India Cements Capital Ltd (511355)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, India Cements' net interest income was ₹1.2 Cr (-12.1% year on year, -0.9% on the previous quarter), and net profit ₹0.0 Cr (-86.2% year on year).
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Net interest income | ₹1.2 | -12.1% | -0.9% |
| Operating profit | ₹0.0 | — | — |
| Net profit | ₹0.0 | -86.2% | from loss |
| EPS (₹) | 0.01 | -87.5% | from loss |
📢 Recent Corporate Announcements
India Cements Capital has received approval from the Reserve Bank of India (RBI) via its PRAVAAH portal on September 30, 2026, for a change in management control and ownership exceeding 50%. The company, registered as an Authorized Dealer (Category-II) and NBFC, was mandated to obtain prior RBI approval for ownership transfer following an Open Offer initiated under the Draft Letter of Offer (DLOF) dated August 7, 2026. The approval marks a key regulatory milestone in clearing the pending Open Offer process for public shareholders.
- RBI granted approval via PRAVAAH application PRV.CO.FED.2026-2027.P783 on September 30, 2026
- Approval covers change in management control or ownership of more than 50%
- Company originally applied to the RBI electronically on August 26, 2026
- Clearance follows the Draft Letter of Offer (DLOF) filed on August 7, 2026, for an Open Offer to public shareholders
India Cements Capital Limited has submitted its 40th Annual Report for FY26 along with the notice for its Annual General Meeting (AGM) scheduled for September 15, 2026. Key shareholder resolutions include the reappointment of Sri V. Manickam as a Non-Executive Director beyond the age of 75 and the reappointment of Sri K. Suresh as Manager at a remuneration of Rs 2.50 lakh per month. For FY26, total revenue from operations stood at Rs 5.01 crore (50,128 thousand rupees) compared to Rs 5.59 crore in FY25.
- 40th Annual General Meeting scheduled for September 15, 2026, via Video Conferencing.
- Proposed reappointment of Sri K. Suresh as Manager from 01.10.2026 to 30.09.2027 at Rs 2,50,000 per month.
- Special resolution proposed for continuation of Sri V. Manickam as Director after turning 75 on April 1, 2027.
- FY26 total revenue from operations reported at Rs 5.01 crore compared to Rs 5.59 crore in FY25.
India Cements Capital has received a Draft Letter of Offer (DLOF) for an open offer to acquire up to 56,43,612 shares (26% stake) at ₹12 per share. The offer is initiated by individual acquirers Sandeep Jain, Vikas Garg, and Rahul Nagar following a Share Purchase Agreement with existing promoters. The offer price of ₹12 is a significant discount (~48.5%) to the current market price of ₹23.3, making retail acceptance unlikely at current levels. This transaction signals a complete change in management and control for the small-cap NBFC.
- Offer price of ₹12 per share is a steep discount to the current market price of ₹23.3
- Acquisition target of 56,43,612 shares represents 26% of the total voting share capital
- Acquirers have deposited ₹1.70 Cr in an escrow account with YES Bank as per SEBI regulations
- Tendering period is tentatively scheduled to open on September 17, 2026, and close on September 30, 2026
- The offer follows a Share Purchase Agreement (SPA) executed on July 24, 2026, for a change in control
A group of individual acquirers (Sandeep Jain, Vikas Garg, Rahul Nagar, and Neha Agarwal) has filed a Draft Letter of Offer to acquire up to 56,43,612 shares, representing a 26% stake in India Cements Capital Ltd. The offer price is set at ₹12 per share, which is a significant 47% discount to the current market price of ₹22.8. This mandatory open offer follows a Share Purchase Agreement (SPA) with the existing promoters, signaling a complete change in control and management of the company.
- Acquisition of up to 56,43,612 equity shares representing 26% of the voting share capital
- Offer price fixed at ₹12 per share, significantly below the current market price of ₹22.8
- Escrow deposit of ₹1.70 Cr maintained with YES Bank to fulfill offer obligations
- Tendering period scheduled to open on September 17, 2026, and close on September 30, 2026
- Change in control triggered by a Share Purchase Agreement dated July 24, 2026
India Cements Capital has scheduled its Annual General Meeting (AGM) for September 15, 2026, via video conferencing. The Board has approved the reappointment of Mr. K. Suresh as Manager/CEO for a one-year term effective October 1, 2026, ensuring leadership continuity. Additionally, the company set September 8, 2026, as the cut-off date for e-voting eligibility. This comes as the micro-cap NBFC (Market Cap: ₹47 Cr) seeks to manage its operations following a loss-making FY26 where it reported a net loss of ₹0.45 Cr on revenue of ₹5.2 Cr.
