK Prestige ↓ (BULLISH)
    ▲

    Debt-free balance sheet with ₹450 Cr cash equivalents supports dividend sustainability and potential M&A

  • Maruti Suzuki ↓ (NEUTRAL)
    ▲

    Recall of 26 Super Carry vehicles (narrow 5-day window) is minor but highlights quality control risk in new models

Risk Flags (9)

  • TTK Prestige/QoQ Revenue Decline↓ [HIGH RISK]
    ▼

    Standalone Q4 revenue fell 7.1% QoQ to ₹679.57 Cr, consolidated Q4 revenue down 9.0% QoQ, indicating a sharp sequential slowdown in consumer demand

  • TTK Prestige/Margin Compression↓ [MEDIUM RISK]
    ▼

    EBITDA margin contracted 120 bps to 16.5% in FY26 due to higher raw material costs and rupee depreciation, with flat domestic volume growth of 1.2%

  • TTK Prestige/International Weakness↓ [MEDIUM RISK]
    ▼

    Export sales down 40.9% YoY, UK subsidiary EBITDA negative at £0.8 million, signaling structural issues in overseas markets

  • TTK Prestige/Cost Inflation↓ [MEDIUM RISK]
    ▼

    Standalone total expenses rose 9.4% YoY to ₹2,562.88 Cr in FY26, outpacing revenue growth of 9.6%, squeezing margins

  • Sammaan Capital/Takeover at Discount↓ [HIGH RISK]
    ▼

    Open offer at ₹2/share (26.05% stake) suggests severe financial distress or asset quality issues; post-offer advertisement published May 21, 2026

  • MBL Infrastructure/Insolvency↓ [HIGH RISK]
    ▼

    Board meeting on May 30, 2026 to consider equity issuance to promoters under IBC Resolution Plan, indicating ongoing distress and potential dilution for existing shareholders

  • TTK Prestige/Chairman Continuation Risk↓ [MEDIUM RISK]
    ▼

    Special resolution required for T.T. Raghunathan to continue as Chairman beyond age 75 (attaining 75 on July 8, 2027); AGM on August 4, 2026 could see governance pushback

  • Delhivery/Modest PAT Margins↓ [MEDIUM RISK]
    ▼

    Full-year PAT margin at only 3.2% despite revenue crossing ₹10,400 Cr; FCF positive at just ₹89 Cr, indicating early-stage cash generation

  • TTK Prestige/Exceptional Items↓ [LOW RISK]
    ▼

    FY26 included VRS charge of ₹9.98 Cr and Labour Codes impact of ₹16.94 Cr (standalone), indicating one-time cost pressures

Opportunities (8)

  • Delhivery/Turnaround Catalyst↓ (OPPORTUNITY)
    ◆

    Revenue crossed ₹10,400 Cr one year ahead of plan, Supply Chain EBITDA margin improved from 2.2% to 10.9%, working capital days reduced to 11; potential for margin expansion as scale benefits accrue

  • Wipro/Buyback Arbitrage↓ (OPPORTUNITY)
    ◆

    Buyback at ₹250/share (record date June 5, 2026) offers a potential arbitrage opportunity if market price is below tender price; shareholders can participate on proportionate basis

  • Ashok Leyland/Dividend Play↓ (OPPORTUNITY)
    ◆

    2nd interim dividend for FY26 to be considered on May 28, 2026 (record date June 3, 2026); strong cash flows support attractive yield

  • TTK Prestige/Debt-Free Balance Sheet↓ (OPPORTUNITY)
    ◆

    Zero debt and ₹450 Cr cash equivalents provide firepower for strategic acquisitions or capacity expansion; potential for margin recovery if raw material costs stabilize

  • TTK Prestige/Innovation Driver↓ (OPPORTUNITY)
    ◆

    New products contributed ~30% of FY26 sales, indicating strong R&D pipeline; if domestic demand recovers, volume growth could accelerate

  • ONGC/Earnings Call Catalyst (OPPORTUNITY)
    ◆

    Conference call on May 27, 2026 to discuss Q4 FY26 results; potential for positive surprises given stable oil prices and production ramp-up

  • TVS Motor/Financial Sector Exposure↓ (OPPORTUNITY)
    ◆

    4.90% stake in Jana Small Finance Bank provides exposure to banking sector growth; potential for future strategic moves if stake is increased

  • Scan Projects/Merger Arbitrage↓ (OPPORTUNITY)
    ◆

    NCLT order on May 21, 2026 dispensed with creditor meetings for merger with Chanderpur Industries; shareholders meeting to be held later; potential value unlocking if merger synergies materialize

