Glittek Granites Ltd (513528)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Glittek Granites' revenue was ₹7.2 Cr, and net profit ₹0.1 Cr (+0.0% year on year); the operating margin was 11.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹7.2 | — | — |
| Operating profit | ₹0.8 | from loss | from loss |
| Net profit | ₹0.1 | +0.0% | -80.8% |
| EPS (₹) | 0.02 | +0.0% | -80.0% |
| Operating margin | 11.6% | — | — |
📢 Recent Corporate Announcements
Shareholders of Glittek Granites approved multiple major corporate changes at its 36th AGM on September 22, 2026. These include shifting the registered office from Bengaluru (Karnataka) to Mumbai (Maharashtra), and changing the company name to 'Rawmin Neo Elements Limited' alongside altering its Main Objects Clause to pursue new business activities. Additionally, the company regularized appointments for its leadership team, including Maheshkumar J. Thanki as Chairperson and Bhargav G. Thanki as Managing Director for 5-year terms effective June 25, 2026.
- Approved shifting of registered office from Karnataka (Bengaluru) to Maharashtra (Mumbai), subject to Regional Director approval
- Shareholder approval granted to change company name to 'Rawmin Neo Elements Limited' subject to Central Registration Centre/MCA approval
- Appointed Maheshkumar Jatashankar Thanki as Chairperson/Whole-Time Director and Bhargav Girjashankar Thanki as MD for 5 years effective June 25, 2026
- Appointed M/s R. R. Tibrewala & CO. as Statutory Auditors for a 5-year term from 36th AGM to 41st AGM
- Altered the Main Objects Clause of the Memorandum of Association to align with upcoming business activities
Shareholders of Glittek Granites approved multiple major corporate changes at its 36th AGM on September 22, 2026. These include shifting the registered office from Bengaluru (Karnataka) to Mumbai (Maharashtra), and changing the company name to 'Rawmin Neo Elements Limited' alongside altering its Main Objects Clause to pursue new business activities. Additionally, the company regularized appointments for its leadership team, including Maheshkumar J. Thanki as Chairperson and Bhargav G. Thanki as Managing Director for 5-year terms effective June 25, 2026.
- Approved shifting of registered office from Karnataka (Bengaluru) to Maharashtra (Mumbai), subject to Regional Director approval
- Shareholder approval granted to change company name to 'Rawmin Neo Elements Limited' subject to Central Registration Centre/MCA approval
- Appointed Maheshkumar Jatashankar Thanki as Chairperson/Whole-Time Director and Bhargav Girjashankar Thanki as MD for 5 years effective June 25, 2026
- Appointed M/s R. R. Tibrewala & CO. as Statutory Auditors for a 5-year term from 36th AGM to 41st AGM
- Altered the Main Objects Clause of the Memorandum of Association to align with upcoming business activities
Shareholders of Glittek Granites approved multiple major corporate changes at its 36th AGM on September 22, 2026. These include shifting the registered office from Bengaluru (Karnataka) to Mumbai (Maharashtra), and changing the company name to 'Rawmin Neo Elements Limited' alongside altering its Main Objects Clause to pursue new business activities. Additionally, the company regularized appointments for its leadership team, including Maheshkumar J. Thanki as Chairperson and Bhargav G. Thanki as Managing Director for 5-year terms effective June 25, 2026.
- Approved shifting of registered office from Karnataka (Bengaluru) to Maharashtra (Mumbai), subject to Regional Director approval
- Shareholder approval granted to change company name to 'Rawmin Neo Elements Limited' subject to Central Registration Centre/MCA approval
- Appointed Maheshkumar Jatashankar Thanki as Chairperson/Whole-Time Director and Bhargav Girjashankar Thanki as MD for 5 years effective June 25, 2026
- Appointed M/s R. R. Tibrewala & CO. as Statutory Auditors for a 5-year term from 36th AGM to 41st AGM
- Altered the Main Objects Clause of the Memorandum of Association to align with upcoming business activities
Shareholders of Glittek Granites approved multiple major corporate changes at its 36th AGM on September 22, 2026. These include shifting the registered office from Bengaluru (Karnataka) to Mumbai (Maharashtra), and changing the company name to 'Rawmin Neo Elements Limited' alongside altering its Main Objects Clause to pursue new business activities. Additionally, the company regularized appointments for its leadership team, including Maheshkumar J. Thanki as Chairperson and Bhargav G. Thanki as Managing Director for 5-year terms effective June 25, 2026.
