Mahan Industries Ltd (531515)
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Mahan Industries' revenue was ₹2.4 Cr (+637.5% year on year, +48.4% on the previous quarter), and net profit ₹0.2 Cr (against a loss a year earlier); the operating margin was 9.7%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹2.4 | +637.5% | +48.4% |
| Operating profit | ₹0.2 | from loss | from loss |
| Net profit | ₹0.2 | from loss | from loss |
| EPS (₹) | 0.47 | from loss | from loss |
| Operating margin | 9.7% | — | — |
📢 Recent Corporate Announcements
Mahan Industries Ltd has reconstituted its Board committees under Regulation 30 of SEBI LODR on August 25, 2026. In the Nomination and Remuneration Committee, Ms. Riddhi Hardishkumar Shah has replaced Mr. Yash Kamleshkumar Shah as a member. The compositions of the Audit Committee and Stakeholders Relationship Committee remain unchanged, chaired by Ms. Amita Chhaganbhai Pragada.
- Nomination and Remuneration Committee reconstituted with Ms. Riddhi Hardishkumar Shah replacing Mr. Yash Kamleshkumar Shah as member
- Audit Committee unchanged with 3 members headed by Ms. Amita Chhaganbhai Pragada (Chairperson)
- Stakeholders Relationship Committee unchanged with 3 members headed by Ms. Amita Chhaganbhai Pragada (Chairperson)
Mahan Industries Limited announced the appointment of Riddhi Hardishkumar Shah as an Additional Non-Executive Independent Director for a 5-year term from August 25, 2026, to August 24, 2031, subject to shareholder approval. The appointment fills the board vacancy created by the cessation of Yash Kamleshbhai Shah on August 8, 2026. Concurrently, the company reconstituted its Audit, Nomination & Remuneration, and Stakeholders' Relationship Committees effective August 25, 2026. This is a routine governance update for the microcap trading firm, which has a market cap of approximately ₹5 crore.
- Appointment of Riddhi Hardishkumar Shah as Independent Director for a 5-year term ending August 24, 2031
- Appointment fills vacancy following the cessation of Yash Kamleshbhai Shah on August 8, 2026
- Reconstitution of Audit, Nomination & Remuneration, and Stakeholders' Relationship Committees effective August 25, 2026
- Director holds nil shares in the company and has 3+ years of experience in corporate laws and compliance
Mahan Industries Limited approved its unaudited financial results for the quarter ended June 30, 2026, at its board meeting held on August 17, 2026. The board also formally noted the resignation of Non-Executive Independent Director Mr. Yash Kamleshkumar Shah, effective August 8, 2026. Detailed financial line items were not incorporated in the outcome cover document. The company operates with a micro-cap base of Rs 5 Cr market cap and TTM revenue of Rs 6 Cr.
- Approved Unaudited Financial Results for the quarter ended June 30, 2026.
- Noted resignation of Independent Director Yash Kamleshkumar Shah effective August 8, 2026.
- Board meeting conducted on August 17, 2026, between 06:30 PM and 07:00 PM.
Mahan Industries Limited held its Board of Directors meeting on August 17, 2026, to approve the unaudited financial results for the quarter ended June 30, 2026. The Board also formally noted the resignation of Independent Director Mr. Yash Kamleshkumar Shah, which took effect on August 8, 2026. The company operates at a micro-cap scale with a market cap of approximately ₹5 Cr and TTM revenue of ₹6 Cr.
- Board approved Unaudited Financial Results with Limited Review Report for the quarter ended June 30, 2026.
- Noted resignation of Non-Executive Independent Director Mr. Yash Kamleshkumar Shah, effective August 8, 2026.
- The board meeting was conducted on August 17, 2026, from 06:30 PM to 07:00 PM.
Mahan Industries' shareholders have approved two special resolutions at the EGM held on August 15, 2026, with 100% votes in favor. The company will issue up to 32,00,000 equity shares at Rs 12 each (raising up to Rs 3.84 Cr) and up to 2,16,55,216 fully convertible warrants at Rs 12 each (raising up to Rs 25.99 Cr). Total potential capital raised stands at Rs 29.83 Cr, representing almost 6x the company's current market cap of Rs 5 Cr and 5x its TTM revenue of Rs 6 Cr.
