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NCLT Approves Merger of Lumax Ancillary Limited into Lumax Auto Technologies
The National Company Law Tribunal (NCLT) has officially sanctioned the Scheme of Amalgamation between Lumax Ancillary Limited and its parent company, Lumax Auto Technologies Limited. Since the transferor is a 100% wholly-owned subsidiary, the merger will not result in any change to the shareholding pattern or equity dilution for existing shareholders. The consolidation is designed to simplify the corporate structure, eliminate redundant administrative costs, and achieve better economies of scale. This move aligns with the company's strategy to enhance operational efficiency and streamline management focus within the automotive sector.
Key Highlights
NCLT New Delhi Bench sanctioned the merger of wholly-owned subsidiary Lumax Ancillary Limited into Lumax Auto Technologies on March 11, 2026.
The merger aims to eliminate multi-layered structures and reduce duplication of administrative and establishment costs.
No new shares will be issued as the transferor company is a 100% subsidiary of the listed parent entity.
The transferor company will be dissolved without winding up upon the scheme becoming effective.
The consolidation is expected to provide synergy benefits across products, technology, and manufacturing excellence.
💼 Action for Investors
Investors should view this as a positive step toward corporate simplification and cost optimization. No action is required regarding shareholdings as there is no change in the equity structure of the listed company.
NCLT Approves Amalgamation of Lumax Ancillary Limited with Lumax Auto Technologies
The Hon'ble NCLT, New Delhi Bench, has sanctioned the Scheme of Amalgamation between Lumax Ancillary Limited and Lumax Auto Technologies Limited on March 11, 2026. The merger is retroactively effective from the appointed date of April 01, 2024. This corporate restructuring aims to streamline operations and consolidate the group's ancillary business under one entity. The merger will be finalized once the certified order is filed with the Registrar of Companies, leading to the dissolution of the transferor company.
Key Highlights
NCLT New Delhi Bench approved the merger scheme on March 11, 2026
The appointed date for the amalgamation is fixed as April 01, 2024
Lumax Ancillary Limited will stand dissolved without being wound up post-filing with ROC
The scheme involves the merger of the Transferor Company into Lumax Auto Technologies Limited
💼 Action for Investors
Investors should monitor the final filing with the Registrar of Companies which will mark the completion of the merger. This consolidation is likely to improve operational efficiency and simplify the corporate structure.
Sandur Manganese Completes Early Redemption of ₹423 Crore NCDs
Sandur Manganese & Iron Ores Limited (SANDUMA) has successfully completed the full early redemption of its Non-Convertible Debentures (NCDs) on March 9, 2026. The company redeemed 45,000 secured NCDs with a face value of ₹94,000 each, totaling ₹423 crore. These debentures carried a high interest rate of 11%, and the early settlement indicates a strong liquidity position. This move is expected to reduce the company's interest expense and strengthen its balance sheet.
Key Highlights
Redeemed 45,000 secured, listed, and interest-bearing NCDs in full
Total aggregate redemption amount stands at ₹423,00,00,000 (₹423 crore)
The NCDs carried a high coupon rate of 11% per annum
Redemption completed ahead of maturity schedule on March 9, 2026
ISIN INE149K07013 has been fully settled and cleared
💼 Action for Investors
Investors should view this deleveraging as a positive development that will improve net profit margins by eliminating high-cost debt. Monitor the next quarterly results for the impact of reduced interest outgo on the bottom line.
Lumax Auto Technologies Long-Term Credit Rating Upgraded to CRISIL AA/Stable
CRISIL Ratings has upgraded Lumax Auto Technologies Limited's long-term credit rating from 'CRISIL AA-/Positive' to 'CRISIL AA/Stable'. The short-term rating and commercial paper rating of Rs. 50 crore have been re-affirmed at 'CRISIL A1+', the highest safety category. The total bank loan facilities rated amount to Rs. 332 crore across multiple major lenders. This upgrade reflects the company's improved financial profile and sustained operational performance.
Key Highlights
Long-term credit rating upgraded to 'CRISIL AA/Stable' from 'CRISIL AA-/Positive'
Short-term and Commercial Paper ratings re-affirmed at 'CRISIL A1+'
Total bank loan facilities covered under the rating review amount to Rs. 332 crore
Commercial Paper programme of Rs. 50 crore maintains the highest safety rating for timely payments
Ratings involve major banks including HDFC, ICICI, YES Bank, and Kotak Mahindra
💼 Action for Investors
Investors should view this upgrade as a sign of strengthening financial health and improved creditworthiness, which may lead to lower borrowing costs. No immediate action is required, but the upgrade reinforces confidence in the company's balance sheet stability.
