SMEs | Business Upturn

Sudarshan Pharma approves migration to BSE main board, plans NSE listing

Aman Shukla — Thu, 21 May 2026 07:17:01 +0000

Sudarshan Pharma Industries Ltd announced that its Board of Directors has approved the migration of the company’s listing and trading from the SME Platform of BSE Limited to the Main Board of BSE, subject to shareholders’ approval.

The board also approved making an application for listing and trading of the company’s equity shares on the Main Board of National Stock Exchange of India Limited (NSE), subject to shareholders’ approval and regulatory clearances.

Further, the company approved the postal ballot notice and calendar of events for seeking members’ approval for the proposed migration from the BSE SME platform to the BSE Main Board, along with the proposed NSE Main Board listing and related matters.

The company has appointed National Securities Depository Limited (NSDL) to provide remote e-voting facilities for the postal ballot process.

Additionally, Mr. Vishal Manseta, Company Secretary in Practice, has been appointed as the scrutinizer for conducting and monitoring the e-voting process in a fair and transparent manner.

According to the company, the postal ballot notice will be sent to shareholders and stock exchanges in due course. The notice will also be available on the company’s official website and the BSE website.

Migration from the SME platform to the main board is generally considered an important milestone for companies as it may improve visibility, liquidity, and wider investor participation.

KP Green Engineering H2 FY26 profit surges 68% to ₹77.43 crore; EBITDA margin expands to 20.57%

Aditya Bhagchandani — Fri, 08 May 2026 03:57:45 +0000

KP Green Engineering Limited, listed on the SME segment, posted robust results for the half year ended March 31, 2026, with net profit jumping 68.3% year-on-year to ₹77.43 crore from ₹46 crore in the corresponding period of the previous fiscal year.

Revenue from operations for H2 FY26 came in at ₹713.49 crore, up approximately 65% from ₹432.28 crore in H2 FY25. Total income for the period stood at ₹713.94 crore compared with ₹435.51 crore a year earlier.

How did EBITDA margins trend in H2 FY26?

Operational profitability improved materially. EBITDA for H2 FY26 stood at ₹147 crore against ₹68.3 crore in H2 FY25, a jump of over 115% year-on-year. EBITDA margin expanded significantly to 20.57% from 15.8% in the year-ago half year, pointing to improving operating leverage as the company scaled its renewable energy engineering business.

Profit before exceptional items and tax for the half year was ₹105.93 crore, up from ₹64.18 crore in H2 FY25.

Full-year FY26 performance

For the full year ended March 31, 2026, KP Green Engineering reported revenue from operations of ₹1,245.57 crore, nearly 80% higher than ₹694.64 crore in FY25. Total income stood at ₹1,249.92 crore versus ₹702 crore in the prior year. Full-year net profit came in at ₹135.74 crore, nearly doubling from ₹73.49 crore in FY25.

By implication, H1 FY26 net profit stood at approximately ₹58.31 crore against ₹27.49 crore in H1 FY25, reflecting over 112% growth in the first half as well, suggesting the strong momentum was sustained across both halves of the fiscal year.

Cost and expense trends

Total expenses for H2 FY26 rose to ₹608.01 crore from ₹371.33 crore in H2 FY25, tracking the revenue expansion. Cost of materials consumed remained the dominant line at ₹493.05 crore. Finance costs climbed to ₹25.76 crore from ₹3.85 crore, and depreciation rose to ₹15.52 crore from ₹3.47 crore, reflecting the company’s expanded operational footprint. Total tax expense for the half year was ₹28.50 crore.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult a registered financial advisor before making any investment decisions. Business Upturn does not hold any position in the securities mentioned.

Brand Liaison India Launches ‘Check Your Eligibility’ Tool to Simplify Product Certification

News Desk — Mon, 13 Apr 2026 11:36:24 +0000

This Initiative will help MSMEs manage their Product Compliance in an efficient manner.

Brand Liaison India has officially launched its new “Check Your Eligibility” (CYE) tool, which is a dedicated initiative that has been designed to help MSMEs, startups, manufacturers, and importers understand and manage product compliance requirements in India with utmost ease and convenience.

There is a rapid emergence of a highly regulated and opportunity-driven market, and businesses often face challenges in identifying the right compliance and certifications required for their products. The newly introduced Check Your Eligibility (CYE) initiative by Brand Liaison aims to simplify this process by offering a clear and completely structured compliance pathway before entering the Indian market.

Common Compliance Issues While Entering the Indian Market

Entering the Indian market requires businesses to comply with multiple product certifications, such as BIS, TEC, WPC, BEE, EPR, and more. However, due to misunderstood or even scarce information along with continuously evolving regulations, many businesses struggle with several aspects, such as:

– Lack of clarity on applicable product certifications.

– Delays in approvals and documentation.

– Risk of penalties, product rejections, or shipment holds.

– Difficulty in planning compliance timelines.

– Costly compliance management.

The Check Your Eligibility for product compliance initiative has been specifically designed to eliminate this confusion. This also provides businesses with a simplified solution to assess their readiness for the Indian market.

What is the Check Your Eligibility (CYE) Tool?

The Check Your Eligibility tool is basically a user-friendly digital solution that helps businesses in carefully identifying mandatory certifications based on their product category and regulatory requirements. Through the Check Your Eligibility process, users can have several advantages, such as:

– Understand the required certifications.

– Get clarity on approvals like BIS, TEC, WPC, BEE, and EPR.

– Plan documentation and compliance requirements.

– Avoid penalties, product seizures, & similar regulatory risks.

Whether you want to Check Your Eligibility for a BIS certificate or assess multiple compliance needs at the same time for any product to be sold in the Indian market, the tool provides quick and absolutely reliable insights. This further helps in preparing in advance and meeting the regulator requirements for product certifications.

How does the Check Your Eligibility (CYE) work?

The process to “Check Your Eligibility” is designed to be quite simple and accessible for all business types.

Begin the CYE process by visiting the Brand Liaison website and clicking on “Check Your Eligibility button” Then, follow the given steps:

1. Enter basic details and verify through OTP

2. Select product category or compliance required

3. Choose your business type

4. Answer a few questions in the next step

5. Submit the response and receive the eligibility report through email

Within minutes, users get a clear roadmap to move forward with the required compliance for their product categories.

Benefits of CYE for Businesses

Using the CYE initiative, MSMEs and enterprises can avail themselves of a range of benefits. Some of the many boons include:

– Ensuring legal entry of products into the Indian market.

– Reducing compliance risks and avoiding penalties.

– Preventing customs delays and shipment rejections.

– Planning certification timelines and budgets in an effective manner.

– Improving overall business readiness and market confidence.

The ability to Check Your Eligibility for product compliance early definitely helps businesses save time, cost, as well as effort.

About Brand Liaison

Brand Liaison is a top compliance management consultancy in India, offering expert services for product certifications, regulatory approvals, and support for market entry. Known for its reliable as well as cost-effective solutions, the company has assisted several businesses both pan-India and globally. They have helped domestic and international brands in achieving seamless compliance in the Indian market.

Conclusion

In today’s highly regulated Indian market, product compliance is not just a requirement but an essential step toward building a reliable and successful business. Understanding which certifications apply to your product can often be confusing. This is where the Check Your Eligibility initiative makes a real difference.

Businesses can actually gain early clarity on compliance requirements, plan their certification journey better, and avoid unnecessary delays or risks. By taking this first step, businesses can ensure smoother market entry, better planning, and long-term growth in India. With the support of Brand Liaison, managing compliance becomes more structured, efficient, as well as absolutely accessible for all.

FAQs

1. What is the Check Your Eligibility (CYE) tool?

It is a digital tool by Brand Liaison that helps businesses identify required product certifications in India quickly and easily.

2. Which certifications can be checked through CYE?

The tool covers major certifications like BIS, TEC, WPC, BEE, and EPR based on your product category.

3. Is the CYE tool useful for BIS certification?

Yes, it helps to determine whether your product requires BIS certification and guides you on the next steps for the same.

4. How long does it take to get the eligibility report?

The report is generated within minutes after completing the process and is shared to your registered email.

5. Can the CYE tool help avoid penalties?

Yes, by identifying mandatory certifications early, it helps businesses avoid non-compliance risks and penalties.

6. What happens after checking eligibility?

Businesses can proceed with certification, and Brand Liaison can assist with end-to-end compliance support.