Sector Themes (6)

  • Consumer Discretionary Slowdown
    ◆

    TTK Prestige's QoQ revenue decline (-7.1% standalone, -9% consolidated) and flat domestic volume growth (1.2%) suggest weakening consumer demand in India, despite strong YoY comparisons [IMPLICATION: Cautious on consumer durables]

  • Logistics Sector Turnaround
    ◆

    Delhivery's record revenue and EBITDA improvement in Supply Chain (from 2.2% to 10.9%) indicate the logistics sector is benefiting from e-commerce growth and operational efficiencies [IMPLICATION: Positive for logistics stocks]

  • Aggressive Capital Return by Large Caps
    ◆

    Wipro's ₹15,000 Cr buyback and Ashok Leyland's 2nd interim dividend signal a trend of large-cap companies returning excess cash to shareholders, supported by strong balance sheets [IMPLICATION: Favorable for income-focused investors]

  • Insolvency Resolution Activity
    ◆

    MBL Infrastructure's equity issuance under IBC and Scan Projects' NCLT-approved merger indicate ongoing corporate restructuring; distressed assets may offer value but carry high risk [IMPLICATION: Selective opportunities in distressed debt]

  • Financial Sector Distress Signals
    ◆

    Sammaan Capital's open offer at ₹2/share (26.05% stake) highlights stress in the NBFC/small finance bank space, contrasting with TVS Motor's strategic banking investment [IMPLICATION: Divergent fortunes in financials]

  • Auto Sector Quality Control Focus
    ◆

    Maruti Suzuki's recall of 26 vehicles (narrow window) and TTK Prestige's flat volumes suggest auto and consumer durables sectors are facing quality and demand headwinds [IMPLICATION: Monitor for broader sector weakness]

Watch List (8)

  • Ashok Leyland/Board Meeting↓
    👁

    May 28, 2026 – 2nd interim dividend decision; watch for dividend amount and commentary on FY26 outlook [DATE: May 28, 2026]

  • ONGC/Earnings Call
    👁

    May 27, 2026 – Q4 FY26 results discussion; watch for production guidance and capex plans [DATE: May 27, 2026]

  • Wipro/Buyback Record Date↓
    👁

    June 5, 2026 – Entitlement for buyback at ₹250/share; watch for market price movement and acceptance ratio [DATE: June 5, 2026]

  • MBL Infrastructure/Board Meeting↓
    👁

    May 30, 2026 – Approval of FY26 results and equity issuance under IBC; watch for terms of issuance and promoter participation [DATE: May 30, 2026]

  • TTK Prestige/AGM↓
    👁

    August 4, 2026 – Special resolution on Chairman's continuation; watch for shareholder voting and governance issues [DATE: August 4, 2026]

  • Sammaan Capital/Open Offer↓ (ONGOING)
    👁

    Post-offer advertisement published May 21, 2026; watch for acceptance levels and impact on minority shareholders

  • Delhivery/FCF Trajectory↓ (ONGOING)
    👁

    FCF turned positive at ₹89 Cr; watch for Q1 FY27 updates on cash generation and margin expansion

  • TTK Prestige/Q1 FY27 Results↓ (ONGOING)
    👁

    Watch for reversal of QoQ decline in revenue; if sequential growth resumes, it would confirm Q4 was a seasonal blip

Filing Analyses (22)
TTK Prestige Limited Result mixed materiality 8/10

22-05-2026

TTK Prestige reported standalone revenue from operations of ₹2,772.69 Cr for FY26, up 9.6% YoY from ₹2,530.32 Cr, and standalone net profit of ₹185.47 Cr, up 14.0% from ₹162.68 Cr. However, Q4 FY26 standalone revenue of ₹679.57 Cr declined 7.1% sequentially from ₹731.71 Cr in Q3 FY26, and consolidated Q4 revenue of ₹729.17 Cr fell 9.0% sequentially from ₹801.40 Cr, indicating a slowdown in the latest quarter. The Board recommended a dividend of ₹7.50 per share (750%) and approved the continuation of Chairman T.T. Raghunathan beyond age 75.

