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Mitshi India Ltd (523782)

📊 BSE: 523782 🏢 Trading & Distributors 📢 Latest filing: 12 Oct 2026

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Mitshi India's revenue was ₹0.2 Cr (-52.0% year on year, -84.8% on the previous quarter), and net profit ₹0.0 Cr; the operating margin was 1.0%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹0.2	-52.0%	-84.8%
Operating profit	₹0.0	—	-97.5%
Net profit	₹0.0	—	from loss
EPS (₹)	0.00	—	loss narrowed
Operating margin	1.0%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Mitshi India CS and Compliance Officer Umesh Mistry Resigns Effective Oct 12, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 12 Oct 2026, 05:46 PM

Mitshi India Limited has announced the resignation of Mr. Umesh Jayantilal Mistry from the position of Company Secretary, Compliance Officer, and Key Managerial Personnel. The resignation took effect at the close of business hours on October 12, 2026, citing personal reasons and other professional commitments. The board meeting addressing this change convened at 04:30 PM and concluded at 05:00 PM on October 12, 2026. This administrative leadership transition comes as the micro-cap trading firm operates with a market cap of approximately Rs 14 Cr and TTM revenue of Rs 8 Cr.

Resignation of CS and Compliance Officer Mr. Umesh Jayantilal Mistry accepted on October 12, 2026
Cessation took effect from close of business hours on October 12, 2026
Board meeting commenced at 04:30 P.M. and concluded at 05:00 P.M.
Resignation was tendered citing personal reasons and other professional commitments

💡 Watch for the company's subsequent disclosure regarding the appointment of a new Company Secretary and Compliance Officer to ensure ongoing regulatory adherence.

Mitshi India CS and Compliance Officer Umesh Jayantilal Mistry Resigns

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 12 Oct 2026, 05:40 PM

Mitshi India Limited announced the resignation of Mr. Umesh Jayantilal Mistry from the position of Company Secretary, Compliance Officer, and Key Managerial Personnel (KMP). The resignation is effective from the close of business hours on October 12, 2026. The departure is attributed to personal reasons and other professional commitments. As a micro-cap entity with a market capitalization of ₹14 crore, the company will need to appoint a successor to meet statutory SEBI compliance mandates.

Resignation of Umesh Jayantilal Mistry as CS, Compliance Officer, and KMP
Cessation effective from close of business hours on October 12, 2026
Reason cited as personal reasons and other professional commitments

💡 Track subsequent exchange filings for the appointment of a new Company Secretary and Compliance Officer to ensure ongoing regulatory compliance.

Mitshi India: Post-Offer Advertisement for 26% Stake Open Offer at Rs 15/Share

🟡 NEUTRAL ⭐ 6/10

M&A 📅 09 Oct 2026, 07:55 PM

Manager to the Offer, Srujan Alpha Capital Advisors LLP, submitted the post-offer advertisement for an open offer to acquire up to 22,88,000 shares of Mitshi India Limited. The offer was made by Karronn Naresh Bajaj at a price of Rs 15 per fully paid-up share, representing 26% of the company's total voting capital. The post-offer advertisement was published on October 09, 2026 across Financial Express, Jansatta, and Pratahkal pursuant to SEBI SAST Regulations.

Open offer to acquire up to 22,88,000 equity shares of the Target Company
Acquisition represents 26% of the total voting share capital
Offer price set at Rs 15 per fully paid-up share
Post-offer advertisement published on October 09, 2026 across English, Hindi, and Marathi daily newspapers

💡 Track subsequent shareholding pattern disclosures to assess final acceptance ratios and changes in total promoter/acquirer shareholding.

Mitshi India Open Offer Closes: Acquirer Karronn Bajaj Secures 22.15% Stake for ₹86.91 Lakh

🟡 NEUTRAL ⭐ 6/10

M&A 📅 09 Oct 2026, 07:49 PM

Mitshi India Limited published its post-offer advertisement following an open offer by Mr. Karronn Naresh Bajaj. Against an offer to acquire up to 22,88,000 equity shares (26.00%) at ₹15 per share, a total of 5,79,417 shares (6.58%) were tendered and accepted, resulting in an offer payout of ₹86,91,255. Combined with 13,70,070 shares (15.57%) acquired via Share Purchase Agreement (SPA), the acquirer's total post-offer holding stands at 19,49,487 shares (22.15% of voting share capital). Consideration was disbursed on October 01, 2026.

Open offer price was ₹15 per share against an offer size of up to 22,88,000 shares (26.00%)
Only 5,79,417 shares tendered and accepted (6.58% stake), aggregating to ₹86,91,255
Acquirer holds 13,70,070 shares (15.57%) via SPA and 5,79,417 shares (6.58%) via Open Offer
Post-offer total acquirer holding reaches 19,49,487 shares or 22.15% of voting capital
Public shareholding reduced from 84.43% pre-offer to 77.85% post-offer

💡 Track upcoming shareholding pattern filings to observe promoter reclassification and monitor potential board or management restructuring following the acquisition.