Sunita Tools signs MoU with U.S. firm to support defence contract bidding

Aman Shukla — Tue, 10 Mar 2026 06:17:05 +0000

Sunita Tools Limited has announced the signing of a Memorandum of Understanding (MoU) with a United States-based company to support the bidding and execution of upcoming defence contracts related to various caliber shells, particularly the 155 M107 artillery shell, from U.S.-based military companies.

Under the agreement, the American partner will assist Sunita Tools in managing the bidding process and completing all required formalities associated with potential defence orders in the United States. The partner company will also help the firm navigate regulatory requirements, coordinate with government authorities, and manage documentation and payment procedures related to the contracts.

The collaboration will include on-ground support in the U.S. market, covering logistics coordination, liaison with defence companies, and follow-up on operational and administrative processes. In return for these services, the U.S. partner will receive a mutually agreed percentage-based share from any orders that are successfully finalized through the arrangement.

The partnership is expected to streamline compliance with local laws and regulations in the United States while improving operational efficiency during the execution of defence contracts. By leveraging local expertise and networks, Sunita Tools aims to strengthen its ability to secure and execute orders in the North American defence market.

IBL Finance CFO Dhaval Bipinbhai Mashru resigns, effective 9 April 2026

Business Desk — Mon, 09 Mar 2026 11:10:01 +0000

IBL Finance has announced the resignation of its Chief Financial Officer, Mr. Dhaval Bipinbhai Mashru. The resignation will take effect from the close of business hours on 9 April 2026. Mr. Mashru cited career opportunities outside the company and personal commitments as reasons for his decision to step down.

The company confirmed that Mr. Mashru’s resignation letter will be presented to the Board of Directors at the upcoming board meeting for consideration and formal acceptance. Mr. Mashru has expressed his willingness to support a smooth transition during this period.

Mr. Mashru has been a part of IBL Finance and has contributed to the company’s financial management. His departure marks a significant change in the company’s executive team. The company has not yet announced a successor for the CFO position.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Business Desk and reviewed by Aditya Bhagchandani before publication.

AVP Infracon secures Rs 76.26 crore contract for NH-81 bypass construction

Business Desk — Mon, 09 Mar 2026 08:25:36 +0000

AVP Infracon has been awarded a significant contract by the National Highways Authority of India (NHAI) for the construction of a bypass in Tamil Nadu. The project, valued at approximately ₹76.26 crore, involves the development of a bypass to Gangaikonda Cholapuram in the Kallagam to Meensurutti section of NH-81, previously known as NH-227.

The contract, awarded on an Engineering, Procurement, and Construction (EPC) mode, is expected to be completed within a 12-month timeframe. The project is part of the domestic infrastructure development initiatives by NHAI, with no involvement of international entities.

AVP Infracon has confirmed that there is no interest from its promoters or promoter group in the NHAI, and the contract does not fall under related party transactions. This project adds to AVP Infracon’s growing portfolio of infrastructure projects across India.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Business Desk and reviewed by Aditya Bhagchandani before publication.

BMW Ventures bags Rs 36 crore structural steel order for BHEL project

Aman Shukla — Thu, 26 Feb 2026 09:31:40 +0000

BMW Ventures Limited has secured its largest order worth ₹36 crore for the supply of structural steel under a project of Bharat Heavy Electricals Limited (BHEL). The order has been awarded to the company’s Fabricated Steel Manufacturing Division and will be executed over a period of 10 months from the date of the purchase order.

The contract involves the supply of fabricated structural steel for a BHEL project. According to the company’s disclosure under Regulation 30 of the SEBI Listing Regulations, the total order value stands at ₹36 crore, including taxes. The name of the awarding customer has not been disclosed due to confidentiality requirements.

As per the terms of the contract, an advance payment for raw materials has already been received, while the remaining payment will be made upon delivery. The order has been awarded by a domestic entity, and the entire execution will take place within India.

The company has clarified that neither the promoter group nor any group companies have any interest in the awarding entity. Additionally, the contract does not fall under related party transactions.

This order marks a significant milestone for BMW Ventures Limited, strengthening its order book and reinforcing its presence in the structural steel and fabricated steel segment. The development is expected to support revenue visibility over the next 10 months as the execution progresses.

Infinity Infoway secures Government contract worth Rs Rs 10.97 crore from Knowledge Consortium of Gujarat for AI-based data analytics project

Aman Shukla — Thu, 26 Feb 2026 04:11:47 +0000

Infinity Infoway Limited has secured a government contract worth approximately Rs 10.97 crore from Knowledge Consortium of Gujarat under the Education Department, Government of Gujarat. The agreement was signed on February 25, 2026, and will span a period of five years.

The contract involves the design, development, implementation, testing, operations and maintenance of AI-based Data Analytics Services (Version 2). The scope includes setting up a Big Data Analytics platform, establishing a self-service Business Intelligence (BI) framework, building a centralized data repository, enabling API integration, developing dashboards and delivering comprehensive reporting solutions at the buyer’s premises.

The estimated contract value stands at Rs 10.97 crore, inclusive of applicable taxes. The order represents more than 10% of the company’s latest audited turnover, making it financially significant for the company.

Infinity Infoway confirmed that the contract has been awarded in the ordinary course of business and aligns with its existing line of operations in technology and data-driven solutions. The company also clarified that the transaction does not fall under related party transactions and that neither the promoter nor promoter group entities have any interest in the awarding authority.

SME investor? 25 recently listed stocks tumble up to 80%, exposing risks in high-flying segment

Riddhima Jain — Tue, 24 Feb 2026 02:35:08 +0000

Read the full article on Business Upturn

Hemant Surgical Industries bags Rs 264.33 crore order from CMSS for flat panel detectors and x-ray equipment

Aman Shukla — Thu, 19 Feb 2026 08:40:37 +0000

Hemant Surgical Industries Limited has received purchase orders worth ₹264.33 crore (inclusive of all taxes and duties) from the Central Medical Service Society (CMSS), which functions under the Ministry of Health and Family Welfare, Government of India. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The purchase orders, dated December 2, December 10 and December 31, 2025, are for the supply of Flat Panel Detectors with two batteries and routers, hard travel cases, X-ray generators and related utilities. These medical imaging systems play a crucial role in strengthening diagnostic capabilities across public healthcare institutions.

According to the company, the final commercial terms, including the detailed delivery schedule, are still under discussion and finalisation. However, considering the national importance of the project and the request made by CMSS, Hemant Surgical Industries has agreed to commence supplies on an interim basis. The company stated that once the final commercial terms are concluded, further intimation will be provided.

The order is classified as a domestic contract and will be executed in tranches, with completion targeted by September 30, 2026, subject to negotiations, agreed terms and any extension sought by the company. Hemant Surgical Industries also clarified that the transaction does not fall under related party transactions and that neither the promoter nor the promoter group has any interest in the awarding entity.

Highway Infrastructure secures Rs 32 crore NHAI toll operations order in Uttar Pradesh

Aman Shukla — Tue, 06 Jan 2026 07:03:31 +0000

Highway Infrastructure Limited (HIL), an integrated infrastructure development and management company, has received a new Letter of Award from the National Highways Authority of India (NHAI) for toll operations at the Jawar Fee Plaza in Uttar Pradesh. The project is located at Km 37.100 on the Mathura–Devinagar Bypass section of NH-530B, further strengthening the company’s presence on key national highway corridors.

The Letter of Award is valued at ₹32 crore and is valid for a period of one year. The mandate includes user fee collection and end-to-end operations management, along with the upkeep and maintenance of adjacent toilet blocks and related consumables on the highway stretch.

This order enhances revenue visibility for Highway Infrastructure Limited and adds strength to its toll operations portfolio. Following this addition, the company’s consolidated order book has crossed ₹1,000 crore, reflecting steady execution momentum and continued trust from awarding authorities.

Commenting on the development, Arun Kumar Jain, Managing Director of Highway Infrastructure Limited, said that the new order reinforces the company’s focus on expanding its toll operations business. The growing order book is expected to support margin stability while improving long-term earnings visibility.

Remsons Industries wins Rs 60 crore business award from leading Indian CV OEM

Aman Shukla — Fri, 02 Jan 2026 04:36:23 +0000

Remsons Industries Limited has secured a significant new business award from a leading Indian commercial vehicle (CV) original equipment manufacturer, strengthening its position in the domestic automotive components space. The company has received an order worth ₹60 crore for the supply of gear shifter systems along with push-pull cables, according to its regulatory disclosure.

The contract has been awarded by a domestic CV OEM and covers the supply of gear shifters integrated with push-pull cable assemblies, which are critical components used in commercial vehicle transmission systems. As per the company, supplies under this order are scheduled to commence from Q1 of FY2026–27, reflecting visibility of revenues over the medium term.