Lumax Auto Tech Merger Update: NCLT Reserves Order for Amalgamation of Lumax Ancillary
Lumax Auto Technologies Limited (LATL) has announced a procedural update regarding its merger with Lumax Ancillary Limited. The National Company Law Tribunal (NCLT), New Delhi Bench, heard the second motion petition on February 18, 2026, and has reserved the matter for a final order. While the petition has been allowed/reserved, the specific date for the final pronouncement and the official written order are currently pending. This merger is being conducted under Sections 230 to 232 of the Companies Act, 2013.
Key Highlights
NCLT New Delhi Bench allowed/reserved the Second Motion petition for the merger on February 18, 2026
The scheme involves the amalgamation of Lumax Ancillary Limited into Lumax Auto Technologies Limited
The final pronouncement date of the NCLT order is yet to be listed and uploaded on the official website
The company will intimate stock exchanges once the official order is available for public record
💼 Action for Investors
Investors should await the final NCLT order to understand the effective date and finality of the merger. Monitor for subsequent disclosures regarding the share exchange ratio or synergy benefits once the amalgamation is formalized.
Lumax Auto Tech Q3 FY26: Record Revenue of ₹1,271 Cr, Upgrades Growth Guidance to 30%
Lumax Auto Technologies reported its highest-ever quarterly revenue of ₹1,271 crore in Q3 FY26, a 40% YoY increase, driven by strong demand in the passenger vehicle segment and premiumization. The company achieved a record EBITDA margin of 15% and revised its full-year revenue growth guidance upward from 25% to 30%. With a robust order book of ₹1,450 crore and significant growth in the Mechatronics division (+200%), the company shows strong visibility for the next three years. Net profit before minority interest surged 93% YoY to ₹108 crore for the quarter.
Key Highlights
Highest ever quarterly revenue of ₹1,271 crore (+40% YoY) and 9M revenue of ₹3,453 crore (+38% YoY)
EBITDA margins reached a milestone of 15% in Q3 FY26, up 100 bps from the previous year
Order book stands at ₹1,450 crore, with 77% expected to be executed over FY27 and FY28
Mechatronics segment revenue grew by 200% YoY to ₹198 crore in the 9-month period
Full-year revenue growth guidance upgraded to 30% from the earlier 25%
💼 Action for Investors
Investors should view the guidance upgrade and margin expansion as strong indicators of operational efficiency and market share gains. The robust order book and diversification into EVs and Mechatronics provide a solid long-term growth trajectory.
Lumax Industries Q3 FY26 Revenue Up 18.7% to ₹1,053 Cr; EBITDA Margins Expand to 10.6%
Lumax Industries reported its best-ever quarterly performance in Q3 FY26, with revenue growing 18.7% y-o-y to ₹1,053 crores. EBITDA margins saw a significant expansion to 10.6% from 8% in the previous year, driven by premiumization and a shift toward LED lighting. The company's order book stands strong at ₹1,759 crores, with 81% of new orders being LED-based, signaling future margin stability. Despite a one-time labor code impact of ₹15.9 crores, PAT increased by 39% y-o-y to ₹47 crores.
Key Highlights
Q3 FY26 revenue reached a record ₹1,053 crores, up 18.7% year-on-year.
EBITDA margins expanded by 260 basis points to 10.6%, aided by higher LED penetration and tooling profitability.
LED lighting now contributes 61% of total revenue, up from 52% in the same quarter last year.
The company secured a robust order book of ₹1,759 crores, with major wins from Tata Motors, TVS, and Mahindra.
FY26 capex guidance increased to ₹350-₹400 crores to accelerate the Bengaluru and Chakan plant expansions.
💼 Action for Investors
Investors should monitor the successful commissioning of the Bengaluru and Chakan plants in FY26-27, which are key to sustaining growth. The increasing share of high-margin LED products in the order book suggests a positive long-term trajectory for profitability.