Mitshi India Concludes 36th AGM; Proposes 49% FPI Limit and Section 185/186 Loan Approvals

🔵 WATCH ⭐ 4/10

ROUTINE 📅 29 Sep 2026, 05:34 PM

Mitshi India Limited conducted its 36th Annual General Meeting on September 29, 2026, with 53 shareholders present (1 promoter, 52 public). Resolutions put to vote included the adoption of FY26 financial statements, regularizing three directors, and raising the FPI/FII investment limit up to 49%. Notably, the board noted audit qualifications in both the Statutory and Secretarial Audit Reports, and sought shareholder nods for loans/guarantees under Section 185/186 and material related-party transactions.

53 shareholders attended the AGM (1 promoter and 52 public members)
Resolution proposed to expand foreign portfolio investment (FPI/FII) limits up to 49%
Statutory Auditors' Report and Secretarial Audit Report both contain qualifications
Shareholder approval sought for loans, guarantees, and securities under Section 185 and Section 186
Final scrutinizer voting results to be disclosed on or before October 1, 2026

💡 Track the disclosure of scrutinizer voting results by October 1, 2026, and inspect the Annual Report to review the exact nature of the auditor qualifications.

Mitshi India IDC Recommends Open Offer of Up to 26% Stake by Karronn Bajaj at ₹15/Share

🟢 POSITIVE ⭐ 9/10

M&A 📅 27 Aug 2026, 11:18 AM

The Committee of Independent Directors (IDC) of Mitshi India Limited has unanimously recommended the open offer by Mr. Karronn Naresh Bajaj as fair and reasonable. The open offer is to acquire up to 22,88,000 equity shares, representing 26.0% of the total voting capital, at an offer price of ₹15.00 per share in cash. The offer price represents an ~11.9% premium over the recent trading price of ₹13.40 and totals approximately ₹3.43 crore (around 26.4% of the company's ₹13 crore market cap). The IDC noted that the offer price matches the negotiated price under the Share Purchase Agreement dated July 23, 2026, and is above the calculated valuation of ₹3.10 per share.

Open offer to acquire up to 22,88,000 shares (26.0% of total voting capital) at ₹15.00 per share in cash
Total open offer value stands at ~₹3.43 crore, representing ~26.4% of the company's ₹13 crore market capitalization
Independent Directors' Committee unanimously deemed the offer fair and reasonable, citing compliance with SEBI SAST Regulations
Offer price of ₹15.00 matches the July 23, 2026 SPA negotiated price and exceeds the ₹3.10 valuation benchmark

💡 Eligible shareholders should review the Letter of Offer and tendering schedule to evaluate whether to tender shares at the ₹15 offer price or retain their holdings.

Mitshi India: Karronn Bajaj Files Letter of Offer to Acquire 26% Stake at ₹15/Share

🟢 POSITIVE ⭐ 9/10

M&A 📅 24 Aug 2026, 07:42 PM

Mitshi India has received the Letter of Offer from Karronn Naresh Bajaj for an open offer to acquire up to 22,88,000 equity shares, representing 26% of the company's voting capital. The open offer is priced at ₹15 per share in cash, aggregating to ₹3.43 crore (representing ~26.4% of the company's current ₹13 crore market cap). The tendering period will open on September 03, 2026, and close on September 17, 2026. This offer follows SEBI (SAST) Regulations and is not conditional on any minimum level of acceptance.

Open offer to acquire up to 22,88,000 shares representing 26% of total voting capital
Offer price fixed at ₹15 per fully paid-up share, above the recent trading price of ₹13.4
Total open offer consideration is ₹3.43 crore against the company's market capitalization of ₹13 crore
Tendering period scheduled from September 03, 2026, to September 17, 2026
Independent Directors' committee recommendation to be published by September 01, 2026

💡 Eligible shareholders should watch for the Independent Directors' committee evaluation by September 01, 2026, and note the tendering window from September 03 to September 17, 2026.

Open Offer for 26% Stake in Mitshi India by Karronn Naresh Bajaj at ₹15/Share

🟢 POSITIVE ⭐ 9/10

M&A 📅 24 Aug 2026, 06:36 PM

Karronn Naresh Bajaj has issued a Letter of Offer to acquire up to 22,88,000 equity shares, representing 26% of the voting share capital of Mitshi India Ltd, at an offer price of ₹15 per share. The total potential consideration for the open offer stands at approximately ₹3.43 crore. The offer price of ₹15 represents an ~11.9% premium over the current market price of ₹13.4. The tendering period opens on September 3, 2026, and concludes on September 17, 2026.

