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Time Technoplast Reports Normal Global Operations; 9MFY26 Revenue Grows to ₹4,433 Cr
Time Technoplast has provided an update on its global operations amid geopolitical tensions in the Middle East and Europe. Despite a 20% surge in polymer prices over the last 45 days and rising freight costs, the company reports normal operations across its 10 international markets. For 9MFY26, revenue reached ₹4,433 Cr compared to ₹3,992 Cr in 9MFY25, with overseas operations contributing 36% of the total. The company is mitigating risks by maintaining 60-70 days of inventory and passing on cost increases to B2B customers to protect absolute EBITDA.
Key Highlights
9MFY26 consolidated revenue increased to ₹4,433 Cr from ₹3,992 Cr in the previous year.
Polymer prices have spiked by approximately 20% in the last 45 days due to global oil and gas volatility.
Industrial Packaging segment, which accounts for 74% of revenue, successfully passes price adjustments to customers.
Maintains a strategic inventory level of 60-70 days and a 50/50 mix of local and imported raw material sourcing.
Operations in the Middle East and North Africa (MENA) remain normal with negligible impact on margins expected.
💼 Action for Investors
Investors should monitor the company's margin stability in the upcoming quarters to ensure the 20% polymer price hike is fully absorbed by customers. The steady growth in the Composite segment (13% of revenue) remains a key long-term value driver.
Mangal Credit to Raise ₹30 Crore via Private Placement of NCDs at 11.75% Coupon
Mangal Credit and Fincorp Limited's Board has approved raising ₹30 crore through the issuance of secured, listed, and rated Non-Convertible Debentures (NCDs). The NCDs carry a coupon rate of 11.75% per annum with interest payable monthly and a bullet principal repayment after 30 months. The issue is structured as a private placement with a face value of ₹1 lakh per unit. This capital infusion is likely intended to support the company's lending operations and liquidity management.
Key Highlights
Board approved raising up to ₹30 crore through 3,000 Non-Convertible Debentures (NCDs)
The NCDs offer a coupon rate of 11.75% per annum with monthly interest payments
The instrument has a tenure of 30 months with a maturity date set for September 18, 2028
Secured by a first-ranking charge on receivables with a minimum security cover of 1.20x
Deemed date of allotment is scheduled for March 18, 2026, with listing on BSE Limited
💼 Action for Investors
Investors should monitor the company's ability to deploy this capital into high-yield assets to maintain healthy net interest margins given the 11.75% cost of debt. This fundraise is a positive sign of credit access for the NBFC to fuel its growth trajectory.
DCX Systems Secures INR 68.05 Crore Order from Hindustan Aeronautics Limited
DCX Systems Limited has secured a significant purchase order worth INR 68.05 Crores from Hindustan Aeronautics Limited (HAL). The contract entails the manufacture and supply of custom-made antennas and power supplies designed for airborne applications. This development underscores the company's strong positioning within the Indian defense supply chain and its ongoing relationship with HAL. The order is expected to contribute to the company's top-line growth as execution commences.
Key Highlights
Total purchase order value is approximately INR 68.05 Crores, including GST.
The order was placed by Hindustan Aeronautics Limited (HAL) for airborne applications.
Scope of work includes the manufacture and supply of Custom-Made Antennas and Power Supplies.
The contract was received in the normal course of business on March 05, 2026.
💼 Action for Investors
Investors should view this as a positive reinforcement of the company's order book and its role in the domestic defense sector. Monitor the company's execution capabilities and margin performance in upcoming quarterly results.
Balmer Lawrie Declares Interim Dividend of Rs 4.25 per Share for FY 2025-26
Balmer Lawrie & Co. Ltd. has announced an interim dividend of Rs 4.25 per equity share for the financial year 2025-26. The dividend is based on a face value of Rs 10 per share and applies to over 17.10 crore equity shares. The company has fixed March 11, 2026, as the record date to determine shareholder eligibility. This announcement follows the Board of Directors meeting held on March 5, 2026.
Key Highlights
Interim dividend declared at Rs 4.25 per equity share for FY 2025-26
Record date for dividend eligibility set for March 11, 2026
Dividend applies to 17,10,03,846 equity shares of face value Rs 10 each
Payment to be processed within the statutory timeline following the March 5 board meeting
💼 Action for Investors
Investors interested in the dividend should ensure they hold the shares before the ex-dividend date, which is typically one business day prior to the March 11 record date.