Lumax Auto Tech Receives NCLT Approval for Merger with IAC International Automotive India
Lumax Auto Technologies (LATL) has received a favorable first-motion order from the NCLT for the merger of its wholly-owned subsidiary, IAC International Automotive India, into itself. The tribunal has dispensed with the requirement for meetings of shareholders and creditors as no new shares are being issued and the parent company's net worth remains positive. The appointed date for this amalgamation is set as October 1, 2025. This internal restructuring is aimed at simplifying the corporate structure and achieving operational synergies.
Key Highlights
NCLT New Delhi Bench sanctioned the first motion for the merger of IAC International Automotive India into Lumax Auto Technologies.
The merger involves a 100% wholly-owned subsidiary, ensuring no dilution as no new equity shares will be issued.
The appointed date for the scheme of amalgamation is fixed as October 1, 2025.
Meetings of shareholders and creditors were dispensed with by the tribunal, accelerating the legal process.
Post-merger financial position of the Transferee Company is certified to remain net worth positive.
💼 Action for Investors
Investors should view this as a positive administrative step toward corporate simplification and cost optimization. Since there is no equity dilution, the focus should remain on the operational integration of the acquired interior business.
NCLT Approves First Motion for Merger of IAC India into Lumax Auto Technologies
Lumax Auto Technologies (LATL) has received NCLT approval for the first motion regarding the merger of its wholly-owned subsidiary, IAC International Automotive India, into itself. The NCLT has dispensed with the requirement for meetings of shareholders and creditors as the transferor is a 100% subsidiary and no new shares are being issued. The appointed date for this amalgamation is set as October 1, 2025. This move is expected to simplify the corporate structure and potentially improve operational efficiencies.
Key Highlights
NCLT New Delhi Bench pronounced the order for the 1st Motion on February 18, 2026
The merger involves IAC International Automotive India Private Limited, a 100% subsidiary of LATL
The appointed date for the Scheme of Amalgamation is fixed as October 1, 2025
No fresh shares will be issued by Lumax Auto Technologies as part of this merger
Consent received from 100% of equity shareholders and 92.83% of unsecured creditors of the transferor company
💼 Action for Investors
Investors should view this as a positive structural simplification that could lead to tax and operational synergies. Monitor for the final NCLT order and subsequent integration updates.
Thirumalai Chemicals Appoints K. Anand Kumar as President-Finance; Independent Director Resigns
Thirumalai Chemicals Limited has appointed Mr. K. Anand Kumar as President-Finance and Senior Management Personnel, effective February 14, 2026. Simultaneously, Independent Director Mr. Arun Alagappan has resigned effective March 31, 2026, citing increased professional commitments at his own organization. The board also approved the unaudited financial results for the quarter ended December 31, 2025. Auditor reports indicate that one subsidiary contributed a revenue of ₹749 lakhs with a net loss of ₹347 lakhs for the quarter.
Key Highlights
Appointment of Mr. K. Anand Kumar as President-Finance effective February 14, 2026.
Resignation of Independent Director Mr. Arun Alagappan effective March 31, 2026.
Approval of standalone and consolidated financial results for the quarter and nine months ended December 31, 2025.
One subsidiary reported a net loss of ₹347 lakhs on revenue of ₹749 lakhs for the December quarter.
The company maintains a network of 7 subsidiaries across Malaysia, Singapore, USA, Netherlands, and India.
💼 Action for Investors
Investors should monitor the transition in the finance leadership for any shifts in fiscal strategy. The management changes appear routine and the independent director's resignation is not linked to any material governance issues.
Sakuma Exports Q3 Standalone Net Profit Declines 33% YoY to ₹1.65 Crore
Sakuma Exports reported a weak year-on-year performance for Q3 FY26, with standalone revenue from operations falling 24.2% to ₹36,109.87 Lakhs. Standalone net profit for the quarter dropped 33.2% YoY to ₹165.24 Lakhs from ₹247.39 Lakhs in the previous year. While the company saw a strong sequential (QoQ) recovery in revenue and profit compared to Q2 FY26, the nine-month performance remains significantly lower than the previous year, with 9M net profit down 59%. The company also noted the implementation of New Labour Codes effective November 2025, though no material impact is currently expected.
Key Highlights
Standalone revenue from operations decreased 24.2% YoY to ₹36,109.87 Lakhs in Q3 FY26.
Standalone Net Profit for the quarter fell 33.2% YoY to ₹165.24 Lakhs.
Nine-month (9M FY26) standalone net profit witnessed a sharp decline of 59% to ₹366.26 Lakhs compared to ₹892.86 Lakhs in 9M FY25.