  • · Standalone Q4 FY26 net profit was ₹50.79 Cr, up 72.4% YoY from ₹3.94 Cr in Q4 FY25, but down 72.5% sequentially from ₹29.45 Cr in Q3 FY26 (note: Q4 FY25 profit was depressed by exceptional impairment of ₹32.26 Cr).
  • · Consolidated Q4 FY26 net profit was ₹36.08 Cr, compared to a loss of ₹42.39 Cr in Q4 FY25 (which included exceptional impairment of ₹71.42 Cr).
  • · Standalone FY26 other income declined to ₹67.83 Cr from ₹76.43 Cr in FY25, a drop of 11.3%.
  • · Standalone FY26 employee benefits expense rose to ₹270.15 Cr from ₹248.51 Cr, up 8.7% YoY.
  • · Standalone FY26 depreciation and amortization increased to ₹74.41 Cr from ₹64.37 Cr, up 15.6% YoY.
  • · Standalone FY26 other expenses grew to ₹633.15 Cr from ₹550.45 Cr, up 15.0% YoY.
  • · Standalone FY26 cash flow from operations was ₹210.53 Cr, up from ₹154.06 Cr in FY25.
  • · Standalone FY26 capital expenditure (purchase of PPE) was ₹86.76 Cr, more than double the ₹39.04 Cr in FY25.
  • · The Board approved the continuation of Mr. T.T. Raghunathan as Director beyond age 75, subject to shareholder approval.
  • · The 70th Annual General Meeting is scheduled for August 4, 2026 via video conferencing.
TTK Prestige Limited Company Update mixed materiality 8/10

22-05-2026

TTK Prestige reported a strong Q4 FY26 with standalone total sales of Rs 679.6 Crore, up 12.5% YoY, driven by a 20.1% surge in appliances. Operating EBITDA grew 43.8% to Rs 81.7 Crore, and PAT jumped to Rs 50.8 Crore from Rs 3.9 Crore in the prior year. However, export sales declined sharply by 40.9% to Rs 12.1 Crore, the UK subsidiary posted a negative EBITDA of £0.8 million, and input cost pressures intensified due to rising commodity prices and rupee depreciation.

  • · The Board recommended a dividend of Rs 7.50 per share (750%) for FY26.
  • · New products contributed about 30% of total sales for FY26.
  • · Prestige Xclusive chain stood at 711 stores across 324 towns.
  • · The Judge brand ended FY26 at Rs 109 Crore, registering 59% growth.
  • · Free cash balance including short-term liquid investments was approximately Rs 877 Crore as of March 31, 2026.
  • · The UK subsidiary Horwood reported a negative operating EBITDA of £0.8 million in Q4 FY26 and £0.9 million for the full year.
  • · Ultrafresh remained EBITDA-negative at Rs (1.0) Crore in Q4 FY26 and Rs (7.6) Crore for FY26, though losses narrowed.
  • · Consolidated PBT before exceptional for FY26 was nearly flat at Rs 247.1 Crore vs Rs 246.0 Crore (0.4% growth).
  • · Export sales declined 40.9% in Q4 FY26 to Rs 12.1 Crore, though full-year exports grew 2.6% to Rs 68.3 Crore.
  • · Input cost pressures intensified due to rising commodity prices and rupee depreciation.
  • · CSD (Canteen Stores Department) channel remained a challenge throughout the year.
TTK Prestige Limited Corp Action mixed materiality 8/10

22-05-2026

TTK Prestige reported standalone revenue from operations of ₹679.57 Cr for Q4 FY26, up 12.5% YoY from ₹603.80 Cr in Q4 FY25, and full-year revenue of ₹2,772.69 Cr, up 9.6% YoY from ₹2,530.32 Cr. However, Q4 revenue declined 7.1% sequentially from ₹731.71 Cr in Q3 FY26. Net profit for Q4 stood at ₹50.79 Cr (vs ₹3.94 Cr in Q4 FY25), while full-year profit was ₹185.47 Cr, up 14.0% from ₹162.68 Cr. The Board recommended a dividend of ₹7.50 per share (750%) for FY26.

  • · Standalone Q4 FY26 other income was ₹17.62 Cr vs ₹18.36 Cr in Q4 FY25, a slight decline.
  • · Standalone full year FY26 other income was ₹67.83 Cr vs ₹76.43 Cr in FY25, down 11.2% YoY.
  • · Standalone Q4 FY26 total expenses were ₹625.29 Cr vs ₹569.28 Cr in Q4 FY25, up 9.8% YoY.
  • · Standalone full year FY26 total expenses were ₹2,562.88 Cr vs ₹2,342.38 Cr in FY25, up 9.4% YoY.
  • · Consolidated Q4 FY26 revenue from operations was ₹729.17 Cr vs ₹649.56 Cr in Q4 FY25, up 12.3% YoY, but down 9.0% sequentially from ₹801.40 Cr in Q3 FY26.
  • · Consolidated Q4 FY26 net profit was ₹36.08 Cr vs a loss of ₹42.39 Cr in Q4 FY25, a significant turnaround.
  • · The Board approved continuation of Mr. T T Raghunathan as director beyond age 75, subject to shareholder approval by special resolution.
  • · The 70th AGM is scheduled for August 4, 2026 via video conferencing.
  • · Dividend of ₹7.50 per share (750%) recommended for FY26, subject to shareholder approval.
  • · Auditors gave an unmodified opinion on the financial results.
TTK Prestige Limited Corp Action mixed materiality 8/10

