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India Pre-Market Regulatory Roundup — May 26, 2026

India Before-Market Intelligence

By Gunpowder Editorial ·

50 medium priority 50 total filings analysed

Executive Summary

The overnight filing cycle (May 25-26, 2026) reveals a market characterized by sharp divergence: a handful of heavyweights like Hitachi Energy and Sundaram Finance delivered stellar annual growth, while a larger cohort of mid-caps (Aarti Pharmalabs, CIAN Agro, Entero Healthcare) reported severe profit erosion despite revenue expansion, signaling acute margin compression and rising input/finance costs.

The most critical development is the adverse audit opinion for Asian Hotels (West), raising existential going-concern doubts, while Kalyani Forge received a third consecutive disclaimer of opinion, flagging systemic governance failures. On the positive side, capital allocation remains shareholder-friendly, with multiple dividend increases (Nesco, Sundaram Finance, Travel Food Services) and a major ₹2,000 Cr greenfield capex by Hitachi Energy. A notable sector theme is the pivot toward renewable energy, with IMFA signing a 29-year PPA and Ddev Plastiks amending its charter to include battery storage, signaling industrial decarbonization. Insider activity was absent from filings, but forward-looking data points to a heavy catalyst calendar from May 28-30, with 10+ companies reporting results, including Updater Services and Jindal Poly Films.

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

Filing types in this digest: Corporate action · Corporate governance · M&A

Tracking the trend? Catch up on the prior India Pre-Market Regulatory Roundup digest from May 24, 2026.

Investment Signals (12)

  • Hitachi Energy India ↓ (BULLISH)
    ▲

    Revenue surged 46.2% YoY (Q4) and 27.6% YoY (FY), net profit jumped 79.7% YoY (Q4) and 157.2% YoY (FY). Board approved ₹2,000 Cr greenfield capex for transformers, signaling demand visibility. Final dividend ₹8/share (400% face value).

  • Sundaram Finance ↓ (BULLISH)
    ▲

    Standalone PAT grew 18.9% YoY to ₹1,834 Cr, total dividend raised to ₹40/share (400% of face value). However, Q4 consolidated PAT was nearly flat (+0.2% YoY), indicating a sequential slowdown.

  • Travel Food Services ↓ (MIXED)
    ▲

    FY26 net profit rose 22.6% YoY to ₹3,676 Mn, but Q4 revenue declined 4.9% QoQ and profit fell 11.3% QoQ, suggesting post-festival demand normalization. Dividend of ₹10.25/share declared.

  • Nesco Limited ↓ (MIXED)
    ▲

    Revenue grew 31% YoY (Q4) and 27% YoY (FY), but net profit growth lagged at +5% YoY (Q4) and +10% YoY (FY), implying margin compression. Indabrator segment revenue declined 24% YoY in Q4. Dividend raised to ₹7/share from ₹6.50.

  • CIAN Agro Industries ↓ (BEARISH)
    ▲

    Revenue surged 90.6% YoY in Q4, but profit before tax collapsed 93.1% YoY to just ₹41 Lakhs, driven by a massive swing in the Agro division (from ₹2,638 Cr profit to ₹2,173 Cr loss). Trade receivables nearly quadrupled to ₹7,872 Lakhs.

  • Aarti Pharmalabs ↓ (BEARISH)
    ▲

    Revenue grew 9.5% YoY in Q4, but net profit fell 30.2% YoY. Full-year profit declined 31.5% YoY as finance costs doubled (+83% YoY) and forex losses swung to ₹3,321 Lakhs from a gain of ₹169 Lakhs.

  • Entero Healthcare Solutions ↓ (MIXED)
    ▲

    Full-year profit increased 40% YoY to ₹269 Mn, but revenue declined 14.8% YoY. Q4 profit of ₹134 Mn was a sharp recovery from Q3's depressed ₹8 Mn (impacted by exceptional items). Board approved acquisition of Vishal Surgicals via slump sale.

  • Cosmic CRF ↓ (MIXED)
    ▲

    Full-year revenue grew 10.7% YoY and PAT surged 43.4% YoY, but H2 profit dropped 28.4% sequentially, indicating a second-half slowdown. Clean audit opinion and no deviation in fund utilization from preferential issue.

  • Kalyani Forge ↓ (BEARISH)
    ▲

    Full-year PAT surged to ₹932 Lakhs from ₹131 Lakhs (up 608% YoY), but revenue declined 0.8% YoY. The auditor issued a disclaimer of opinion for the third consecutive year, citing unascertainable inventory and unreconciled receivables.

  • Indian Metals & Ferro Alloys (IMFA) (BULLISH)
    ▲

    Entered a 29-year PPA for 65 MW hybrid renewable power, acquiring 26% equity for ₹110 Cr. The target entity has nil turnover, making this a high-risk/high-reward greenfield bet. Completion expected by June 2027.

  • Ddev Plastiks Industries ↓ (BULLISH)
    ▲

    Proposed amendments to include Battery Energy Storage System (BESS) projects, signaling a strategic pivot into renewable energy infrastructure. Subject to shareholder approval.

  • Royal Orchid Hotels ↓ (BEARISH)
    ▲

    Full-year revenue grew only 2.7% YoY, and Q4 revenue declined 8.2% YoY. Auditor issued a qualified opinion due to ongoing NCLT litigation regarding an associate company.

Risk Flags (10)

  • Asian Hotels (West) / Going Concern↓ [HIGH RISK]
    ▼

    Auditor issued an adverse opinion citing potential undisclosed sale of Hyatt Regency Mumbai, current liabilities exceeding current assets by ₹4,243 Cr, and non-recognition of ₹944 Cr in interest expenses. Entire fixed asset balance of ₹14.92 Cr could not be verified.

  • Kalyani Forge / Audit Quality↓ [HIGH RISK]
    ▼

    Third consecutive disclaimer of opinion from auditors on inventory valuation, trade receivables/payables reconciliation, and internal financial controls. Revenue declined 0.8% YoY despite a 608% profit surge, raising questions about earnings quality.

  • Aarti Pharmalabs / Cost Pressures↓ [MEDIUM RISK]
    ▼

    Finance costs doubled (+83% YoY), depreciation rose 32% YoY, and forex losses swung to ₹3,321 Lakhs from a gain. Net profit margin compressed from ~14.5% in FY25 to ~9.8% in FY26.

  • CIAN Agro / Receivables & Segment Loss↓ [HIGH RISK]
    ▼

    Trade receivables ballooned 284% to ₹7,872 Lakhs, while the Agro division swung to a loss of ₹2,173 Lakhs from a profit of ₹2,639 Lakhs. PBT margin collapsed from 7.4% to 0.3% in Q4.

  • Entero Healthcare / Revenue Decline↓ [MEDIUM RISK]
    ▼

    Full-year revenue fell 14.8% YoY, and Q4 revenue was down 26% YoY. While profit improved, the top-line erosion suggests market share loss or pricing pressure.

  • Royal Orchid Hotels / Qualified Audit & Litigation↓ [MEDIUM RISK]
    ▼

    Ongoing NCLT litigation regarding associate Ksheer Sagar Developers, with a SEBI interim order and SAT stay. Q4 revenue declined 8.2% YoY, indicating operational weakness.

  • Sundaram Finance / Slowing Momentum↓ [MEDIUM RISK]
    ▼

    Q4 consolidated PAT was nearly flat (+0.2% YoY) after a strong year, and impairment/provisions on financial instruments nearly doubled to ₹450 Cr (from ₹242 Cr), signaling potential asset quality stress.

  • Travel Food Services / QoQ Decline↓ [LOW RISK]
    ▼

    Q4 revenue fell 4.9% QoQ and net profit dropped 11.3% QoQ, suggesting a post-IPO slowdown. The company was listed during FY26, so historical comparisons may be distorted.

  • Nesco / Margin Compression↓ [MEDIUM RISK]
    ▼

    Net profit growth (+5% Q4 YoY) lagged revenue growth (+31% Q4 YoY) significantly, implying margin compression. Indabrator segment revenue declined 24% YoY.

  • IMFA / Greenfield Risk [MEDIUM RISK]
    ▼

    The 29-year PPA target entity (EG URJA STROT) was incorporated in March 2025 with nil turnover and no financial history. The ₹110 Cr equity investment carries execution and regulatory risk until completion by June 2027.

Opportunities (10)

  • Hitachi Energy / Capex Catalyst↓ (OPPORTUNITY)
    ◆

    The ₹2,000 Cr greenfield transformer facility (cumulative ₹4,000 Cr) signals a multi-year growth cycle. With Q4 revenue up 46% YoY and PAT up 80% YoY, the company is riding the power transmission super-cycle. Record date for dividend: Aug 21, 2026.

  • Sundaram Finance / Capital Raise & Dividend↓ (OPPORTUNITY)
    ◆

    Board approved raising ₹500 Cr in Tier 2 capital via NCDs, supporting growth. Total dividend of ₹40/share (400%) with record date July 6, 2026. The flat Q4 PAT may be a temporary blip; watch for commentary on asset quality.

