Change of Registered office of the company within the local limits of Hyderabad City.
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Awaiting price reaction for this filing.
Source Industries (India) Ltd has formally changed hands. The open offer by four acquirers — Mr. Sudhir Reddy Posireddy, Mr. Naraharisetty Mohan Krishna, Mrs. Swathi Ramreddy and Arka Defence Private Limited — has been successfully completed, and these new promoters have taken control of the company from July 28, 2025. The entire board has been reconstituted: the previous Managing Director and two other directors have resigned, while the new CMD, two whole-time directors and two independent directors have been appointed. The company also plans to rename itself 'Bharat Rail and Defence Limited' and alter its objects clause, signalling a likely pivot toward rail and defence businesses. Additionally, the registered office is being shifted within Hyderabad, and borrowing limits are proposed to be raised to Rs. 100 crore. Q1 FY26 results showed a marginal net profit of Rs. 0.11 lakh on total income of Rs. 2.17 lakh, a slight improvement over the Rs. 1.39 lakh loss in Q1 FY25.
Shareholders now have a completely new management and likely a new strategic direction in rail and defence, which could change the company's risk-return profile dramatically. Existing investors should watch the name change, revised object clause and AGM approvals closely, as the new promoters appear to be reshaping the company's identity and potentially scaling up operations significantly.