The Company has incorporated subsidiary company, namely Sanmit Truevalue Infraprojects Pvt. Ltd.
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Sanmit Infra Ltd has incorporated a new subsidiary called Sanmit Truevalue Infraprojects Pvt. Ltd. on 10th March 2026. The company has acquired 51% equity stake (51,000 shares of Rs. 10 each) for Rs. 5,10,000. The new subsidiary will focus on microsurfacing works, road construction, road maintenance, and infrastructure development projects in India and abroad, along with manufacturing road construction materials. The subsidiary has an authorized share capital of Rs. 15,00,000 and CIN U42101MH2026PTC469192. This is classified as a related party transaction because the company's Managing Director and promoter, Sanjay Kanayalal Makhija, is also a director in the newly formed entity. The subsidiary has not yet commenced business operations.
This is a small capital deployment of just Rs. 5.1 lakh, so the immediate financial impact on shareholders is minimal. However, the related-party nature and the fact that the promoter group is involved may raise governance questions for some investors. The subsidiary operates in the same core business area, suggesting potential for future business expansion but no near-term revenue or earnings impact.