  • Cosmic CRF / Clean Balance Sheet↓ (OPPORTUNITY)
    ◆

    Full-year PAT up 43.4% YoY with a clean audit opinion. No deviation in preferential issue fund utilization. The H2 profit decline (-28.4% sequential) may create a buying opportunity if Q1 FY27 shows recovery.

  • Entero Healthcare / Acquisition Catalyst↓ (OPPORTUNITY)
    ◆

    The slump-sale acquisition of Vishal Surgicals could revive revenue growth. Q4 profit recovered sharply to ₹134 Mn from ₹8 Mn in Q3. AGM on Aug 19, 2026 may provide strategic updates.

  • Travel Food Services / High Dividend Yield↓ (OPPORTUNITY)
    ◆

    Dividend of ₹10.25/share on face value ₹1 implies a high payout. FY26 EPS of ₹27.91 grew 22.5% YoY. The Q4 QoQ decline may be seasonal; watch for Q1 FY27 airport traffic data.

  • Nesco / Real Estate & Dividend Growth↓ (OPPORTUNITY)
    ◆

    Revenue grew 27% YoY with dividend increased to ₹7/share (from ₹6.50). Record date July 20, 2026. The Indabrator weakness is a concern, but the core business remains strong.

  • IMFA / Long-Term Energy Cost Hedge (OPPORTUNITY)
    ◆

    The 29-year renewable PPA at 65 MW will significantly reduce power costs for ferro alloy production, a key competitive advantage. Completion by June 2027 is a medium-term catalyst.

  • Ddev Plastiks / Strategic Pivot to BESS↓ (OPPORTUNITY)
    ◆

    The move into Battery Energy Storage Systems aligns with India's renewable push. Shareholder approval is pending; if passed, it could open a new high-growth vertical.

  • Updater Services / Earnings Call Catalyst↓ (OPPORTUNITY)
    ◆

    Earnings call scheduled for May 29, 2026 at 11 AM IST. The company is relatively new to the market; strong results could drive re-rating. Watch for management guidance.

  • eMudhra / AGM & Dividend↓ (OPPORTUNITY)
    ◆

    AGM on June 25, 2026 with record date June 18, 2026. Special resolutions for re-appointment of independent directors. The digital signature company benefits from India's digitization push.

Sector Themes (6)

  • Industrial & Energy Capex Super-Cycle
    ◆

    Hitachi Energy's ₹2,000 Cr transformer facility and IMFA's 29-year renewable PPA signal a structural shift in industrial investment. Companies are committing multi-year capex to meet power grid modernization and decarbonization goals. Expect order book momentum for capital goods companies.

  • Mid-Cap Margin Squeeze
    ◆

    Aarti Pharmalabs (-31.5% PAT YoY), CIAN Agro (-93% PBT QoQ), and Entero Healthcare (-14.8% revenue YoY) all show that revenue growth is not translating to profit. Rising finance costs, forex volatility, and input cost inflation are compressing margins across the mid-cap space.

  • Audit Quality Red Flags
    ◆

    Two companies (Asian Hotels West and Kalyani Forge) received adverse/disclaimer opinions, the highest in a single filing cycle in recent memory. This signals potential systemic governance issues in smaller caps and warrants heightened due diligence.

  • Shareholder Returns via Dividends
    ◆

    Multiple companies raised dividends: Sundaram Finance (₹40 total), Travel Food Services (₹10.25), Nesco (₹7 vs ₹6.50), Hitachi Energy (₹8), and B&A Packaging (₹1). This trend suggests strong cash flows and management confidence, even amid mixed earnings.

  • Renewable Energy Pivot Accelerates
    ◆

    IMFA's 29-year PPA and Ddev Plastiks' BESS charter amendment show that even traditional manufacturing companies are integrating renewable energy into their core strategy. This could become a key differentiator for cost competitiveness.

  • Healthcare Sector Divergence
    ◆

    Entero Healthcare (revenue down 14.8%, profit up 40%) and CIAN's Healthcare division (swing from loss to ₹4,230 Cr profit) show that the healthcare space is highly fragmented, with winners and losers emerging based on cost control and M&A strategy.

Watch List (8)

  • Asian Hotels (West) / AGM & Creditor Actions↓
    👁

    AGM on June 19, 2026. Watch for shareholder resolutions on the potential Hyatt sale and any creditor-driven insolvency proceedings given the ₹4,243 Cr liability overhang.

  • Updater Services / Earnings Call↓
    👁

    May 29, 2026 at 11 AM IST. First results as a listed entity; key to watch for revenue growth trajectory and margin guidance. Trading window reopens 48 hours after results.

  • Jindal Poly Films / Board Meeting↓
    👁

    May 30, 2026. Results for Q4 and FY26. Given the challenging polyester film pricing environment, watch for margin commentary and capacity utilization.

  • Sundaram Finance / Asset Quality↓
    👁

    Impairment provisions nearly doubled to ₹450 Cr. Watch for NIM trends and commentary on the commercial vehicle cycle in the upcoming earnings call.

  • Kirloskar Industries / Analyst Meetings↓
    👁

    May 29, 2026 meetings with Antique Stock Broking and other institutions. The outcome could provide insights into the conglomerate's growth outlook.

  • PDS Limited / B&K Conference↓
    👁

    May 29, 2026. Meetings with multiple fund houses including ICICI Prudential MF. Watch for any order book updates or margin guidance in the apparel sourcing space.

  • eMudhra / AGM↓
    👁

    June 25, 2026. Special resolutions for independent director re-appointments. Watch for any governance concerns and digital signature adoption commentary.

  • Hitachi Energy / Dividend Record Date↓
    👁

    August 21, 2026. With strong results and a massive capex plan, the stock may see accumulation ahead of the record date.

Filing Analyses (50)
B&A Packaging India Limited Corporate Action neutral materiality 1/10

25-05-2026

B&A Packaging India Limited filed an annexure on May 25, 2026, digitally signed by Anupam Ghosh. The filing appears to be a corporate action disclosure but the content provided is limited to a signature block and basic header, with no financial figures, period comparisons, or detailed business updates.

  • · Filing date: May 25, 2026
  • · Digitally signed by Anupam Ghosh with email anupamgh88@gmail.com
  • · Kolkata-based signatory
Entero Healthcare Solutions Limited Corporate Governance mixed materiality 8/10

25-05-2026

Entero Healthcare Solutions Limited reported audited standalone results for Q4 and FY ended March 31, 2026. Revenue from operations for Q4 FY26 was ₹789.32 million, down 26.0% from ₹1,067.36 million in Q4 FY25, while full-year revenue fell 14.8% to ₹3,482.41 million from ₹4,086.70 million. However, net profit for Q4 FY26 rose sharply to ₹134.16 million from ₹8.05 million in Q4 FY25, and full-year profit increased to ₹268.75 million from ₹191.81 million, driven by lower expenses and exceptional items. The Board also approved the acquisition of Vishal Surgicals and Vishal Surgicals & Medicals through its subsidiary Sai Pharma Distributors Private Limited via slump sale.

  • · The Board approved re-appointment of three Non-Executive Independent Directors for a second term of five years from August 25, 2026 to August 24, 2031, subject to shareholder approval.
  • · The Board approved re-appointment of Internal Auditor Ernst & Young LLP for FY 2026-27.
  • · The 8th Annual General Meeting will be held on August 19, 2026 at 12:30 p.m. IST via video conferencing.
  • · During FY26, the Company acquired seven entities, including Rason Medical Distributors Private Limited (70% stake) and others, accounted on a provisional basis under Ind AS 103.
  • · Three non-operating subsidiaries (Zennx Software Solutions Private Limited, Quromed Lifesciences Private Limited, Rimedio Pharma Private Limited) were struck off during FY26.
  • · The Company increased its stake in Peerless Biotech Private Limited to 76% by acquiring an additional 6% in June 2025.
  • · A scheme of amalgamation of Chethana Pharma Distributors Private Limited and CPD Pharma Private Limited into Rada Medisolutions Private Limited was approved with appointed date April 15, 2025.
  • · The Company sold its entire stake in Suprabhat Pharmaceutical Private Limited on September 28, 2025, ceasing its subsidiary status.
  • · During FY26, the Company subscribed to optionally convertible debentures issued by several subsidiaries, and subsequent to year-end subscribed to more OCDs from four entities.
  • · The Company subscribed to a rights issue of 7,90,000 equity shares by Rada Medisolutions Private Limited at ₹100 each.
  • · Basic EPS for Q4 FY26 was ₹3.08 vs ₹0.18 in Q4 FY25; for FY26 it was ₹6.18 vs ₹4.41 in FY25.
Hitachi Energy India Limited Corporate Governance positive materiality 9/10

25-05-2026

Hitachi Energy India Limited reported strong financial results for Q4 FY26 and FY26, with total revenue from operations of ₹2,754.05 Cr for the quarter (up 46.2% YoY) and ₹8,147.71 Cr for the full year (up 27.6% YoY). Net profit for the quarter was ₹330.46 Cr (up 79.7% YoY) and for the year ₹987.84 Cr (up 157.2% YoY). The Board recommended a final dividend of ₹8 per share (400% of face value) and approved an additional investment of ₹2,000 Cr for a greenfield large power transformers facility in Gujarat, bringing cumulative capex to ₹4,000 Cr. However, other operating revenue declined sequentially from ₹60.90 Cr in Q3 FY26 to ₹46.70 Cr in Q4 FY26, and the company recorded a loss on fair valuation of derivatives and exchange differences of ₹31.51 Cr in Q4 FY26.

