Intimation under regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 - Acquisition
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Bharatam Ventures Limited (formerly Pet Plastics Ltd) announced multiple board decisions on May 28, 2026. The company approved acquisition of 99.9987% equity stake in Penganga Sakhar Karkhana Private Limited for Rs. 1.8 crore (Rs. 120 per share), payable in cash. Penganga is engaged in sugar and allied agro-processing business with FY 2025-26 turnover of Rs. 83.53 crore, growing from Rs. 13.68 crore three years ago. The acquisition is not a related party transaction and will be completed within 30 days, making Penganga a subsidiary. The company also reported a standalone loss of Rs. 1,396.99 lakh for FY 2025-26 versus profit of Rs. 14.53 lakh in the previous year, with total equity declining sharply from Rs. 1,435.25 lakh to Rs. 38.26 lakh. An internal auditor was appointed and a new non-executive director added.
The acquisition represents a major diversification into sugar/agro business for a company that posted significant losses. While the target company's Rs. 83.5 crore turnover appears substantial relative to the ~Rs. 1.8 crore purchase price, shareholders should note the company's deteriorating financial position and equity erosion.