The total order value of ₹60 crore will be executed over a period of 60 months, or five years. This long-term execution timeline provides stable business visibility for Remsons Industries and aligns with its focus on expanding its presence with large Indian vehicle manufacturers.

Remsons Industries clarified that the order has been awarded by an Indian entity and is entirely domestic in nature. The company also confirmed that neither the promoter nor the promoter group has any interest in the awarding entity. Additionally, the contract does not fall under related-party transactions.

Mini Diamonds signs MoU with Cupid Diamonds for steady lab-grown diamond supply

Aman Shukla — Tue, 23 Dec 2025 03:12:56 +0000

Mini Diamonds (India) Limited has announced a new strategic move to strengthen its raw material sourcing as it signed a Memorandum of Understanding (MoU) with Cupid Diamonds Private Limited, a Mumbai-based lab-grown diamond company.

As per the MoU, Cupid Diamonds will provide Mini Diamonds with priority access to a regular monthly supply of lab-grown diamond rough. The proposed supply volume is estimated at around 30,000 to 40,000 carats per month, subject to mutually agreed commercial terms between the two parties.

The arrangement is aimed at supporting Mini Diamonds’ expanding manufacturing operations in the lab-grown diamond segment. By securing a consistent and predictable supply of rough diamonds, the company expects to strengthen its supply chain and improve raw material availability for the production of lab-grown polished diamonds.

Management indicated that this priority supply access is expected to help improve capacity utilisation at its manufacturing facilities and support a more disciplined scale-up of operations. With steady access to key inputs, Mini Diamonds aims to better plan production cycles, reduce supply-related uncertainties, and meet growing demand in the lab-grown diamond market.

Onix Solar Energy bags Rs 148.80 crore order from Vikran Engineering for Non-DCR TOPCon Modules

Aman Shukla — Wed, 10 Dec 2025 05:47:33 +0000

Onix Solar Energy has announced that it has received a Letter of Intent from Vikran Engineering Limited for the supply of its Non-DCR TOPCon 620 Wp solar modules. The deal, valued at ₹148.80 crore excluding GST, marks a significant addition to the company’s order pipeline and strengthens its position in the domestic renewable energy market.

According to the disclosure, the order covers the design, manufacturing, factory acceptance and supply of 193,550 units of the Non-DCR TOPCon 620 Wp modules, which will be deployed across Vikran’s upcoming solar projects. The entire supply is scheduled to be completed within three months from the date Vikran issues its Manufacturing Clearance, indicating an aggressive execution timeline.

The company confirmed that the promoters or promoter group have no interest in this order and that the transaction does not fall under related-party dealings. With demand for high-efficiency TOPCon modules rising across India, this contract is expected to contribute meaningfully to Onix Solar Energy’s revenue visibility in the coming quarters.

Why is DroneAcharya Aerial Innovations down 20% today? Explained

Aditya Bhagchandani — Tue, 02 Dec 2025 06:45:48 +0000

DroneAcharya Aerial Innovations shares crashed 20% on Tuesday, continuing their sharp decline for the second straight session as the stock once again hit the lower circuit within minutes of market opening. The selling pressure intensified after the company, its promoters, and associated entities were penalised and barred by SEBI for serious violations involving misutilisation of IPO proceeds, fraudulent corporate disclosures, and misleading financial reporting.

The BSE-listed SME stock had already fallen sharply on Monday after SEBI’s enforcement order released on Friday triggered panic among investors. On Tuesday, the stock price opened weak at Rs 36.31 and immediately touched the 20% lower circuit, signalling sustained bearish sentiment.

According to SEBI’s 105-page order, DroneAcharya and its promoters — Prateek Srivastava and Nikita Srivastava — were found guilty of diverting IPO funds, inflating revenues and profits, and issuing misleading announcements to artificially maintain share prices, allowing pre-IPO investors to exit at favourable valuations.

SEBI imposed penalties totalling Rs 75 lakh, which include:

Rs 20 lakh each on promoter & MD Prateek Srivastava and promoter & CFO Nikita Srivastava
Rs 10 lakh each on DroneAcharya Aerial Innovations Ltd (DAIL), Instafin Financial Advisors LLP, and Sandeep Ghate
Rs 5 lakh on Micro Infratech Pvt Ltd

The regulator also noted that the company had misrepresented financials by booking inflated income from Triconix and IRed, failed to disclose deviations in IPO fund usage, and issued incorrect statements in its prospectus.

Following these findings, SEBI has barred DroneAcharya, its promoters, and key associated entities from accessing the securities market for up to two years. Micro Infratech faces a one-year ban.

DroneAcharya had raised Rs 33.96 crore through its IPO and was listed on the BSE SME platform on December 23, 2022. The regulator said the company deviated from its IPO objectives without shareholder approval and issued misleading disclosures to boost investor interest.

The severe regulatory action and allegations of financial manipulation have triggered intense selling, leading the stock into multiple consecutive lower circuits.

Sayaji Hotels signs Hotel Management Agreement with Om Shivam Buildcon to manage new 4-star hotel in Nagpur

Aman Shukla — Tue, 18 Nov 2025 06:11:13 +0000

Sayaji Hotels Limited has taken another step toward strengthening its presence in Maharashtra by signing a long-term Hotel Management Agreement with Om Shivam Buildcon Private Limited. Under this partnership, Sayaji Hotels will oversee the operations and management of a brand-new 4-star property located in Hingna, Nagpur, Maharashtra, pin code 441108.

The agreement allows Sayaji Hotels to manage and operate the hotel for 15 years starting from the date the property becomes commercially operational. Once this period ends, the contract can be renewed for additional five-year terms based on mutually agreed conditions, making it a long-term collaboration aimed at steady growth.

The upcoming hotel will operate under the “Effotel by Sayaji” brand, which is known for providing modern comfort, reliable hospitality, and value-driven experiences. The property itself is planned to feature 115 well-designed rooms along with two banquet halls, two restaurants, two board rooms, a gym, and a spa. With these facilities, the hotel is expected to attract both corporate and leisure travellers in a rapidly developing part of Nagpur.

The company also confirmed that this agreement does not fall under Related Party Transactions, and all terms are aligned with standard commercial practices. Beyond this, no additional disclosures were required at the time of the announcement.

Le Merite Exports Q2 FY26: profit soars 186% YoY despite 28% dip in revenue

Aditya Bhagchandani — Wed, 12 Nov 2025 07:12:39 +0000

Le Merite Exports Limited, an NSE SME-listed textile company, announced its consolidated financial results for the half-year ended September 30, 2025 (H1 FY26), reporting a significant rise in profitability driven by cost discipline and stable revenue performance.

Revenue performance

For the half year ended September 2025, revenue from operations stood at Rs 212.6 crore, compared to Rs 296.9 crore in the same period last year — marking a decline of 28.4% year-on-year. Including other income of Rs 2.26 crore, the company’s total income reached Rs 214.9 crore, down 28.7% YoY from Rs 301.7 crore in H1 FY25.

Despite the moderation in topline, Le Merite Exports maintained operating efficiency through effective cost control and working capital management.

Expenses and operating margins

Total expenditure during the half-year period was Rs 203.9 crore, compared to Rs 297.5 crore a year earlier, reflecting a drop of 31.4% YoY.

Key cost components included:

Purchases: Rs 185.99 crore (vs Rs 272.51 crore in H1 FY25)
Employee benefits: Rs 8.02 crore (vs Rs 14.31 crore YoY)
Finance cost: Rs 3.89 crore (vs Rs 4.42 crore YoY)
Depreciation: Rs 0.69 crore (vs Rs 0.45 crore YoY)
Other expenses: Rs 10.93 crore (vs Rs 11.63 crore YoY)

The reduction in material and administrative costs contributed to stronger operating leverage during the period.

Profit and tax

Le Merite Exports reported a profit before tax (PBT) of Rs 10.94 crore, compared to Rs 4.23 crore in the corresponding period last year — an increase of 158.6% YoY.

After accounting for tax expenses of Rs 2.45 crore, the company’s net profit stood at Rs 8.49 crore, up 186% year-on-year from Rs 2.97 crore in H1 FY25.

The company also recorded a minority interest adjustment of Rs 0.03 crore, bringing the profit for the year to Rs 8.51 crore.

