Glittek Granites diversifies into BESS, Rs 150 crore project; auditor and RTA changes

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Price reactionminutes from the announcement price · days from the prior close

-2.0%Reaction day

₹69.03

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Nifty Microcap 250market · in no size index; the smallest one is used+0.1%-2.1% vs market

Other Construction Materials peers, median of 17sector-1.4%-0.6% vs sector

On the reaction day the stock moved 2.1 pts less than Nifty Microcap 250 and 0.6 pts less than its Other Construction Materials peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Board approved entry into Battery Energy Storage Systems (BESS) and allied businesses with an estimated project cost of Rs 150 crore, including land acquisition, cell packaging, BESS manufacturing, EPC contracting for solar and storage, and trading. A new corporate office in Ahmedabad was approved. Statutory auditor changed to R.R. Tibrewala & Co (replacing GRV & PK), secretarial auditor changed to KJB & Co LLP after Kriti Daga resigned citing management change, and RTA changed from MCS Share Transfer Agent to MUFG Intime India. Q1 FY27 results also approved.

Likely market impact

Major diversification from granite into energy storage with Rs 150 crore investment; 10-12 month gestation. Multiple leadership and operational changes amid management transition.