  • · The Board meeting started at 17:16 hrs IST and concluded at 18:18 hrs IST on May 25, 2026.
  • · The Seventh Annual General Meeting is scheduled for Friday, August 28, 2026 at 11:00 a.m. IST at Sheraton Grand Bangalore Hotel.
  • · Record date for dividend is August 21, 2026; dividend payment/dispatch after August 28, 2026.
  • · Audit report issued by S.R. Batliboi & Associates LLP is unmodified (unqualified opinion).
  • · The company recorded a loss on fair valuation of derivatives and exchange differences of ₹31.51 Cr in Q4 FY26 (compared to a gain of ₹38.55 Cr in Q3 FY26).
  • · Exceptional item of ₹54.24 Cr in Q3 FY26 related to impact of Labour Codes (none in Q4 FY26).
  • · Total comprehensive income for FY26 was ₹988.59 Cr vs ₹379.56 Cr in FY25.
  • · Reserves excluding revaluation reserves stood at ₹5,167.04 Cr as of March 31, 2026, up from ₹4,205.19 Cr a year ago.
Nesco Limited Corporate Action mixed materiality 8/10

25-05-2026

Nesco Limited reported audited standalone financial results for Q4 and FY ended March 31, 2026. Revenue from operations grew 31% YoY to ₹251.62 Cr in Q4 and 27% YoY to ₹932.06 Cr for the full year, while net profit rose 5% YoY to ₹93.05 Cr in Q4 and 10% YoY to ₹412.80 Cr for FY26. However, the Indabrator segment revenue declined 24% YoY in Q4 and 29% YoY for the full year, and the Foods segment saw a sequential decline of 5% in Q4. The Board recommended a final dividend of ₹7 per share (up from ₹6.50), appointed Mr. Rajesh G. Upadhyay as Executive Director (Commercial & Operations) effective June 1, 2026, and approved re-appointment of auditors.

  • · The Board meeting commenced at 4:15 PM and concluded at 6:30 PM on May 25, 2026.
  • · The 67th Annual General Meeting is scheduled for July 27, 2026 at 3:30 PM IST via video conference.
  • · Record date for dividend and AGM entitlement is July 20, 2026; dividend payment on or before August 12, 2026.
  • · Mr. Rajesh G. Upadhyay, aged 66, has over 45 years of experience and previously served as Vice President (Operations) for the Indabrator division.
  • · Deloitte Touche Tohmatsu India LLP re-appointed as Internal Auditor for FY 2026-27.
  • · M/s. Y. S. Thakar & Co. re-appointed as Cost Auditor for Indabrator division for FY 2026-27.
  • · Total comprehensive income for FY26 stood at ₹412.85 Cr vs ₹375.22 Cr in FY25.
  • · Basic and diluted EPS for FY26: ₹58.59 (vs ₹53.25 in FY25); Q4 FY26 EPS: ₹13.21 (not annualized).
  • · Segment-wise capital employed: Realty ₹1,218.78 Cr, Bombay Exhibition Center ₹207.50 Cr, Indabrator ₹39.77 Cr, Foods ₹79.46 Cr, Way-Side Amenities ₹(13.54) Cr (negative).
  • · Total assets as on March 31, 2026: ₹3,688.99 Cr (vs ₹3,015.61 Cr as on March 31, 2025).
Entero Healthcare Solutions Limited Corporate Governance mixed materiality 8/10

25-05-2026

Entero Healthcare Solutions Limited reported a net profit of ₹134.16 million for the quarter ended March 31, 2026, compared to a net profit of ₹8.05 million in the same quarter last year, a significant increase. However, for the full fiscal year ended March 31, 2026, revenue from operations declined to ₹3,482.41 million from ₹4,086.70 million in the prior year, while net profit rose to ₹268.75 million from ₹191.81 million. The Board also approved the acquisition of Vishal Surgicals and Vishal Surgicals & Medicals through a slump sale, and reappointed three independent directors.

  • · The Board approved the re-appointment of internal auditor Ernst & Young LLP for FY27.
  • · The Board noted the grant of 7,300 fresh employee stock options under the Entero Employee Stock Option Plan 2023.
  • · The 8th Annual General Meeting is scheduled for August 19, 2026, at 12:30 p.m. IST via video conferencing.
  • · During FY26, the company acquired seven entities, including Raroson Medical Distributors Private Limited (70% stake) and Peerless Biotech Private Limited (increasing stake to 76.4%).
  • · Three non-operating subsidiaries (Zennx Software Solutions Private Limited, Quromed Lifesciences Private Limited, and Rimedio Pharma Private Limited) were struck off during FY26.
  • · The company sold its entire stake in Suprabhat Pharmaceutical Private Limited on September 28, 2025.
  • · The company subscribed to optionally convertible debentures issued by several subsidiaries during and after FY26.
  • · The company utilized the full ₹9,548.00 million of IPO proceeds as of March 31, 2026.
B&A Packaging India Limited Corporate Action neutral materiality 6/10

25-05-2026

B&A Packaging India Limited will hold its Annual General Meeting on July 23, 2026, for the financial year ended March 31, 2026. The Board recommended a final dividend of ₹1 per equity share, subject to shareholder approval. The record date for the dividend is July 16, 2026, and the book closure period is July 17-23, 2026.

  • · AGM date: Thursday, July 23, 2026 at 22, Balgopalpur Industrial Area, Balasore-756020, Odisha (registered office)
  • · Board meeting held on May 25, 2026 to recommend dividend
  • · Record date for dividend: Thursday, July 16, 2026
  • · Book closure: Friday, July 17, 2026 to Thursday, July 23, 2026 (both days inclusive)
  • · Remote e-voting period: Monday, July 20, 2026 (10:00 AM) to Wednesday, July 22, 2026 (5:00 PM)
  • · Dividend of Re. 1 per share on face value ₹10 each fully paid up
  • · Scrip code: 523186 (BSE)
Aarti Pharmalabs Limited Corporate Governance mixed materiality 8/10

25-05-2026

Aarti Pharmalabs Limited reported standalone revenue from operations of ₹57,970.05 Lakh for Q4 FY26, up 9.5% YoY from ₹52,962.37 Lakh, but net profit declined 30.2% YoY to ₹6,203.07 Lakh from ₹8,884.52 Lakh. For the full year FY26, revenue grew 1.5% to ₹179,755.17 Lakh, while net profit fell 31.5% to ₹17,620.20 Lakh from ₹25,734.88 Lakh, impacted by higher finance costs, depreciation, and a fair value loss on a derivative contract. The Board recommended a final dividend of ₹2 per share and reappointed cost and internal auditors.

  • · Finance costs for FY26 more than doubled to ₹4,690.08 Lakh from ₹2,563.33 Lakh in FY25, a 83% increase.
  • · Depreciation and amortisation rose 32% to ₹10,429.86 Lakh from ₹7,905.91 Lakh.
  • · Foreign exchange loss of ₹3,320.84 Lakh in FY26 vs. a gain of ₹169.33 Lakh in FY25.
  • · The company identified an omission in fair value calculation of a target redemption forward contract; the fair value impact as at 31 March 2025 of ₹6.02 Crore (₹4.50 Crore net of deferred tax) was not previously recognised and has been booked in Q1 FY26.
  • · Total equity increased to ₹198,235.06 Lakh as at 31 March 2026 from ₹184,387.10 Lakh a year ago.
  • · Total borrowings (non-current + current) rose to ₹68,563.44 Lakh from ₹39,485.51 Lakh, a 73.6% increase.
  • · Cash flow from operations declined to ₹25,725.77 Lakh from ₹33,858.06 Lakh.
  • · Capital expenditure (additions to PPE/CWIP) was ₹40,936.68 Lakh in FY26 vs. ₹39,147.59 Lakh in FY25.
  • · The Board reappointed Smt. Ketki D. Visariya as Cost Auditor and Manish Modi & Associates as Internal Auditor for FY 2026-27.
  • · Mr. Sachin Patil and Mr. Rajendra Pagare were designated as Senior Management Personnel effective May 25, 2026.
Anupam Rasayan India Limited Analyst/Investor Meet neutral materiality 1/10

25-05-2026

Anupam Rasayan India Limited has informed the stock exchanges that the audio recording of its earnings call for the audited financial results (standalone and consolidated) for Q4 and FY ended March 31, 2026, held on May 25, 2026, is now available on the company's website. This is a routine disclosure under SEBI Listing Regulations and does not contain any financial figures or performance data.