Asian Granito Allots 6.45 Cr Equity Shares Following Scheme of Arrangement
Asian Granito India Limited has approved the allotment of 6,45,63,636 equity shares of Rs. 10 each as part of a Composite Scheme of Arrangement with Adicon Ceramica Tiles. This allotment increases the company's total paid-up equity share capital from 23.19 crore shares to 29.65 crore shares, representing a significant equity expansion. The move follows the NCLT Ahmedabad Bench's sanction of the scheme on February 17, 2026. The newly allotted shares will rank pari-passu with existing equity and will be listed on both BSE and NSE.
Key Highlights
Allotment of 6,45,63,636 equity shares of Rs. 10 each to shareholders of Adicon Ceramica Tiles.
Total paid-up equity capital increased from Rs. 231.91 crore to Rs. 296.48 crore.
Equity share count expanded by approximately 27.8% to a total of 29,64,75,285 shares.
The allotment is pursuant to the NCLT Ahmedabad Bench order pronounced on February 17, 2026.
💼 Action for Investors
Investors should evaluate the potential dilution of Earnings Per Share (EPS) given the 27.8% increase in share capital. Monitor the integration progress of the acquired business units to see if synergies offset the equity dilution.
Balmer Lawrie Declares Interim Dividend of Rs 4.25 Per Share for FY 2025-26
Balmer Lawrie & Co. Ltd. has announced an interim dividend of Rs 4.25 per equity share for the financial year 2025-26. The decision was finalized during the Board of Directors meeting held on March 5, 2026. The company has designated March 18, 2026, as the record date to determine shareholder eligibility for the payout. This dividend will be distributed across 17,10,03,846 equity shares with a face value of Rs 10 each.
Key Highlights
Interim dividend of Rs 4.25 per equity share declared for FY 2025-26
Record date for dividend eligibility fixed as Wednesday, March 18, 2026
Dividend applicable to 17,10,03,846 equity shares of face value Rs 10 each
Payment to be completed within the statutory timeline following the declaration
💼 Action for Investors
Investors looking to benefit from the dividend should ensure they hold the stock before the record date of March 18, 2026. The consistent dividend payout reflects the company's stable cash flow position.
Jio Financial Services Invests Rs 147.45 Crore in Allianz Jio Reinsurance JV
Jio Financial Services Limited (JIOFIN) has increased its stake in its joint venture, Allianz Jio Reinsurance Limited (AJRL), by investing Rs 147.45 crore. The company was allotted 14.74 crore equity shares at a face value of Rs 10 each, bringing its total aggregate investment in the JV to Rs 150 crore. This capital infusion is intended to fund the business operations of the reinsurance entity. The transaction is a related party deal conducted on an arm's length basis, signaling JIOFIN's commitment to scaling its insurance vertical.
Key Highlights
Allotted 14,74,50,000 equity shares of Allianz Jio Reinsurance Limited at par value of Rs 10.
Total investment in this specific tranche amounts to Rs 147.45 crore.
Aggregate investment by JIOFIN in the reinsurance joint venture now reaches Rs 150 crore.
Capital will be utilized to fund the ongoing and future business operations of AJRL.
💼 Action for Investors
Investors should view this as a strategic move to strengthen JIOFIN's footprint in the insurance sector alongside a global partner. Monitor for further regulatory approvals and the official launch of reinsurance services.
Jet Airways to Auction Two Boeing 777 Aircraft for Total Reserve Price of ₹356.76 Crore
Jet Airways (India) Limited, currently under liquidation, has announced the e-auction of two Boeing 777-300ER aircraft located in Delhi. The reserve prices for the two aircraft are set at ₹171.81 crore and ₹184.95 crore, bringing the total minimum expected realization to approximately ₹356.76 crore. The e-auction is scheduled for March 27, 2026, with the deadline for submitting eligibility documents and Earnest Money Deposits (EMD) set for March 24, 2026. This sale is a critical step in the liquidation process to recover value for the company's stakeholders.
Key Highlights
Two Boeing 777-300ER aircraft (VT-JET and VT-JEU) are being sold via e-auction on the BAANKNET platform.
The combined reserve price for both aircraft stands at ₹3,56,75,50,000.
The e-auction is scheduled to take place on March 27, 2026, from 10:00 AM to 8:00 PM.
Last date for submission of eligibility documents and Section 29A undertakings is March 24, 2026.
The sale is conducted by Liquidator Satish Kumar Gupta on an 'as is where is' and 'without recourse' basis.
