Sanco Industries Limited (SANCO)
📢 Recent Corporate Announcements
Sanco Industries Limited has submitted its annual declaration under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The promoters and promoter group have confirmed that no new encumbrances, either direct or indirect, were created on their shareholding during the fiscal year ending March 2026. This is a routine compliance filing that provides transparency regarding the status of promoter-held shares. It ensures that the promoter stake remains free of undisclosed pledges or liens.
- Annual declaration submitted in compliance with Regulation 31(4) of SEBI (SAST) Regulations, 2011.
- Promoters and Promoter Group confirmed zero new encumbrances on their shares during the period.
- The disclosure was officially filed with the National Stock Exchange on April 4, 2026.
- Confirms that any existing encumbrances remain as previously disclosed to the exchanges.
Sanco Industries Limited has filed its annual declaration under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The promoter group confirmed that they have not created any new encumbrances, directly or indirectly, on their shareholding during the financial year ending March 31, 2026. This routine disclosure provides transparency regarding the status of promoter-held shares and confirms no undisclosed pledging has occurred. Such filings are standard for listed companies to maintain regulatory compliance and investor trust.
- Compliance with Regulation 31(4) of SEBI (SAST) Regulations, 2011 for the financial year.
- Promoter group confirms no new direct or indirect encumbrances on company shares.
- Declaration submitted to the National Stock Exchange (NSE) on April 4, 2026.
Sanco Industries has fixed June 5, 2026, as the record date for issuing equity shares to stakeholders as part of its NCLT-approved Resolution Plan. This follows the merger of the original Sanco Industries into Carewell Exim Private Limited, which has since been renamed Sanco Industries Limited. The resolution plan, led by Ms. Priti Jain, was approved by the Committee of Creditors with a 100% vote and finalized by the NCLT in December 2025. This move signifies the completion of the insolvency process and the restructuring of the company's capital base.
- Record date for share allotment fixed for June 5, 2026, following NCLT order dated Dec 18, 2025.
- Resolution plan submitted by Ms. Priti Jain received 100% approval from the Committee of Creditors.
- Original Sanco Industries amalgamated into Carewell Exim, which was renamed Sanco Industries on May 14, 2026.
- The company successfully transitioned from a private to a public limited entity as part of the restructuring.
- CIRP process originally initiated on September 29, 2022, is nearing final implementation.
Sanco Industries Limited has fixed June 5, 2026, as the record date for the issuance and allotment of equity shares to stakeholders as part of its NCLT-approved resolution plan. This follows the company's successful exit from the Corporate Insolvency Resolution Process (CIRP) and the subsequent merger of the original entity into the renamed transferee company. The resolution plan, which received 100% approval from the Committee of Creditors in April 2023, was formally approved by the NCLT in December 2025. This allotment marks a critical step in the company's restructuring and return to normalized operations.
- Record date for share allotment fixed for June 5, 2026, following NCLT order dated December 18, 2025
- Resolution Plan submitted by Ms. Priti Jain was approved by CoC with 100% voting share
- Company converted from private to public limited and renamed to Sanco Industries Limited on May 14, 2026
- Amalgamation of the transferor company into the transferee company completed as per Clause 4.1.3 of the plan
- The CIRP process originally commenced following an NCLT order dated September 29, 2022
Sanco Industries Limited has successfully concluded its corporate restructuring following the Corporate Insolvency Resolution Process (CIRP) initiated in 2022. The resolution plan, which received 100% approval from the Committee of Creditors, involved the amalgamation of the original company into Carewell Exim Private Limited. Effective May 14, 2026, the merged entity has been renamed back to Sanco Industries Limited and converted into a public company. This marks the formal completion of the legal transition under the NCLT-approved resolution plan.
- Resolution plan approved by 100% of the Committee of Creditors on April 28, 2023
- NCLT New Delhi approved the final resolution plan on December 18, 2025
- Amalgamation of Sanco Industries into Carewell Exim completed as per clause 4.1.3 of the plan
- Official name change to Sanco Industries Limited and conversion to public status effective May 14, 2026
- Restructuring follows the original insolvency order dated September 29, 2022
Sanco Industries Limited has announced the implementation of its NCLT-approved resolution plan following a Corporate Insolvency Resolution Process (CIRP). The company is being amalgamated into Carewell Exim Private Limited, which is currently converting into a public company to eventually rename itself back to Sanco Industries Limited. The company also confirmed it is not a 'Large Corporate' as it does not meet the ₹1,000 crore debt or AA rating threshold. The new entity intends to relist on the NSE under the symbol 'SANCO' once all statutory and listing formalities are completed.
- NCLT approved the resolution plan on December 18, 2025, following 100% approval from the Committee of Creditors.
- Sanco Industries (Transferor) is amalgamating with Carewell Exim Private Limited (Transferee) under the IBC 2016 framework.
- The company confirmed it does not meet the 'Large Corporate' criteria of ₹1,000 crore long-term borrowings or AA credit rating.
- Carewell Exim has initiated the process to convert into a public limited company and will rename itself Sanco Industries Limited.
- The entity aims to become an active listed entity on the NSE subject to final regulatory and stock exchange approvals.
Sanco Industries Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The filing, covering the quarter and financial year ended March 31, 2026, confirms that all dematerialization requests were processed by the Registrar and Share Transfer Agent (RTA). The RTA, Beetal Financial & Computer Services, verified that physical certificates were mutilated and cancelled within the mandatory 15-day period. This is a standard administrative filing to ensure the integrity of the company's electronic shareholding records.