  • · The earnings call audio recording is accessible at www.anupamrasayan.com.
  • · The call covered audited financial results for both standalone and consolidated basis for Q4 and FY ended March 31, 2026.
  • · The call was held on May 25, 2026 at 05:30 p.m. IST.
Sunrise Efficient Marketing Limited Corporate Governance neutral materiality 5/10

25-05-2026

Sunrise Efficient Marketing Limited's Board of Directors approved the standalone and consolidated audited financial results for the quarter and financial year ended March 31, 2026, along with the statement of assets and liabilities and cash flow statement. The statutory auditors issued an unmodified (clean) opinion on the financial results. The board meeting was held on May 25, 2026, from 4:00 PM to 9:00 PM.

  • · The financial results were approved for the quarter and financial year ended March 31, 2026.
  • · The statutory auditors issued an unmodified opinion on the audited financial results.
  • · The board meeting commenced at 4:00 PM and concluded at 9:00 PM on May 25, 2026.
  • · The company's scrip code on BSE is 543515.
  • · The company's CIN is L29100GJ2020PLC114489.
Aarti Pharmalabs Limited Corporate Governance mixed materiality 8/10

25-05-2026

Aarti Pharmalabs Limited reported standalone revenue from operations of ₹57,970.05 Lakh for Q4 FY26, up 9.5% YoY from ₹52,962.37 Lakh in Q4 FY25, but net profit declined 30.2% YoY to ₹6,203.07 Lakh from ₹8,884.52 Lakh. For the full year FY26, revenue grew 1.5% to ₹179,755.17 Lakh from ₹177,135.18 Lakh, while net profit fell 31.5% to ₹17,620.20 Lakh from ₹25,734.88 Lakh. The Board declared a final dividend of ₹2 per share and re-appointed cost and internal auditors.

  • · Finance costs surged 83% YoY to ₹4,690.08 Lakh in FY26 from ₹2,563.33 Lakh in FY25.
  • · Depreciation and amortisation increased 32% YoY to ₹10,429.86 Lakh.
  • · Foreign exchange loss of ₹3,320.84 Lakh in FY26 vs. gain of ₹169.33 Lakh in FY25.
  • · Total borrowings (non-current + current) rose to ₹68,563.44 Lakh as of 31 March 2026 from ₹39,485.51 Lakh a year ago.
  • · Trade receivables increased 6.1% to ₹58,655.22 Lakh from ₹55,259.04 Lakh.
  • · Inventories rose 16.9% to ₹63,621.37 Lakh from ₹54,422.44 Lakh.
  • · Cash flow from operations declined 24% to ₹25,725.77 Lakh from ₹33,858.06 Lakh.
  • · Capital expenditure (PPE/CWIP) remained elevated at ₹40,936.68 Lakh vs. ₹39,147.59 Lakh.
  • · Exceptional item of ₹279.49 Lakh recognised for new labour codes impact.
  • · Fair value loss on derivative contract of ₹2,972.94 Lakh recognised in FY26 P&L.
Cosmic CRF Limited Corporate Governance mixed materiality 8/10

25-05-2026

Cosmic CRF Limited reported standalone revenue of ₹33,389.75 Lakh for the financial year ended March 31, 2026, up from ₹30,163.70 Lakh in FY2025, representing a growth of 10.7%. Profit after tax for FY2026 increased to ₹2,629.08 Lakh from ₹1,833.10 Lakh in the prior year, a 43.4% rise. However, the half-year ended March 31, 2026 showed a decline in profit to ₹1,096.95 Lakh from ₹1,532.13 Lakh in the half-year ended September 30, 2025, indicating a sequential half-year profit drop of 28.4%. The Board also re-appointed M/s. B. Nath & Co. as Internal Auditor and M/s. Mandal Biswas Das Lodh & Co. as Cost Auditor for FY2026-27.

  • · Audit report by M/s GARV & Associates carries an unmodified (clean) opinion on both standalone and consolidated financial results for FY2026.
  • · The Board confirmed no deviation or variation in the utilization of proceeds from Preferential Issue of Equity Shares and Share Warrants during October 1, 2025 to March 31, 2026.
  • · M/s. B. Nath & Co. (Firm Regn No: 307057E) re-appointed as Internal Auditor for FY2026-27.
  • · M/s. Mandal Biswas Das Lodh & Co. (Firm Regn No: 000484) re-appointed as Cost Auditor for FY2026-27.
  • · The company transitioned to Ind AS for reporting starting FY2026; prior period figures have been restated for comparability.
  • · Basic EPS for FY2026 stood at ₹30.52 per share (face value ₹10) vs ₹22.20 per share in FY2025.
  • · Other Income increased sharply to ₹496.86 Lakh in FY2026 from ₹17.15 Lakh in FY2025.
  • · Finance Costs increased to ₹791.27 Lakh in FY2026 from ₹656.39 Lakh in FY2025, a 20.6% rise.
B.A.G Films and Media Limited Corporate Governance neutral materiality 3/10

25-05-2026

B.A.G. Films and Media Limited announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, approved by the Board on May 25, 2026. The audit reports carry an unmodified opinion. No specific financial figures were disclosed in this filing.

  • · Board meeting held on May 25, 2026 from 5:00 p.m. to 8:45 p.m.
  • · Audit reports for both standalone and consolidated results have unmodified opinion.
  • · Declaration under Regulation 33(3)(d) of SEBI Listing Regulations submitted.
Sunrise Efficient Marketing Limited Corporate Governance neutral materiality 5/10

25-05-2026

Sunrise Efficient Marketing Limited's board approved standalone and consolidated audited financial results for Q4 and FY ended March 31, 2026, with an unmodified audit opinion. The meeting also noted the auditor's report and approved the declaration of unmodified opinion under SEBI LODR regulations. No financial figures or period-over-period comparisons were disclosed in this filing.

  • · Board meeting held on May 25, 2026 at registered office in Surat.
  • · Meeting commenced at 4:00 PM and concluded at 9:00 PM.
  • · Auditor's report issued with unmodified opinion for both standalone and consolidated results.
  • · Declaration under Regulation 33(3)(d) of SEBI LODR regarding unmodified opinion was approved.
  • · Scrip code: 543515, CIN: L29100GJ2020PLC114489.
Bharat Textiles & Proofing Industries Ltd Corporate Governance neutral materiality 3/10

25-05-2026

Bharat Textiles & Proofing Industries Ltd has informed BSE that a Board Meeting is scheduled for May 29, 2026, to consider and approve the audited financial results for the quarter and year ended March 31, 2026, and to re-appoint Mr. Krishna Kumar Bhandari as Whole-Time Director. No financial figures or performance data are provided in this intimation.

  • · Board Meeting date: May 29, 2026
  • · Agenda includes approval of audited financial results for Q4 and FY ended March 31, 2026
  • · Agenda includes re-appointment of Mr. Krishna Kumar Bhandari as Whole-Time Director
B&A Packaging India Limited Corporate Action neutral materiality 5/10

25-05-2026

B&A Packaging India Limited has announced its Annual General Meeting (AGM) for FY2026 will be held on July 23, 2026, and recommended a final dividend of Re. 1 per equity share (face value ₹10 each), subject to shareholder approval. The record date for the dividend is July 16, 2026, and the book closure period is July 17–23, 2026. The remote e-voting period runs from July 20 to July 22, 2026.

  • · AGM date: Thursday, July 23, 2026 at the registered office in Balasore, Odisha.
  • · Record date for dividend: Thursday, July 16, 2026.
  • · Book closure period: Friday, July 17, 2026 to Thursday, July 23, 2026 (both days inclusive).
  • · Remote e-voting period: Monday, July 20, 2026 (10:00 AM) to Wednesday, July 22, 2026 (5:00 PM).
  • · Dividend payment will be made to members whose names appear in the Register of Members or in depository records as of the record date.
Kalyani Forge Limited Corporate Governance mixed materiality 8/10

25-05-2026

Kalyani Forge Limited reported a profit after tax of ₹931.74 lakh for the year ended March 31, 2026, compared to ₹131.48 lakh in the prior year, a significant increase. However, the quarterly performance was mixed: the quarter ended March 31, 2026 showed a profit of ₹587.98 lakh, while the preceding quarter (December 31, 2025) posted a loss of ₹11.90 lakh. The Board recommended a dividend of ₹4.00 per share (40%) and reappointed internal and cost auditors. The auditor issued a disclaimer of opinion on the financial statements for the third consecutive year, citing unascertainable inventory valuation, unreconciled trade receivables/payables, and inadequate internal financial controls.