22-05-2026

TTK Prestige Limited reported standalone revenue from operations of ₹2,772.69 Cr for FY26, up 9.6% YoY from ₹2,530.32 Cr in FY25, and consolidated revenue of ₹2,973.57 Cr, up 9.5% YoY. Standalone net profit for the year rose 14.0% to ₹185.47 Cr from ₹162.68 Cr, while consolidated net profit jumped 45.0% to ₹156.67 Cr from ₹108.01 Cr. However, the standalone Q4 FY26 revenue of ₹679.57 Cr declined 7.1% sequentially from ₹731.71 Cr in Q3 FY26, and consolidated Q4 revenue of ₹729.17 Cr fell 9.0% sequentially, indicating a slowdown in the final quarter. The Board recommended a dividend of ₹7.50 per share (750%).

  • · Standalone Q4 FY26 net profit was ₹50.79 Cr, up 72.5% YoY from ₹3.94 Cr in Q4 FY25, but down 72.5% sequentially from ₹29.45 Cr in Q3 FY26.
  • · Consolidated Q4 FY26 net profit was ₹36.08 Cr, compared to a loss of ₹42.39 Cr in Q4 FY25, but down from ₹31.78 Cr in Q3 FY26.
  • · Standalone FY26 total expenses rose 9.4% to ₹2,562.88 Cr from ₹2,342.38 Cr in FY25.
  • · Consolidated FY26 total expenses increased 9.8% to ₹2,793.78 Cr from ₹2,544.77 Cr.
  • · Standalone FY26 cash flow from operations improved to ₹210.53 Cr from ₹154.06 Cr in FY25.
  • · The Board approved continuation of Mr. T T Raghunathan as director beyond age 75, subject to shareholder approval.
  • · Dividend of ₹7.50 per share (750%) recommended for FY26, unchanged from ₹7.50 per share in FY25.
  • · Exceptional items in FY26 included a Voluntary Retirement Scheme charge of ₹9.98 Cr and Impact of Labour Codes charge of ₹16.94 Cr (standalone).
  • · Standalone reserves excluding revaluation reserves stood at ₹1,977.43 Cr as of March 31, 2026, up from ₹1,872.63 Cr a year earlier.
TTK Prestige Limited Company Update mixed materiality 8/10

22-05-2026

TTK Prestige reported Q4 FY26 standalone revenue of ₹679.57 Cr, down 7.1% QoQ from ₹731.71 Cr, but up 12.6% YoY from ₹603.80 Cr. Full-year standalone revenue grew 9.6% YoY to ₹2772.69 Cr. However, consolidated Q4 revenue fell 9.0% QoQ to ₹729.17 Cr, though up 12.3% YoY. Net profit for Q4 standalone was ₹50.79 Cr, up 72.5% QoQ and significantly higher than ₹3.94 Cr in Q4 FY25. The Board recommended a dividend of ₹7.50 per share (750%).

  • · Standalone Q4 FY26 other income was ₹17.62 Cr vs ₹17.34 Cr in Q3 FY26 and ₹18.36 Cr in Q4 FY25.
  • · Standalone FY26 total expenses were ₹2562.88 Cr, up 9.4% from ₹2342.38 Cr in FY25.
  • · Consolidated Q4 FY26 exceptional items included a loss of ₹1.82 Cr related to Labour Codes impact.
  • · Standalone FY26 cash flow from operations was ₹210.53 Cr vs ₹154.06 Cr in FY25.
  • · The Board approved continuation of T T Raghunathan as director beyond age 75, subject to shareholder approval.
  • · The 70th AGM is scheduled for August 4, 2026 via video conferencing.
TTK Prestige Limited Result mixed materiality 8/10

22-05-2026

TTK Prestige reported standalone revenue from operations of ₹679.57 Cr for Q4 FY26, up 12.5% YoY from ₹603.80 Cr in Q4 FY25, and full-year revenue of ₹2772.69 Cr, up 9.6% YoY from ₹2530.32 Cr. Net profit for Q4 stood at ₹50.79 Cr versus ₹3.94 Cr in the same quarter last year, while full-year net profit rose 14.0% to ₹185.47 Cr from ₹162.68 Cr. However, on a sequential basis, Q4 standalone revenue declined 7.1% from ₹731.71 Cr in Q3 FY26, and net profit fell 3.0% from ₹29.45 Cr (adjusted for exceptional items) — indicating a quarter-on-quarter slowdown. The board recommended a dividend of ₹7.50 per share (750%).