Open offer to acquire up to 22,88,000 equity shares representing 26.00% voting capital
Offer price fixed at ₹15 per share, representing an ~11.9% premium over CMP of ₹13.4
Total value of the open offer is ₹3.43 crore, which is ~26.4% of the company's ₹13 crore market cap
Tendering window scheduled from September 3, 2026 to September 17, 2026

💡 Public shareholders should monitor the Independent Directors' recommendation due by September 1, 2026, and the opening of the tendering window on September 3, 2026.

Mitshi India Q1 Revenue Falls 51.5% YoY to Rs 19.66 Lakhs; PAT at Rs 0.15 Lakhs

🔴 NEGATIVE ⭐ 5/10

EARNINGS 📅 14 Aug 2026, 09:03 PM

Mitshi India reported standalone revenue from operations of Rs 19.66 lakhs for the quarter ended 30th June 2026, down 51.5% YoY from Rs 40.53 lakhs in the corresponding previous quarter and down 84.8% QoQ from Rs 129.18 lakhs. Net profit came in at a marginal Rs 0.15 lakhs compared to Rs 0.06 lakhs in Q1 FY26 and a loss of Rs 3.59 lakhs in Q4 FY26. The statutory auditor issued a qualified opinion noting substantial volumes of non-banking cash transactions verified only via GST returns, as well as unconfirmed balances for trade receivables, payables, and unsecured loans.

Revenue from operations plunged 51.5% YoY to Rs 19.66 lakhs compared to Rs 40.53 lakhs in the year-ago period
Net profit stood at a nominal Rs 0.15 lakhs, recovering from a net loss of Rs 3.59 lakhs in the preceding quarter
Total expenses dropped to Rs 19.46 lakhs, with purchase of stock in trade accounting for Rs 15.35 lakhs
Auditors issued a qualified conclusion due to high volumes of cash sales/purchases and lack of confirmation for receivables, payables, and unsecured loans

💡 Track whether management can transition cash-heavy trading operations to verified banking channels and resolve audit qualifications in subsequent quarterly filings.

Mitshi India Q1 Revenue Falls 51.5% YoY to ₹19.66 Lakh; Auditor Flags Heavy Cash Transactions

🔴 NEGATIVE ⭐ 6/10

EARNINGS 📅 14 Aug 2026, 08:57 PM

Mitshi India reported Q1 (ended June 30, 2026) revenue from operations of ₹19.66 lakh, declining 51.5% YoY from ₹40.53 lakh and down 84.8% QoQ from ₹129.18 lakh. Net profit stood at a nominal ₹0.15 lakh compared to ₹0.06 lakh in Q1 FY25 and a net loss of ₹3.59 lakh in the preceding quarter. Crucially, the statutory auditor issued qualifications highlighting substantial cash transactions in agriculture trading relying on GST returns due to lack of banking records, along with unconfirmed trade balances.

Revenue from operations plunged 51.5% YoY to ₹19.66 lakh versus ₹40.53 lakh in the year-ago quarter
Net profit stood at a thin ₹0.15 lakh versus ₹0.06 lakh in Q1 FY25 and a loss of ₹3.59 lakh in Q4 FY26
Auditor noted high volumes of non-banking cash transactions (sales, purchases, receipts) relying on GST returns for turnover verification
Outstanding balances of trade receivables, payables, and unsecured loans are subject to confirmation and supporting documents

💡 Monitor whether the company transitions transactions to formal banking channels and resolves auditor qualifications regarding trade balance confirmations in subsequent quarters.

Mitshi India schedules Board Meeting on August 14, 2026, to approve Q1 results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 10 Aug 2026, 06:24 PM

Mitshi India Ltd has announced a board meeting on August 14, 2026, to review and approve the unaudited financial results for the quarter ended June 30, 2026. This is a routine regulatory filing for a micro-cap company with a market capitalization of Rs 13 crore. The company currently operates with a TTM revenue of Rs 8 crore and a net profit of Rs 1 crore. Investors should note the relatively low promoter holding of 15.57% as they await the quarterly performance update.

Board meeting scheduled for August 14, 2026, to approve Q1 FY27 results
Results to cover the three-month period ended June 30, 2026
Company reported a TTM revenue of Rs 8 crore against a market cap of Rs 13 crore
Promoter holding is stagnant at a low level of 15.57% as of March 2026
Meeting will also include a review of the Statutory Auditor's limited review report

💡 Monitor the results on August 14 to check for revenue growth and margin stability, as the company is a micro-cap with low promoter skin-in-the-game.

