Announcement under Regulation 30 - General
Awaiting price reaction for this filing.
SJ Corporation Ltd reported FY26 standalone revenue of Rs 2,103.65 lakhs, up 37.4% from Rs 1,531.09 lakhs in FY25. The company turned profitable with net profit of Rs 71.21 lakhs versus a loss of Rs 20.18 lakhs in the prior year. The main highlight is a complete change of management control - new promoters led by Pintu Kanjibhai Kalavadia and Prashant Kanjibhai Kalavadia (brothers) acquired 11.35% stake from existing promoters for Rs 5.90 crore at Rs 12 per share and are making an open offer for 26% of voting capital. The entire board was reconstituted with 4 new director appointments and 4 resignations. The company also approved shifting its registered office from Mumbai to Rajkot, sale of land at Kosmada for Rs 1.40 crore, and related party transactions. The auditors issued an unmodified (clean) opinion on the financial statements.
The change of management control and open offer represents a significant corporate event that could impact the stock's near-term performance. The financial turnaround from loss to profit is positive, but the substantial equity dilution from the open offer and potential new share issuances may affect shareholder value.