Financial summary (Rs crore)

Particulars	H1 FY26	H1 FY25	YoY % Change
Revenue from operations	212.6	296.9	-28.4%
Other income	2.3	4.9	-53.0%
Total income	214.9	301.7	-28.7%
Total expenditure	203.9	297.5	-31.4%
Profit before tax	10.9	4.2	+158.6%
Net profit	8.5	3.0	+186.0%

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

K2 Infragen appoints Vikas Lakhanpal as Wholetime Director to drive strategic growth and operational excellence

Aditya Bhagchandani — Thu, 06 Nov 2025 07:10:41 +0000

Infrastructure major K2 Infragen Ltd has announced the appointment of Vikas Lakhanpal as Additional Director (Executive) and Wholetime Director for a term of five years, subject to shareholder approval. The move marks a key leadership expansion aimed at strengthening the company’s strategic and operational capabilities.

Lakhanpal, who brings nearly three decades of experience across global supply chain management, operations, and business transformation, will lead K2 Infragen’s supply chain function and play a pivotal role in enhancing operational efficiency and execution across projects.

He has previously held senior positions with leading multinational corporations such as Honda Motors, LG, Honeywell, Indus Towers, and American Towers. A mechanical engineer and an alumnus of the Indian School of Business (ISB), Lakhanpal is also a certified Six Sigma and Lean Expert with a proven track record in process excellence and large-scale transformation initiatives.

Commenting on his appointment, Lakhanpal said,

“K2 Infragen is poised to create value across the infrastructure domain it operates in, delivering exceptional growth in the coming years. Joining the Board presents an exciting opportunity to help shape the company’s next phase of strategic growth. I look forward to collaborating with the leadership team to drive operational excellence and inclusive growth that benefits all stakeholders.”

Pankaj Sharma, Managing Director & CEO of K2 Infragen, stated that Lakhanpal’s appointment reinforces the company’s commitment to strong leadership and long-term value creation.

“His presence spearheading supply chain and operations will strengthen project execution capabilities and optimize cash flows across project domains,” Sharma added.

K2 Infragen has been actively involved in major national projects, including NHAI road infrastructure initiatives and the Jal Jeevan Mission, aimed at improving access to clean drinking water. The company is also expanding aggressively into Transmission & Distribution (T&D) and Railway projects, with direct bids worth approximately Rs 450 crore in the first half of FY25-26.

Founded in 2015, K2 Infragen Limited is an integrated EPC (Engineering, Procurement & Construction) company executing large-scale projects across roads, railways, power, civil construction, water, and renewable energy sectors. It serves clients such as NHAI, North Western Railways, Hindustan Copper, L&T, TATA, HG Infra, and GR Infra, and operates across Uttar Pradesh, Gujarat, Rajasthan, Karnataka, Madhya Pradesh, Odisha, Bihar, Haryana, and Delhi NCR.

Thailand to channel 40 billion baht from FIDF for SME relief fund under ‘Quick Big Win’ plan

Aditya Bhagchandani — Thu, 06 Nov 2025 07:09:22 +0000

The Thai government is preparing to draw nearly 40 billion baht from the Financial Institutions Development Fund (FIDF) to establish a new SME relief fund designed to reduce debt burdens and provide low-interest business loans to small and medium-sized enterprises (SMEs) struggling with liquidity issues.

This initiative is part of Prime Minister and Interior Minister Anutin Charnvirakul’s “Quick Big Win” economic policy, aimed at reviving Thailand’s economy within four months through five key pillars — stimulating tourism and consumption, resolving household debt, supporting SMEs, promoting savings, and building future industries.

Funding plan through FIDF contributions

According to the Ministry of Finance, the SME fund will be financed through the FIDF — the same mechanism previously used for the “You Fight, We Help” scheme. Under the proposal, half of the 0.46% annual contribution that commercial banks make to the FIDF (about 0.23%) will be diverted to create a central pool of approximately 39 billion baht annually for SME support and economic recovery programmes.

Each year, financial institutions contribute around 80 billion baht to the FIDF. Redirecting part of this contribution is seen as a fiscally neutral move, since it does not use taxpayer money or affect the country’s public debt ceiling.

However, critics warn that repurposing FIDF funds — originally intended to repay debts from the 1997 Asian Financial Crisis — could delay the Bank of Thailand’s (BOT) target of clearing those debts within six years, potentially extending repayment to as long as a decade.

Challenges facing SMEs

Officials noted that SMEs are facing multiple headwinds, including declining competitiveness, Chinese import pressure, and the aftershocks of the COVID-19 pandemic, which continue to suppress demand. Many smaller firms are also struggling to access credit as banks have tightened lending standards amid heightened risks and costs.

Once the household debt restructuring plan under the asset management company (AMC) model is rolled out, the government plans to immediately activate this third economic pillar — direct SME assistance through liquidity and low-interest funding.

Two funding options on the table

The government is currently considering two financing structures:

Splitting bank contributions: Redirecting half of the annual 0.46% FIDF contribution (0.23%) toward SME support while continuing debt repayment with the other half.
Creating a new central government fund: Establishing a state-managed pool dedicated to SME financing, with strict oversight to maintain fiscal discipline.

A long-term economic bridge

Authorities emphasised that the SME fund is not a temporary relief scheme but a long-term stabilisation measure. With SMEs accounting for over 70% of Thailand’s workforce and contributing more than 35% of GDP, policymakers see the initiative as a “critical bridge” to sustain grassroots businesses and prevent a broader economic slowdown.

The programme will link liquidity support with debt restructuring, helping viable SMEs avoid default and remain competitive. By doing so, the government hopes to strengthen Thailand’s economic recovery and ensure inclusive growth across key sectors.

Amazon Global Selling powers $20bn in Indian exports! Aims to quadruple exports to $80bn by 2030.

Riddhima Jain — Tue, 28 Oct 2025 12:24:24 +0000

Amazon has announced that it has crossed $20 billion in cumulative e-commerce exports from India, achieving its 2025 target ahead of schedule through its Amazon Global Selling program. The company has now set a new ambitious goal to reach $80 billion in exports by 2030.

Launched in 2015, Amazon Global Selling has helped over two lakh (200,000) Indian entrepreneurs and small businesses reach customers in more than 18 international marketplaces, including the US, UK, UAE, Germany and Canada. The total exporter base has grown by 33 per cent in the past year, the company said.

Among the top exporting states are Delhi, Rajasthan, Gujarat, Uttar Pradesh, Tamil Nadu, Maharashtra and Haryana, with Maharashtra accounting for over 22,000 exporters. Sellers from the state are seeing strong demand for home, toys, health and personal care, kitchen, and office products across major global markets. Pune, Mumbai and Thane also feature among Amazon’s top 50 exporting cities.

Srinidhi Kalvapudi, Head of Amazon Global Selling India, said, “Since 2015, Amazon has enabled $20 billion in cumulative e-commerce exports from India, achieving this milestone ahead of the 2025 target. This momentum reflects the ambition of Indian businesses and the growing role of e-commerce exports in global trade. We aim to simplify global selling via leveraging tech and creating a favourable ecosystem.”

Sarvesh Agarwal, Founder of HomeMonde, one of Amazon’s exporting partners, added, “With Amazon Global Selling, we’ve not just been able to sell globally, but also been able to study market trends, reach eco-conscious buyers, and manage our logistics seamlessly. Every rug we sell tells a story — of skill, sustainability, and India’s rich craft heritage.”

With a rising number of Indian businesses turning to global markets, due to increased global demand, a competitive local manufacturing and sourcing base, and stronger digital infrastructure. And as e-commerce opens new global avenues, Amazon Global Selling will keep focusing on enabling Indian businesses to tap into global demand and contribute to India’s export ambitions and fuel the ‘Make in India’ story.

Emerald Finance partners with Shreeja Diamond & Jewellery to offer Early-Wage Access program

Aman Shukla — Wed, 22 Oct 2025 11:19:08 +0000

Emerald Finance has announced a strategic partnership with Shreeja Diamond & Jewellery Manufacturing LLP, Mumbai, to introduce its Early-Wage Access program for the company’s employees. This initiative is designed to provide instant financial relief by allowing employees to access a portion of their salaries throughout the month seamlessly.

Aligned with its vision to expand financial solutions and serve retail customers more effectively, Emerald Finance has been developing a salary advance product. The program offers short-term loans to employees, which are repaid through salary deductions, ensuring a convenient and secure process.

This partnership marks a significant step in Emerald Finance’s efforts to enhance employee financial well-being while providing innovative salary-based lending solutions.