- Approved shifting of registered office from Karnataka (Bengaluru) to Maharashtra (Mumbai), subject to Regional Director approval
- Shareholder approval granted to change company name to 'Rawmin Neo Elements Limited' subject to Central Registration Centre/MCA approval
- Appointed Maheshkumar Jatashankar Thanki as Chairperson/Whole-Time Director and Bhargav Girjashankar Thanki as MD for 5 years effective June 25, 2026
- Appointed M/s R. R. Tibrewala & CO. as Statutory Auditors for a 5-year term from 36th AGM to 41st AGM
- Altered the Main Objects Clause of the Memorandum of Association to align with upcoming business activities
Shareholders of Glittek Granites approved multiple major corporate changes at its 36th AGM on September 22, 2026. These include shifting the registered office from Bengaluru (Karnataka) to Mumbai (Maharashtra), and changing the company name to 'Rawmin Neo Elements Limited' alongside altering its Main Objects Clause to pursue new business activities. Additionally, the company regularized appointments for its leadership team, including Maheshkumar J. Thanki as Chairperson and Bhargav G. Thanki as Managing Director for 5-year terms effective June 25, 2026.
- Approved shifting of registered office from Karnataka (Bengaluru) to Maharashtra (Mumbai), subject to Regional Director approval
- Shareholder approval granted to change company name to 'Rawmin Neo Elements Limited' subject to Central Registration Centre/MCA approval
- Appointed Maheshkumar Jatashankar Thanki as Chairperson/Whole-Time Director and Bhargav Girjashankar Thanki as MD for 5 years effective June 25, 2026
- Appointed M/s R. R. Tibrewala & CO. as Statutory Auditors for a 5-year term from 36th AGM to 41st AGM
- Altered the Main Objects Clause of the Memorandum of Association to align with upcoming business activities
Shareholders of Glittek Granites approved multiple major corporate changes at its 36th AGM on September 22, 2026. These include shifting the registered office from Bengaluru (Karnataka) to Mumbai (Maharashtra), and changing the company name to 'Rawmin Neo Elements Limited' alongside altering its Main Objects Clause to pursue new business activities. Additionally, the company regularized appointments for its leadership team, including Maheshkumar J. Thanki as Chairperson and Bhargav G. Thanki as Managing Director for 5-year terms effective June 25, 2026.
- Approved shifting of registered office from Karnataka (Bengaluru) to Maharashtra (Mumbai), subject to Regional Director approval
- Shareholder approval granted to change company name to 'Rawmin Neo Elements Limited' subject to Central Registration Centre/MCA approval
- Appointed Maheshkumar Jatashankar Thanki as Chairperson/Whole-Time Director and Bhargav Girjashankar Thanki as MD for 5 years effective June 25, 2026
- Appointed M/s R. R. Tibrewala & CO. as Statutory Auditors for a 5-year term from 36th AGM to 41st AGM
- Altered the Main Objects Clause of the Memorandum of Association to align with upcoming business activities
Glittek Granites Limited has issued a communication under Regulation 36(1)(b) of SEBI LODR to shareholders whose email addresses are not registered, providing web-link and QR code access to the FY2025-26 Annual Report and Notice of the 36th Annual General Meeting (AGM). The AGM is scheduled for Tuesday, September 22, 2026, at 11:30 AM IST via Video Conferencing. The cut-off date to determine voting eligibility is September 15, 2026, with remote e-voting active from September 19 to September 21, 2026.