- Approved preferential issue of up to 32,00,000 equity shares at Rs 12 per share, aggregating up to Rs 3.84 Cr
- Approved preferential issue of up to 2,16,55,216 fully convertible warrants at Rs 12 per warrant, aggregating up to Rs 25.99 Cr
- Both special resolutions passed with 100% of votes polled in favor (9,00,244 votes)
- Total potential fundraise of Rs 29.83 Cr vs current market cap of ~Rs 5 Cr and 45,00,000 existing shares
Mahan Industries has informed the stock exchange regarding a delay in submitting its unaudited financial results for the quarter ended June 30, 2026, missing the prescribed 45-day LODR timeline. The company cited extensive travel commitments of Key Managerial Personnel and Directors for project execution and monitoring as the reason for the delay. The Board Meeting to consider and approve the Q1 results is scheduled for August 17, 2026. The company operates at a micro-cap scale with a market capitalization of Rs 5 Cr and FY26 annual revenue of Rs 6.24 Cr.
- Delayed filing of unaudited financial results for the quarter ended June 30, 2026
- Delay attributed to extensive travel commitments of KMP and Director for project execution and realization
- Board meeting to approve the Q1 financial results convened on August 17, 2026
Mahan Industries Limited has postponed its Board of Directors meeting originally scheduled for August 14, 2026, to August 17/18, 2026 due to unavoidable circumstances. The Board will convene to review and approve the unaudited standalone financial results for the quarter ended June 30, 2026. In addition, the agenda includes acknowledging the resignation of Non-Executive Independent Director Mr. Yash Kamleshkumar Shah, effective August 8, 2026. The trading window remains closed until 48 hours after the results are announced.
- Board meeting rescheduled from August 14, 2026 to August 17/18, 2026.
- Meeting agenda includes approval of unaudited standalone financial results for Q1 ended June 30, 2026.
- Board to acknowledge the resignation of Non-Executive Independent Director Mr. Yash Kamleshkumar Shah effective August 8, 2026.
- Trading window closed since July 1, 2026, until 48 hours post-financial results announcement.
Mahan Industries has scheduled a board meeting on August 14, 2026, to approve its standalone financial results for the quarter ended June 30, 2026. The board will also acknowledge the resignation of Non-Executive Independent Director Mr. Yash Kamleshkumar Shah, effective August 8, 2026. Given the company's micro-cap status (Rs 5 Cr) and extremely low promoter holding of 1.2%, the upcoming results are critical to assess if the profitability seen in Q4 FY26 (Rs 0.21 Cr) is sustainable.
- Board meeting scheduled for August 14, 2026, to approve Q1 FY27 results.
- Resignation of Independent Director Mr. Yash Kamleshkumar Shah effective August 8, 2026.
- Trading window for designated persons closed from July 1, 2026, until 48 hours after results are public.
- Company reported a TTM revenue of Rs 6 Cr and a TTM PAT of Rs 0 Cr as of the latest data.
Mr. Yash Kamleshkumar Shah (DIN: 10565098) has resigned from his position as a Non-Executive Independent Director of Mahan Industries Ltd, effective August 8, 2026. The resignation is attributed to personal reasons and pre-occupation, with the director confirming there are no other material reasons. This change occurs in a micro-cap company with a market capitalization of only Rs 5 Cr and a notably low promoter holding of 1.16%. The board has formally acknowledged his contribution during his tenure.
- Resignation of Independent Director effective from 08th August, 2026
- Director holds no other directorships in listed entities as per the disclosure
- Company maintains a very low promoter holding of 1.16% as of March 2026
- TTM Revenue stands at Rs 6 Cr with a Market Cap of Rs 5 Cr
- Resignation cited as due to personal commitments and pre-occupation
Mahan Industries has issued a corrigendum to its Extra-Ordinary General Meeting (EGM) notice originally dated July 16, 2026. The EGM, scheduled for August 15, 2026, will address a proposed preferential issue of Equity Shares and Fully Convertible Warrants. This update follows specific clarifications sought by BSE Limited regarding the fundraise. Given the company's micro-cap status (Rs 5 Cr market cap) and extremely low promoter holding (1.16%), the terms of this issuance are highly material.
- Extra-Ordinary General Meeting (EGM) is scheduled for August 15, 2026
- Corrigendum issued to address clarifications sought by BSE Limited regarding a preferential issue
- Proposed fundraise includes both Equity Shares and Fully Convertible Warrants
- Company operates with a very low promoter holding of 1.16% as of March 2026
- Market capitalization stands at approximately Rs 5 Cr against TTM revenue of Rs 6.24 Cr
Mahan Industries is proposing a massive preferential issue of 32 lakh equity shares and 2.16 crore warrants at Rs 12 each, totaling approximately Rs 29.83 crore. This capital infusion is nearly 6x the company's current market capitalization of Rs 5 crore. The transaction will result in a change of control, with Shah Nishil Sanjaykumar and Niranjankumar Navratanmal Jain becoming the new promoters. Consequently, an open offer will be triggered as the new promoters acquire 26% of the emerging voting share capital.
