SOURCE INDUSTRIES (INDIA) LTD.

Classified under textiles & apparels (Other Textile Products), this BSE-listed entity (scrip code 521036) is in the middle of a strategic transformation. Shareholders approved expanding its objects clause to include railway infrastructure, metro rail, defence technology, drones, AI, and cybersecurity, and also approved a name change to "Arka Defence & Locomotives Limited" at an EGM on March 30, 2026. FY26 revenue from operations was Rs 54.27 lakhs, up from Rs 6.57 lakhs in FY25, but still very small in absolute terms. The company swung to a net profit of Rs 12.18 lakhs in FY26 from a Rs 14.55 lakhs loss the prior year, although other equity remains deeply negative at Rs -698.09 lakhs and trade receivables of Rs 208.97 lakhs are large relative to top line. Promoters — Sudhir Reddy Posireddy, N Mohan Krishna, Ram Reddy Swathi and Arka Defence Private Limited — together hold 63.21% of the equity after acquiring an additional 13.03% via an off-market transaction on July 25, 2025. The filings do not describe current products, customers, plant capacity, or operating scale of any specific business line, and the cost shape shows employee costs at 36.1% of revenue and other operating expenses at 47.7%, with materials, depreciation and capex each at 0% of revenue.