Power and Instrumentation (Gujarat) secures Rs 21.39 crore order from ATS Techno

Aman Shukla — Fri, 17 Oct 2025 05:47:13 +0000

Power and Instrumentation (Gujarat) Limited has received a significant work order worth Rs 21.39 crore (including taxes) from ATS Techno Limited. The project involves the design, supply, installation, testing, commissioning, and client handover of factory sheds located at plots 9, 10, and 11 in the Star Platinum Industrial Park, Gam Kuha, along the Ahmedabad-Indore Highway in Gujarat.

The contract is expected to be completed within 12 months and is entirely domestic. The company confirmed that neither the promoters nor promoter group have any interest in ATS Techno Limited, and the order is not a related-party transaction, ensuring transparency and adherence to regulatory norms.

This order is a notable addition to Power and Instrumentation (Gujarat) Limited’s portfolio and reflects its continued capability to handle large-scale industrial projects.

Viviana Power Tech signs Rs 2,448 crore MoUs with Gujarat government at Vibrant Gujarat Regional Conference 2025

Aditya Bhagchandani — Mon, 13 Oct 2025 05:32:41 +0000

Viviana Power Tech Limited has announced the signing of multiple Memorandums of Understanding (MoUs) worth Rs 2,448 crore with the Government of Gujarat on the opening day of the Vibrant Gujarat Regional Conference (VGRC) 2025.

According to the company’s filing with the National Stock Exchange (NSE), the agreements cover a wide scope of work including design, supply, and execution of substations, power transmission and distribution systems, renewable energy initiatives, smart grid upgrades, and transformer manufacturing. These projects aim to strengthen Gujarat’s clean energy and power infrastructure network.

A subsidiary of the company, Aarsh Transformers Private Limited, will contribute Rs 93 crore as part of the total project value. The agreements are expected to generate employment for over 2,000 people across the state, aligning with Gujarat’s focus on skill development and sustainable industrial growth.

Under the MoU, the Government of Gujarat will extend facilitation support by providing necessary permissions, approvals, and clearances from relevant departments as per the state’s policies and regulations.

Viviana Power Tech, headquartered in Vadodara, operates in EPC (engineering, procurement, and construction) projects of power transmission and distribution systems up to 400 kV.

Disclaimer:
The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.

Nibe Ordnance subsidiary Globe Forge bags Rs 568.64 crore contract from leading global defence firm

Aman Shukla — Wed, 01 Oct 2025 06:26:00 +0000

Nibe Ordnance and Maritime Limited (formerly Anshuni Commercials Limited) has announced that its subsidiary, Globe Forge Limited, has signed a significant contract with a leading global defence company. The agreement involves the supply of empty shells worth USD 64 million, approximately INR 568.64 crores.

The contract, awarded by an international defence entity, is set to be executed in tranches and is expected to be completed by February 2028, subject to necessary statutory and regulatory approvals in the respective countries.

Nibe Ordnance and Maritime clarified that neither the promoters nor group companies have any interest in the entity awarding the contract, and this transaction does not qualify as a related-party transaction.

This deal marks a significant milestone for Globe Forge Limited, reinforcing Nibe Ordnance and Maritime’s growing footprint in the defence manufacturing sector.

Viviana Power Tech approves 3:5 bonus issue; stock in focus

Aditya Bhagchandani — Thu, 25 Sep 2025 07:26:30 +0000

Viviana Power Tech Limited on Thursday, September 25, said its board of directors has approved the issue of bonus equity shares in the proportion of 3:5, i.e., three fully paid-up equity shares for every five shares held by shareholders as on the record date.

The bonus shares will be issued out of free reserves and/or securities premium account as of March 31, 2025. Post issue, the company’s paid-up share capital will increase from ₹6.32 crore to ₹10.12 crore, with an estimated requirement of around ₹3.79 crore from reserves.

The company confirmed that the record date will be intimated separately and bonus shares will be credited or dispatched within two months of the board approval, i.e., on or before November 25, 2025.

Globe Civil Projects secures Rs 13.11 crore project from TCIL at NIT Delhi

Aman Shukla — Fri, 19 Sep 2025 11:03:00 +0000

Globe Civil Projects Limited (NSE: GLOBECIVIL | BSE: 544424) has announced a significant milestone with the receipt of a Letter of Intent (LoI) valued at ₹13.11 crore from Telecommunications Consultants India Limited (TCIL). The project entails the construction of a state-of-the-art Sports Complex along with the supply, erection, testing, and commissioning of an 11 KV HT Ring Main at the prestigious National Institute of Technology (NIT) Delhi campus on an EPC-II basis.

This latest contract underscores the strong trust and confidence institutions continue to place in Globe Civil Projects’ execution capabilities. With its proven track record in delivering large-scale infrastructure projects, the company continues to expand its footprint across India.

The addition of this project not only strengthens Globe Civil Projects’ order book but also enhances its presence in high-value assignments in the infrastructure and construction sector.

B.R. Goyal Infrastructure reports robust order book of Rs 1,442.93 crore in August 2025

Aman Shukla — Wed, 17 Sep 2025 10:25:16 +0000

B.R. Goyal Infrastructure Limited (“BRG Infra”), a fast-growing infrastructure development company, has announced a strong order book position, highlighting its continued growth momentum across diversified segments. As of August 31, 2025, the company’s total order book stood at ₹1,442.93 crore, supported by healthy inflows from new projects and steady execution performance.

Between April 1, 2025 and August 31, 2025, BRG Infra secured fresh contracts worth ₹434.30 crore across key verticals including road construction, building projects, toll collection, and wastewater treatment. These new orders strengthen the company’s market presence and reflect consistent demand for its infrastructure solutions.

On the execution front, the company successfully completed work worth ₹266.00 crore during the same period, registering a growth of nearly 28% compared to ₹208.13 crore in the year-ago period. This improvement underlines BRG Infra’s strong project management skills and timely delivery capabilities.

The unexecuted order book as of August 31, 2025, stood at ₹1,442.93 crore, ensuring clear revenue visibility for the next 6–24 months. The segment-wise order breakup is:

EPC – Roads: ₹882.79 crore
EPC – Buildings: ₹102.43 crore
EPC – Waste Water Treatment: ₹164.34 crore
Toll Collection Contracts (TCC): ₹293.37 crore

The company’s diversified presence across road, building, and wastewater projects, along with toll collection contracts, highlights its balanced business model. With strong order inflows and rising execution efficiency, BRG Infra is well-positioned to sustain growth and strengthen its reputation as a reliable infrastructure developer.

Jay Bee Laminations bags Rs 172.63 crore work orders from ABI Energy Solutions

Aditya Bhagchandani — Mon, 15 Sep 2025 09:33:49 +0000

Jay Bee Laminations Limited on Monday announced that it has secured two significant domestic work orders from ABI Energy Solutions Limited worth approximately ₹172.63 crore.

Details of the orders

The contracts involve the supply of plant and installation services for engineering, procurement, construction, and commissioning of transmission lines and distribution lines across Punjab. The company confirmed that both orders are to be executed within 24 months .

Nature of the deal

The company clarified that the work orders were awarded by a domestic entity and do not fall under related party transactions. It also confirmed that neither the promoter group nor group companies hold any interest in ABI Energy Solutions .

Significance

The new contracts strengthen Jay Bee Laminations’ order book and reaffirm its position in the engineering and transmission space. With a combined value of over ₹170 crore, the deals add visibility to the company’s revenue stream for the next two years.

Envirotech Systems secures Rs 78.44 lakh order from M3M Gurgaon

Aditya Bhagchandani — Thu, 11 Sep 2025 07:26:48 +0000

Envirotech Systems Limited has announced that it has received a domestic order worth approximately Rs 78.44 lakh (excluding taxes) from M3M, 65th Avenue, Sector-65, Gurgaon.

The contract involves the supply and installation of Noise Control Systems for Cooling Towers at the retail project, including acoustic panels, acoustic doors, and soundproof windows.

The company confirmed that the order is strictly domestic in nature and does not involve any related party transactions. Execution will be carried out as per mutual agreement between the two parties

Highway Infrastructure bags NHAI contract worth Rs 18.97 crore for toll plaza operations in Rajasthan

Aman Shukla — Wed, 10 Sep 2025 14:43:57 +0000

Highway Infrastructure Limited has signed a contract agreement with the National Highways Authority of India (NHAI) for the operation of a toll fee plaza on the newly built 4-lane Greenfield Expressway in Rajasthan.

The agreement, finalized on September 10, 2025, follows the Letter of Award received earlier this month. The company is scheduled to take charge of the toll plaza operations from September 11, 2025.

