Executive Summary
Today's digest reveals a market dominated by procedural noise (trading window closures for Q2 FY27 results) with a few high-impact corporate events. The most critical development is GHV Infra Projects' termination of its EPC contract in the UAE due to war in West Asia and employer default, signaling severe geopolitical and execution risks in international projects.
In contrast, Godrej Properties is aggressively expanding in South Mumbai with a ~₹6,000 crore luxury project, reflecting strong domestic demand in the high-end real estate segment. Arisinfra Solutions is strategically scaling its material subsidiary, Buildmex-Infra, which has shown explosive revenue growth (899% in two years) from ₹17.93 crore (FY24) to ₹179.03 crore (FY26). National Highways Infra Trust (NHAI) continues to report losses, though the magnitude has reduced significantly. The majority of filings (38 of 50) are routine trading window closures, which collectively indicate the upcoming Q2 FY27 earnings season starting mid-October. Insider activity is limited to a manual promoter disclosure by Nureca, suggesting no significant insider transactions. The period comparisons available indicate a mixed picture: high-growth in infrastructure materials, distress in infrastructure projects, and stable expansion in retail.
Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →
Filing types in this digest: M&A · Corporate governance · Insider trading
Tracking the trend? Catch up on the prior India Stock Market Daily Regulatory Digest digest from September 20, 2026.
Investment Signals (10)
- Godrej Properties ↓ (BULLISH)▲
Development agreement for ~2.5 acres in Marine Lines, South Mumbai, with ₹6,000 Cr revenue potential. This is a prime, land-constrained micro-market with connectivity via the Coastal Road, signaling strong demand in luxury housing. Company ranks #1 globally in real estate sustainability, adding a quality premium.
- Arisinfra Solutions ↓ (BULLISH)▲
Acquiring 16% stake in Buildmex-Infra (BIPL) for ₹60 Cr. BIPL revenue grew from ₹17.93 Cr (FY24) to ₹70.36 Cr (FY25) to ₹179.03 Cr (FY26) – a 9x growth in two years. This implies a revenue-based valuation of ₹375 Cr for BIPL, making the ₹60 Cr acquisition cost appear reasonable. The subsidiary is in the high-growth infrastructure materials supply chain.
- Shyam Metalics and Energy ↓ (BULLISH)▲
57,900 ESOPs exercised at ₹221 (50% discount to market price on grant date in 2023). Employees exercising indicates confidence in the stock's future, locking in gains while aligning employee interests with shareholders. No options lapsed.
- Patel Retail ↓ (BULLISH)▲
Opened 54th store in Kalyan (East), Thane, expanding MMR footprint. FY26 total income ₹1,059 Cr with EBITDA of ₹83 Cr (7.9% margin) and net profit ₹39 Cr (3.7% margin). Q1FY27 shows growth momentum: revenue ₹310 Cr, net profit ₹9.5 Cr. IPO was in Aug 2025, indicating a recently listed company executing on expansion.
- National Highways Infra Trust ↓ (NEUTRAL TO BULLISH)▲
Net loss reduced to ₹136.64 Cr in Q1 Jun'26 from ₹336.04 Cr in Q4 Mar'26, a 59% reduction in losses. Debt-to-Equity improved from 0.1723x to 0.1598x, and Asset Coverage Ratio improved from 7.64x to 7.83x. The trend is improving despite remaining in the red.
- GHV Infra Projects ↓ (BEARISH)▲
Termination of UAE EPC contract due to war in West Asia and employer's failure to obtain master plan approval. Financial impact not yet assessable, but contract was communicated in Aug 2025, and 13 months of delayed approvals led to suspension. Significant negative catalyst for the company's international revenue pipeline.
- Speciality Restaurants ↓ (BEARISH)▲
Provisional attachment order (PAO) for ₹14.5 Cr by the Directorate of Enforcement. Though the company is not accused, funds are frozen for 180 days. This creates liquidity overhang and reputational risk, especially as the amount was forfeited warrant subscription money from investors under investigation.
- Nureca Limited ↓ (NEUTRAL)▲
Manual promoter disclosure filed because promoter share acquisitions were not appearing on the automated system. While technically a compliance issue, this could indicate either technical glitches or potentially undisclosed transactions, warranting monitoring for any further promoter buying.
- TeamLease Services ↓ (BEARISH)▲
EPFO legal dispute over NEEM trainees continues. Case adjourned to Nov 30, 2026. The EPFO maintains that trainees fall under 'employee' definition under EPF Act. If decided against TLSU, this could have material financial implications for the company's cost structure.
- Bosch Limited ↓ (NEUTRAL)▲
Board meeting scheduled for Nov 6, 2026 for Q2 FY27 results. Trading window closed Oct 1 - Nov 8. This is a prominent large-cap, and its results will be a key indicator for the auto components sector.
Risk Flags (8)
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UAE EPC contract terminated due to war in West Asia and employer default. The employer (Rana Exim FZ-LLC) failed to obtain master plan approval by Jan 31, 2026, and the war starting Feb 2026 created payment risks. The financial impact is unassessable, but the company's international order book is now at risk.
- Speciality Restaurants - Regulatory/Legal Risk↓ [HIGH RISK]▼
Enforcement Directorate attached ₹14.5 Cr in one bank account, even though the company is not accused. The amount relates to forfeited warrant subscription money from investors under investigation. Funds are frozen for 180 days, impacting liquidity. This could signal deeper regulatory scrutiny.
- National Highways Infra Trust - Financial Risk↓ [HIGH RISK]▼
Still reporting losses for Q1 Jun'26 (₹136.64 Cr loss). Total expenses (₹213.71 Cr) far exceed total income (₹77.07 Cr). DSCR and ISCR reported as 'NA' due to negative denominator, indicating inability to service debt from operations.
- TeamLease Services - Regulatory/Legal Risk↓ [MEDIUM RISK]▼
Legal dispute with EPFO over NEEM trainees could, if lost, force the company to pay significant provident fund contributions for trainees, severely impacting its business model which relies on flexible staffing. Next hearing Nov 30, 2026.
- Arisinfra Solutions - Contingent Liability↓ [LOW TO MEDIUM RISK]▼
Providing a ₹20 Cr corporate guarantee for NCDs issued by subsidiary Lionheart Trading. Though standard, this represents a contingent liability. If the subsidiary defaults, Arisinfra will be liable.