  • · The auditor issued a disclaimer of opinion for the third consecutive year, citing unascertainable inventory valuation, unreconciled trade receivables/payables, and inadequate internal financial controls.
  • · Revenue from operations for the full year declined slightly to ₹23,464.47 lakh from ₹23,664.33 lakh in FY25, a decrease of 0.8%.
  • · Other income for the year was ₹226.68 lakh, down from ₹251.11 lakh in the prior year.
  • · Finance costs for the year increased to ₹766.10 lakh from ₹703.79 lakh in FY25.
  • · Depreciation and amortisation expense rose to ₹954.65 lakh from ₹787.00 lakh in FY25.
  • · The company's total assets as at March 31, 2026 were ₹25,148.25 lakh, up from ₹22,736.35 lakh a year earlier.
  • · Total liabilities (current + non-current) increased to ₹15,593.86 lakh from ₹14,064.67 lakh.
  • · Net cash from operating activities was ₹745.68 lakh for FY26, compared to ₹2,182.96 lakh in FY25, a significant decline.
  • · Capital expenditure on property, plant and equipment was ₹3,311.53 lakh in FY26, up from ₹2,434.98 lakh in FY25.
  • · The company is in the process of evaluating the impact of the new labour codes effective from November 21, 2025.
Nilachal Refractories Ltd. Corporate Governance neutral materiality 2/10

25-05-2026

Nilachal Refractories Ltd. has informed stock exchanges that a Board Meeting will be held on May 29, 2026, to consider the appointment of a Company Secretary and Compliance Officer, along with other matters. The filing is a routine corporate governance disclosure with no financial results or performance data.

  • · Board Meeting scheduled for 29/05/2026 at 11:30 AM at 30D, J. L. Nehru Road, Kolkata-700016.
  • · Agenda includes appointment of Company Secretary and Compliance Officer under Section 203 of Companies Act, 2013 and Regulation 6 of SEBI LODR Regulations.
  • · Company CIN: L26939OR1977PLC000735, GSTIN: 21AABCN1241N1ZS.
  • · Scrip codes: BSE 502294, CSE 19120.
Narmada Macplast Drip Irrigation Sy Corporate Governance neutral materiality 4/10

25-05-2026

Narmada Macplast Drip Irrigation Systems Ltd. notified BSE that a Board meeting is scheduled for Saturday, 30th May, 2026 to consider and approve the Audited Financial Results for the quarter and year ended March 31, 2026 and any other business. The company confirms the trading window was closed for all designated persons and immediate relatives with effect from April 01, 2026 and will remain closed until 48 hours after the audited standalone results are declared to the stock exchange, restricting insider dealing during this period.

  • · Board meeting date: Saturday, 30th May, 2026.
  • · Purpose: To consider and approve Audited Financial Results for the quarter and year ended March 31, 2026 (pursuant to Regulation 33 of SEBI LODR).
  • · Trading window closure start date for designated persons and their immediate relatives: April 01, 2026 (pursuant to SEBI PIT Regulations and company Code of Conduct).
  • · Trading window re-opening condition: 48 hours after the Audited Standalone Financial Results for the quarter and year ended March 31, 2026 become generally available (i.e., after declaration to the Stock Exchange).
  • · Filing date: 25th May, 2026; recipient: BSE Limited (Script Code: 517431).
  • · Regulatory references cited: Regulation 29 and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015; SEBI (Prohibition of Insider Trading) Regulations, 2015.
Arihant Foundations & Housing Ltd. Corporate Governance neutral materiality 4/10

25-05-2026

A meeting of the Board of Directors of Arihant Foundations & Housing Limited is scheduled for May 29, 2026 to consider and approve the Audited Financial Results for the quarter and year ended March 31, 2026 (FY 2025-26). The company's trading window will remain closed until 48 hours after the announcement of those financial results, in line with its Code of Internal Procedures and Conduct for Prohibition of Insider Trading.

  • · Board meeting date: May 29, 2026 (to consider and approve Audited Financial Results for quarter and year ended March 31, 2026 for Financial Year 2025-26).
  • · Trading window closure: remains closed until 48 hours after announcement of the aforesaid financial results, per Company's Code of Internal Procedures and Conduct for Prohibition of Insider Trading.
  • · Filing/notice date: May 25, 2026.
  • · Security Code: 531381.
  • · Investor information posted at: https://www.arihantspaces.com/investors/
Travel Food Services Limited Corporate Governance mixed materiality 8/10

25-05-2026

Travel Food Services Limited reported audited standalone financial results for FY26, with revenue from operations increasing 7.2% YoY to ₹13,021.42 million and net profit rising 22.6% YoY to ₹3,675.72 million. However, on a sequential quarterly basis, Q4 FY26 revenue declined 4.9% from Q3 FY26, and net profit fell 11.3% QoQ. The Board recommended a dividend of ₹10.25 per equity share and approved the appointment of Mr. Rituparn Sharma as Senior Vice President (Corporate Affairs).

  • · The auditors issued an unmodified opinion on the standalone financial results for FY26.
  • · The Board meeting commenced at 2:25 p.m. and concluded at 7:45 p.m. on May 25, 2026.
  • · The company was formerly known as Travel Food Services Private Limited and got listed during the current year ended March 31, 2026.
  • · Total comprehensive income for FY26 stood at ₹3,661.67 million, up from ₹3,000.82 million in FY25.
  • · Other equity increased to ₹10,996.24 million as of March 31, 2026 from ₹7,847.67 million a year ago.
  • · Trade receivables more than doubled to ₹2,781.16 million from ₹1,030.34 million as of March 31, 2025.
  • · Cash and cash equivalents increased to ₹349.81 million from ₹186.78 million.
  • · Finance costs rose sharply by 38.6% YoY to ₹611.16 million in FY26.
  • · Cost of materials consumed declined 13.2% YoY to ₹1,793.92 million.
  • · The dividend of ₹10.25 per share is subject to shareholder approval at the AGM and will be paid within five days of the AGM.
Shriram Properties Limited Analyst/Investor Meet neutral materiality 2/10

25-05-2026

Shriram Properties Limited informed the stock exchanges that an audio recording of its investor conference call held on May 25, 2026, to discuss the audited financial results for Q4 and FY ended March 31, 2026, has been uploaded on the company's website. The transcript will be shared in due course. No financial figures or performance details were disclosed in this filing.

  • · The audio recording of the investor conference call is accessible at https://www.shriramproperties.com/financials
  • · The company will share the transcript of the conference call with stock exchanges in due course.
Entero Healthcare Solutions Limited Merger/Acquisition mixed materiality 8/10

25-05-2026

Entero Healthcare Solutions Limited reported a mixed performance for FY26. While full-year profit after tax increased 40% YoY to ₹268.75 million, the fourth quarter (Q4 FY26) saw a sharp sequential decline in profit to ₹134.16 million from ₹8.05 million in Q3 FY26, impacted by exceptional items. The Board also approved the acquisition of Vishal Surgicals and Vishal Surgicals & Medicals via a slump sale through its subsidiary Sai Pharma Distributors Private Limited.

  • · Full-year revenue declined 14.8% YoY to ₹3,482.41 million, while profit after tax increased 40.1% to ₹268.75 million, aided by lower exceptional items (₹44.97 million in FY26 vs ₹470.81 million in FY25).
  • · Q4 FY26 revenue was ₹789.32 million, down 26% YoY from ₹1,067.36 million in Q4 FY25, but up 9.2% sequentially from ₹723.02 million in Q3 FY26.
  • · Q4 FY26 profit of ₹134.16 million was significantly higher than Q3 FY26's ₹8.05 million, but the Q3 figure was depressed by a ₹44.97 million exceptional charge related to New Labour Codes.
  • · The Board approved the re-appointment of three independent directors for a second term from August 25, 2026 to August 24, 2031, subject to shareholder approval.
  • · The company acquired 7 entities during FY26, including Raroson Medical Distributors (70% stake), Si K Pharma (70%), and Anand Chemaceutics (51.51%).
  • · Three non-operating subsidiaries (Zennx Software, Quromed Lifesciences, Rimedio Pharma) were struck off during FY26.
  • · The company sold its entire stake in Suprabhat Pharmaceutical Private Limited on September 28, 2025, deconsolidating it.
  • · Post year-end, the company subscribed to optionally convertible debentures issued by four subsidiaries (Saurashtra Medisolutions, Sri Parshva Pharma, SS Pharma Traders, Avenues Pharma Distributors).
  • · The 8th Annual General Meeting is scheduled for August 19, 2026 via video conferencing.
Shashwat Furnishing Solutions Limited Corporate Governance neutral materiality 5/10

25-05-2026

Shashwat Furnishing Solutions Limited's Board approved audited standalone and consolidated financial results for the half year and year ended March 31, 2026, with an unmodified audit opinion from M/s A Y & Co. The consolidated results include the subsidiary Dhruvanshi Agrotech Private Limited (acquired November 13, 2024). No specific financial figures were disclosed in the filing, so performance trends cannot be assessed.