On a sequential basis, revenue grew 42% from ₹25,430.84 Lakhs in Q2 FY26.
Earnings Per Share (EPS) for the quarter stood at ₹0.01, down from ₹0.02 in the same quarter last year.
💼 Action for Investors
Investors should remain cautious as the significant YoY decline in revenue and profitability suggests margin pressure in the agro-trading business. Monitor the company's ability to sustain the sequential recovery seen this quarter before making new positions.
Thirumalai Chemicals Q3 PAT Rises 44% YoY to ₹10.52 Cr; New Finance Head Appointed
Thirumalai Chemicals reported a strong performance for the quarter ended December 31, 2025, with consolidated net profit rising 44% year-on-year to ₹10.52 crore. Consolidated revenue from operations grew by 9.2% to ₹504.82 crore compared to the same period last year. The company also announced the appointment of K. Anand Kumar as President-Finance to strengthen its senior management. While Independent Director Arun Alagappan resigned due to other professional commitments, the financial trajectory remains positive with sequential growth in both revenue and margins.
Key Highlights
Consolidated Revenue from operations increased to ₹504.82 crore in Q3 FY26 from ₹462.15 crore in Q3 FY25.
Consolidated Net Profit (PAT) grew 44.1% YoY to ₹10.52 crore from ₹7.30 crore.
Standalone PAT stood at ₹9.28 crore, reflecting a 45.4% growth compared to ₹6.38 crore in the previous year's quarter.
Appointed K. Anand Kumar as President-Finance and Senior Management Personnel effective February 14, 2026.
Independent Director Arun Alagappan resigned effective March 31, 2026, citing professional commitments elsewhere.
💼 Action for Investors
The company is demonstrating a healthy recovery in profitability and steady revenue growth. Investors should maintain a positive outlook while monitoring the impact of new leadership on financial strategy and operational efficiency.
Lumax Auto Tech Q3 Revenue Jumps 40% to ₹1,271 Cr; EBITDA Margins Expand to 15%
Lumax Auto Technologies reported a strong Q3 FY26 with revenue growing 40% YoY to ₹1,271 crore, marking its second consecutive quarter of record sales. The company's EBITDA margin improved by 100 bps to 15.0%, driven by robust growth in the IAC and Mechatronics segments. Management has revised its full-year growth guidance upward to 30% from the previous 25%. Additionally, the company outlined a 'Vision 20.20.20.20' strategy targeting a ₹10,860 crore revenue by FY31 with 20% EBITDA margins.
Key Highlights
Q3 FY26 revenue grew 40% YoY to ₹1,271 Cr, with 9M FY26 revenue reaching ₹3,453 Cr (up 38%)
EBITDA for Q3 FY26 rose 51% YoY to ₹191 Cr, with margins expanding to 15.0% from 14.0% YoY
The company maintains a robust order pipeline of ₹1,450 Cr, with 40% focused on future and clean mobility
Full-year revenue growth guidance for FY26 has been upgraded to 30% from the previous 25%
Long-term 'Vision 20.20.20.20' targets ₹10,860 Cr revenue and 20% EBITDA margins by FY31
💼 Action for Investors
Investors should note the upward revision in growth guidance and margin expansion as strong indicators of operational efficiency and successful integration of acquisitions. The focus on clean mobility and a high-value order book makes it a solid long-term play in the auto-ancillary sector.
Lumax Auto Tech Q3 FY26 Consolidated PAT Jumps 93% YoY to ₹108 Cr; Revenue Up 40%
Lumax Auto Technologies reported a strong performance for Q3 FY26, with consolidated revenue from operations growing 40.3% YoY to ₹1,270.66 crore. Consolidated Profit After Tax (PAT) saw a significant surge of 92.8% YoY, reaching ₹108.06 crore, partly aided by a deferred tax credit. The company recorded an exceptional expense of ₹14.95 crore due to the implementation of new Labour Codes. Additionally, the board approved a ₹30 crore channel financing facility with a 20% first-loss guarantee to support its partners.
Key Highlights
Consolidated revenue grew 40.3% YoY to ₹1,270.66 crore in Q3 FY26.
Consolidated PAT nearly doubled to ₹108.06 crore compared to ₹56.03 crore in the previous year's quarter.
Exceptional item of ₹14.95 crore (consolidated) recognized for the financial impact of new Labour Codes.