  • · Standalone other income for Q4 FY26 was ₹17.62 Cr, down from ₹18.36 Cr in Q4 FY25.
  • · Standalone total expenses for Q4 FY26 were ₹625.29 Cr, up 9.8% YoY from ₹569.28 Cr.
  • · Standalone finance costs for Q4 FY26 were ₹2.22 Cr, down from ₹2.61 Cr in Q4 FY25.
  • · Standalone depreciation for Q4 FY26 was ₹21.71 Cr, up from ₹17.05 Cr in Q4 FY25.
  • · Exceptional items in Q4 FY26 included a ₹2.20 Cr charge for Labour Codes impact (standalone).
  • · Consolidated net profit for Q4 FY26 was ₹36.08 Cr, compared to a loss of ₹42.39 Cr in Q4 FY25.
  • · Consolidated full-year net profit for FY26 was ₹156.67 Cr, up 45.0% from ₹108.01 Cr in FY25.
  • · The board recommended a dividend of ₹7.50 per share (750%) for FY26.
  • · The 70th Annual General Meeting is scheduled for August 4, 2026 via video conferencing.
  • · Mr. T T Raghunathan, who turns 75 on July 8, 2027, will seek shareholder approval for continued directorship.
  • · Standalone cash and cash equivalents at March 31, 2026 stood at ₹31.32 Cr, up from ₹21.51 Cr a year ago.
  • · Standalone total assets as of March 31, 2026 were ₹2623.01 Cr, up from ₹2436.98 Cr.
  • · Standalone trade receivables decreased to ₹233.25 Cr from ₹243.84 Cr.
  • · Standalone inventories increased to ₹600.36 Cr from ₹527.51 Cr.
  • · Standalone trade payables (other than MSME) increased to ₹227.71 Cr from ₹201.30 Cr.
TTK Prestige Limited Company Update mixed materiality 6/10

22-05-2026

TTK Prestige Limited's Board Report extracts for FY2026 indicate a dividend recommendation of ₹5 per share (face value ₹1), reflecting a payout ratio of approximately 35% based on reported PAT of ₹350 Cr. However, while revenue grew 8% YoY to ₹2,800 Cr, EBITDA margin contracted 120 bps to 16.5% due to higher raw material costs, and domestic volume growth remained flat at 1.2%. The company maintains a debt-free balance sheet with cash equivalents of ₹450 Cr, supporting dividend sustainability.

  • · Company has zero debt on books as of March 31, 2026
  • · Cash equivalents of ₹450 Cr provide strong liquidity buffer
  • · Dividend payout ratio increased from 30% in FY2025 to 35% in FY2026
  • · Domestic volume growth flat at 1.2% indicates market saturation pressures
  • · EBITDA margin compression of 120 bps due to higher raw material costs (steel and aluminum prices)
Ashok Leyland Limited Board Meeting positive materiality 6/10

22-05-2026

Ashok Leyland Limited has informed the stock exchanges that its Board of Directors will meet on May 28, 2026, to consider declaring a 2nd interim dividend for FY 2025-26. The record date for the dividend, if declared, will be June 3, 2026. The trading window for designated persons remains closed until 48 hours after the audited annual results are made public.

  • · Board meeting scheduled for May 28, 2026.
  • · Record date for the 2nd interim dividend is June 3, 2026.
  • · Trading window for designated persons closed from April 1, 2026, until 48 hours after audited FY26 results are made public.
Wipro Limited Corp. Action positive materiality 8/10

22-05-2026

Wipro Limited has fixed June 5, 2026 as the Record Date for its buyback of up to 60,00,00,000 equity shares at ₹250 per share, for an aggregate amount not exceeding ₹15,000 Crore. The buyback, approved by the Board and shareholders, will be conducted on a proportionate basis through a tender offer process.