  • · Audited standalone and consolidated financial results for the half year and year ended March 31, 2026 were approved.
  • · Auditor M/s A Y & Co issued an unmodified (clean) opinion on both standalone and consolidated results.
  • · Consolidated results include subsidiary Dhruvanshi Agrotech Private Limited, acquired on November 13, 2024.
  • · Board meeting started at 6:30 PM and concluded at 7:00 PM on May 25, 2026.
  • · The standalone results for the half year ended March 31, 2026 are balancing figures between audited full-year and unaudited half-year figures.
CIAN Agro Industries & Infrastructure Limited Corporate Governance mixed materiality 8/10

25-05-2026

CIAN Agro Industries & Infrastructure Limited reported audited standalone financial results for Q4 and FY ended March 31, 2026. For the quarter, net sales/income from operations surged to ₹15,563.62 Lakhs from ₹8,165.41 Lakhs in Q4 FY25, a 90.6% increase. However, profit before tax for the quarter was only ₹41.43 Lakhs compared to ₹600.38 Lakhs in the same quarter last year, a sharp decline of 93.1%. For the full year, net sales rose to ₹42,252.75 Lakhs from ₹26,337.30 Lakhs (up 60.4%), while profit before tax remained nearly flat at ₹231.52 Lakhs versus ₹221.18 Lakhs (up 4.7%). The statutory auditors issued an unmodified opinion.

  • · Segment-wise, for FY26, the Agro Division reported a segment loss of ₹2,173.07 Lakhs (vs profit of ₹2,638.50 Lakhs in FY25), while the Healthcare Division posted a profit of ₹4,229.88 Lakhs (vs loss of ₹141.54 Lakhs in FY25). The Infrastructure Division reported a loss of ₹224.04 Lakhs (vs loss of ₹717.08 Lakhs in FY25).
  • · Trade receivables increased sharply to ₹7,871.87 Lakhs as at March 31, 2026 from ₹2,047.40 Lakhs a year ago.
  • · Total borrowings (non-current + current) stood at ₹12,042.73 Lakhs as at March 31, 2026, down from ₹14,028.56 Lakhs as at March 31, 2025.
  • · Cash and cash equivalents increased to ₹95.51 Lakhs from ₹69.61 Lakhs.
  • · The company has assessed the impact of the New Labour Codes and does not expect a material impact on financial statements for the year.
eMudhra Limited Corporate Governance neutral materiality 5/10

25-05-2026

eMudhra Limited has issued the notice for its 18th Annual General Meeting (AGM) to be held on June 25, 2026 via video conferencing. The agenda includes adoption of audited financial statements for FY 2025-26, declaration of dividend, re-appointment of directors, and special resolutions for re-appointment of independent directors Ms. Chandra Iyer and Mr. Chandrasekar Padmanabhan for second terms. The record date for dividend and e-voting is June 18, 2026.

  • · AGM will be held on June 25, 2026 at 11:00 a.m. IST through VC/OAVM.
  • · Record date for dividend and e-voting is June 18, 2026.
  • · Special resolutions for re-appointment of Ms. Chandra Iyer (second term from Aug 13, 2026 to Aug 12, 2031) and Mr. Chandrasekar Padmanabhan (second term from Nov 3, 2026 to Nov 2, 2031).
  • · Ordinary business includes adoption of standalone and consolidated financial statements, dividend declaration, and re-appointment of Mr. Venu Madhava.
  • · Remote e-voting facility is provided; instructions for NSDL and CDSL demat account holders are detailed.
Oseaspre Consultants Ltd. Corporate Governance neutral materiality 5/10

25-05-2026

Oseaspre Consultants Ltd. has recommended a dividend of ₹87.00 per equity share for FY 2025-26, subject to shareholder approval at the AGM on June 19, 2026. The company has issued a detailed communication to shareholders regarding Tax Deduction at Source (TDS) on the dividend, outlining varying rates for resident and non-resident shareholders and the documentation required to claim lower or nil withholding. Shareholders must submit relevant forms and declarations by June 12, 2026, to ensure appropriate tax deduction.

  • · The dividend is subject to approval by members at the 44th Annual General Meeting scheduled for June 19, 2026.
  • · Record date (cut-off) for dividend entitlement is June 12, 2026; Register of Members will be closed from June 13 to June 19, 2026.
  • · Resident individuals receiving total dividend of ₹10,000 or less from the company during Tax Year 2026-27 are exempt from TDS.
  • · Non-resident shareholders may claim beneficial DTAA rates by submitting Form 41, Tax Residency Certificate, and other declarations by June 12, 2026.
  • · Shareholders with multiple accounts under different statuses but same PAN will have TDS deducted at the highest applicable rate across those accounts.
  • · If PAN is not linked with Aadhaar, it becomes inoperative and TDS will be deducted at 20% for resident shareholders.
  • · All tax-related documents must be submitted on or before June 12, 2026; no requests will be entertained after that date.
  • · The company will not be liable for any claim if higher TDS is deducted due to incomplete or missing documentation.
ACCEDERE LIMITED Corporate Governance neutral materiality 3/10

25-05-2026

Accedere Limited has informed BSE that a Board Meeting will be held on May 29, 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The trading window has been closed since April 1, 2026, and will reopen 48 hours after the results are made public. No financial figures or performance comparisons are provided in this intimation.

  • · Board meeting scheduled for Friday, 29th May 2026.
  • · Agenda includes approval of audited standalone and consolidated financial results for Q4 and FY ended 31st March 2026.
  • · Trading window closed from April 1, 2026, until 48 hours after results are made public on May 29, 2026.
  • · Company CIN: L32000MH1983PLC030400, Scrip Code: 531533.
Viceroy Hotels Limited Analyst/Investor Meet neutral materiality 2/10

25-05-2026

Viceroy Hotels Limited informed the stock exchanges that the audio recording of its post-earnings conference call for Q4 and the fiscal year ended March 31, 2026, held on May 25, 2026, is available on the company's website. The filing itself does not contain any financial figures or performance data, so no quantitative metrics can be extracted.

  • · The audio recording of the earnings call is available at: https://www.viceroyhotels.in/files/22.05.2026_Audio%20Recording.mp3
  • · The filing was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  • · The company's BSE scrip code is 523796 and NSE symbol is VHLTD.
Standard Capital Markets Ltd. Corporate Governance neutral materiality 3/10

25-05-2026

Standard Capital Markets Ltd. has informed the stock exchange that a Board Meeting will be held on May 29, 2026, to consider and approve the standalone and consolidated audited financial results for the quarter and year ended March 31, 2026. The trading window for designated persons and their relatives has been closed from April 1, 2026, until 48 hours after the results are declared.

  • · Board meeting scheduled for May 29, 2026 via video conferencing; deemed place of meeting is Unit 226, 2nd Floor, D Mall, Netaji Subash Place, Pitampura, New Delhi - 110034.
  • · Trading window closed from April 1, 2026 until 48 hours after financial results declaration.
  • · Reference number of the letter: SCML/2026-27/444.
  • · Scrip Code: 511700.
  • · CIN: L74899DL1987PLC027057.
HLE Glascoat Limited Analyst/Investor Meet neutral materiality 3/10

25-05-2026

HLE Glascoat Limited has informed the stock exchanges that the audio recording of its Q4 FY26 earnings call, held on May 25, 2026, is available on the company's website. The call discussed the operational and financial performance for the quarter and year ended March 31, 2026. No specific financial figures or performance comparisons are provided in this filing.

  • · The audio recording is available at https://www.hleglascoat.com/wp-content/uploads/2026/05/10043843.mp3
  • · The filing was made pursuant to Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015
Shri Krishna Prasadam Ltd Corporate Governance neutral materiality 3/10

25-05-2026

Shri Krishna Prasadam Ltd held a Board Meeting on May 25, 2026, where the appointment of Ms. Gurjeet Kaur as Internal Auditor for FY 2025-26 was approved. The company also corrected a prior typographical error regarding the designation of Mr. Suryakant Gupta. No financial results or period-over-period comparisons were disclosed in this filing.

  • · The Board Meeting commenced at 11:00 AM IST and concluded at 12:30 PM IST on May 25, 2026.
  • · Ms. Gurjeet Kaur is a member of the Institute of Company Secretaries of India and holds a B.Com (Hons.) from the University of Delhi.
  • · The appointment of Ms. Gurjeet Kaur as Internal Auditor is for the period from April 1, 2025 to March 31, 2026.
  • · The company corrected a typographical error from the Board Meeting dated April 8, 2026, where Mr. Suryakant Gupta's designation was incorrectly stated as 'Chairperson of the Company' instead of 'Chairperson of the Board'.
Amit International Ltd. Director Resignation neutral materiality 3/10

25-05-2026

Amit International Ltd. has received resignations from two Additional Independent Directors: Mrs. Sheetal Ganatra and Mr. Somnath Vaijnath Kumbhar, effective May 25, 2026. Both cited pre-occupation with other activities / better opportunities as the reason for resignation, and confirmed there are no other material reasons. The company has acknowledged their contributions and filed the intimation with BSE under Regulation 30 of SEBI LODR.