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AGM concluded in just 10 minutes, all 6 resolutions passed with majority. While procedurally compliant, the brevity and lack of discussion could signal weak shareholder engagement.
- 35+ Trading Window Closures - Information Asymmetry Risk [INFORMATIONAL RISK]▼
The massive number of trading window closures (38 filings) ahead of Q2 FY27 results creates a period of information blackout across a wide swath of companies. Investors cannot act on potential insider information, but the closures themselves indicate heightened insider awareness of upcoming results.
- ▼
The company had to manually file promoter share acquisitions because they were not appearing on the automated stock exchange platform. This technical glitch could delay or obscure promoter transactions from public view.
Opportunities (7)
- Godrej Properties/Marine Lines Luxury Project↓ (OPPORTUNITY)◆
With ₹6,000 Cr revenue potential from a prime 2.5-acre plot in South Mumbai, this is a blockbuster land deal. South Mumbai luxury market is strong, and the company's track record in premium projects supports high realization. Investors in Godrej Properties can benefit from this high-margin pipeline.
- Arisinfra Solutions/Buildmex-Infra Acquisition↓ (OPPORTUNITY)◆
Buying 16% of BIPL for ₹60 Cr, valuing BIPL at ~₹375 Cr, which is just 2.1x revenue on FY26 revenue of ₹179 Cr. Given the 899% revenue growth over two years, this valuation could prove very cheap if growth continues. The acquisition increases economic interest in a high-growth subsidiary.
- Shyam Metalics/ESOP Exercise↓ (OPPORTUNITY)◆
57,900 shares to be allotted at ₹221, which was a 50% discount to market price 3 years ago. Employees chose to exercise, suggesting they believe the current market price is higher. This signals employee confidence, which often precedes strong corporate performance.
- Patel Retail/Expansion in MMR↓ (OPPORTUNITY)◆
Opening the 54th store in Kalyan East, Thane, expanding in the Mumbai Metropolitan Region. The company just IPO'd in Aug 2025, and Q1FY27 showed revenue of ₹310 Cr (annualized ~₹1,240 Cr, up from ₹1,059 Cr in FY26). Growth momentum is visible, and the retail chain is capitalizing on MMR's growing consumption.
- National Highways Infra Trust/Turnaround Play↓ (TURNAROUND OPPORTUNITY)◆
Losses reduced 59% QoQ, debt-to-equity improved, and asset coverage ratio strengthening. If losses continue narrowing, the trust could approach breakeven in coming quarters. The improved coverage ratios also suggest listed debt securities are becoming safer, potentially re-rating.
- Godrej Properties/Sustainability Leadership↓ (OPPORTUNITY)◆
Ranked #1 globally in real estate on Dow Jones Sustainability Index and GRESB as of Dec 2025. This ESG leadership can attract institutional inflows, especially from ESG-focused funds, creating a structural demand for the stock.
- Bosch Limited/Upcoming Earnings Catalyst↓ (EVENT-DRIVEN OPPORTUNITY)◆
Board meeting for Q2 FY27 results on Nov 6, 2026. As a large-cap auto components player, its results will be a key bellwether for the sector. The trading window closure from Oct 1 suggests the market will focus on fundamentals post-announcement.
Sector Themes (5)
- Infrastructure & Real Estate - Domestic vs. International Divergence◆
Godrej Properties (domestic luxury) signs a ~₹6,000 Cr project, while GHV Infra (international EPC) terminates a contract due to war. This stark contrast highlights that domestic Indian real estate/infrastructure is booming, but international projects face geopolitical hurdles. Investors should prefer companies with strong domestic execution. [INFERENCE: Favor domestic over international infrastructure exposure]
- Infrastructure Materials - Explosive Growth◆
Buildmex-Infra (subsidiary of Arisinfra) grew revenue from ₹17.93 Cr (FY24) to ₹179.03 Cr (FY26), a 9x increase in 2 years. This reflects the massive demand for raw materials in India's infrastructure boom. Companies in this supply chain are likely to see continued strong growth. [INFERENCE: Infrastructure material suppliers are in a golden phase]
- Earnings Pre-Season Signals◆
38 companies announced trading window closures starting October 1, 2026, ahead of Q2 FY27 results. This is the largest batch of filings, indicating the upcoming earnings season will be information-dense. Key small/mid-cap names to watch include Fine Organic, Geojit Financial, Kabra Extrusion, Bosch, and Rossell India. [INFERENCE: Market-wide earnings season starting mid-October]
- Legal & Regulatory Risks in Staffing/Education◆
TeamLease Services' ongoing EPFO dispute over NEEM trainees is a sector-wide issue for the staffing industry. If EPFO prevails, the entire flexible staffing model could face higher costs. This is a regulatory headwind for the staffing and skill development sectors. [INFERENCE: Staffing sector faces regulatory overhang]
- Retail Expansion in MMR◆
Patel Retail opening its 54th store in Kalyan East shows continued retail expansion in the Mumbai Metropolitan Region. With strong financials (₹1,059 Cr revenue, 7.9% EBITDA margin), this indicates organized retail is gaining share in the region. Recently IPO'd companies like Patel Retail are in an aggressive expansion phase. [INFERENCE: Organized retail in MMR is in a growth phase]
Watch List (8)
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Monitor for any financial impact disclosure and future international contract pipeline. The termination raises questions about the company's ability to execute overseas. Next updates from management critical.
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Monitor the 180-day attachment period and any further investigation outcomes. If the ED expands the investigation or if the company is implicated, this could be severely negative. Watch for any operations impact from frozen ₹14.5 Cr.
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Track the next quarter's results to see if the loss reduction trend continues. If losses narrow further, it could signal a turnaround. Also monitor DSCR metric, currently 'NA'.
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Next hearing on November 30, 2026. The outcome could set a precedent for the entire staffing industry regarding NEEM trainees. A loss could materially impact TLSU's cost structure.
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The acquisition of 16% stake in Buildmex-Infra is expected to close by Sept 30, 2026. Monitor BIPL's revenue growth trajectory and any further acquisitions.
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The manual disclosure of promoter Saurabh Goyal's share acquisitions could signal increased promoter confidence. Watch for subsequent disclosures on the automated platform for transaction details and volumes.