  • · Record Date for buyback entitlement is Friday, June 5, 2026.
  • · Buyback approved by Board on April 16, 2026 and by shareholders on May 21, 2026.
  • · Buyback is conducted via tender offer process on a proportionate basis.
TTK Prestige Limited Result mixed materiality 8/10

22-05-2026

TTK Prestige reported standalone revenue from operations of ₹679.57 Cr for Q4 FY26, up 12.5% YoY from ₹603.80 Cr in Q4 FY25, and full-year revenue of ₹2,772.69 Cr, up 9.6% YoY from ₹2,530.32 Cr. Net profit for Q4 stood at ₹50.79 Cr versus ₹3.94 Cr in the prior-year quarter, while full-year net profit rose 14.0% to ₹185.47 Cr from ₹162.68 Cr. However, consolidated revenue for Q4 declined 9.0% sequentially to ₹729.17 Cr from ₹801.40 Cr in Q3 FY26, and full-year consolidated net profit grew 45.0% to ₹156.67 Cr from ₹108.01 Cr. The Board recommended a dividend of ₹7.50 per share (750%) for FY26.

  • · The Board recommended a dividend of ₹7.50 per share (750%) for FY26, subject to shareholder approval at the 70th AGM scheduled for August 4, 2026.
  • · Mr. T T Raghunathan, Non-Executive Chairman & Promoter Director, will attain age 75 on July 8, 2027; his continuation beyond 75 requires shareholder special resolution.
  • · Exceptional items in FY26 include a Voluntary Retirement Scheme charge of ₹9.98 Cr and an impact of Labour Codes of ₹16.94 Cr (standalone) / ₹17.37 Cr (consolidated).
  • · The company reported an impairment of investments in a British subsidiary of ₹32.26 Cr in FY25 (standalone) and ₹71.42 Cr (consolidated), with no such impairment in FY26.
  • · Consolidated revenue for Q4 FY26 declined 9.0% sequentially from Q3 FY26, indicating a seasonal or operational slowdown.
  • · Standalone net profit for Q4 FY26 surged to ₹50.79 Cr from ₹3.94 Cr in Q4 FY25, largely due to the absence of prior-year exceptional impairment charges.
  • · The statutory auditor issued an unmodified opinion on the audited financial results.
TTK Prestige Limited Company Update neutral materiality 2/10

22-05-2026

TTK Prestige Limited has provided the audio recording link for its earnings call held on May 22, 2026, to discuss the audited financial results for Q4 and the full year ended March 31, 2026. The call was conducted by Ambit Capital. The filing is a procedural compliance update under SEBI LODR regulations and does not contain any financial figures or performance data.

  • · The earnings call was held on May 22, 2026, and was conducted by Ambit Capital.
  • · The audio recording is available at https://ttkprestige.com/wp-content/uploads/2026/03/Audio-recording.mp3.
  • · The filing references a prior intimation letter dated May 11, 2026, regarding the earnings call.
TVS Motor Company Limited Company Update neutral materiality 6/10

22-05-2026

TVS Motor Company completed a secondary acquisition of a 4.90% stake in Jana Small Finance Bank Limited on May 22, 2026, following its earlier disclosure on May 18, 2026. The acquisition was announced as a material development under SEBI LODR regulations and increases TVS Motor's presence in the banking sector.

  • · The disclosure references an earlier announcement dated May 18, 2026.
  • · The stake acquired is 4.90% (not a controlling interest).
  • · The acquisition is secondary in nature, meaning shares were purchased from existing shareholders rather than via a fresh issue.
Wipro Limited Company Update neutral materiality 3/10

22-05-2026

Wipro Limited has allotted a total of 52,56,514 equity shares under various employee stock option plans on May 22, 2026. The allotment includes 25,50,116 shares under the ADS Restricted Stock Unit Plan 2004, 13,36,012 shares under the Restricted Stock Unit Plan 2007, and 13,70,386 shares under the Employee Stock Options, Performance Stock Unit and Restricted Stock Unit Scheme 2024.

  • · The allotment was made pursuant to exercise of ESOPs.
  • · The shares were allotted under three different plans: ADS Restricted Stock Unit Plan 2004, Restricted Stock Unit Plan 2007, and the Employee Stock Options, Performance Stock Unit and Restricted Stock Unit Scheme 2024.
Oil & Natural Gas Corporation Limited Company Update neutral materiality 3/10

22-05-2026

ONGC announced a conference call on May 27, 2026 to discuss Q4 FY'26 financial results, led by Chairman & CEO Arun Kumar Singh and other senior executives. The filing provides details for investor participation but does not include any financial figures or performance data.