- Annual General Meeting (AGM) scheduled for 15.09.2026 via VC/OAVM
- CEO K. Suresh reappointed for a one-year term from 01.10.2026 to 30.09.2027
- Cut-off date for e-voting eligibility set as 08.09.2026
- Book closure period defined from 09.09.2026 to 15.09.2026
- Director V. Manickam to continue as Non-Executive Director after attaining 75 years on 01.04.2027
India Cements Capital has scheduled its Annual General Meeting (AGM) for September 15, 2026. The Board has approved the reappointment of Mr. K. Suresh as Manager/CEO for a one-year term effective October 1, 2026, ensuring leadership continuity. Additionally, the Board recommended the continuation of Mr. V. Manickam as a Non-Executive Director beyond the age of 75. These administrative steps come as the company manages a small-scale operation with TTM revenue of Rs 5 Cr and a net loss of Rs 0.45 Cr in FY26.
- Annual General Meeting (AGM) scheduled for 15.09.2026 via Video Conferencing.
- Mr. K. Suresh reappointed as Manager/CEO for a period from 01.10.2026 to 30.09.2027.
- Cut-off date for determining e-voting eligibility set as 08.09.2026.
- Register of Members to remain closed from 09.09.2026 to 15.09.2026.
- Mr. V. Manickam proposed for continuation as Director after attaining age 75 on 01.04.2027.
India Cements Capital has approved the reappointment of Mr. K. Suresh as Manager/CEO for a one-year term from October 1, 2026, to September 30, 2027. The board also recommended the reappointment of Mr. V. Manickam as a Non-Executive Director, including his continuation past the age of 75 in April 2027. The Annual General Meeting (AGM) is scheduled for September 15, 2026, with a voting cut-off date of September 8, 2026. These administrative steps maintain leadership continuity for the micro-cap NBFC, which reported a TTM revenue of Rs 5 Cr.
- Reappointment of Mr. K. Suresh as Manager/CEO for a term starting 01.10.2026 to 30.09.2027
- Annual General Meeting (AGM) to be held on 15.09.2026 via Video Conferencing
- Cut-off date for e-voting eligibility set as 08.09.2026
- Mr. V. Manickam (74) to continue as Director after attaining age 75 on 01.04.2027
- Company reported a net loss of Rs 0.39 Cr for the quarter ended March 2026
India Cements Capital has scheduled its Annual General Meeting (AGM) for September 15, 2026, to be conducted via video conferencing. The Board has approved the reappointment of Mr. K. Suresh as Manager/CEO for a one-year term effective October 1, 2026, to September 30, 2027. Additionally, the reappointment of Mr. V. Manickam as a Non-Executive Director was approved, including his continuation beyond the age of 75 years starting April 2027. The register of members will remain closed from September 9 to September 15, 2026, for voting eligibility purposes.
- Annual General Meeting (AGM) scheduled for 15.09.2026 via Video Conferencing.
- Reappointment of Mr. K. Suresh as CEO for a period from 01.10.2026 to 30.09.2027.
- Cut-off date for e-voting eligibility set as 08.09.2026.
- Book closure period defined from 09.09.2026 to 15.09.2026 inclusive.
- Approval for Mr. V. Manickam to continue as Director after attaining 75 years of age on 01.04.2027.
India Cements Capital reported a standalone net profit of Rs 0.06 Cr for Q1 FY27, recovering from a loss of Rs 0.39 Cr in the previous quarter. The company announced a major change in control as promoters signed a Share Purchase Agreement on July 24, 2026, to sell their entire 50.02% stake to new acquirers. An open offer for an additional 26% stake has been launched at Rs 12 per share, which is a significant discount to the current market price of Rs 22.4. Total standalone income for the quarter stood at Rs 1.27 Cr, down from Rs 1.74 Cr in the same period last year.
- Promoters to sell entire holding of 1,08,58,186 shares (50.02% stake) to new acquirers
- Open offer announced for 56,43,612 shares (26% stake) at a price of Rs 12 per share
- Standalone Q1 net profit of Rs 0.06 Cr vs a loss of Rs 0.39 Cr in the preceding quarter
- Standalone revenue from operations decreased to Rs 1.27 Cr from Rs 1.74 Cr YoY
- Consolidated total income for Q1 FY27 reported at Rs 1.38 Cr
India Cements Capital has announced a complete exit by its current promoters, who signed a Share Purchase Agreement on July 24, 2026, to sell their entire 50.02% stake (1.08 crore shares) to new acquirers. Consequently, an open offer has been triggered for an additional 26% stake at Rs 12 per share, which is a significant discount to the current market price of Rs 22.4. Financially, the company saw a weak Q1 FY27, with consolidated net profit falling 86% YoY to just Rs 2.48 Lakhs on a revenue of Rs 1.25 Cr.
- Promoters to sell entire 50.02% stake (1,08,58,186 shares) to Mr. Sandeep Jain, Mr. Vikas Garg, and Mr. Rahul Nagar
- Open offer launched for 26% additional stake (56,43,612 shares) at a price of Rs 12 per share
- Consolidated Net Profit for Q1 FY27 declined to Rs 2.48 Lakhs from Rs 18.15 Lakhs in the previous year
- Consolidated Revenue from operations stood at Rs 124.97 Lakhs, down from Rs 142.14 Lakhs YoY
- Total consolidated expenses for the quarter were Rs 134.29 Lakhs against a total income of Rs 138.82 Lakhs
Acquirers Mr. Sandeep Jain, Mr. Vikas Garg, and Mr. Rahul Nagar have issued a Detailed Public Statement (DPS) for an open offer to acquire up to 56,43,612 equity shares of India Cements Capital Ltd. This represents approximately 27% of the company's total share capital, triggered under SEBI Takeover Regulations. The company is a small NBFC with a market cap of Rs 43 crore and a TTM revenue of just Rs 5 crore. This move indicates a potential change in management control or a significant shift in the promoter group.