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Board meeting on Nov 6, 2026. As a market leader, its results will provide key insights into the auto components sector's health, demand trends, and margin trajectory.
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Monitor launch timelines and pre-sales for the Marine Lines luxury project. Revenue potential of ₹6,000 Cr is massive, but execution is key. Watch for further land acquisitions in South Mumbai.
Filing Analyses
(50)
27-09-2026
GHV Infra Projects Limited has concluded its EPC contract for the Erisha Smart Manufacturing Hub in RAKEZ, Ras Al Khaimah, UAE, as of the second week of September 2026. The termination follows a 13-month delay in master plan approval by the employer, Rana Exim FZ-LLC, and the onset of war in West Asia in February 2026, which created payment and commercial risks. The company has suspended all project activities due to the employer's material default in providing financial arrangements, and the financial impact cannot be assessed at this time.
- · The contract was originally communicated on August 02, 2025.
- · The employer was required to obtain project and master plan approval from RAKEZ by January 31, 2026, but failed to do so.
- · War in West Asia started in end-February 2026 and is still ongoing, creating payment and commercial risks.
- · GHV issued a notice of suspension of works on August 17, 2026, citing material default by the employer.
- · The financial impact of the contract conclusion cannot be quantified as of now; further disclosure will be made when possible.
28-09-2026
Speciality Restaurants Limited disclosed that a provisional attachment order (PAO) has been issued by the Directorate of Enforcement regarding INR 145,009,700 (approximately 14.50 Cr) held in one of its bank accounts. The company clarified that it is not named as an accused in the underlying investigation and that the amount represents forfeited warrant subscription money. The PAO is limited to that specific amount and does not affect other company assets or operations, though the funds are restricted for 180 days.
- · The PAO pertains to an investigation concerning certain investors/warrant allottees and funds received from them.
- · The attached amount was forfeited by the company because allottees failed to pay the remaining 75% within the 18-month conversion period.
- · The attachment does not cover any other assets of the company.
- · The company has provided a statement to the Enforcement Directorate and has undertaken to keep the said amount available.
- · The company continues to cooperate with the Directorate of Enforcement and will pursue legal remedies.
- · The company's registered office is at ‘Uniworth House’ 3A, Gurusaday Road, Kolkata – 700019.
28-09-2026
Godrej Properties announced a development agreement for a prime ~2.5-acre land parcel in Marine Lines, South Mumbai, with an estimated revenue potential of ~INR 6000 crore. The luxury housing project leverages strong demand in the micro-market, supported by the company's successful premium projects in South and Central Mumbai. Management expressed confidence in the long-term attractiveness of well-located luxury homes, though no financial details on investment or timeline were disclosed.
- · The project is planned as a luxury housing development in Marine Lines, South Mumbai.
- · Marine Lines is noted for limited land availability, heritage, and connectivity via the Coastal Road.
- · Godrej Properties is ranked number one real estate company worldwide on Dow Jones Best-in-Class Sustainability Indices and Global Real Estate Sustainability Benchmark as of December 2025.
- · The company is India's largest residential developer by value and volume of homes sold.
- · The estimated revenue potential is based on current business assumptions.
28-09-2026
Shyam Metalics and Energy Limited announced that 57,900 stock options under the SMEL Loyalty ESOP Scheme (ESOP II - 2023) were exercised by eligible employees on September 27, 2026, upon completion of the third-year vesting. The exercise realized ₹1,27,95,900 (Rupees One Crore Twenty Seven Lakh Ninety Five Thousand Nine Hundred Only), with 57,900 equity shares of face value ₹10 each to be allotted. No options lapsed and there was no variation in terms.
- · Options granted at ₹221 per option, representing a 50% discount to the market price on September 26, 2023.
- · Total options granted under the scheme: 2,16,000 to 5 eligible employees.
- · Vesting schedule: 40% on first anniversary, 30% on second anniversary, 30% on third anniversary.
- · Exercise price per option is ₹221; 1 option equals 1 equity share of face value ₹10.
- · The ESOP Trust purchases shares from the secondary market to facilitate exercise.
- · No lock-in on shares allotted pursuant to exercise.
- · Options must be exercised within 6 months from commencement of vesting period.
- · No options lapsed and no variation in terms of options.
28-09-2026
Patel Retail Limited announced the opening of its 54th retail store in Kalyan (East), Thane, expanding its footprint in the Mumbai Metropolitan Region. The company reported strong FY26 financials with Total Income of ₹1,059.29 crore, EBITDA of ₹83.08 crore, and Net Profit of ₹39.05 crore, and continued growth in Q1FY27 with Total Income of ₹310.24 crore, EBITDA of ₹19.68 crore, and Net Profit of ₹9.52 crore. While the expansion and financials are positive, the filing provides no comparative prior-period data, so growth rates cannot be assessed.
- · Store location: Village Dvrali Malangad Road, Kalyan (East), Thane
- · Company operates in Thane, Raigad and Palghar districts
- · IPO completed in August 2025, listed on BSE and NSE on August 26, 2025
- · In-house brands: Indian Chaska (spices), Patel Fresh (pulses, nuts, dry fruits), Patel Essential (household products)
- · Food processing units in Dudhai, Gujarat and Ambarnath MIDC
- · Mobile app offers free home delivery
28-09-2026
Saptak Chem and Business Limited has announced the closure of its trading window for dealing in its securities, effective from October 1, 2026, until 48 hours after the declaration of its Unaudited Financial Results for the quarter ended September 30, 2026. This routine compliance disclosure is made under SEBI's Prohibition of Insider Trading Regulations, 2015, and applies to promoters, directors, KMPs, and other designated persons. No financial or operational performance data was provided in this filing.
- · Trading window closure period: October 1, 2026, until 48 hours after the declaration of Unaudited Financial Results for the quarter ended September 30, 2026.
- · The date of the Board Meeting for publishing the Unaudited Financial Results will be announced in due course.
- · The company's registered office is located at 102/B, Ashwalekha Complex, Nr Desai Park, Vejalpur Road, Ahmedabad - 380051.
- · The company's CIN is L24299GJ1980PLC101976 and the scrip code on BSE is 506906.