Rs 15/Share Open Offer for 26% Stake in Mitshi India Ltd by Karronn Naresh Bajaj

🟢 POSITIVE ⭐ 9/10

M&A 📅 06 Aug 2026, 07:40 PM

Mr. Karronn Naresh Bajaj has filed a Draft Letter of Offer to acquire up to 22,88,000 shares (26% stake) of Mitshi India Ltd at a price of Rs 15 per share. This offer price represents an 18.1% premium over the current market price of Rs 12.7. The total consideration for the open offer is Rs 3.43 crore, which is significant relative to the company's Rs 12 crore market capitalization. The tendering period is tentatively scheduled to run from September 16 to September 29, 2026.

Open offer price set at Rs 15 per share, an 18.1% premium to the current market price of Rs 12.7
Acquisition target of 22,88,000 equity shares representing 26% of the total voting capital
Total financial commitment for the open offer stands at Rs 3.43 crore
Tendering period scheduled to open on September 16, 2026, and close on September 29, 2026
Offer is mandatory under SEBI (SAST) Regulations following an underlying acquisition agreement

💡 Monitor the SEBI approval process for the Draft Letter of Offer and watch for the final Letter of Offer dispatch by September 8, 2026. Shareholders should compare the Rs 15 offer price against the market price during the September 16-29 tendering window.

₹15 Open Offer for 26% Stake in Mitshi India by Karronn Naresh Bajaj

🟢 POSITIVE ⭐ 9/10

M&A 📅 06 Aug 2026, 05:00 PM

Mr. Karronn Naresh Bajaj has filed a Draft Letter of Offer to acquire up to 22,88,000 shares, representing 26% of Mitshi India Ltd's voting capital. The offer price is set at ₹15 per share, which is an 18.1% premium over the current market price of ₹12.7. The total potential outlay for the acquirer is approximately ₹3.43 Cr, representing nearly 28.6% of the company's current market capitalization. The tendering period is tentatively scheduled to run from September 16, 2026, to September 29, 2026.

Offer price of ₹15 per share is an 18.1% premium to the current market price of ₹12.7
Acquisition target of 22,88,000 shares representing 26% of total voting share capital
Total offer value estimated at ₹3.43 Cr, which is ~28.6% of the current ₹12 Cr market cap
Tendering period scheduled to open on September 16, 2026, and close on September 29, 2026
Identified date for determining eligible public shareholders is September 01, 2026

💡 Monitor the SEBI approval process for the Draft Letter of Offer and watch for the final Letter of Offer. Investors should compare the ₹15 offer price against the market price during the September 16-29 tendering window to decide on participation.

₹15 Open Offer for 26% Stake in Mitshi India Ltd by Karronn Naresh Bajaj

🟢 POSITIVE ⭐ 9/10

M&A 📅 30 Jul 2026, 05:22 PM

Mr. Karronn Naresh Bajaj has issued a Detailed Public Statement (DPS) to acquire up to 22,88,000 shares of Mitshi India Ltd, representing 26% of the voting share capital. The offer price is set at ₹15 per share, which is a 15.4% premium over the current market price of ₹13.0. This follows the initial Public Announcement made on July 23, 2026. Given the current low promoter holding of 15.57%, this acquisition could lead to a significant shift in the company's control or shareholding structure.

Open offer price set at ₹15 per fully paid-up share
Acquisition target of up to 22,88,000 shares representing 26% of total voting capital
Detailed Public Statement published on July 30, 2026, following the July 23 announcement
Offer price represents a ~15.4% premium to the current market price of ₹13.0
Current promoter holding stands at 15.57% as of March 2026

💡 Investors should watch for the Letter of Offer to understand the acquirer's intent and the specific timeline for the tendering period to decide on participating in the exit opportunity.

₹15 per share Open Offer for 26% stake in Mitshi India Ltd by Karronn Naresh Bajaj

🟢 POSITIVE ⭐ 9/10

M&A 📅 30 Jul 2026, 11:44 AM

Mr. Karronn Naresh Bajaj has launched an open offer to acquire up to 22,88,000 shares of Mitshi India Ltd, representing 26% of the total voting capital. The offer price of ₹15 per share represents a 15.4% premium over the current market price of ₹13.0. This follows the initial Public Announcement made on July 23, 2026. The total potential outlay for this offer is approximately ₹3.43 Cr, which is substantial relative to the company's current market capitalization of ₹13 Cr.

Offer price set at ₹15 per share, a 15.4% premium to the current market price of ₹13.0
Acquisition target of 22,88,000 shares representing 26% of the total voting share capital
Total offer value estimated at ₹3.43 Cr based on the offer price and maximum shares
Detailed Public Statement published on July 30, 2026, following the July 23, 2026 announcement
Acquirer identified as Mr. Karronn Naresh Bajaj

💡 Investors should monitor the dispatch of the Letter of Offer and the specific dates for the tendering period to decide whether to participate in the exit opportunity at ₹15.

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