As part of the contract, Highway Infrastructure will be responsible not only for user fee collection but also for the upkeep and maintenance of the adjacent toilet blocks, including replenishment of consumables.

The project, valued at ₹18.97 crore, involves the expressway spur connecting the Delhi–Vadodara Greenfield Expressway near Bandikui to Jaipur. The execution timeline for the contract is 90 days.

Highway Infrastructure confirmed that the order has been awarded by a domestic entity, and there is no promoter group interest or related party transaction involved in this contract.

Power and Instrumentation (Gujarat) bags Rs 9.5 crore solar project

Aman Shukla — Thu, 28 Aug 2025 06:47:21 +0000

Power and Instrumentation (Gujarat) has received an exciting new work order from M/s Sadashiv Projects India Private Limited. The project, valued at ₹9.50 crore (excluding GST), involves the design, engineering, supply, and testing of a 5 MWp solar ground-mounted system, along with the provision of materials and various services across multiple locations in Gujarat.

The company is expected to complete the project within six months, showcasing its strong capabilities in solar energy solutions. Notably, the order has been awarded by a domestic entity, and there are no related party interests involved.

This milestone highlights Power and Instrumentation (Gujarat)’s continued growth and expertise in delivering sustainable energy projects, reinforcing its position as a trusted player in the renewable energy sector.

Lords Chloro board approves fundraising of up to Rs 300 crore via QIP

Aman Shukla — Wed, 27 Aug 2025 11:22:06 +0000

Lords Chloro Alkali Limited has announced that its Board of Directors, in a meeting held on August 27, 2025, approved raising funds of up to ₹300 crore through a qualified institutions placement (QIP). The fundraising plan will be executed in one or more tranches, subject to shareholder approval and necessary regulatory clearances.

The proposed issuance will be through equity shares under Chapter VI of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and relevant provisions of the Companies Act, 2013. The company stated that the issue price will be determined as per applicable laws, including premium, and the amount raised will not exceed ₹300 crore.

In line with disclosure requirements under SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, the company clarified that the issuance is limited to equity shares via QIP, and no preferential allotment, bonus issue, ADR/GDR, or debt instruments are involved in the current fundraising plan.

Alongside the fundraising announcement, the company also informed that its 46th Annual General Meeting (AGM) is scheduled to be held on Monday, September 22, 2025.

Lehar Footwears bags additional order worth ₹74.90 crore for supply of 50,000 toolkits under PM Vishwakarma Scheme

Aman Shukla — Tue, 26 Aug 2025 08:39:09 +0000

Lehar Footwears Limited has received an additional order worth ₹74.90 crore (excluding GST) from the National Small Industries Corporation Ltd. (NSIC) for the supply of toolkits to artisans and craftspeople registered under the PM Vishwakarma Scheme.

As per the company’s disclosure, the order involves the supply of 50,000 toolkits and is scheduled to be executed by July 2026. This latest development marks a significant milestone for Lehar, which entered this business segment in August 2024 and has already secured repeat orders within a year.

The company stated that the order highlights its position as a preferred implementation partner under the scheme, showcasing strong execution capabilities and long-term growth potential in this segment.

Commenting on the development, Mr. Raj Kumar Agarwal, Chairman & Whole Time Director of Lehar Footwears, said: “We are glad to contribute to the Government of India’s PM Vishwakarma Scheme, which empowers traditional artisans and craftspeople. This additional order reflects the trust placed in Lehar’s execution capabilities and strengthens our commitment to supporting skill development and self-reliance at the grassroots level.”

Markolines Pavement secures LOA worth Rs 100 crore from Trans Metalite India

Aman Shukla — Mon, 25 Aug 2025 05:18:05 +0000

Markolines Pavement Technologies Limited has informed that it has received a Letter of Acceptance (LOA) from Trans Metalite India Ltd. amounting to approximately ₹100 crores. The order is for operation and production of patch repair work in the state of Andhra Pradesh. The time period for completion of the work is five years.

The company stated that with this award, its total unexecuted order book as on date stands at over ₹400 crores.

As per the disclosure, the order has been awarded by a domestic company, Trans Metalite India Ltd., and relates to operation and production of patch repair work in Andhra Pradesh. The order does not fall under related-party transactions, and the promoter or promoter group has no interest in the awarding entity.

Brahmaputra Infra successfully completes testing of Rs 116.59 crore Tall Bridge on Bhairabi–Sairang Railway Line

Aman Shukla — Fri, 22 Aug 2025 04:58:00 +0000

Brahmaputra Infrastructure Limited has successfully completed the construction and testing of the Tall Bridge at km 42.36 on the new Broad Gauge railway line from Bhairabi to Sairang. Executed in a joint venture with a contract value of ₹116.59 crore, this achievement marks a significant milestone in the development of one of Northeast India’s most ambitious infrastructure projects.

The Tall Bridge, officially numbered 161–162–163, stands as a remarkable feat of engineering on the Bhairabi–Sairang route. Built as a steel girder bridge, it comprises multiple spans, including two sections of nearly 48 meters and seven spans of 78.8 meters each. The project involved extensive piling and foundation work, erection of steel girders across all spans, concreting, reinforcement, alignment, installation of utilities and safety features, and the implementation of comprehensive protection measures to ensure long-term structural integrity.

The testing process was carried out with precision in line with prescribed engineering standards and safety protocols. It included rigorous load testing, structural strength assessments, and detailed alignment verification, followed by speed trials reaching up to 110 km per hour. After completing the trials, the Commissioner of Railway Safety cleared the bridge for operations at a maximum permissible speed of 90 km per hour, confirming that the structure is safe, reliable, and ready for integration into the railway network.

The completion of this project is a significant step forward for the Bhairabi–Sairang railway line, which has been designed to transform connectivity in the region. By linking previously inaccessible areas, the project is expected to drive economic development, strengthen regional integration, and create new opportunities for growth. The Tall Bridge in particular stands as a symbol of Brahmaputra Infrastructure’s technical capability, dedication to quality standards, and timely execution of large-scale projects.

Adding to its importance, the new railway line, along with the iconic Tall Bridge, is set to be inaugurated by the Hon’ble Prime Minister of India, Narendra Modi. Once operational, the Bhairabi–Sairang line will not only revolutionize transportation across the region but will also act as a catalyst for trade, mobility, and socio-economic development in Northeast India.

Power and Instrumentation (Gujarat) secures Rs 70.55 crore order from Ajmer Vidyut Vitran Nigam

Aman Shukla — Mon, 11 Aug 2025 09:27:36 +0000

Power and Instrumentation (Gujarat) Limited has announced that it has received a significant work order worth ₹70.54 crore (including GST) from Ajmer Vidyut Vitran Nigam Limited (AVVNL). The contract covers the supply, erection, installation, testing, and commissioning of materials and equipment for the development of distribution infrastructure aimed at on-grid electrification of un-electrified households and public institutions.

The project will be executed across nine circles — Ajmer, Banswara, Bhilwara, Chittorgarh, Dungarpur, Pratapgarh, Salumbar, Sikar, and Udaipur — focusing on tribal villages under the Dharti Aaba Janjatiya Gram Utkarsh Abhiyana (DA-JGUA) initiative, implemented under the Revamped Distribution Sector Scheme (RDSS).

This turnkey project is scheduled for completion within 12 months and is part of AVVNL’s mission to improve rural electrification and strengthen power distribution networks. The order is from a domestic entity, and there is no related party involvement.

B.R. Goyal wins Rs 70.39 crore NHAI toll collection contract for Aashpur Fee Plaza

Aman Shukla — Fri, 08 Aug 2025 08:08:12 +0000

B.R. Goyal Infrastructure Limited has announced that it has secured a significant work order from the National Highways Authority of India (NHAI) for toll collection and maintenance services at the Aashpur Fee Plaza in Uttar Pradesh. The contract, valued at ₹70.39 crore, was awarded through competitive bidding via e-tender.

Under the agreement, the company will handle user fee collection at Km 231.100 of NH-91, covering the Aligarh–Kanpur section from design Km 195.733 to Km 240.897 (existing Km 186.000 to Km 229.000). The scope of work also includes upkeep and maintenance of adjacent toilet blocks and replenishment of consumable items.

The project duration is set for one year, and the awarding authority is a domestic entity. The order is not related to any promoter group or related party transactions.

This new contract strengthens B.R. Goyal Infrastructure’s presence in the road infrastructure and toll management sector, highlighting its growing role in highway operations and maintenance projects across India.