28-09-2026
Lime Chemicals Ltd. has announced the closure of its trading window from October 1, 2026, until 48 hours after the declaration of its unaudited financial results for the quarter ending September 30, 2026. This is a routine procedural disclosure under the company's insider trading code and does not contain any financial or operational data.
- · Trading window closure effective from October 1, 2026.
- · Window reopens 48 hours after the declaration of Q3 FY26 (quarter ending September 30, 2026) unaudited results.
- · Date of the board meeting for results consideration will be intimated separately.
28-09-2026
Sejal Glass Limited has announced the closure of its trading window for designated persons from October 1, 2026, ahead of the approval of unaudited financial results for the quarter and half year ending September 30, 2026. The window will reopen 48 hours after the results are disseminated to stock exchanges. This is a routine compliance disclosure under SEBI insider trading regulations.
- · Trading window closure effective from October 1, 2026
- · Trading window reopens 48 hours after results dissemination
- · Results pertain to quarter and half year ending September 30, 2026
- · Board meeting date for results to be intimated separately
28-09-2026
Mayur Uniquoters Ltd has announced a trading window closure from October 1, 2026, until 48 hours after the declaration of its unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. This is a routine regulatory compliance measure under SEBI's insider trading regulations, with no financial impact.
- · Trading window closure effective from October 1, 2026.
- · Closure applies to Directors, Key Managerial Personnel, Promoters, Designated Persons/employees, and their immediate relatives.
- · The board meeting date for approving the financial results will be announced later.
28-09-2026
ANS Industries Ltd. has informed BSE that its trading window for designated persons and their immediate relatives will remain closed from October 1, 2026 until 48 hours after the declaration of unaudited financial results for the quarter and half year ended September 30, 2026. The company has also confirmed compliance with SEBI circular regarding freezing PAN at security level for designated persons. The date of the board meeting to consider the results will be intimated later.
- · Trading window closure starts October 1, 2026 and ends 48 hours after declaration of Q2 FY27 results.
- · Compliance with SEBI circular SEBI/HO/ISD/ISD-PoD-2/P/CIR/2023/124 dated July 19, 2023 confirmed.
- · Board meeting date for results will be announced separately.
28-09-2026
Indosolar Ltd has informed the stock exchanges that its trading window will be closed from October 1, 2026, until 48 hours after the declaration of its standalone unaudited financial results for the quarter and half year ending September 30, 2026. This is a routine compliance disclosure under SEBI's insider trading regulations and does not contain any financial or operational data.
- · Trading window closure starts October 1, 2026.
- · Closure ends 48 hours after declaration of Q2/H1 FY27 results.
- · Board meeting date for approving results will be announced later.
28-09-2026
Saumya Consultants Ltd. held its 33rd Annual General Meeting on September 24, 2026, where shareholders adopted the audited standalone financial statements for the year ended March 31, 2026, and approved the appointment of M/s ALPS & Co as statutory auditors. The meeting also saw the re-appointment of Mr. Sandeep Kumar Pareek as a director. All resolutions were passed via ballot, with voting results to be published on the company and exchange websites.
- · The AGM was held at the registered office in Kolkata, starting at 12:30 PM and concluding at 1:30 PM.
- · E-voting was open from September 21, 2026 (10:00 AM) to September 23, 2026 (5:00 PM) via CDSL.
- · Mr. Sandeep Kumar Pareek, a B.Com graduate with over 29 years of experience in investment and finance, was re-appointed as a director.
- · Mr. Pareek holds directorships in Swagtam Distributors Private Limited and Vidyut Dealers Private Limited, and holds no shares in the company.
- · The company's financial year ended March 31, 2026, with the audited standalone balance sheet and profit and loss statement adopted.
- · The scrutinizer's report and voting results are to be displayed on the company's website and forwarded to CDSL and stock exchanges.
28-09-2026
Mirza International Limited has announced that its trading window will be closed from October 1, 2026, until 48 hours after the declaration of its unaudited financial results for the quarter and half year ended September 30, 2026. This routine closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations. The notice does not contain any financial data or business performance updates.
- · Trading window closure period: October 1, 2026 until 48 hours after unaudited results for Q2/H1 FY27 become available.
- · Applies to all Designated Persons including directors, designated employees, and their immediate relatives.
28-09-2026
Arisinfra Solutions Limited's Board approved the acquisition of 16,000 equity shares (16% stake) in Buildmex-Infra Private Limited (BIPL) from existing shareholder Mr. Balavignesh Subramani for a cash consideration of INR 60 crore, with completion expected by September 30, 2026. Additionally, the Company will provide a corporate guarantee of ₹20 Crore for NCDs to be issued by its wholly owned subsidiary Lionheart Trading Private Limited, which will be a contingent liability. The acquisition aims to increase the Company's ownership and economic interest in BIPL, while the guarantee is provided on an arm's length basis with no promoter interest.
- · BIPL turnover: 2023-24: Rs 17.93 crore; 2024-25: Rs 70.36 crore; 2025-26: Rs 179.03 crore
- · BIPL incorporated on July 26, 2021, engaged in trading, procuring, supplying, distributing raw materials for infrastructure and construction
- · Acquisition is not a related party transaction as Mr. Balavignesh Subramani is not a related party
- · Corporate guarantee is a contingent liability for the Company, with no current impact on the Company's financials
- · Board meeting held on September 28, 2026, commenced at 10:48 A.M. and concluded at 11:05 A.M.
28-09-2026
Aditya Birla Renewables Limited has informed BSE that its trading window for dealing in debentures will remain closed for all designated persons starting October 1, 2026, in connection with the declaration of unaudited financial results for the quarter ending September 30, 2026. The window will reopen 48 hours after the results are declared.
- · Trading window closure effective from October 1, 2026
- · Window opens 48 hours after declaration of unaudited financial results for quarter ending September 30, 2026
- · Company's scrip code: 976038 (86ABRL27)
- · ISIN: INE01QP08016
28-09-2026
Shankara Building Products Limited has informed the stock exchanges that its trading window for dealing in company securities will remain closed for directors, promoters, designated employees, and connected persons from October 1, 2026, until 48 hours after the declaration of unaudited financial results for the quarter and half year ending September 30, 2026. This is a routine compliance disclosure under SEBI (Prohibition of Insider Trading) Regulations, 2015, and contains no financial or operational data.