- Open offer for acquisition of up to 56,43,612 equity shares from public shareholders
- Acquirers identified as Mr. Sandeep Jain, Mr. Vikas Garg, and Mr. Rahul Nagar
- Offer size represents approximately 27.2% of the total equity based on current market cap of Rs 43 Cr
- Detailed Public Statement published on July 31, 2026, in major newspapers including Financial Express
- Company reported a TTM revenue of Rs 5 Cr and a net loss of Rs 0.45 Cr for FY26
India Cements Capital Ltd has received a Detailed Public Statement for an open offer to acquire up to 56,43,612 equity shares, representing 26% of the company's capital. The offer is being made by Mr. Sandeep Jain, Mr. Vikas Garg, and Mr. Rahul Nagar, indicating a potential change in control or significant ownership shift. This comes as the company reported a small net profit of Rs 0.04 Cr for the June 2026 quarter on a total income of Rs 1.48 Cr. Given the company's small market cap of Rs 43 Cr, this acquisition is highly material.
- Open offer launched for 56,43,612 equity shares representing 26% of the total share capital
- Acquisition led by three individuals: Mr. Sandeep Jain, Mr. Vikas Garg, and Mr. Rahul Nagar
- Company reported a total income of Rs 1.48 Cr for the quarter ended June 30, 2026
- Net profit for the June 2026 quarter stood at Rs 0.04 Cr, recovering from a loss of Rs 0.39 Cr in the March 2026 quarter
- Paid-up equity share capital of the company stands at Rs 21.71 Cr as of June 30, 2026
India Cements Capital Ltd has scheduled a board meeting for August 5, 2026, to review and approve its standalone and consolidated unaudited financial results for the quarter ended June 30, 2026. The company is a micro-cap NBFC with a market capitalization of Rs 42 Cr and reported a TTM revenue of Rs 5 Cr. This meeting follows a fiscal year (FY26) where the company reported a net loss of Rs 0.45 Cr. The trading window for insiders is currently closed and will remain so until August 7, 2026.
- Board meeting scheduled for August 5, 2026, to approve Q1 FY27 results
- Trading window for dealing in shares closed from July 1, 2026, to August 7, 2026
- Financial results to be published in English and Tamil dailies on August 7, 2026
- Company reported a net loss of Rs 0.39 Cr in the most recent quarter ended March 2026
Sri Saradha Logistics, the promoter of India Cements Capital, has entered into a Share Purchase Agreement (SPA) to sell its entire 50.02% stake (1,08,58,186 shares) to three individual acquirers: Sandeep Jain, Vikas Garg, and Rahul Nagar. This transaction triggers a mandatory Open Offer to public shareholders under SEBI (SAST) Regulations. The deal will result in a complete change of control and management, pending regulatory approvals including from the Reserve Bank of India. Given the company's small scale with TTM revenue of only Rs 5 Cr, this change in leadership is highly material.
- Promoter selling 1,08,58,186 equity shares, representing 100% of their 50.02% holding.
- Three individual acquirers to take over control and will be reclassified as new Promoters.
- Mandatory Open Offer triggered for public shareholders as per SEBI (SAST) Regulations.
- Transaction is subject to RBI approval due to the company's NBFC status.
- Company is a micro-cap with a market capitalization of approximately Rs 40 Cr and TTM revenue of Rs 5 Cr.
A group of individual acquirers (Sandeep Jain, Vikas Garg, and Rahul Nagar) has entered into a Share Purchase Agreement (SPA) to acquire a 50.02% controlling stake in India Cements Capital from the current promoter, Sri Saradha Logistics, at ₹12 per share. This transaction has triggered a mandatory open offer to public shareholders for an additional 26% stake (56.43 lakh shares) at the same price of ₹12 per share. The total consideration for the 50.02% stake is ₹13.03 Cr, which is approximately 32.5% of the company's current market capitalization. Notably, the offer price of ₹12 represents a significant discount of approximately 37% to the current market price of ₹19.1.
- Acquisition of 1,08,58,186 shares (50.02% stake) by new acquirers via SPA at ₹12 per share
- Mandatory open offer triggered for 56,43,612 shares (26.00% of voting capital) at ₹12 per share
- Total SPA transaction value of ₹13.03 Cr compared to a market cap of ₹40 Cr
- Offer price of ₹12 is a ~37% discount to the current market price of ₹19.1
- The transaction requires prior approval from the Reserve Bank of India (RBI) as the company is an Authorised Dealer Category-II
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