Alan Scott Enterprises acquires controlling stake in two tech firms, sets up two new AI and drone subsidiaries

News Desk — Thu, 24 Jul 2025 13:50:19 +0000

Alan Scott Enterprises Limited (BSE: 539115) announced a strategic expansion in the technology sector by acquiring controlling stakes in two private companies and establishing two new subsidiaries, as part of its broader growth and innovation roadmap.

In a regulatory filing, the company stated that it has completed or is in the process of completing the following transactions:

1. Acquisition of Alanscott Learnix Private Limited

Alan Scott Enterprises has acquired a 58% stake in Alanscott Learnix Private Limited (ASLPL) for ₹58,000, making it a subsidiary. Incorporated in June 2025, ASLPL focuses on AI-driven educational solutions, including intelligent assessments and immersive lab environments aimed at transforming personalized learning in India.

2. Acquisition of Alan Scott Vajrashakti Private Limited

The company also acquired a 65% stake in Alan Scott Vajrashakti Private Limited (ASVPL) through a fresh equity investment of ₹3.25 lakh. ASVPL, established in October 2023, is engaged in the development of frequency-based wellness and energy-saving technologies. It will also contribute to R&D for another group entity, Alan Scott Envirotech.

3. Formation of Alan Scott Bluverge Private Limited

Alan Scott Bluverge Private Limited (ABPL), currently under incorporation, will become a subsidiary with a 59.8% holding. The company will focus on drone-based solutions for agriculture, including precision farming, real-time soil analysis, crop health monitoring, and smart spraying systems.

4. Formation of Alan Scott Omnis AI Private Limited

Alan Scott Omnis AI Private Limited (ASOAPL), incorporated in March 2025, will also become a subsidiary with a 59.8% stake following a ₹5.98 lakh investment. The company will develop enterprise-grade agentic AI tools designed for mission-critical operations, governance, and decision-making frameworks for intelligent autonomous systems.

All four entities are classified as related parties due to promoter group linkages. The company emphasized that each transaction is being executed on a fair and transparent basis to strengthen its position in high-growth, future-focused tech verticals.

Alan Scott Enterprises, formerly Alan Scott Industries Limited, continues to pivot into advanced technology sectors, with these strategic investments expected to reinforce its presence in the AI, edtech, wellness tech, and agritech ecosystems.

Satin Creditcare to launch women-led AIF debt fund to empower MSMEs

News Desk — Thu, 24 Jul 2025 03:30:59 +0000

Satin Creditcare Network Ltd. (SCNL) has announced the launch of a women-led, MSME-focused Alternative Investment Fund (AIF) aimed at bridging the credit gap for small businesses across rural and semi-urban India. The debt fund will be structured as a Category II AIF under SEBI regulations, with a unique approach—placing women at the helm of financial decision-making.

The platform will provide critical debt capital to underserved micro, small, and medium enterprises, with a strong focus on women-led businesses. With an all-women board and investment team, SCNL seeks to institutionalize gender-intentional capital deployment in sectors vital to grassroots livelihoods including agri-tech, health-tech, rural services, education, and manufacturing.

“This is more than just a fund. It’s a platform for systemic change,” said Ms. Aditi Singh, Chief Strategy Officer and ESG Head at Satin Creditcare. “By placing women at the helm—financially, institutionally, and socially—we are not only unlocking enterprise potential but reshaping the future of finance itself.”

The company said the fund aligns with its broader ESG mission and its longstanding goal to advance inclusive finance. It also reflects Satin’s strategic shift from intention to action, aiming for tangible, scalable impact.

Dr. H P Singh, Chairman and Managing Director of SCNL, added:
“Inclusion is not a vertical at Satin, it’s the lens through which we build everything. This fund is not just about bridging funding gaps; it’s about building systems where representation, resilience, and opportunity are embedded in how capital flows.”

The company has presence in over 1 lakh villages across 29 states and union territories, with more than 33.6 lakh clients, and operates through a network of 1,568 branches and 16,705 employees. Beyond microfinance, SCNL also offers MSME loans, affordable housing finance, and digital technology services through its subsidiaries.

Globe Civil Projects bags Rs 172.99 crore NBCC contract for Central University of Punjab development

Aman Shukla — Sat, 19 Jul 2025 14:38:32 +0000

Globe Civil Projects Limited has secured a significant new order from NBCC (India) Ltd. worth ₹172.99 crore. The contract involves the development of key infrastructure and buildings for the Central University of Punjab, located in Village Ghudda, Bathinda district, Punjab.

The project will be executed on an Engineering, Procurement, and Construction (EPC) basis and includes the construction of a range of academic and residential facilities, such as:

A 400-seater Girls’ Hostel
A 600-seater Boys’ Hostel
An Academic Block
A 100-seater International Students’ Hostel
A Vice Chancellor’s Residence
And extensive external development works across the campus

The project is expected to be completed in approximately 21 months.

This latest win highlights Globe Civil Projects’ growing reputation and execution strength in large-scale institutional and educational infrastructure projects. It also reflects the continued trust placed by leading government agencies like NBCC in the company’s ability to deliver quality EPC solutions across the country.

Spunweb Nonwoven IPO allotment finalised: Here’s how to check status online on NSE, MUFG Intime India; listing date and GMP

Aditya Bhagchandani — Sat, 19 Jul 2025 07:47:59 +0000

The allotment status for the ₹60.98 crore Spunweb Nonwoven IPO was finalised on Thursday, July 17, 2025. Investors can now check their allotment status online via the NSE and MUFG Intime India websites.

The IPO saw an overwhelming response, being subscribed 251.32 times, with bids for 1,06,09,58,400 shares against the 42,21,600 shares on offer (excluding the market maker portion), as per Chittorgarh.

The public issue was entirely a fresh issue of 63.52 lakh equity shares, with no Offer For Sale (OFS). The proceeds will be used for working capital, debt repayment, investment in wholly-owned subsidiary SIPL, and general corporate purposes.

Key details of the IPO:

Minimum application: 2 lots (2,400 shares) for retail investors.
Minimum application: 3 lots (3,600 shares) for HNIs.
Price band: ₹96 per share.
Business: Manufacturing of polypropylene spunbond nonwoven fabrics.

How to check Spunweb Nonwoven IPO allotment status

On MUFG Intime India:

Go to MUFG Intime’s IPO allotment page: MUFG IPO Allotment
Select ‘Spunweb Nonwoven Limited’ from the dropdown.
Enter your Application No, PAN, DP/Client ID, or Account No/IFSC.
Click Submit to view the status.

On NSE:

Visit NSE IPO allotment page: NSE IPO Status
Select ‘Equity & SME IPO bid details’.
Choose ‘Spunweb Nonwoven Ltd’.
Enter your PAN and Application No.
Click Submit.

Listing date

Spunweb Nonwoven shares are expected to debut on the NSE SME Emerge platform on July 21, 2025.

Spunweb Nonwoven IPO GMP

According to investorgain.com, the IPO’s grey market premium (GMP) was ₹34, taking the implied share price to ₹130. This reflects a premium of 35.42% over the issue price.

Disclaimer: Grey Market Premium (GMP) is an unofficial indicator and is not regulated by stock exchanges or SEBI. Investors should do their own research or consult financial advisors before making investment decisions.

Mangalam Organics reports fire at Camphor pant in Maharashtra

Aman Shukla — Thu, 17 Jul 2025 06:05:10 +0000

Mangalam Organics has reported a fire incident at one of the divisions of its Camphor manufacturing plant located in Kumbhivali Village, Khopoli, Raigad district, Maharashtra. The fire broke out on the night of July 16, 2025, at around 10:50 p.m., leading to the immediate shutdown of the affected unit.

The blaze was successfully brought under control, but not before causing significant damage to the plant and machinery. Fortunately, there were no injuries or loss of life reported in the incident. The company has confirmed that all necessary safety and containment measures were taken promptly.

Mangalam Organics stated that it is currently assessing the full extent of the loss and is working towards restoring operations at the earliest possible time. The insurance company has been notified, and the company will be filing claims for damages under its comprehensive insurance coverage.

In the meantime, Mangalam Organics shares opened at ₹536.10 on Thursday, hitting a high of ₹554.00 and a low of ₹519.10 during the session. The stock is currently trading well below its 52-week high of ₹720.00 but remains above its 52-week low of ₹340.10.

Bright Outdoor Media appoints Mukesh Sharma as CEO

Aman Shukla — Sat, 12 Jul 2025 11:07:02 +0000

Bright Outdoor Media Limited has announced the appointment of Mukesh Sharma as its new Chief Executive Officer (CEO), effective July 12, 2025. The decision was approved during the board meeting held at the company’s registered office in Mumbai.