- · Trading window closure starts Thursday, October 1, 2026.
- · Closure ends 48 hours after declaration of unaudited financial results for Q2 and H1 ending September 30, 2026.
- · Applies to directors, promoters, designated employees, and connected persons.
28-09-2026
Hemang Resources Limited has announced the closure of its trading window for designated persons and their immediate relatives from October 1, 2026, until 48 hours after the declaration of unaudited financial results for the quarter and half year ended September 30, 2026. The trading window closure is a routine compliance measure under SEBI (Prohibition of Insider Trading) Regulations, 2015. The date of the board meeting to consider the financial results will be informed separately.
- · Trading window closure effective from October 1, 2026
- · Closure period ends 48 hours after declaration of unaudited financial results for Q2 and H1 FY27
- · Financial results pertain to quarter and half year ended September 30, 2026
- · Board meeting date for results will be announced separately
28-09-2026
Sree Rayalaseema Hi-Strength Hypo Limited announced the completion of tenure of Sri A Kailashnath (DIN:03017003) as an Independent Director, effective from 28th September 2026, following the end of his second and final term on 27th September 2026. The Board expressed appreciation for his contributions. No financial metrics or operational changes were disclosed in this filing.
- · Sri A Kailashnath's second and final term as Independent Director ended on 27th September 2026, with cessation effective 28th September 2026.
- · The disclosure was made under Regulation 30 of SEBI LODR Regulations, with details annexed as per SEBI Master Circular dated November 11, 2024.
- · No appointment or re-appointment was made; the annexure indicates 'Not Applicable' for profile and relationship disclosures.
28-09-2026
Gyan Developers & Builders Ltd. has announced the closure of its trading window from October 1, 2026, until 48 hours after the declaration of its unaudited financial results for the quarter and half-year ending September 30, 2026. This is a routine regulatory disclosure under SEBI insider trading regulations, with no financial figures or performance data provided.
- · Trading window closure starts Thursday, October 1, 2026.
- · Closure ends 48 hours after declaration of Q2 and H1 FY27 results.
- · Board meeting date for results approval to be announced separately.
28-09-2026
TeamLease Services Limited has provided an update on the ongoing legal proceedings before the Hon'ble High Court of Gujarat regarding an appeal filed by TeamLease Skills University (TLSU) against an EPFO order. The matter, listed for hearing on September 22, 2026, remained at the notice stage, and the court received the reply from the respondents, adjourning the matter to November 30, 2026. The EPFO has reiterated its position that NEEM trainees are covered under the definition of 'employee' under the EPF Act, but TLSU strongly disagrees and continues to pursue legal remedies. The matter remains sub judice, and no financial impact has been disclosed.
- · The matter is listed for the next hearing on November 30, 2026.
- · An affidavit-in-reply has been filed by the Regional Provident Fund Commissioner-I, EPFO, Vadodara, on behalf of Respondent Nos. 4 and 5 in Special Civil Application No. 7698 of 2026.
- · The EPFO order dated March 11, 2026, is being challenged by TLSU.
- · The disclosure was filed on Monday due to receipt of intimation on Friday evening and non-working days in between.
28-09-2026
Raw Edge Industrial Solutions Limited has informed BSE that its trading window for insiders will be closed from October 1, 2026 until 48 hours after the announcement of unaudited financial results for the quarter and nine months ended September 30, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. The date of the Board Meeting to consider these results will be communicated separately. This is a routine procedural disclosure with no financial figures or performance data.
- · Trading window closure period: October 1, 2026 until 48 hours after announcement of Q3 & 9M FY27 results.
- · The date of the Board Meeting for the results will be communicated later.
- · Closure applies to all directors, officers, designated employees, and their immediate relatives.
28-09-2026
InCred Financial Services Limited has informed BSE that its trading window for dealing in Non-Convertible Securities will be closed from October 1, 2026, until 48 hours after the declaration of financial results for the quarter ending September 30, 2026. The date of the board meeting to consider the results will be announced later. This is a routine procedural disclosure with no financial impact.
- · Trading window closure period: October 1, 2026, until 48 hours after declaration of Q2 FY27 results.
- · The board meeting date for approving the financial results has not yet been fixed.
28-09-2026
Rossell India Ltd. has informed the stock exchanges that its trading window will be closed from October 1, 2026, until 48 hours after the declaration of its unaudited financial results for the quarter and half year ended September 30, 2026. This closure applies to all directors, officers, designated persons, and their immediate relatives, in compliance with SEBI insider trading regulations.
- · Trading window closure starts 1st October, 2026.
- · Closure ends 48 hours after declaration of unaudited financial results for Q2 and half year ending 30th September, 2026.
- · Applies to directors, officers, designated persons, and their immediate relatives.
28-09-2026
HLV Limited has informed stock exchanges that its trading window for designated persons will be closed from October 1, 2026, until 48 hours after the declaration of its unaudited financial results for Q2 and half-year ended September 30, 2026, in compliance with SEBI insider trading regulations. This is a routine procedural disclosure with no financial or operational impact.
28-09-2026
Arisinfra Solutions Limited's Board approved the acquisition of 16,000 equity shares (16% stake) in its material subsidiary Buildmex-Infra Private Limited (BIPL) from existing shareholder Mr. Balavignesh Subramani for a cash consideration of INR 60 crore, expected to complete by September 30, 2026. Additionally, the company will provide a corporate guarantee of ₹20 Crore for NCDs to be issued by its wholly owned subsidiary Lionheart Trading Private Limited (LTPL) in favor of Texterity Private Limited. The acquisition is not a related party transaction, and the guarantee is a contingent liability with no current impact on the company.
- · BIPL turnover: FY2023-24: Rs 17.93 crore; FY2024-25: Rs 70.36 crore; FY2025-26: Rs 179.03 crore (significant growth trajectory).
- · BIPL incorporated on July 26, 2021, engaged in trading, procuring, supplying, distributing raw materials for infrastructure and construction.
- · Acquisition is not a related party transaction; no promoter/group interest involved.
- · Corporate guarantee is a contingent liability for the company, provided on an arm's length basis.
- · Board meeting commenced at 10:48 A.M. and concluded at 11:05 A.M. on September 28, 2026.