- Compliance report for the quarter and financial year ended March 31, 2026
- Confirmation of dematerialization requests processed within the 15-day regulatory timeline
- RTA Beetal Financial & Computer Services verified the cancellation of physical certificates
- Ensures company records are updated with depositories as the registered owners
Sanco Industries Limited has informed the National Stock Exchange that its trading window will be closed starting April 1, 2026. This action is taken in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of audited financial results for the quarter and year ending March 31, 2026. The window will remain closed for all designated persons and connected individuals until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be announced in due course.
- Trading window closure effective from April 1, 2026.
- Closure is related to the audited financial results for the quarter and year ended March 31, 2026.
- Window to reopen 48 hours after the financial results are officially declared.
- Applies to all designated persons and specified connected persons of the company.
Sanco Industries is in the final stages of its Corporate Insolvency Resolution Process (CIRP) following the 100% CoC approval of a resolution plan submitted by Mrs. Priti Jain. The plan involves a merger with Carewell Exim Pvt. Ltd. and a transfer of listing status, which is currently being contested by suspended management in the NCLT. Objections include challenges to the Successful Resolution Applicant's (SRA) eligibility under Section 29A and the validity of a recent plan addendum. The outcome of these legal proceedings will determine if the company successfully exits insolvency or faces further delays.
- Resolution Plan approved by 100% of the Committee of Creditors (CoC) in April 2023
- Addendum filed in December 2024 to clarify compliance with SEBI and MCA for the proposed merger
- Suspended director Sanjay Gupta filed IA 1072/2025 and IA 1052/2025 challenging the plan and SRA eligibility
- The plan proposes a reverse merger with Carewell Exim Pvt. Ltd. and transfer of listing status
- Resolution Professional maintains that the SRA and transferee company are eligible under Section 29A of the IBC
Financial Performance
Revenue Growth by Segment
Not disclosed in available documents for the current period; historical revenue data is unavailable due to the company's non-cooperation with rating agencies.
Geographic Revenue Split
100% of operations are centered in Delhi, India, where the company manufactures its PVC products.
Profitability Margins
Net Profit Margin is significantly negative; the company reported a Net Loss of INR 0.07 Cr in June 2024 and a Net Loss of INR 0.55 Cr in March 2024.
EBITDA Margin
Not disclosed in available documents; however, the company's default status on INR 49 Cr of debt indicates a lack of core profitability to service interest obligations.
Capital Expenditure
Not disclosed in available documents; planned CAPEX is likely zero as the company is undergoing insolvency proceedings.
Credit Rating & Borrowing
Credit Rating is 'CRISIL D' (Default) for total bank loan facilities of INR 49 Cr, including INR 28.6 Cr in long-term and INR 20.4 Cr in short-term facilities.
Operational Drivers
Raw Materials
PVC resin and copper are the primary raw materials used for manufacturing PVC wires, cables, and pipes; specific cost percentages are not disclosed.
Capacity Expansion
Current installed capacity for PVC wires, cables, and pipes is not disclosed; no expansion is planned due to the ongoing Corporate Insolvency Resolution Process (CIRP).
Raw Material Costs
Not disclosed in available documents; however, fluctuations in PVC resin prices (linked to crude oil) directly impact the cost of manufacturing pipes and fittings.
Manufacturing Efficiency
Not disclosed in available documents; capacity utilization is likely low given the company's financial insolvency.
Strategic Growth
Expected Growth Rate
0%
Growth Strategy
The company has no active growth strategy; it has been under the Corporate Insolvency Resolution Process (CIRP) since July 29, 2022, following an order from the National Company Law Tribunal (NCLT), New Delhi. The current focus is on debt resolution rather than business expansion.
Products & Services
PVC wires, PVC cables, PVC pipes, and pipe fittings.
Brand Portfolio
Sanco
New Products/Services
No new product launches are planned; expected revenue contribution from new products is 0%.
Market Expansion
No market expansion plans are currently active.
Strategic Alliances
None disclosed; the company is currently managed by Resolution Professional Mr. Arunava Sikdar.
External Factors
Industry Trends
The Indian PVC and cable industry is growing due to infrastructure demand; however, Sanco is unable to capitalize on this trend due to its 'CRISIL D' rating and insolvency status.
Competitive Landscape
The company competes in the fragmented PVC and cable market but is currently disadvantaged by its legal and financial status.
Competitive Moat
The company has no sustainable moat; its default status and failure to provide consolidated financial results indicate a total breakdown of competitive advantage.
Macro Economic Sensitivity
Highly sensitive to interest rates and credit availability; the inability to service INR 49 Cr in debt led to the current default rating.
Regulatory & Governance
Industry Regulations
The company is primarily governed by the Insolvency and Bankruptcy Code (IBC), 2016, and is subject to NCLT proceedings.
Legal Contingencies
The company is undergoing a Corporate Insolvency Resolution Process (CIRP) initiated on July 29, 2022, by the NCLT New Delhi. It also faces compliance issues with SEBI LODR regulations regarding the non-submission of consolidated financial results.
Risk Analysis
Key Uncertainties
The primary uncertainty is the outcome of the CIRP; there is a 100% risk that equity holders may receive no value if the company is liquidated or if the resolution plan favors creditors.
Geographic Concentration Risk
100% of manufacturing is concentrated in Delhi, increasing vulnerability to regional economic or regulatory shifts.
Third Party Dependencies
High dependency on lenders for the INR 49 Cr facility; the 'Issuer Not Cooperating' status indicates a total breakdown in these relationships.
Credit & Counterparty Risk
Extremely high risk; the company has already defaulted on its bank facilities, and its receivables quality is likely impaired.
