Enclosed herewith.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Ace Men Engg Works' board approved its Q1 FY26 unaudited results with a profit after tax of Rs. 1.43 lakh (vs Rs. 1.17 lakh in Q1 FY25) on total income of Rs. 4.64 lakh, with auditors giving an unmodified (clean) review opinion. Revenue from operations remained nil, indicating the company is largely dormant on operating revenue. The board also approved a major share-swap acquisition of 100% of Manibhadra Industries Pvt Ltd (MIPL), a lighting industry firm, for Rs. 62.82 crore via issue of 98.16 lakh new equity shares at Rs. 64 each (including Rs. 54 premium), making MIPL a wholly-owned subsidiary. To support this and future expansion, authorised capital will rise from Rs. 3.5 crore to Rs. 14 crore, and proposals seek shareholder approval for borrowing powers, investments/loans, and related-party transactions each up to Rs. 500 crore. A new Non-Executive Director was appointed and one Director resigned.
The acquisition via share swap effectively reverses the shareholding – existing shareholders will be substantially diluted as 98.16 lakh new shares (about 32% of current paid-up capital of 309.85 lakh shares) are issued for MIPL. Operating business remains nil, so the company's future earnings will depend on MIPL's lighting operations; the large Rs. 500 crore proposals for borrowings, investments, and RPTs signal significant balance-sheet expansion ahead and are subject to shareholder approval at an upcoming EGM.