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Uravi Defence Disinvests 50.01% Stake in SKL India; Subsidiary Status Ceases
Uravi Defence and Technology Limited has completed the transfer of its 50.01% shareholding in SKL India (Private) Limited to Mr. Krishnakumar Bhatia and Mrs. Bhavna Bhatia. This disinvestment follows shareholder approval at the Extra-Ordinary General Meeting held on March 02, 2026. As a result, SKL India has ceased to be a subsidiary of the company. Additionally, directors Niraj Gada and Niken Shah have resigned from the board of SKL effective March 02, 2026.
Key Highlights
Transferred 50.01% equity stake in SKL India (Private) Limited to the Bhatia family.
SKL India (Private) Limited has officially ceased to be a subsidiary of Uravi Defence.
Disinvestment was approved by shareholders in the EGM held on March 02, 2026.
Resignation of Niraj Gada (Promoter/Director) and Niken Shah (Independent Director) from SKL board.
💼 Action for Investors
Investors should monitor the company's upcoming financial statements to assess the impact of this divestment on consolidated revenue and the utilization of sale proceeds.
Uravi Defence Approves 50.01% Stake Sale in Subsidiary SKL India at EGM
Uravi Defence and Technology Limited held an Extraordinary General Meeting on March 02, 2026, to approve the divestment of its material subsidiary. The company received shareholder approval to sell its 50.01% stake in SKL India Private Limited to the subsidiary's promoters, Krishna Kumar Bhatia and Bhavna Bhatia. This transaction is a material related party transaction and marks a significant change in the company's asset structure. Additionally, the company appointed M/S Viren Gandhi & Co as the new Statutory Auditors to fill a casual vacancy.
Key Highlights
Approved the disinvestment of a 50.01% controlling stake in material subsidiary SKL India Private Limited.
The stake is being transferred to SKL promoters Mr. Krishna Kumar Bhatia and Mrs. Bhavna Bhatia as a related party transaction.
Appointed M/S Viren Gandhi & Co as Statutory Auditors following the resignation of M/s GBCA & Associates LLP.
The EGM was conducted via Video Conferencing and concluded with three major resolutions including one special resolution.
💼 Action for Investors
Investors should closely monitor the valuation at which the 50.01% stake in SKL India is being sold to ensure it is at arm's length. Assess the impact of this divestment on the company's consolidated revenue and future growth strategy in the defence sector.
Uravi Defence to Disinvest 50.01% Stake in Material Subsidiary SKL India
Uravi Defence and Technology Limited held an EGM on March 02, 2026, to approve the disinvestment of its 50.01% stake in SKL India Private Limited. This material subsidiary stake will be sold to the promoters of SKL, Krishna Kumar Bhatia and Bhavna Bhatia, making it a related party transaction. The company also confirmed the appointment of M/S Viren Gandhi & Co as Statutory Auditors to fill a casual vacancy. These moves indicate a significant restructuring of the company's portfolio and oversight.
Key Highlights
Proposed disinvestment of 50.01% shareholding in material subsidiary SKL India Private Limited
Transaction involves transferring shares to SKL's promoters, classified as a material related party transaction
Appointment of M/S Viren Gandhi & Co as Statutory Auditors to fill the vacancy left by GBCA & Associates LLP
The EGM was held on March 02, 2026, concluding at 4:55 P.M. IST
💼 Action for Investors
Closely evaluate the financial impact of losing SKL India's revenue and the fairness of the sale price to the promoters. Watch for official voting results and further disclosures regarding the use of disinvestment proceeds.
Uravi Defence Subsidiary Acquires 10% Stake in Spafax International for 340,000 GBP
Uravi Defence and Technology Limited's wholly-owned subsidiary, Bharat Technology Limited, has acquired a 10% stake in Spafax International Holdings Limited. The transaction involved the acquisition of 1,010 shares for a total consideration of 340,000 GBP. This acquisition follows an initial intimation made in June 2025, marking a strategic international investment for the group. The move signifies the company's intent to expand its global footprint through its subsidiary.
Key Highlights
Subsidiary Bharat Technology Limited acquired 1,010 shares of Spafax International Holdings.
The acquisition represents a 10% equity stake in the target company.
Total investment consideration for the stake is 340,000 GBP.
The transaction is a follow-through on a strategic plan first intimated on June 25, 2025.
💼 Action for Investors
Investors should monitor how this strategic 10% stake in Spafax contributes to Uravi's consolidated performance and look for further updates on international synergies. The stock remains a watch for those interested in the defence and technology sector's global expansion plays.
