GLITTEK GRANITES LTD.

Classified in Other Construction Materials, the listed entity had been sitting on old granite inventory that, as disclosed in its FY26 filings, was sold off at scrap value because the stock had not moved in over five years. One FY26 filing reports total income collapsed to Rs 140.59 lakh from Rs 3,332.91 lakh in FY25, with a pre-tax loss of Rs 39.45 lakh; two other FY26 filings record total income of Rs 3,126.28 lakh with profit after tax of Rs 685.86 lakh and Rs 2,603.66 lakh respectively, attributing the result to the inventory disposal. The Agarwal-family promoters sold their 62.99% stake under a Share Purchase Agreement, and an open offer at Rs 12.65 per share by the Thanki family and Rawmin Mining closed on 9 June 2026, lifting the new promoter group to 70.59%. The previous Managing Directors, Independent Directors and CFO have resigned, and three Thanki-family members have joined as Chairperson, Managing Director and Whole-time Director, with a nephew as CFO. The new board has approved a proposed rename to Rawmin Neo Elements Limited, a shift of the registered office from Karnataka to Maharashtra, and an alteration of the company's business objects. The operating activity that the listed entity will carry out going forward is not described in the available filings.