💼 Action for Investors
Investors should track the outcome of the auction on March 27, 2026, as the proceeds will be distributed to creditors under the IBC waterfall mechanism. As the company is in liquidation, equity shareholders are unlikely to see any significant recovery.
eMudhra Targets EU Market Growth with NIS2 and DORA Cybersecurity Compliance Solutions
eMudhra is strategically positioning its PKI-based authentication services to help European enterprises comply with the new NIS2 and DORA cybersecurity mandates. These regulations expand security obligations for organizations serving the EU, making strong identity verification a mandatory requirement for operational resilience. The company, which already operates in over 35 countries, expects these regulatory shifts to drive demand for its certificate lifecycle management and digital trust solutions. This move highlights eMudhra's focus on high-value, compliance-driven markets to fuel international growth.
Key Highlights
eMudhra aligns PKI and identity services with EU's NIS2 and DORA cybersecurity regulations.
Company leverages its presence in 35+ countries to address global digital trust requirements.
Solutions include certificate lifecycle management and post-quantum readiness for enterprise security.
Regulatory mandates shift cybersecurity accountability to executive boards, increasing demand for high-assurance tools.
💼 Action for Investors
Investors should monitor the company's international revenue trajectory, specifically in Europe, as these regulations drive mandatory adoption of digital trust infrastructure.
RVNL Secures Highest 'CARE AAA; Stable' Rating for ₹10,040 Crore Bank Facilities
Rail Vikas Nigam Limited (RVNL) has received top-tier credit ratings from Care Edge for bank facilities totaling ₹10,040 crore. The agency assigned a new 'CARE AAA; Stable' rating to long-term facilities worth ₹1,510 crore and reaffirmed the same for existing facilities of ₹30 crore. Additionally, combined long-term and short-term facilities worth ₹8,500 crore were reaffirmed at 'CARE AAA; Stable / CARE A1+'. These ratings underscore the company's strong financial position and its strategic importance in India's railway infrastructure sector.
Key Highlights
Assigned 'CARE AAA; Stable' rating for new long-term bank facilities of ₹1,510.00 crore
Reaffirmed 'CARE AAA; Stable' rating for existing long-term bank facilities of ₹30.00 crore
Reaffirmed 'CARE AAA; Stable / CARE A1+' for large-scale facilities totaling ₹8,500.00 crore
Total bank facilities covered under this credit rating action amount to ₹10,040 crore
The 'AAA' rating signifies the highest degree of safety regarding timely servicing of financial obligations
💼 Action for Investors
Investors should take confidence in RVNL's 'AAA' credit profile, which ensures access to low-cost capital for its massive order book. This reaffirmation validates the company's fundamental financial strength and low default risk.
DP Wires to Seek Approval for ₹380 Cr Related Party Transactions at March 31 EGM
DP Wires Limited has scheduled an Extra-Ordinary General Meeting (EGM) on March 31, 2026, to seek shareholder approval for material Related Party Transactions (RPTs) for FY 2026-27. The company proposes transactions with Kataria Plastics Private Limited for goods and services up to ₹180 Crores and loans up to ₹50 Crores. Additionally, approval is sought for unsecured loans with DP Kataria Private Limited for an aggregate value not exceeding ₹150 Crores. These transactions represent a significant volume of related party exposure that warrants investor scrutiny.
Key Highlights
EGM scheduled for March 31, 2026, to approve RPTs for the upcoming 2026-27 financial year.
Proposed transaction limit of ₹180 Crores with Kataria Plastics Private Limited for purchase/sale of goods.
Proposed loan and repayment limit of ₹50 Crores with Kataria Plastics Private Limited.
Proposed unsecured loan limit of ₹150 Crores with DP Kataria Private Limited.
Shareholder voting cut-off date is fixed for March 27, 2026.
💼 Action for Investors
Investors should evaluate the necessity and terms of the ₹200 Crores in proposed loans to related entities to ensure they do not compromise the company's liquidity or minority shareholder interests. Monitor the EGM voting outcomes for insights into institutional sentiment regarding these high-value transactions.
Bajaj Auto Subsidiary KTM AG Pre-pays Euro 450 Million Loan; Agreement Terminated
KTM AG, a step-down subsidiary of Bajaj Auto, has pre-paid its outstanding Euro 450 million secured term loan to Bajaj Auto International Holdings BV. This loan was originally extended in May 2025 to facilitate the restructuring of KTM AG and its relevant subsidiaries. The full repayment has resulted in the formal termination of the facility agreement on March 5, 2026. This move reflects a strengthening financial position for the KTM business unit following its restructuring phase.
