Announcement under Regulation 30 - Resignation of Director
Awaiting price reaction for this filing.
SJ Corporation Ltd reported FY2026 standalone revenue of ₹21.04 crore (up 37% from ₹15.31 crore in FY2025) and net profit of ₹71.21 lakh versus a loss of ₹20.18 lakh in FY2025. The company underwent a complete change of management control: new promoters led by Pintu and Prashant Kalavadia brothers acquired 11.35% stake for ₹5.90 crore at ₹12/share, plus an open offer for 26% at the same price. Four new directors were appointed (including 2 independent directors), while the CFO and 4 existing directors (including 3 independent directors) resigned citing 'Change in Management Control'. The registered office is shifting from Mumbai to Rajkot, Gujarat. A land sale at Kosmada, Surat for ₹1.40 crore was approved for working capital purposes.
This represents a complete board overhaul and promoter change. The takeover at ₹12/share signals new management's intent. Shareholders should note the substantial governance changes, office relocation, and associated compliance requirements. The financial turnaround from loss to profit will be viewed positively by the market.