Board approved a First Loss Deficiency Guarantee (FLDG) for a ₹30 crore credit facility for channel partners.
The merger process of subsidiary IAC International Automotive India is progressing following NCLT's first motion approval.
💼 Action for Investors
Investors should view the strong top-line and bottom-line growth positively, though the PAT was boosted by a significant deferred tax credit. Monitor the progress of the IAC International merger and the long-term impact of the new labour codes on operating margins.
Uma Exports Q2 FY25: Revenue Rises 9% to ₹403 Cr, Swings to Net Loss of ₹1.23 Cr
Uma Exports reported a 9% year-on-year increase in revenue for Q2 FY25, reaching ₹403.40 crore. However, the company swung to a net loss of ₹1.23 crore for the quarter, compared to a profit of ₹0.20 crore in the same period last year. The half-year performance also deteriorated, showing a net loss of ₹87.07 lakhs against a profit of ₹481.70 lakhs in H1 FY24. A significant increase in finance costs, which doubled to ₹11.43 crore for the half-year, heavily pressured the bottom line.
Key Highlights
Revenue from operations grew 9% YoY to ₹40,339.97 Lakhs in Q2 FY25.
Net loss for Q2 FY25 stood at ₹123.03 Lakhs vs a profit of ₹20.37 Lakhs in Q2 FY24.
Finance costs for H1 FY25 surged to ₹1,142.87 Lakhs from ₹534.62 Lakhs YoY.
Half-year (H1 FY25) revenue declined to ₹70,336.02 Lakhs from ₹73,990.13 Lakhs.
Quarterly EPS turned negative at -₹0.38 compared to ₹0.06 in the previous year's quarter.
💼 Action for Investors
Investors should exercise caution as the company has moved into a loss-making phase despite marginal revenue growth, primarily due to rising interest burdens. Monitor the company's debt levels and operational efficiency in the next few quarters before making new commitments.
Lumax Industries Q3FY26: Highest-ever Revenue of ₹1,053 Cr, EBITDA Surges 57% YoY
Lumax Industries reported its highest-ever quarterly revenue of ₹1,053 crore for Q3FY26, marking an 18.7% YoY growth. EBITDA saw a significant jump of 57.2% to ₹112 crore, with margins expanding by 260 bps to 10.6% due to operational efficiencies and premiumization. Profit After Tax (PAT) grew by 39.1% YoY to ₹47 crore, even after accounting for an exceptional item of ₹15.9 crore related to labor code notifications. The company's shift toward LED lighting, which now accounts for 61% of revenue, continues to drive profitability.
Key Highlights
Highest-ever quarterly revenue of ₹1,053 crore, up 18.7% YoY and 4.4% QoQ.
EBITDA grew 57.2% YoY to ₹112 crore with margins expanding to 10.6% from 8.0% YoY.
LED lighting now contributes 61% of total revenue, up from conventional lighting at 39%.
Passenger Vehicle segment remains the primary driver, contributing 65% of total revenues.
9M FY26 revenue reached ₹2,984 crore, a 20.5% increase over the same period last year.
💼 Action for Investors
Investors should note the strong margin expansion and the successful transition to high-margin LED products. The company's record revenue and robust order pipeline from major OEMs like Tata Motors and TVS make it a strong contender in the auto-ancillary space.
Lumax Industries Q3 FY26 Presentation: ₹3,400 Cr Revenue and 21% 3-Year CAGR
Lumax Industries reported a robust financial performance for FY25, achieving a revenue of ₹3,400 crore with a 21% CAGR over the last three years. The company maintains healthy profitability with EBITDA margins exceeding 8.5% and a Return on Capital Employed (RoCE) above 12%. With a strategic capex of over ₹200 crore and 12 manufacturing facilities, Lumax continues to serve as a Tier I supplier to all major Indian OEMs. The company's joint venture, SL Lumax, also showed significant scale with FY25 revenues of ₹3,008 crore.
Key Highlights
Achieved ₹3,400 crore revenue in FY25 with a 21% CAGR over the last three years.
Maintains strong financial health with EBITDA margins >8.5% and RoCE >12%.
Invested over ₹200 crore in capex to support 12 manufacturing plants and 4 R&D/Design centers.
SL Lumax Limited, the partnership entity for Hyundai, recorded FY25 revenue of ₹3,008 crore.