Key Highlights
KTM AG pre-paid the entire outstanding amount of a Euro 450 million secured term loan
The loan was provided by BAIH BV, a 100% owned subsidiary of Bajaj Auto Limited
The facility was originally intended to fund the restructuring of KTM AG and its subsidiaries
The agreement, dated May 21, 2025, stands terminated effective March 5, 2026
💼 Action for Investors
Investors should view this as a positive signal regarding KTM AG's liquidity and the successful progress of its restructuring efforts. No immediate action is required, but it improves the consolidated financial outlook.
Exicom Seeks Shareholder Approval for MD & CEO and WTD Remuneration via Postal Ballot
Exicom Tele-Systems has initiated a postal ballot to seek shareholder approval for the remuneration of its top executives. The company proposes a performance-linked commission of up to 2% of net profits for MD & CEO Anant Nahata for the period April 2026 to July 2028. Additionally, approval is sought for Whole-time Director Vivekanand Kumar's remuneration for his remaining tenure through August 2028. These special resolutions are structured to ensure payment continuity even in the event of inadequate profits, adhering to Schedule V of the Companies Act.
Key Highlights
Proposed performance-linked commission for MD & CEO Anant Nahata capped at 2% of net profits per financial year.
Remuneration approval sought for MD & CEO for the period April 1, 2026, to July 6, 2028.
Remuneration approval sought for Whole-time Director Vivekanand Kumar from August 21, 2026, to August 20, 2028.
Special resolutions enable payment of remuneration even in case of absence or inadequacy of profits.
Remote e-voting period is scheduled from March 6, 2026, to April 4, 2026, with results expected by April 7, 2026.
💼 Action for Investors
Investors should monitor the voting results to ensure executive compensation remains aligned with company performance and shareholder interests. No immediate portfolio changes are necessary based on this routine governance disclosure.
Radico Khaitan's Old Admiral Brandy Crosses 10 Million Cases Sales Milestone in FY26
Radico Khaitan has announced that its Old Admiral Brandy brand achieved a significant milestone by crossing 10 million cases in sales during FY26. This represents a massive jump from the 5.6 million cases sold in FY25, nearly doubling the volume within a year. The growth was primarily driven by focused distribution and market support in the key southern states of Andhra Pradesh, Telangana, and Karnataka. This achievement underscores the brand's strong consumer loyalty and its scaling capabilities within the Indian Made Foreign Liquor (IMFL) category.
Key Highlights
Old Admiral Brandy sales surpassed 10 million cases in FY26
Significant volume growth compared to 5.6 million cases recorded in FY25
Strengthened market leadership in Andhra Pradesh, Telangana, and Karnataka
Growth attributed to consistent quality, value proposition, and focused distribution initiatives
💼 Action for Investors
Investors should take this as a positive sign of Radico's brand-building strength and market share expansion; watch for the impact of this volume growth on the company's revenue and margins in the upcoming financial results.
SETL Signs 10-Year Distribution Agreement with API Pharma for Middle East Export Expansion
Standard Engineering Technology Limited (SETL) has entered into a strategic Target-Based Conditional Distribution Agreement with UAE-based API Pharma Pharmaceutical Trading L.L.C. The partnership focuses on exporting SETL's manufactured products to the Middle East, targeting pharmaceutical, biopharma, and food & beverage sectors. The agreement features an initial 3-year performance period, with the potential to extend the total tenure up to 10 years based on the achievement of defined business milestones. This move is designed to strengthen the company's foreign revenue stream and capitalize on the region's industrial transformation initiatives.
Key Highlights
Entered into a distribution agreement with API Pharma Pharmaceutical Trading L.L.C for the Middle East region.
Initial 3-year performance period with defined annual and cumulative business targets.
Total potential agreement tenure of up to 10 years subject to milestone achievements.
Targets high-growth sectors including Pharma manufacturing, Biopharma, and Food & Beverage industries.
Agreement includes commercial protections and periodic review mechanisms to mitigate geopolitical risks.
💼 Action for Investors
Investors should track the company's export revenue growth in upcoming quarterly results to assess the early success of this Middle East expansion. The long-term nature of the contract provides good revenue visibility if initial 3-year targets are met.
Supreme Engineering Q2 FY23 Revenue Drops 60% YoY; Reports Net Loss of ₹5.69 Crore
Supreme Engineering Limited reported a weak performance for the quarter ended September 30, 2022, with revenue from operations falling sharply to ₹6.37 crore from ₹16.19 crore in the same period last year. The company posted a net loss of ₹5.69 crore, a significant reversal from the ₹0.82 crore profit recorded in Q2 FY22. High finance costs and a substantial reduction in operational scale have severely impacted margins. The company also underwent a management change with the appointment of a new Company Secretary following a resignation.