- Preferential issue of 32,00,000 equity shares at Rs 12 per share, totaling Rs 3.84 crore
- Issuance of 2,16,55,216 convertible warrants at Rs 12 per warrant, totaling Rs 25.99 crore
- Total potential capital infusion of Rs 29.83 crore represents approximately 596% of the current market cap
- New promoters to acquire 26% of emerging voting capital, triggering SEBI Takeover Regulations for an open offer
- EGM scheduled for August 15, 2026, to seek shareholder approval for the issuance
Mahan Industries, a micro-cap company with a market capitalization of just ₹5 Cr, has announced its foray into digital financial services with the launch of 'Credit Mines'. The platform is designed for end-to-end digital lending, offering personal loans through paperless processes like Video KYC and the account aggregator framework. This represents a significant strategic pivot for a company that currently operates in the Trading & Distributors space with a TTM revenue of ₹6 Cr. While the company aims to diversify revenue, the financial impact remains unquantified at this stage.
- Launch of 'Credit Mines', a fully digital end-to-end lending platform for personal loans and retail credit.
- Platform utilizes India's public digital infrastructure including e-KYC, Video KYC, and e-signing.
- Company market capitalization stands at ₹5 Cr against a TTM revenue of ₹6 Cr.
- Promoter holding is notably low at 1.16% as of March 2026.
- Lending operations will be governed by RBI's Guidelines on Digital Lending.
Mr. Nishil Sanjaykumar Shah and Mr. Niranjan Navratanmal Jain have filed a Draft Letter of Offer to acquire 20,02,000 shares (26% stake) of Mahan Industries at Rs 12 per share. This mandatory open offer follows a proposed preferential issue and aims for a complete change in control and management. The offer price represents a small premium over the current market price of Rs 11.6. Given the company's micro-cap status (Rs 5 Cr) and extremely low existing promoter holding (1.16%), this change in leadership is a significant event for the company's future direction.
- Offer price set at Rs 12 per share for up to 20,02,000 equity shares.
- Acquisition represents 26% of the total expanded voting equity share capital on a fully diluted basis.
- Tendering period is scheduled to open on September 8, 2026, and close on September 22, 2026.
- The offer is triggered by a proposed preferential issue and will result in a change of control and management.
- Current promoter holding is exceptionally low at 1.16% as of March 2026.
New acquirers, Mr. Nishil Sanjaykumar Shah and Mr. Niranjan Navratanmal Jain, have launched an open offer to acquire 20,02,000 shares (26% stake) of Mahan Industries at Rs 12.00 per share. This follows a Share Purchase Agreement for a 0.68% stake and a massive proposed preferential allotment of 32 lakh shares and 2.16 crore convertible warrants. The total open offer consideration is Rs 2.40 crore, which is significant given the company's current market cap of Rs 5 crore. This move signals a complete change in control and a substantial capital infusion for the micro-cap entity.
- Open offer price of Rs 12.00 per share is a premium to the current market price of Rs 11.60.
- Acquirers to be allotted 32,00,000 equity shares and 2,16,55,216 convertible warrants via preferential issue.
- The open offer size of Rs 2.40 crore represents approximately 48% of the company's current market capitalization.
- Expanded voting share capital to increase to 77,00,000 shares from the existing 45,00,000 shares.
- Existing promoter Mr. Yogendrakumar Gupta is exiting his 0.68% stake (52,169 shares) via a Share Purchase Agreement.
Mahan Industries has scheduled an EGM on August 15, 2026, to approve a preferential allotment of 32,00,000 equity shares at ₹12 per share, totaling ₹3.84 crore. The shares are being issued to two individuals, Shah Nishil Sanjaykumar and Niranjankumar Navratanmal Jain, who are designated as 'Proposed Promoters'. This allotment represents 26% of the emerging voting share capital, triggering a mandatory Open Offer under SEBI Takeover Regulations. The transaction signifies a formal change in the company's control and management.
- Preferential issue of 32,00,000 equity shares at a price of ₹12 per share
- Total fundraise amount of ₹3.84 crore to be paid 100% upfront
- Allotment constitutes 26% of the emerging voting share capital
- Mandatory Open Offer triggered following the Public Announcement on July 16, 2026
- Proposed allottees to be classified as Promoters upon completion of the Open Offer
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