Strong focus on innovation with 5 patents awarded and 20 filed for advanced lighting technologies.
💼 Action for Investors
Investors should monitor the company's transition to LED and electronic lighting solutions, which offer higher margins. The strong OEM relationships and technology support from Stanley and SL Corporation provide a competitive moat in the evolving automotive sector.
Lumax Industries Q3 FY26 Standalone Net Profit Surges 131% YoY to ₹51.37 Cr
Lumax Industries reported a robust performance for Q3 FY26, with standalone revenue from operations growing 18.7% YoY to ₹1,052.72 crore. Standalone Net Profit saw a significant jump of 131% YoY to ₹51.37 crore, despite an exceptional charge of ₹15.86 crore related to the implementation of new Government Labour Codes. The company also announced the retirement of Mr. Alok Verma, Senior VP of Projects and Manufacturing Support, due to superannuation. Overall, the company shows strong operational efficiency with a substantial increase in earnings per share from ₹23.75 to ₹54.95 YoY.
Key Highlights
Standalone Revenue from operations rose to ₹1,052.72 crore in Q3 FY26 from ₹887.08 crore in Q3 FY25.
Standalone Net Profit for the quarter ended Dec 31, 2025, stood at ₹51.37 crore versus ₹22.20 crore in the previous year's corresponding quarter.
An exceptional item of ₹15.86 crore was recorded during the quarter to account for the impact of the four new Labour Codes notified by the Government.
Consolidated Net Profit for the nine-month period ended Dec 31, 2025, reached ₹118.37 crore, up from ₹85.93 crore in the same period last year.
Senior Management Personnel Mr. Alok Verma retired effective close of business hours on November 30, 2025.
💼 Action for Investors
Investors should view the strong bottom-line growth positively, though they should monitor the long-term impact of the new labour codes on operating costs. The stock remains a key play in the automotive lighting segment with improving profitability metrics.
Lumax Industries Q3 FY26 Consolidated Net Profit Rises 39% YoY to ₹46.55 Crore
Lumax Industries reported a strong performance for Q3 FY26, with consolidated revenue growing 18.6% YoY to ₹1,052.72 crore. Net profit for the quarter surged 39% YoY to ₹46.55 crore, even after accounting for an exceptional charge of ₹15.86 crore related to the new Labour Code assessment. The company's EPS improved significantly to ₹49.79 from ₹35.82 in the same quarter last year. Operational performance remains robust with 9M FY26 revenue reaching ₹2,983.84 crore.
Key Highlights
Consolidated Revenue from operations grew 18.6% YoY to ₹1,052.72 crore in Q3 FY26.
Consolidated Net Profit increased by 39% YoY to ₹46.55 crore compared to ₹33.48 crore in Q3 FY25.
Earnings Per Share (EPS) rose to ₹49.79 in Q3 FY26 from ₹35.82 in the year-ago period.
Recorded an exceptional item of ₹15.86 crore due to the impact assessment of new Government Labour Codes.
Nine-month (9M FY26) consolidated revenue reached ₹2,983.84 crore, up from ₹2,477.02 crore YoY.
💼 Action for Investors
Investors should note the strong double-digit growth in both top-line and bottom-line figures, indicating healthy demand in the automotive lighting segment. The stock remains a solid play on the Indian auto-ancillary recovery with improving profitability margins.
Sandur Manganese to Early Redeem ₹423 Crore NCDs with 11% Interest Rate
Sandur Manganese & Iron Ores Limited has announced the early voluntary redemption of 45,000 listed Non-Convertible Debentures (NCDs). The total value of the redemption amounts to ₹423 crore, targeting debt that carries a high interest rate of 11% per annum. The company has scheduled the payment for March 9, 2026, with a record date of February 22, 2026. This move indicates a strong liquidity position and a strategic focus on reducing interest expenses to improve profitability.
Key Highlights
Early redemption of 45,000 secured, listed NCDs with a face value of ₹94,000 each.
Total aggregate redemption value amounts to ₹423 crore.
Elimination of high-cost debt carrying an 11% annual interest rate.
Redemption payment date set for March 9, 2026, with a record date of February 22, 2026.
The NCDs were originally allotted on October 25, 2024.
💼 Action for Investors
Investors should view this as a positive sign of the company's robust cash flow and commitment to deleveraging. The reduction in interest outgo is expected to be accretive to the company's bottom line in the coming quarters.