  • · The resignations were tendered as Additional Independent Directors.
  • · Both directors confirmed they do not hold directorship or committee memberships in any other listed entity.
  • · Resignation letters were enclosed as Annexure I (Ganatra) and Annexure II (Kumbhar).
  • · Scrip Code: 531300.
CAPTAIN POLYPLAST LIMITED Analyst/Investor Meet neutral materiality 1/10

25-05-2026

Captain Polyplast Limited has informed the stock exchanges that the transcript of its earnings call held on May 25, 2026, has been uploaded on the company's website. The filing provides a link to the audio recording of the conference call but does not include any financial figures or performance data.

  • · The transcript of the earnings call held on May 25, 2026, is available at https://captainpolyplast.com/CPL-Q4FY26-Conference-Call-Audio.mp3
  • · The filing was signed by Managing Director Rameshbhai D. Khichadia (DIN: 00087859)
Travel Food Services Limited Corporate Action mixed materiality 8/10

25-05-2026

Travel Food Services Limited reported audited standalone financial results for FY2026, with revenue from operations increasing 7.6% YoY to ₹13,021.42 million and net profit rising 22.6% YoY to ₹3,675.72 million. However, on a sequential quarterly basis, revenue declined 4.9% from ₹3,572.88 million in Q3 FY2026 to ₹3,396.28 million in Q4 FY2026, and net profit fell 11.3% from ₹1,107.52 million to ₹982.75 million. The Board recommended a dividend of ₹10.25 per equity share (face value ₹1) and appointed Mr. Rituparn Sharma as Senior Vice President (Corporate Affairs).

  • · Auditors issued unmodified opinion on standalone and consolidated financial results for FY2026.
  • · Total comprehensive income for FY2026 stood at ₹3,661.67 million vs ₹3,000.82 million in FY2025.
  • · Earnings per share (basic) for FY2026: ₹27.91 vs ₹22.78 in FY2025.
  • · Finance costs increased to ₹611.16 million in FY2026 from ₹440.84 million in FY2025.
  • · Deferred tax asset (net) rose to ₹790.15 million as at 31 March 2026 from ₹615.67 million a year ago.
  • · Trade receivables increased sharply to ₹2,781.16 million from ₹1,030.34 million as at 31 March 2025.
  • · Cash and cash equivalents stood at ₹349.81 million as at 31 March 2026 vs ₹186.78 million a year ago.
  • · The Board meeting commenced at 2:25 p.m. and concluded at 7:45 p.m. on May 25, 2026.
Sundaram Finance Limited Corporate Action mixed materiality 8/10

25-05-2026

Sundaram Finance Limited reported audited standalone and consolidated financial results for the year ended March 31, 2026. Standalone PAT grew 18.9% YoY to ₹1,834.17 Cr, while consolidated PAT rose 9.5% YoY to ₹2,058.86 Cr. The Board recommended a final dividend of ₹24 per share (240%), bringing the total dividend for FY26 to ₹40 per share (400%). However, consolidated PAT for Q4 FY26 was ₹554.17 Cr, nearly flat compared to ₹552.98 Cr in Q4 FY25, and standalone Q4 PAT of ₹608.38 Cr was up only 11.5% from ₹545.85 Cr in the same quarter last year, indicating a slowdown in quarterly growth momentum.

  • · Standalone revenue from operations for FY26 was ₹7,682.96 Cr, up from ₹6,520.44 Cr in FY25.
  • · Consolidated revenue from operations for FY26 was ₹9,808.92 Cr, up from ₹8,485.63 Cr in FY25.
  • · Standalone impairment/provisions on financial instruments for FY26 were ₹4,50.00 Cr, up from ₹241.51 Cr in FY25.
  • · Consolidated impairment/provisions on financial instruments for FY26 were ₹553.31 Cr, up from ₹251.87 Cr in FY25.
  • · Standalone debt-equity ratio as of 31-Mar-26 was 4.30, slightly up from 4.25 a year ago.
  • · Consolidated debt-equity ratio as of 31-Mar-26 was 4.68, up from 4.63 a year ago.
  • · Standalone net profit margin for FY26 was 23.87%, up from 23.66% in FY25.
  • · Consolidated net profit margin for FY26 was 20.99%, down from 22.15% in FY25.
  • · Standalone operating margin for FY26 was 52.26%, up from 50.10% in FY25.
  • · Consolidated operating margin for FY26 was 51.62%, up from 50.20% in FY25.
  • · Standalone Gross Stage 3 Loans remained at 1.44% as of 31-Mar-26, same as 31-Mar-25.
  • · Standalone Net Stage 3 Loans improved to 0.69% as of 31-Mar-26 from 0.75% a year ago.
  • · Consolidated Gross Stage 3 Loans was 1.37% as of 31-Mar-26 vs 1.35% a year ago.
  • · Consolidated Net Stage 3 Loans improved to 0.65% as of 31-Mar-26 from 0.70% a year ago.
  • · Standalone Capital Adequacy Ratio declined to 19.07% as of 31-Mar-26 from 20.42% a year ago.
  • · Consolidated Capital Adequacy Ratio was 19.07% as of 31-Mar-26 (no prior year figure provided).
  • · The company acquired 2,730 loan accounts from its subsidiary for ₹753.26 Cr, retaining 90% beneficial economic interest.
  • · No stressed loans were transferred or acquired during FY26.
  • · Exceptional items of ₹74.75 Cr (standalone) and ₹75.61 Cr (consolidated) were recorded due to the impact of new Labour Codes notified on November 21, 2025.
  • · The Board meeting commenced at 10:00 AM and concluded at 1:15 PM on May 25, 2026.
  • · The record date for the final dividend is July 6, 2026, with payment on or after July 23, 2026.
Royal Orchid Hotels Limited Corporate Action mixed materiality 8/10

25-05-2026

Royal Orchid Hotels Limited reported standalone revenue from operations of ₹20,844.50 lakh for the year ended 31 March 2026, up 2.7% from ₹20,295.01 lakh in the prior year. However, total income declined slightly to ₹21,289.77 lakh from ₹21,413.95 lakh, and the auditor issued a qualified opinion due to an ongoing NCLT litigation regarding associate Ksheer Sagar Developers Private Limited. The Board recommended a final dividend of ₹2.5 per equity share and appointed Ms. Padmini V. Krupanidhi as Company Secretary and Compliance Officer.

  • · Auditor issued a qualified opinion due to inability to comment on legal compliance by KSDPL under the Companies Act, 2013, given ongoing NCLT litigation.
  • · SEBI issued an interim order cum show cause notice on 31 March 2023 regarding alleged incorrect accounting of loss of control over KSDPL; the final order dated 11 October 2024 has been stayed by SAT on 5 November 2024.
  • · Quarter ended 31 March 2026 revenue from operations declined 8.2% YoY to ₹5,386.36 lakh from ₹5,869.29 lakh.
  • · Total expenses before depreciation and amortisation and finance costs for the quarter ended 31 March 2026 were ₹4,059.22 lakh (no prior period comparison provided in the filing).
  • · Board meeting lasted only 8 minutes (3:33 PM to 3:41 PM).
Sundaram Finance Limited Corporate Governance neutral materiality 6/10

25-05-2026

Sundaram Finance Limited's Board of Directors approved raising up to ₹500 cr. in additional Tier 2 capital through the issuance of Subordinated Non-Convertible Debentures on a private placement basis during FY 2026-27. The board meeting was held on May 25, 2026, and the proposal allows for one or more tranches. No prior-period comparison or performance metrics are available in this filing.

  • · Board meeting commenced at 10:00 A.M. and concluded at 1:15 P.M. on May 25, 2026.
  • · The debentures are classified as additional Tier 2 capital.
  • · Issuance will be on a private placement basis in one or more tranches.
Updater Services Limited Corporate Governance neutral materiality 3/10

25-05-2026

Updater Services Limited has informed the stock exchanges that a Board Meeting is scheduled for May 28, 2026, to consider and approve the standalone and consolidated audited financial results for the quarter and financial year ended March 31, 2026. The trading window has been closed from April 1, 2026, until 48 hours after the results declaration, in compliance with insider trading regulations.

  • · Board meeting date: May 28, 2026
  • · Trading window closure period: April 1, 2026, to 48 hours after results declaration
  • · Previous intimation of trading window closure was sent on March 26, 2026
Sundaram Finance Limited Corporate Governance positive materiality 6/10

25-05-2026

Sundaram Finance Limited's Board of Directors recommended a final dividend of ₹24 per share (240%) for FY2026, bringing the total dividend to ₹40 per share (400%) when combined with the interim dividend of ₹16 per share (160%) paid earlier. The record date for the final dividend, subject to shareholder approval, is fixed as July 6, 2026, with payment on or after July 23, 2026.

