Q1 FY27 results approved; 51% Truvolt Engineering stake via share swap
Awaiting price reaction for this filing.
The Board approved unaudited Q1 FY27 (June 2026) standalone results with a clean limited review. Separately, it approved acquiring 51 percent stake (63.23 lakh shares) in Truvolt Engineering Co Pvt Ltd via a share swap at a 1:2 ratio, valued at about Rs.83.47 crore. Harmony will issue 1.26 crore equity shares at Rs.66 each (face value Rs.10, premium Rs.56) to Truvolt shareholders, nearly doubling paid-up capital from Rs.12.13 crore to Rs.24.77 crore. This is a related party transaction as Harmony promoters are also shareholders in Truvolt. Truvolt posted Rs.315 crore turnover in FY26. Subject to shareholder and BSE approvals via postal ballot.
Share-swap acquisition doubles share count, causing dilution. Related party deal needs shareholder nod via postal ballot. Subject to BSE and other approvals.