- 36th AGM scheduled for Tuesday, September 22, 2026, at 11:30 AM IST via VC/OAVM
- Cut-off date for e-voting eligibility set for Tuesday, September 15, 2026
- Remote e-voting window runs from September 19, 2026 (09:00 AM) to September 21, 2026 (05:00 PM)
- Annual Report FY25-26 web-link and QR codes dispatched to unregistered email shareholders
Glittek Granites published its FY26 Annual Report outlining a complete change in ownership and business direction. The Rawmin Group took control on June 25, 2026, holding a 70.59% promoter stake following an open offer and replacing the entire board and management team. At the upcoming AGM on September 22, 2026, the company is seeking approval to change its name to 'Rawmin Neo Elements Limited' and alter its main objects to enter battery energy storage systems (BESS), solar PV, and critical minerals. FY26 revenue from operations fell to ₹4.68 lakhs with a net loss of ₹39.45 lakhs after legacy granite operations wound down.
- Rawmin Group assumed control on June 25, 2026, holding 70.59% equity post open offer completion
- Complete Board reconstitution with Bhargav Girjashankar Thanki appointed Managing Director
- Proposed pivot into battery energy storage systems (BESS), solar PV, and critical minerals/advanced materials
- Proposed name change to 'Rawmin Neo Elements Limited' and shift of registered office to Mumbai
- FY26 revenue dropped to ₹4.68 lakhs (vs ₹203.63 lakhs in FY25) with net loss of ₹39.45 lakhs
Glittek Granites has published its FY26 Annual Report and AGM notice for September 22, 2026, following a change in control on June 25, 2026, where the Rawmin Group acquired a 70.59% promoter stake. The new management is seeking shareholder approval to pivot the business into battery energy storage systems (BESS), solar PV, rare earths, and critical minerals. Alongside the strategic overhaul, the company proposes changing its name to 'Rawmin Neo Elements Limited' and shifting its registered office to Mumbai. For FY26, operations remained virtually halted with revenue of ₹4.68 lakh and a net loss of ₹39.45 lakh, but the company remains debt-free with ₹6.59 crore in cash.
- Rawmin Group took management control on June 25, 2026, holding a 70.59% equity stake post-open offer
- Shareholder approval sought to alter main business objects to Battery Energy Storage Systems (BESS) and critical minerals
- Company to be renamed 'Rawmin Neo Elements Limited' and corporate/registered base shifting to Mumbai
- FY26 revenue from operations dropped to ₹4.68 lakh (vs ₹203.63 lakh in FY25), with net loss before tax of ₹39.45 lakh
- Balance sheet closed FY26 with zero borrowings and cash/cash equivalents of ₹658.73 lakh (₹6.59 crore)
Glittek Granites has published its FY25-26 Annual Report and AGM notice for September 22, 2026, marking a complete change of control and business direction. The Rawmin Group took control on June 25, 2026, and now holds a 70.59% equity stake following an open offer. Shareholders will vote on altering the company's main objects to enter battery energy storage systems (BESS), solar PV, and rare earth/critical minerals, alongside rebranding the company to 'Rawmin Neo Elements Limited' and shifting its registered office to Mumbai.
- Rawmin Group completed open offer and took control on June 25, 2026, holding 70.59% equity stake
- AGM scheduled for September 22, 2026, to approve change of company name to Rawmin Neo Elements Limited
- Proposing alteration of main objects clause to enter battery energy storage systems, solar PV, and critical minerals
- Complete reconstitution of the Board with new MD Bhargav Thanki and Whole-Time Directors Maheshkumar and Bhavin Thanki
- Company closed FY26 with zero borrowings and cash/cash equivalents of Rs 6.59 Cr (Rs 658.73 lakhs)
Glittek Granites released its FY25-26 Annual Report, detailing the completion of its takeover by the Rawmin Group, which now holds a 70.59% equity stake following an open offer concluded on June 25, 2026. The new management has reconstituted the entire board and proposed a strategic pivot to battery energy storage systems (BESS), solar PV modules, and critical minerals. Shareholders will vote at the 36th AGM on September 22, 2026, on altering the main objects clause, shifting the registered office to Mumbai, and renaming the entity to Rawmin Neo Elements Limited.