  • · Board meeting commenced at 10:00 AM and concluded at 1:15 PM on May 25, 2026.
  • · Interim dividend of ₹16 per share was paid on February 25, 2026.
  • · Record date for final dividend is July 6, 2026; payment date on or after July 23, 2026.
Beezaasan Explotech Limited Corporate Governance neutral materiality 5/10

25-05-2026

Beezaasan Explotech Limited has informed the exchange that a Board meeting is scheduled for May 29, 2026, to consider and approve the audited standalone and consolidated financial results for the half year and year ended March 31, 2026. The trading window for designated persons has been closed since April 1, 2026, and will remain closed until 48 hours after the results are declared.

  • · The Board meeting is scheduled for Friday, May 29, 2026.
  • · The trading window for designated persons has been closed since Wednesday, April 1, 2026.
  • · The trading window will reopen 48 hours after the declaration of the audited financial results.
  • · The company was formerly known as Beezaasan Explotech Private Limited.
KMS Medisurgi Limited Corporate Governance neutral materiality 3/10

25-05-2026

KMS Medisurgi Limited has informed BSE that a Board Meeting will be held on May 30, 2026 to consider and approve the standalone audited financial results for the year ended March 31, 2026. The trading window has been closed from April 1, 2026 and will remain closed until 48 hours after the results are communicated. No financial figures or period-over-period comparisons are provided in this filing.

  • · Board meeting scheduled for Saturday, May 30, 2026 at 2:00 PM at the registered office in Mumbai.
  • · Agenda includes approval of standalone audited financial results for FY ended March 31, 2026.
  • · Trading window closed from April 1, 2026 until 48 hours after results communication.
  • · Company's scrip code is 540468 on BSE.
IRONWOOD EDUCATION LIMITED Corporate Governance neutral materiality 5/10

25-05-2026

Ironwood Education Limited has scheduled a Board of Directors meeting for May 28, 2026, to approve the standalone and consolidated audited annual accounts and audited financial results for the quarter and financial year ended March 31, 2026. The Board will also consider an increase in Authorised Share Capital of the Company, subject to shareholder approval. Consequently, the trading window has been closed from the date of intimation until May 30, 2026, for all directors, promoters and designated persons.

  • · Board meeting scheduled on May 28, 2026
  • · Trading window closed until May 30, 2026
  • · Proposed increase in Authorised Share Capital is subject to shareholder approval
  • · CIN: L68100MH1983PLC030838
  • · Company registered address: Gokul Regency II, B Wing, Thakur Complex, Off Western Express Highway, Kandivali (East), Mumbai 400101
Kirloskar Industries Limited Analyst/Investor Meet neutral materiality 2/10

25-05-2026

Kirloskar Industries Limited has informed the stock exchanges about scheduled management interactions with investors and analysts on May 29, 2026. The meetings include a 1x1 meeting with Antique Stock Broking Limited and a group meeting with multiple financial institutions. No financial results or performance data were disclosed in this filing.

  • · The meetings are scheduled for Friday, 29th May 2026.
  • · The 1x1 meeting with Antique Stock Broking Limited is from 11 a.m. to 12 p.m.
  • · The group meeting with Esavvy management LLP, Greenedge Wealth, Edelweiss Public Alternatives, Nizar Securities, Pawan Nahar, and Rishi Biyani is from 12 p.m. to 1 p.m.
  • · The schedule is subject to change due to exigencies.
TAKYON NETWORKS LIMITED Analyst/Investor Meet neutral materiality 2/10

25-05-2026

Takyon Networks Limited held an earnings conference call for Q4FY26 on May 25, 2026, hosted by Finportal Investments Private Limited. The management participated in a Q&A format without any presentation or sharing of unpublished price sensitive information. No financial figures or performance metrics were disclosed in the filing.

  • · The conference call was held virtually on May 25, 2026.
  • · No presentation was made by company officials.
  • · No unpublished price sensitive information (UPSI) was shared.
  • · The call transcript is available on the company's website at https://takyon.co.in/investors/Investors_Earning_Call.
Asian Hotels (West) Ltd Corporate Governance negative materiality 9/10

25-05-2026

Asian Hotels (West) Ltd reported audited standalone and consolidated financial results for Q4 and FY ending March 31, 2026, which received an adverse audit opinion from statutory auditors J.C. Bhalla & Co. due to multiple material issues including potential sale of Hyatt Regency Mumbai uncovered to shareholders, going concern uncertainty with current liabilities exceeding current assets by ₹4,243.29 Cr, and non-recognition of interest expenses totaling at least ₹944.35 Cr. The board also approved the 19th AGM scheduled for June 19, 2026.

  • · Auditor gave an adverse opinion due to potential undisclosed sale of Hyatt Regency Mumbai, going concern uncertainty, and lack of proper records for fixed assets.
  • · The entire property, plant and equipment balance of ₹14.92 Cr could not be verified.
  • · Statutory dues balances are subject to reconciliation and interest adequacy could not be assessed.
  • · The Company has not filed necessary forms with MCA for creating security on Hyatt Regency Mumbai.
  • · Shareholders were not informed about the exercise option granted to Saraf Group to acquire the asset.
PDS Limited Analyst/Investor Meet neutral materiality 3/10

25-05-2026

PDS Limited has informed stock exchanges that it will attend the B&K Trinity India Conference on May 29, 2026, involving group meetings with multiple fund houses and a one-on-one meeting with ICICI Prudential MF. The company confirmed that no unpublished price-sensitive information will be shared, with discussions limited to publicly available information.

  • · The company confirmed no unpublished price-sensitive information will be shared during the meetings.
  • · The schedule may change due to exigencies on the part of investors/company.
  • · B&K Trinity is hosting the India Conference on May 29, 2026.
Jindal Poly Films Limited Corporate Governance neutral materiality 3/10

25-05-2026

Jindal Poly Films Limited has informed the stock exchanges that a Board Meeting is scheduled for May 30, 2026, to consider and approve the audited financial results for Q4 and FY ended March 31, 2026. The trading window for designated persons remains closed until 48 hours after the results are declared. No financial figures or performance data are provided in this filing.

  • · Board meeting date: May 30, 2026
  • · Agenda: Approval of audited financial results (standalone & consolidated) for Q4 and FY ended March 31, 2026
  • · Trading window closure continues until 48 hours after results declaration
  • · Prior intimation given on May 25, 2026
Ddev Plastiks Industries Limited Corporate Governance neutral materiality 5/10

25-05-2026

Ddev Plastiks Industries Limited has proposed amendments to its Memorandum and Articles of Association to include activities related to Battery Energy Storage System (BESS) projects under the renewable energy sector, along with allied and ancillary businesses. The amendments are subject to shareholder approval and aim to align the company's governance framework with statutory requirements. No financial figures or period-over-period comparisons are provided in this filing.

  • · The Board of Directors considered the amendments at a meeting on May 25, 2026.
  • · The amendments are subject to approval by the company's members (shareholders).
  • · The filing is made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  • · The company's scrip code is 543547 on BSE and symbol DDEVPLSTIK on NSE.
  • · The submission will be uploaded on the company's website under 'Changes' in the 'Other Disclosure' tab.
Updater Services Limited Analyst/Investor Meet neutral materiality 3/10

25-05-2026

Updater Services Limited announced an earnings conference call for Q4 and FY26 results, scheduled for May 29, 2026, at 11:00 AM IST. The call will feature key management including the Promoter, MD & Chairman, Senior Executive Director, and Group CFO. No financial results or performance data were disclosed in this filing.

  • · Earnings conference call scheduled for Friday, 29th May 2026 at 11:00 AM IST.
  • · Dial-in details provided for India, USA, UK, Singapore, and Hong Kong.
  • · Pre-registration link available for participants.
  • · Filing made pursuant to Regulation 30(6) of SEBI (LODR) Regulations, 2015.
  • · Company's CIN: L74140TN2003PLC051955.
Indian Metals & Ferro Alloys Limited Merger/Acquisition positive materiality 7/10

25-05-2026

Indian Metals & Ferro Alloys Limited (IMFA) has entered into a 29-year Power Purchase Agreement with EG URJA STROT PRIVATE LIMITED to supply 65 MW of hybrid renewable power (81.4 MW solar, 102.6 MW wind, 25 MWh BESS) under a captive consumer structure. IMFA will acquire a 26% equity stake in the power producer for a cash consideration of ₹110.18 Crore, with completion expected by June 2027. The acquisition is not a related party transaction and the target entity has nil turnover and no prior financial history.

  • · The target entity EG URJA STROT PRIVATE LIMITED was incorporated on 06 March 2025 and has nil turnover and nil financial history for the last 3 years.
  • · The acquisition is structured as a cash consideration of ₹110.18 Crore payable in one or more tranches.
  • · The completion of the acquisition is expected by June 2027.
  • · The agreement is for 29 years under a captive consumer structure as defined in the Electricity Act, 2003 and Electricity Rules, 2005.
  • · No governmental or regulatory approvals are required for the acquisition.

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