Uravi Defence Q3 Standalone Profit Up 21% YoY to ₹33.32 Lakhs; Internal Auditors Re-appointed
Uravi Defence and Technology reported a standalone net profit of ₹33.32 Lakhs for the quarter ended December 31, 2025, marking a 21.1% increase year-on-year. Total income for the quarter stood at ₹1,067.84 Lakhs, showing marginal growth compared to ₹1,038.74 Lakhs in the same period last year. Notably, the company failed to provide consolidated results as financial data from its subsidiary, SKL (India) Private Limited, was not received. The board also approved the re-appointment of M/s V. J. Shah & Co. as Internal Auditors for FY 2026-27.
Key Highlights
Standalone Net Profit increased 21.1% YoY to ₹33.32 Lakhs in Q3 FY26.
Total Income for the quarter rose slightly to ₹1,067.84 Lakhs from ₹1,038.74 Lakhs YoY.
Consolidated financial results were not prepared due to missing data from subsidiary SKL (India) Private Limited.
Subsidiary SKL (India) is classified as 'held for sale' with ₹1,125.20 Lakhs received as an advance for the disposal.
M/s V. J. Shah & Co. re-appointed as Internal Auditors for the 2026-27 financial year.
💼 Action for Investors
Investors should exercise caution regarding the lack of consolidated financial data and monitor the successful completion of the SKL (India) subsidiary sale. The standalone performance remains stable but shows limited sequential growth.
Uravi Defence Q3 FY26 Standalone Net Profit Rises 21% YoY to ₹33.32 Lakhs
Uravi Defence and Technology reported a standalone total income of ₹1,067.84 Lakhs for Q3 FY26, a slight increase from ₹1,038.74 Lakhs in the same quarter last year. Standalone net profit grew 21% year-on-year to ₹33.32 Lakhs, although it declined sequentially from ₹39.61 Lakhs in Q2 FY26. The company was unable to present consolidated results due to missing financial data from its subsidiary, SKL (India) Private Limited, which is currently classified as held for sale. An advance of ₹1,125.20 Lakhs has already been received for the proposed disposal of this subsidiary.
Key Highlights
Standalone Total Income for Q3 FY26 stood at ₹1,067.84 Lakhs compared to ₹1,038.74 Lakhs in Q3 FY25.
Net Profit increased to ₹33.32 Lakhs from ₹27.50 Lakhs in the previous year's corresponding quarter.
Investment in subsidiary SKL (India) Private Limited is held for sale with ₹1,125.20 Lakhs received as advance.
Company wrote off ₹907.50 Lakhs in balance share warrants during FY 2025-26 after partial conversion.
M/s V J Shah & Co. re-appointed as Internal Auditors for the 2026-27 financial year.
💼 Action for Investors
Investors should monitor the finalization of the subsidiary sale and the subsequent impact on the balance sheet. The lack of consolidated reporting this quarter suggests a need for closer scrutiny of the company's oversight of its subsidiaries.
Uravi Defence Delays Q3 FY26 Results Due to Non-Cooperation from Subsidiary SKL (India)
Uravi Defence and Technology Limited has informed the exchanges that it is unable to finalize its consolidated financial results for the quarter ended December 31, 2025. The delay is caused by its subsidiary, SKL (India) Private Limited, which has failed to provide necessary financial records and supporting documents despite repeated follow-ups. This lack of data prevents the company from complying with SEBI reporting requirements and applicable accounting standards. Such internal friction between a parent and its subsidiary is a significant governance concern for shareholders.
Key Highlights
Consolidated financial results for the quarter ended December 31, 2025, are currently on hold.
Subsidiary SKL (India) Private Limited has not provided required financial information despite multiple follow-ups.
The company cited SEBI Circular CIR/CFD/CMD-1/142/2018 regarding the disclosure of reasons for delayed results.
Management is currently unable to prepare accounts in accordance with regulatory requirements due to missing data.
💼 Action for Investors
Investors should remain cautious as the inability to obtain data from a subsidiary suggests potential internal governance or management control issues. Monitor for updates on when the results will be declared and any potential regulatory penalties for the delay.