- Rawmin Group completed takeover and holds a 70.59% equity stake effective June 25, 2026
- Proposed change of company name to 'Rawmin Neo Elements Limited' to reflect the new focus on BESS and critical minerals
- Notice issued for 36th AGM on September 22, 2026, to approve the business pivot, new board, and statutory auditors
- Company closed FY26 with zero borrowings and cash & cash equivalents of ₹658.73 lakhs (₹6.59 Cr)
Glittek Granites Ltd has informed the exchange regarding the issuance of a duplicate share certificate under Regulation 39(3) of SEBI LODR Regulations. The issuance pertains to 100 equity shares under Folio No. 0019909 in the name of Smriti Roy. A new share certificate (No. 00035331) was issued on August 11, 2026, in lieu of the lost original certificate (No. 00029030). This is a purely administrative compliance filing with no impact on the company's financial standing or operations.
- Issued 1 duplicate share certificate for 100 equity shares
- Shareholder name: Smriti Roy (Folio No. 0019909)
- Distinctive numbers: 0007248501 to 0007248600
- New certificate number 00035331 issued against old certificate number 00029030
Glittek Granites is undergoing a total strategic pivot, entering the Battery Energy Storage Systems (BESS) and allied businesses following a recent change in management control. The company is establishing a new corporate office in Ahmedabad and acquiring land, while simultaneously proposing to shift its registered office from Karnataka to Maharashtra. This transition includes the appointment of new Statutory Auditors (M/s. R. R. Tibrewala & CO.) and Secretarial Auditors. Financially, the company is starting from a near-zero base with TTM revenue of Rs 0 Cr and a modest net worth of Rs 11 Cr.
- Entry into Battery Energy Storage Systems (BESS) and allied businesses announced.
- Acquisition of land for new business operations and establishment of Ahmedabad corporate office.
- Appointment of M/s. R. R. Tibrewala & CO. as Statutory Auditors for a 5-year term starting from the 36th AGM.
- Proposed shifting of the registered office from Karnataka to Maharashtra following management change.
- TTM Revenue remains at Rs 0 Cr, indicating a complete reliance on the new business pivot for future growth.
Glittek Granites is undergoing a total business pivot following a recent change in management and control. The company has announced an entry into the Battery Energy Storage Systems (BESS) and Solar PV sectors with an estimated project cost of 150 crore. This investment is massive compared to its current net worth of 11 crore and near-zero TTM revenue. To support this transition, the board has appointed new Statutory Auditors (R. R. Tibrewala & CO.) and Secretarial Auditors (KJB & CO. LLP) for five-year terms, alongside a change in the Registrar and Transfer Agent (RTA).
- Estimated investment of 150 crore for new BESS and Solar PV business lines
- Project cost represents approximately 1,363% of the company's current net worth of 11 crore
- Appointment of M/s. R. R. Tibrewala & CO. as Statutory Auditors for a 5-year term
- Change of Registrar and Transfer Agent (RTA) to MUFG Intime India Private Limited
- TTM revenue currently stands at 0 crore, indicating a complete reset of the business model
Glittek Granites is undergoing a complete business pivot, entering the Battery Energy Storage Systems (BESS) and Solar PV EPC sectors. The company plans to invest ₹150 crore in this new venture, which is highly significant compared to its current net worth of ₹11 crore. This shift follows a recent change in management control, which has also led to the appointment of R. R. Tibrewala & Co. as Statutory Auditors and MUFG Intime as the new Registrar and Transfer Agent (RTA). The company currently reports near-zero revenue, making this a total transformation of its operating model.
- Proposed investment of ₹150 crore for BESS manufacturing and Solar PV EPC projects
- Project cost of ₹150 crore represents approximately 13.6x the company's current net worth of ₹11 crore
- Appointment of R. R. Tibrewala & Co. as Statutory Auditors for a 5-year term starting from the 36th AGM
- Promoter holding increased to 70.59% in June 2026, up from 62.98% in March 2026
- TTM revenue stands at ₹0 crore, highlighting the scale of the proposed business pivot
Financial Performance
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Operational Drivers
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Strategic Growth
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External Factors
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Regulatory & Governance
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