Key Highlights
Revenue from operations declined by 60.6% YoY to ₹637.12 lakhs in Q2 FY23.
Company swung to a net loss of ₹569.41 lakhs for the quarter compared to a profit of ₹81.82 lakhs YoY.
Total borrowings as of September 30, 2022, stood at approximately ₹100.63 crore.
Finance costs for the half-year ended September 2022 reached ₹128.82 lakhs.
Management announced the appointment of Mr. Hemant Agarwal as Company Secretary effective November 14, 2022.
💼 Action for Investors
Investors should exercise caution as the company shows signs of operational distress with declining revenues and a shift into losses. The high debt levels relative to equity and the sharp drop in business volume are significant red flags.
Bank of Baroda Allots ₹10,000 Crore Long Term Green Infrastructure Bonds at 7.10%
Bank of Baroda has successfully completed the allotment of Series I Long Term Green Infrastructure Bonds worth ₹10,000 crore. These unsecured, non-convertible bonds carry a coupon rate of 7.10% and were allotted to 15 investors on March 5, 2026. The funds are specifically earmarked for green infrastructure projects, supporting the bank's sustainable lending portfolio. This large-scale fundraise strengthens the bank's long-term capital position for targeted infrastructure financing.
Key Highlights
Total issue size of ₹10,000 crore through 10,00,000 bonds
Fixed coupon rate of 7.10% for Long Term Green Infrastructure Bonds
Successful allotment to 15 allottees via the NSE EBP platform
Bonds are rated, listed, unsecured, and redeemable in nature
Face value per bond is set at ₹1.00 lakh
💼 Action for Investors
Investors should view this as a positive step for the bank's capital adequacy and its focus on the growing green energy sector. Monitor how the deployment of these funds impacts the bank's long-term asset-liability management and interest margins.
Maha Rashtra Apex Receives Stock Exchange Approval for Rights Issue
Maha Rashtra Apex Corporation Limited has successfully obtained in-principle approval from both the National Stock Exchange (NSE) and BSE Limited for its proposed Rights Issue of equity shares. The BSE approval was granted on March 4, 2026, while the NSE approval followed on March 5, 2026. This development follows the company's initial application submitted to the exchanges on December 20, 2025. The approval marks a critical regulatory milestone in the company's efforts to raise capital through existing shareholders.
Key Highlights
Received in-principle approval from NSE on March 5, 2026, for the Rights Issue.
Received in-principle approval from BSE on March 4, 2026, for the equity issuance.
Follows the initial application process initiated by the company on December 20, 2025.
The fundraising is being conducted under Regulation 30 of SEBI Listing Regulations.
💼 Action for Investors
Investors should watch for the announcement of the Rights Issue price, ratio, and record date to evaluate the potential dilution and the attractiveness of the offer.
Zaggle Signs 3-Year Agreement with Blue Star Limited for Expense Management Solutions
Zaggle Prepaid Ocean Services Limited has entered into a significant domestic agreement with Blue Star Limited. The company will provide its 'Zaggle Save' platform, which focuses on employee expense management and benefits, to the client. The contract is established for a fixed duration of three years. This partnership signifies Zaggle's continued growth and adoption among major Indian corporate entities.
Key Highlights
Agreement signed with Blue Star Limited for employee expense management services.
Zaggle will deploy its 'Zaggle Save' platform for benefits and expense tracking.
The contract duration is fixed for a period of 3 years.
The deal is a domestic contract with no promoter or related party interest involved.
💼 Action for Investors
Investors should view this as a positive development in Zaggle's B2B SaaS growth strategy. Monitor for further disclosures regarding the financial scale of such corporate tie-ups to assess long-term revenue impact.
T T Limited Promoter Group Acquires 1,45,900 Equity Shares via Open Market
T T Brands Limited, a member of the promoter group, has increased its stake in T T Limited by purchasing 1,45,900 equity shares. The acquisition took place over a four-day window between March 2, 2026, and March 5, 2026. This disclosure was made in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations. Promoter buying is generally viewed as a positive signal, indicating management's confidence in the company's future performance and current valuation.
Key Highlights
Promoter group entity T T Brands Limited purchased 1,45,900 equity shares.
The acquisition occurred between March 2, 2026, and March 5, 2026.
Disclosure filed under Regulation 29(2) of SEBI (SAST) Regulations, 2011.
The move indicates an increase in promoter skin in the game and confidence in the business.
💼 Action for Investors
Investors should take this as a positive sign of promoter confidence; however, it is advised to monitor the company's quarterly financial performance alongside these insider movements.