Uravi Defence to Disinvest 50.01% Stake in SKL India for ₹11.25 Cr; EGM on March 02
Uravi Defence and Technology Limited has called for an Extraordinary General Meeting (EGM) on March 02, 2026, to approve the disinvestment of its 50.01% stake in its material subsidiary, SKL India Private Limited. The stake is proposed to be sold to the promoters of SKL India for a minimum consideration of ₹11.25 crore. Additionally, the company seeks to appoint M/s Viren Gandhi & Co as the new Statutory Auditors following the resignation of M/s GBCA & Associates LLP. This disinvestment is classified as a material related party transaction requiring shareholder approval.
Key Highlights
Proposed disinvestment of 50.01% shareholding in material subsidiary SKL India Private Limited.
Minimum sale consideration fixed at ₹11,25,19,540 to be paid by the acquirers (promoters of SKL).
Appointment of M/s Viren Gandhi & Co as Statutory Auditors to fill the casual vacancy until the 2026 AGM.
EGM scheduled for March 02, 2026, with remote e-voting available from February 27 to March 01, 2026.
💼 Action for Investors
Investors should monitor the rationale behind the auditor's resignation and the intended use of the ₹11.25 crore proceeds from the subsidiary sale. It is important to assess whether the sale price represents a fair valuation for a 'material' subsidiary.
Uravi Defence to Divest 50.01% Stake in SKL India for Rs 11.25 Crore
Uravi Defence and Technology Limited has approved the sale of its 50.01% stake in its material subsidiary, SKL India (Private) Limited. The transaction is valued at approximately Rs 11.25 crore, which aligns with the original investment amount. SKL India contributed 5.24% to Uravi's total turnover and a minimal 0.15% to its net worth in FY25. The sale is a related party transaction to the promoters of SKL and is expected to be completed by April 30, 2026, subject to shareholder approval.
Key Highlights
Divesting 50.01% shareholding in material subsidiary SKL India (Private) Limited
Expected consideration of at least Rs 11.25 crore, matching the original investment cost
SKL India contributed Rs 228.71 lakhs (5.24%) to total revenue in FY 2024-25
Transaction involves related parties and is expected to close by April 30, 2026
SKL India's contribution to Uravi's net worth was minimal at 0.15% (Rs 7.18 lakhs)
💼 Action for Investors
Investors should monitor how the company redeploys the Rs 11.25 crore cash inflow into its core defence and technology operations. The exit from a unit with negligible net worth contribution suggests a move toward streamlining the balance sheet.
Uravi Defence Converts 4 Lakh Warrants to Equity; 11 Lakh Warrants Expire
Uravi Defence and Technology Limited has concluded its warrant exercise period which ended on December 12, 2025. Out of the 15,00,000 warrants originally approved in June 2025, only 4,00,000 warrants were converted into equity shares. The remaining 11,00,000 warrants have lapsed, meaning the company will not receive the additional capital associated with those units. This represents a significant portion of the planned fundraise that did not materialize.
Key Highlights
Allotment of 4,00,000 equity shares following successful warrant conversion.
11,00,000 warrants lapsed due to the expiry of the 18-month exercise period.
The original issuance of 15,00,000 warrants was approved via circular resolution on June 13, 2025.
Only 26.6% of the total warrants issued were eventually converted into equity.
💼 Action for Investors
Investors should evaluate the company's liquidity position as the lapse of 11 lakh warrants indicates a shortfall in expected capital. The low conversion rate might suggest that the market price remained below the warrant exercise price during the window.
Uravi Defence Appoints M/s Viren Gandhi & Co as Statutory Auditor to Fill Casual Vacancy
Uravi Defence and Technology Limited has appointed M/s Viren Gandhi & Co as its new Statutory Auditor effective December 10, 2025. This appointment is intended to fill the casual vacancy created by the resignation of the previous auditor, M/s GBCA & Associates LLP, on November 11, 2025. The new auditor will serve until the conclusion of the 22nd Annual General Meeting, subject to shareholder approval within three months. M/s Viren Gandhi & Co is a peer-reviewed firm with expertise in IND AS, statutory audits, and taxation.
Key Highlights
Appointment of M/s Viren Gandhi & Co (FRN: 111558W) effective from December 10, 2025.
Fills casual vacancy following the resignation of M/s GBCA & Associates LLP on November 11, 2025.
Appointment requires shareholder approval at a general meeting within three months.
The new auditor will hold office until the conclusion of the company's 22nd Annual General Meeting.
💼 Action for Investors
Investors should note the change in auditors and monitor for any disclosures regarding the reasons for the previous auditor's resignation. The prompt appointment of a peer-reviewed firm is a standard governance procedure.