28-09-2026
TRIDEV INFRAESTATES LIMITED (formerly Ashutosh Paper Mills Limited) held its 38th Annual General Meeting on 28th September 2026 at 11:00 AM at its registered office in Delhi. The meeting considered five resolutions, including adoption of audited financial statements for FY ended 31st March 2026, re-appointment of directors, and approval for related party transactions. While the resolution on financial statements was passed as an ordinary resolution, results for the other four resolutions, including re-appointments and related party transactions, are awaited from the Scrutinizer.
- · The AGM was held at the registered office: S-524, F/F, School Block, Vikas Marg, Shakarpur, Delhi-110092.
- · The meeting concluded at 4:30 PM (16:30 hours).
- · The resolution to adopt audited financial statements for FY ended 31st March 2026 was passed as an ordinary resolution.
- · Results for re-appointment of directors (Ishu Agarwal, Rajeev Garg, Rajesh Kumar Vaid) and related party transactions are pending from the Scrutinizer.
- · The company's CIN is L65100DL1988PLC033812; scrip code 531568; ISIN INE723K01018.
28-09-2026
Manika Plastech Ltd has informed the stock exchanges that its trading window will be closed from October 1, 2026, for all connected persons under the SEBI PIT Regulations, ahead of the declaration of unaudited financial results for the quarter and half year ended September 30, 2026. The window will reopen 48 hours after the results announcement. The date of the board meeting for the results will be intimated separately.
- · Trading window closure starts October 01, 2026.
- · Trading window will open 48 hours after the unaudited financial results for the quarter and half year ended September 30, 2026 are announced.
- · The board meeting date for the results will be intimated separately.
28-09-2026
National Highways Authority of India (NHAI) reported its unaudited financial results for the quarter ended June 30, 2026. Total income for the quarter was Rs. 77,069.31 lakh, a decline from Rs. 81,456.99 lakh in the previous quarter (March 31, 2026), while total expenditure increased significantly to Rs. 2,13,708.69 lakh from Rs. 1,28,784.74 lakh, resulting in a net loss of Rs. 1,36,639.58 lakh for the quarter. The filing also includes a security cover certificate confirming the book value of assets pledged against listed debt securities and compliance with financial covenants.
- · The Debt Service Coverage Ratio and Interest Service Coverage Ratio are reported as 'NA' due to the denominator being negative.
- · The Debt to Equity Ratio improved to 0.1598 times in Q1 June 2026 from 0.1723 times in the previous quarter.
- · The Asset Coverage Ratio for secured NCDs improved to 7.8260 times from 7.6394 times in the previous quarter.
- · The auditor's certificate notes that while the authority has fully repaid the loan against exclusive charges, the satisfaction of charge is still in process.
- · The financial statements are prepared in a format prescribed by the Comptroller and Auditor General (C&AG) in 1992, and depreciation is charged on an annual basis, not quarterly.
28-09-2026
Kabra Extrusion Technik Limited has informed the exchanges that its trading window for designated persons will be closed from October 1, 2026 until 48 hours after the declaration of unaudited financial results for the quarter and half year ended September 30, 2026. This is a routine procedural disclosure under SEBI insider trading regulations and contains no financial results or operational data.
28-09-2026
Birla Transasia Carpets Ltd held its 51st Annual General Meeting on September 28, 2026 via video conferencing, lasting only 10 minutes. All six agenda items—including adoption of FY2026 financial statements, re-appointment of Executive Director Arun Kumar Singhi, appointment of statutory auditor M/s C P C & Company for 5 years, secretarial auditor Ankit Mazumdar for 5 years, and appointment of two independent directors (Manish Bhargan Rane and Madhura Ganesh Mahendrakar) for 2 years each—were approved by shareholders with requisite majority through remote e-voting and e-voting during the AGM. The filing contains no financial performance data, so no period-over-period comparisons or quantitative metrics are available.
- · AGM was conducted via Video Conferencing / Other Audio Visual Means.
- · All six agenda items were approved with requisite majority by remote e-voting and e-voting during the AGM.
- · Statutory auditor M/s C P C & Company appointed for 5 years.
- · Secretarial auditor Ankit Mazumdar appointed for 5 years.
- · Two independent directors appointed for 2-year terms: Manish Bhargan Rane and Madhura Ganesh Mahendrakar.
- · The results of e-voting will be uploaded on the company's website and notified to stock exchanges separately.
28-09-2026
Arisinfra Solutions Limited's board approved two key proposals on September 28, 2026: acquiring 16% equity (16,000 shares) in material subsidiary Buildmex-Infra Private Limited (BIPL) for INR 60 crore cash, and providing a corporate guarantee of ₹20 Crore for NCDs issued by wholly owned subsidiary Lionheart Trading Private Limited (LTPL). The acquisition aims to increase ownership and economic interest in BIPL, which has shown strong revenue growth from Rs 17.93 crore in FY24 to Rs 179.03 crore in FY26. However, the corporate guarantee represents a contingent liability for the company, though management states no immediate impact.
- · Board meeting duration: 10:48 AM to 11:05 AM on September 28, 2026
- · Acquisition expected to close on or before September 30, 2026
- · The acquisition is not a related party transaction; seller Mr. Balavignesh Subramani is not a related party
- · BIPL incorporated on July 26, 2021, engaged in infrastructure and construction materials trading and supply
- · Corporate guarantee is a contingent liability; provided on arm's length basis to a wholly owned material subsidiary
28-09-2026
Fine Organic Industries Limited has announced a closure of its trading window from October 1, 2026 until the declaration of unaudited financial results for the quarter and half year ending September 30, 2026 (plus 48 hours thereafter). During this period, directors, promoters, designated persons, and connected persons are prohibited from dealing in the company's equity shares. The date of the board meeting to consider the results will be intimated later.
- · Trading window closure starts October 1, 2026.
- · Closure ends after declaration of unaudited Q2 & H1 FY27 results plus 48 hours.
- · Board meeting date for results will be announced separately.
28-09-2026
Gujarat Kidney and Super Speciality Ltd held its 7th Annual General Meeting on September 28, 2026, where all 12 resolutions were passed via poll and remote e-voting, including adoption of FY2025-26 financials, appointment of two new Independent Directors, and approval of related party transactions. The meeting was attended by the Chairman, Managing Director, Wholetime Director, Independent Directors, and key managerial personnel. No financial results or performance metrics were disclosed in this filing.
