Cancellation of withdrawal of proposed investment transaction
SCODATUBES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Scoda Tubes Ltd's Board meeting on May 26, 2026 approved the cancellation of a proposed EUR 7,000 investment to acquire 100% stake in Arvind sp.z o.o. (Poland). The deal was withdrawn due to operational difficulties in remitting funds from India, including regulatory approvals, banking procedures, compliance requirements, foreign exchange constraints, and cross-border remittance challenges. The company also reported strong FY2026 financials with revenue of Rs 5,186.50 million (up 7% from Rs 4,848.90 million), profit after tax of Rs 388.43 million (up 22% from Rs 317.41 million), and EPS of Rs 6.79. The company completed its IPO in June 2025 raising Rs 2,200 million.
The cancelled deal means shareholders will not see the expected international expansion through the Polish acquisition. The company's focus remains on its core stainless-steel pipes and tubes business in India, which continues to show healthy growth.