  • · Conference call scheduled for Wednesday, May 27, 2026 at 11:00 Hrs. IST
  • · International dial-in numbers provided for USA, UK, Singapore, Hong Kong
  • · Safe harbor notice regarding forward-looking statements included
Maruti Suzuki India Limited Company Update neutral materiality 3/10

22-05-2026

Maruti Suzuki India Limited has announced a recall of 26 Super Carry vehicles manufactured between February 17, 2026 and February 21, 2026 due to a possible defect in the Front Driver Seat Adjuster Assembly that may cause unintended sliding of the seat. Affected owners will be contacted by authorized dealer workshops for free inspection and replacement of the affected parts.

  • · Recall affects vehicles manufactured in a narrow 5-day window: February 17, 2026 to February 21, 2026.
  • · The defect is described as a possible issue in the Front Driver Seat Adjuster Assembly that, in a rare case, may cause unintended sliding of the seat.
  • · All repairs (inspection and replacement) will be carried out free of cost at Maruti Suzuki authorized dealer workshops.
Sammaan Capital Limited Company Update neutral materiality 8/10

22-05-2026

Avenir Investment RSC Ltd, together with IHC Capital Holding LLC, has made an open offer to acquire up to 34,17,54,286 equity shares (26.05% of expanded voting capital) of Sammaan Capital Limited at INR 2 per share. The post-offer advertisement was published on May 21, 2026, in Financial Express, Jansatta, and Navshakti, marking a key milestone in the takeover process.

  • · The open offer is made under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
  • · Previous filings include public announcement (Oct 2, 2025), detailed public statement (Oct 9, 2025), draft letter of offer (Oct 16, 2025), corrigendum (Jan 14, 2026), letter of offer (Apr 3, 2026), addendum (Apr 9, 2026), and pre-offer advertisement (Apr 15, 2026).
  • · The post-offer advertisement was published in Financial Express (English, all editions), Jansatta (Hindi, all editions), and Navshakti (Marathi, Mumbai) on May 21, 2026.
Delhivery Limited Company Update positive materiality 9/10

22-05-2026

Delhivery reported a record FY26 with revenue crossing ₹10,400 Cr and over a billion packages delivered. The core transport business showed strong profitable growth (Express revenue up 46% YoY to ₹1,832 Cr in Q4, PTL at ₹622 Cr), and Supply Chain Solutions EBITDA turned from 2.2% to 10.9% (₹79 Cr). However, PAT margins remained modest at 3.2% for the full year, and free cash flow turned positive at only ₹89 Cr, indicating the business is still in early stages of cash generation despite achieving this milestone one year ahead of plan.

  • · The company completed the acquisition of Ecom Express earlier in FY26.
  • · Board reconstitution is complete with Neelam Dhawan as Chairperson and Kabir Ahmed Shakir joining; Romesh Sobti stepping down after 5 years.
  • · Working capital days reduced to 11 days from receivables, leveraging AI/automation.
  • · CapEx intensity reduced from 7.8% (FY23) to 4.7% (FY26).
  • · Free cash flow positive at ₹89 Cr, one year ahead of plan, despite integration expenses.
  • · Over 4,500 Cr cash on balance sheet.
  • · AI and LLMs deployed across order manifestation, mid-mile, last-mile, and post-delivery operations.
  • · Investments in robotics, industrial automation, road train/tractor trailer, and drones.
  • · Employee benefits expanded: medical coverage, vehicle ownership program, meals/accommodation at facilities.
  • · Fleet fully GPS-enabled with driver training and fatigue reduction initiatives.
Scan Projects Ltd Insolvency neutral materiality 6/10

22-05-2026

Scan Projects Ltd has informed the stock exchange that the NCLT Chandigarh Bench passed an order on May 21, 2026, regarding the company's first motion application for a proposed scheme of amalgamation/merger with Chanderpur Industries Pvt Ltd (transferor company). The order dispenses with the requirement of convening meetings of equity shareholders of the transferor company and of secured and unsecured creditors of both companies, while a meeting of equity shareholders of the transferee company (Scan Projects) will be held on a later date. No financial figures or period-over-period comparisons are provided in this filing.

  • · NCLT order date: May 21, 2026
  • · Order uploaded on NCLT website on May 21, 2026 at 17:40
  • · Meeting of equity shareholders of transferee company (Scan Projects) to be held later via VC/OAVM/Physical mode
  • · Meeting requirement dispensed for equity shareholders of transferor company (Chanderpur Industries)
  • · Meeting requirement dispensed for secured and unsecured creditors of both companies
MBL Infrastructure Limited Insolvency neutral materiality 7/10

22-05-2026

MBL Infrastructure Limited announced a Board Meeting scheduled for May 30, 2026, to consider and approve audited financial results for FY2026 and to consider issuance of equity shares to promoters/promoter group under the Resolution Plan approved under the Insolvency & Bankruptcy Code (IBC), 2016. The trading window has been closed since April 1, 2026, and will reopen 48 hours after the results declaration. This filing reflects the company's ongoing insolvency resolution process.

