Board of Directors at their meeting held on 11th February 2026 have approved the sale of unused vacant land admeasuring 1 acre (approx) situated at Gangaikondan, Tirunelveli, being non-substantial ....
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Awaiting price reaction for this filing.
The Board on February 11, 2026 approved three items. First, unaudited Q3 FY26 results: revenue from operations stood at Rs. 107.56 crore (vs Rs. 108.57 crore in Q3 FY25), with profit after tax at Rs. 0.72 crore (vs Rs. 1.78 crore YoY). For 9M FY26, the company swung to a profit of Rs. 5.11 crore versus a loss of Rs. 1.13 crore last year, helped by an exceptional gain of Rs. 2.95 crore from an asset sale. Second, the Board approved buying 3 acres in Puducherry and 5 acres in Coimbatore from unrelated parties for commercial purposes, with no immediate business activity planned. Third, the Board approved selling 1 acre of unused land at Gangaikondan, Tirunelveli to ARVA Storage Solutions Pvt Ltd (a promoter group entity) for up to Rs. 2.75 crore in cash, classified as a non-material related-party transaction at arm's length.
Core operations remain broadly flat with margins under pressure on a YoY basis, though the 9M swing to profit looks better due to one-time gains. The land purchase and related-party land sale are small and non-material to the business, with negligible impact on the stock price.