- · AGM notice dated August 24, 2026; meeting held at the Registered office.
- · Resolutions included revision in remuneration of Managing Director and Wholetime Director.
- · Approval sought under Sections 180(1)(c), 180(1)(a), 186, 185, and related party transactions of the Companies Act, 2013.
- · Annual Report for FY 2025-26 sent electronically and available on company website, BSE, and NSE.
- · Voting results filed separately.
28-09-2026
Nureca Limited filed a manual disclosure under SEBI PIT Regulations 7(2) on September 28, 2026, because certain share acquisitions by promoter Mr. Saurabh Goyal were not appearing on the stock exchange platform under the automatic/system-driven disclosure mechanism. The company submitted the disclosures manually as an abundant precaution. No financial figures or transaction details were provided in the filing.
- · Filing date: September 28, 2026
- · Scrip code: 543264 (BSE), NURECA (NSE)
- · Disclosure made under Regulation 7(2) of SEBI PIT Regulations, 2015
- · Manual submission due to transactions not appearing on exchange platform under automatic/system-driven disclosure mechanism
- · Company Secretary: Nishu Kansal, M. No.: A33372
- · Registered office: Andheri West, Mumbai; Correspondence office: Chandigarh
28-09-2026
India Nivesh Limited has informed BSE that its trading window will be closed from October 1, 2026, until 48 hours after the declaration of its unaudited financial results for Q2 and H1 ended September 30, 2026, in compliance with SEBI's insider trading regulations. The company will announce the board meeting date for approving the results separately. No financial figures or performance data are disclosed in this filing.
- · Trading window closure period: from October 1, 2026, until 48 hours after Q2/H1 FY27 results declaration.
- · Board meeting date for results approval will be intimated separately.
- · Filing made under SEBI (Prohibition of Insider Trading) Regulations, 2015.
28-09-2026
Borana Weaves Limited has informed the stock exchanges that the trading window for dealing in its securities will remain closed for all Directors, KMPs, Designated Persons, and Insiders from October 1, 2026, until 48 hours after the declaration of the Unaudited Financial Results for the quarter and six months ending September 30, 2026. The date of the Board Meeting to consider these results will be announced later. This is a routine regulatory disclosure under SEBI (Prohibition of Insider Trading) Regulations, 2015, and contains no financial data or performance metrics.
- · Trading window closure starts October 1, 2026, and ends 48 hours after the declaration of Unaudited Financial Results for the quarter and six months ending September 30, 2026.
- · The Board Meeting date for considering the results will be intimated in due course.
- · The disclosure is made pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended.
28-09-2026
Akme Fintrade (India) Limited has announced the closure of its trading window from October 1, 2026, until 48 hours after the dissemination of its unaudited financial results for the quarter and half year ended September 30, 2026, in compliance with SEBI PIT Regulations. The company has advised all designated persons and their immediate relatives not to trade in its securities during this period. The date of the board meeting for the financial results will be communicated later.
- · Trading window closure starts Thursday, October 01, 2026
- · Closure ends 48 hours after dissemination of unaudited financial results for quarter and half year ended September 30, 2026
- · Board meeting date for financial results to be announced later
- · Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015
28-09-2026
Bhatia Communications & Retail (India) Limited has announced the closure of its trading window for all insiders from October 01, 2026 until 48 hours after the announcement of its unaudited financial results for the quarter and nine months ended September 30, 2026. The date of the board meeting to consider these results will be intimated later. This is a routine compliance disclosure under SEBI (Prohibition of Insider Trading) Regulations, 2015.
- · Trading window closure period: October 01, 2026 until 48 hours after announcement of Q2 & H1 FY27 results.
- · Financial results covered: quarter and nine months ended September 30, 2026.
- · Applicable to directors, officers, designated persons, and their immediate relatives.
- · Board meeting date for results to be announced later.
- · Company CIN: L32109GJ2008PLC053336; ISIN: INE341Z01025; Scrip code: 540956.
28-09-2026
Annu Projects Ltd has informed the stock exchanges that its trading window for insiders will be closed from October 1, 2026, until 48 hours after the announcement of its unaudited financial results for the quarter and half year ended September 30, 2026. This is a routine procedural disclosure under SEBI's insider trading regulations and contains no financial or operational data.
28-09-2026
Central Mine Planning & Design Institute Ltd (CMPDIL) has announced a trading window closure from October 1, 2026, until 48 hours after the declaration of its standalone unaudited financial results for the quarter ending September 30, 2026, in compliance with SEBI insider trading regulations. The date of the board meeting to approve the results will be communicated later. This is a routine procedural disclosure with no financial figures or performance data.
- · Trading window closure period: Oct 01, 2026 until 48 hours after declaration of Q2 FY27 standalone unaudited results.
- · Board meeting date for results approval to be announced later.
- · ISIN: INE05HV01027 (NSE), Ref no- 544739 (BSE).
28-09-2026
GKB Ophthalmics Ltd. has informed BSE that its trading window will be closed from October 1, 2026 until 48 hours after the declaration of financial results for the quarter ended September 30, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. Promoters, directors, designated persons, and their immediate relatives are prohibited from trading during this period. The date of the board meeting to consider the results will be announced later.
- · Trading window closure period: October 1, 2026 until 48 hours after Q3 FY27 (quarter ending September 30, 2026) financial results declaration.
- · Applicable to promoters, directors, designated persons, and their immediate relatives.
- · Board meeting date for results consideration to be intimated separately.
28-09-2026
Geojit Financial Services Limited has informed the stock exchanges that its trading window will be closed from October 1, 2026, until 48 hours after the announcement of its unaudited financial results for the quarter ending September 30, 2026. This closure applies to directors, promoters, designated employees, and their immediate relatives, in compliance with SEBI's insider trading regulations. This is a routine compliance disclosure and does not contain any financial or operational data.
- · Trading window closure starts Thursday, 01 October 2026.
- · Closure ends 48 hours after the announcement of Q2 FY27 results to stock exchanges.
- · Applicable to Directors, Promoters, Designated Employees, and their immediate relatives.