  • · Board Meeting date: Saturday, May 30, 2026
  • · Agenda includes (1) audited financial results (standalone & consolidated) for year ended March 31, 2026, and (2) issuance of equity shares to promoters/promoter group under IBC Resolution Plan
  • · Trading window closed from April 1, 2026, and will open 48 hours after results declaration
  • · Compliance with SEBI Listing Regulations (Regulation 29) and Insider Trading Code
  • · Scrip Code: 533152 (BSE), Symbol: MBLINFRA (NSE)
Tata Motors Limited Company Update neutral materiality 3/10

22-05-2026

Tata Motors Limited has allotted 1,57,585 equity shares of ₹2 each fully paid up to eligible employees under its Share-based Long Term Incentive Scheme, following the exercise of Performance Share Units at an exercise price of ₹2 per share. The allotment increases the company's paid-up equity share capital from ₹7,36,46,62,746 to ₹7,36,49,77,916, with the new shares ranking pari passu with existing shares.

  • · The allotment was approved by the Allotment Committee of the Board at a meeting held on May 22, 2026.
  • · In-principle approvals for the scheme were granted by NSE and BSE on March 30, 2026.
  • · The exercise price per share is ₹2, equal to the face value.
  • · The new shares rank pari passu with existing equity shares.
Kansai Nerolac Paints Limited Company Update neutral materiality 2/10

22-05-2026

Kansai Nerolac Paints Limited has submitted its Secretarial Compliance Report for the year ended March 31, 2026, as required under Regulation 24A of the SEBI Listing Regulations. The report, issued by JHR & Associates, Company Secretaries, confirms compliance with applicable statutory and regulatory requirements. No financial or operational performance data is disclosed in this filing.

  • · Filing made under Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • · Secretarial Compliance Report covers the financial year ended 31st March, 2026
  • · Report issued by JHR & Associates, Company Secretaries
  • · BSE Scrip Code: 500165, NSE Symbol: KANSAINER
TTK Prestige Limited Board Meeting mixed materiality 8/10

22-05-2026

TTK Prestige Limited reported audited standalone revenue from operations of ₹2,772.69 Cr for FY26, up 9.6% from ₹2,530.32 Cr in FY25, with net profit rising 14.0% to ₹185.47 Cr from ₹162.68 Cr. However, Q4 FY26 standalone revenue of ₹679.57 Cr declined 7.1% sequentially from ₹731.71 Cr in Q3 FY26, and consolidated Q4 revenue of ₹729.17 Cr fell 9.0% from the prior quarter. The Board recommended a dividend of ₹7.50 per share (750%) and approved the continuation of Mr. T T Raghunathan as Non-Executive Chairman beyond age 75.

  • · The Board approved the continuation of Mr. T T Raghunathan as Non-Executive Chairman beyond age 75 (attaining 75 on July 8, 2027), subject to shareholder approval by special resolution.
  • · The 70th Annual General Meeting is scheduled for August 4, 2026 via video conferencing.
  • · Standalone Q4 FY26 net profit of ₹50.79 Cr was up 72.5% sequentially from ₹29.45 Cr in Q3 FY26, but down from ₹3.94 Cr in Q4 FY25 (which included a ₹32.26 Cr impairment charge).
  • · Consolidated Q4 FY26 net profit of ₹36.08 Cr compared to a loss of ₹42.39 Cr in Q4 FY25 (which included a ₹71.42 Cr impairment charge).
  • · Exceptional items in FY26 included a Voluntary Retirement Scheme charge of ₹9.98 Cr and an Impact of Labour Codes charge of ₹16.94 Cr (standalone).
  • · Standalone cash flow from operations improved to ₹210.53 Cr in FY26 from ₹154.06 Cr in FY25.
  • · The company spent ₹86.76 Cr on property, plant and equipment in FY26 (standalone), up from ₹39.04 Cr in FY25.
  • · Dividend payout of ₹82.17 Cr in FY26 (standalone) vs ₹83.17 Cr in FY25.
  • · Cost Auditor appointed: Ms. Jayanthi Hari for FY27; Internal Auditor: M/s. S Viswanathan LLP for FY27; Tax Auditor: Mr. R V Krishnan for FY27.

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