ENCLOSED HEREWITH BOARD MEETING OUTCOME DATED 04/02/2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sanmit Infra's board approved a Rs. 200 lakh term loan from SIDBI under the STEP Scheme for working capital at its Khalapur, Raigad manufacturing unit, carrying an 8.85% annual interest rate, 6-month moratorium, and 54 monthly installments. CEO Shlok Sanjay Makhija's resignation (effective 31 December 2025) was noted, and Mr. Mohan Mallu Rathod's tenure as Independent Director ended on 5 January 2026. Mr. Nandkumar Gorkhnath Patil was appointed as a new Non-Executive Independent Director for a 5-year term. The board also recommended a share consolidation of 10 equity shares of Rs. 1 each into 1 share of Rs. 10 each, which will not change the paid-up capital of Rs. 15.80 crore. An EGM has been scheduled for 18 March 2026 to seek shareholder approval for the consolidation.
The new SIDBI loan strengthens working capital and supports the manufacturing unit, while the share consolidation may improve per-share liquidity and align with long-term growth plans. The CEO exit and board reshuffle are administrative, but shareholders should watch the 18 March EGM for the consolidation vote.