28-09-2026
Vaxfab Enterprises Limited has informed the stock exchanges that its trading window will be closed from October 1, 2026, until 48 hours after the declaration of its unaudited financial results for the quarter ending September 30, 2026. This closure applies to all designated persons, including directors and promoters, and their relatives, in compliance with SEBI's insider trading regulations.
- · The trading window closure is effective from October 1, 2026.
- · The closure will remain in place until 48 hours after the declaration of the unaudited financial results for the quarter ended September 30, 2026.
- · The company's stock is listed on BSE (Security ID: VEL / Code: 542803) and Calcutta Stock Exchange (Script Code: 015064).
28-09-2026
Bosch Limited has informed the exchanges that its Board of Directors will meet on November 6, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and half year ending September 30, 2026. The trading window will be closed from October 1, 2026, to November 8, 2026, in compliance with insider trading regulations. This is a routine procedural filing with no financial results or performance data disclosed.
- · Board meeting scheduled for November 6, 2026
- · Trading window closure: October 1, 2026 to November 8, 2026 (both days inclusive)
- · Agenda: Unaudited standalone and consolidated financial results for Q2 and H1 FY27 (period ending September 30, 2026)
28-09-2026
Humming Bird Education Limited has informed BSE that its trading window for designated persons will be closed from October 1, 2026 until 48 hours after the announcement of financial results for the half year ending September 30, 2026. This is a routine compliance disclosure under the company's insider trading code and does not contain any financial or operational data.
- · Trading window closure starts October 1, 2026 and ends 48 hours after half-year financial results announcement for period ending September 30, 2026.
- · Closure applies to 'Designated Persons' as per the company's Code of Conduct for Prevention of Insider Trading.
- · Company scrip code: 542592, CIN: L80221DL2010PLC207436.
28-09-2026
EAST WEST FREIGHT CARRIERS LTD has announced a trading window closure for insiders, effective 1st October 2026, until 48 hours after the declaration of its Q2 FY27 (quarter ended 30th September 2026) financial results. The move is a routine compliance disclosure under SEBI (Prohibition of Insider Trading) Regulations, 2015, with no financial impact or operational changes disclosed.
- · Trading window closure applies to Promoters, Directors, KMP, Designated Persons and their immediate relatives.
- · Trading window reopens 48 hours after the announcement/declaration of financial results for the quarter ended 30th September 2026.
- · Board meeting date for the financial results will be intimated separately.
- · Disclosure made to BSE Limited (Scrip Code: 540006) and The Calcutta Stock Exchange Limited (Scrip Code: 028105).
28-09-2026
Panjon Limited has announced the closure of its trading window for designated persons from October 1, 2026, until 48 hours after the announcement of its unaudited financial results for the quarter ending September 30, 2026. The board meeting to approve these results is scheduled on or before November 14, 2026. This is a routine regulatory disclosure with no financial impact.
- · Trading window closure period: October 1, 2026 to 48 hours after Q2 FY27 results announcement
- · Board meeting for Q2 FY27 results to be held on or before November 14, 2026
- · Closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015
28-09-2026
Hindustan Tin Works Ltd. has informed the BSE that its trading window will be closed from October 1, 2026, until 48 hours after the declaration of the Unaudited Financial Results for the second quarter ended September 30, 2026, in accordance with its insider trading code. This is a routine regulatory disclosure with no financial or operational impact.
- · Trading window closure starts October 1, 2026
- · Trading window reopens 48 hours after Q2 FY27 unaudited results declaration
- · Company CIN: L27109DL1958PLC003006
- · Registered office: 426, DLF Tower-A, Jasola, New Delhi - 110025
28-09-2026
Kriti Industries (India) Limited announced a trading window closure from 1st October 2026 until 48 hours after the declaration of its Unaudited Standalone & Consolidated Financial Results for the quarter and half year ended 30th September 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. The closure applies to all promoters, directors, KMPs, designated persons, connected persons, and their relatives, with PANs to be frozen by NSDL during the period. The date of the Board meeting to approve the results will be informed in due course.
- · Trading window closure period: 1st October 2026 to 48 hours after declaration of Q2/H1 FY27 financial results.
- · Compliance with SEBI circular No. SEBI/HO/ISD/ISD-PoD-2/P/CIR/2023/124 dated 19th July 2023 requires prior intimation to NSDL at least 2 trading days before window closure.
- · PAN will be frozen by NSDL for the company's shares during the closure period.
- · The Board meeting date for approving the financial results will be announced later.
28-09-2026
National Highways Authority of India (NHAI) reported unaudited financial results for the quarter ended June 30, 2026, showing a net loss of ₹1,36,639.58 lakh (unaudited) compared to a loss of ₹3,36,043.21 lakh in the preceding quarter ended March 31, 2026, indicating a significant reduction in losses. However, the entity continues to operate at a loss, with prior period expenses of ₹103.97 lakh for the quarter. The debt-to-equity ratio improved to 0.1598 times from 0.1723 times in the prior quarter, while the asset coverage ratio for secured NCDs strengthened to 7.8260 times from 7.6394 times. The company also confirmed compliance with financial covenants for its listed debt securities.
- · The limited review covered five Project Implementation Units (PIUs) as a test check.
- · Depreciation and provisions (except interest on borrowings) are year-end exercises and were not considered during the quarter.
- · Figures for the quarter and year ended March 31, 2026 have been restated pursuant to observations of statutory auditors (C&AG) on FY 2025-26 financial statements.
- · NHAI is constituted by an Act of Parliament and acts as an executing agency of the Government of India; its capital is provided by the Government and is not divided into shares.
- · The format for financial statements was prescribed by C&AG in 1992, with line items not directly fitting included via sub-schedules.
- · Debt-to-Equity ratio improved to 0.1598 times (Jun 2026) from 0.1723 times (Mar 2026) and 0.2403 times (Jun 2025).
- · Current ratio stood at 1.80 times as of Jun 2026, up from 1.4076 times as of Mar 2026.
- · Total Debt to Total Asset ratio was 0.1332% as of Jun 2026, down from 0.1407% as of Mar 2026.
- · The exclusive charge on the Surat Dahod Tollway Project is still in the process of being satisfied, though the loan has been fully repaid.
- · No bad debts were reported for any period (Bad Debt to Account Receivable ratio is NIL).
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