As per the company, Sharma, a seasoned professional in the media industry, brings extensive leadership experience to the role, having served previously as Business Head at Mid-Day Infomedia Ltd. His appointment marks a strategic move by the company to strengthen its executive leadership as it enters a new phase of growth.

Alongside the leadership transition, the Board has also approved a significant expansion of the company’s business verticals. Bright Outdoor Media will now diversify into Television, Print, and Radio campaigns, as well as Public Relations, Digital and Social Media Management, Event and Exhibition services, Celebrity and Talent Management, Mall and Retail Media, Cinema and In-Film Branding, Ad Film Production, BTL Activations, and Corporate Gifting Solutions.

This strategic shift is aimed at transforming Bright Outdoor Media into a comprehensive 360-degree marketing and branding powerhouse.

Kore Digital reports strong Q1 FY26 performance with Rs 156 crore sales; OFC project connectivity to Mumbai completed

Aditya Bhagchandani — Wed, 02 Jul 2025 08:26:46 +0000

Kore Digital Limited has announced robust financial performance for the first quarter of FY26, reporting sales of Rs 156 crore. The company, a leading provider of telecommunication infrastructure development services, highlighted a significant year-on-year increase in both total income and net profit for the quarter.

In an official statement on July 2, 2025, Managing Director Ravindra Doshi said the surge in revenue reflects strong demand for the company’s telecommunication infrastructure services.

Kore Digital also announced the successful network connectivity of its Samruddhi Mahamarg Optical Fiber Cable (OFC) project to Mumbai via the Amne interchange through Bhivandi. The company expects this connectivity milestone to accelerate revenue generation, with the first phase of project revenue likely to commence from December 2025 following the completion of part one connectivity by November 2025.

Kore Digital, listed on NSE with the symbol ‘KDL’, continues to expand its infrastructure footprint across Maharashtra, supporting key state highway and telecom projects.

Virtual Galaxy Infotech wins Rs 19.78 crore Core Banking project order from Osmanabad District Central Co-op Bank

Aditya Bhagchandani — Wed, 02 Jul 2025 08:24:40 +0000

Virtual Galaxy Infotech Limited (VGIPL), a BSE SME-listed company, announced that it has secured a work order worth approximately Rs 19.78 crore (excluding taxes) from The Osmanabad District Central Co-operative Bank Limited.

The contract involves the supply, installation, commissioning, and management of a Core Banking Solution, including Data Center setup, Disaster Recovery (DR) site, networking, and connectivity. The project will be executed under a Hybrid SaaS (CAPEX/OPEX) model and will cover a service period of seven years from the project’s go-live date.

According to the company’s filing with the National Stock Exchange on July 2, 2025, Virtual Galaxy is expected to complete the initial implementation within 10 days from the purchase order date.

This is a renewal purchase order from the bank, reflecting Virtual Galaxy’s continued engagement with the client in delivering IT infrastructure and banking technology solutions.

At the time of reporting, shares of Virtual Galaxy Infotech were trading 2.36% higher at Rs 62.25 on the NSE SME platform.

Cybersecurity Becomes Top Priority for Small Businesses

Riddhima Jain — Mon, 30 Jun 2025 12:15:28 +0000

As India’s digital economy expands, a new report released on World MSME Day indicates that Micro, Small and Medium Enterprises (MSMEs) are increasingly prioritizing cybersecurity and cloud investments to enhance operational efficiency. The ‘Ready for Next MSME Growth Insights Study 2025’, published by Vi Business, highlights a steady uptick in the country’s Digital Maturity Index (DMI) — rising from 56.6 in 2023 to 58.0 in 2025.

The study shows that 76% of MSMEs plan to ramp up investment in cybersecurity, while over 72% intend to boost cloud spending. However, the report also underscores that only 12% of MSMEs have achieved full digital maturity, indicating that despite high awareness, the adoption of digital tools remains uneven.

South Indian states lead in digital transformation, with Telangana topping the DMI chart at 71.2, followed by Kerala (63.7) and Maharashtra (59.2). Sector-wise, Financial Services has the highest digital maturity, followed by Transportation and Retail.

Participation in Vi Business’s ‘Ready for Next’ digital maturity assessment platform has grown significantly, with over 2 lakh MSMEs across 15,000 pin codes engaging in the program over the last three years. The platform has been certified by Cyber Media Research as the country’s largest digital advisory initiative for MSMEs.

The study highlights a shift from “digital curiosity to digital commitment,” said Arvind Nevatia, Chief Enterprise Business Officer at Vodafone Idea Ltd. He noted that MSMEs are now seeing technology as a “growth enabler” rather than a cost or utility.

Interestingly, women entrepreneurs are narrowing the digital gap, showing strong participation in cloud and security adoption in sectors like IT and education. Meanwhile, entrepreneurs aged 40–60 reported the highest digital maturity (DMI: 64.0), debunking the perception that digital leadership is confined to younger founders.

Despite these positive trends, the study identifies financial capacity as a key barrier to deeper digital adoption. Larger MSMEs, particularly those with turnovers above ₹50 crore, report significantly greater maturity than smaller or newer businesses, many of whom continue to adopt digital tools in a phased manner.

The findings reflect both optimism and ongoing challenges in India’s path toward digitalizing its MSME backbone. While intent is clearly rising, a combination of financial support and digital advisory will be crucial to translating this momentum into widespread transformation.

South West Pinnacle JV wins Rs 30 crore mining contract in Oman

Aman Shukla — Fri, 27 Jun 2025 05:45:29 +0000

South West Pinnacle Exploration Ltd. has announced that its joint venture company, Alara Resources LLC (ARL), has secured a major contract in Oman. The deal, awarded by Minerals Development Oman (MDO), covers the exploration and mining of key minerals like copper, gold, and chromite in concession areas 12B and 13.

The contract is set to run for approximately two years and is valued at around OMR 13,56,000, which translates to roughly ₹30 crore. Under the agreement, diamond drilling up to 40,000 meters will be carried out in multiple stages.

Minerals Development Oman, the awarding body, is a joint initiative of the Oman Investment Authority and Oman National Investments Development Company (TANMIA). Its goal is to harness the country’s mineral wealth through strategic collaborations like this one.

This development marks a significant step forward for South West Pinnacle Exploration’s international footprint, particularly in the Middle East region. The project does not involve any related party transactions, and there is no promoter interest in the awarding entity, keeping the deal independent and transparent.

Pasupati Acrylon resumes operations after cooling tower fire incident

Aman Shukla — Wed, 18 Jun 2025 11:03:26 +0000

Pasupati Acrylon Ltd. has officially resumed manufacturing operations at its plant following a temporary disruption caused by a fire incident in the cooling tower. The operations were briefly halted as a safety measure after the incident, which occurred on June 14, 2025.

The company acted swiftly to address the situation and restore normalcy. All safety protocols were followed, and necessary repairs were carried out to ensure a safe environment for resuming production.

In the exchange filing, the company said, “This is with reference to our earlier communication dated 14th June, 2025 regarding temporarily disruption of operations due to fire incident in the cooling tower at the Company’s Plant. We hereby would like to inform you that the manufacturing operations at the Company’s Plant have been resumed.”

United Drilling Tools secures Rs 107.55 crore order from ONGC, total order book now Rs 280 crore

Aman Shukla — Mon, 16 Jun 2025 06:35:52 +0000

United Drilling Tools Ltd. (UDTL) has secured a significant order from Oil and Natural Gas Corporation (ONGC) Limited for the supply of large outer diameter (OD) casing pipes with connectors. The order is valued at ₹1075.47 million (including GST) and is scheduled to be executed over approximately nine months.

This order highlights the enduring partnership between UDTL and ONGC, one of India’s most respected public sector undertakings in the oil and gas sector. With this addition, UDTL’s total order book has now grown to approximately ₹2500–2800 million, underscoring the strong trust its clients place in the company’s product quality and service reliability.

This development reaffirms UDTL’s leadership in the oilfield equipment space and its commitment to customer satisfaction, technical excellence, and innovation. The company continues to strengthen its domestic presence while expanding across key international markets, including the Middle East, Southeast Asia, and Africa.

UDTL’s advanced manufacturing facilities, R&D capabilities, and skilled technical team position it strongly to support India’s energy needs and contribute to global oil and gas development.

Astonea Labs SME IPO lists at Rs 137.45, delivers modest 1.81% premium over issue price

Aditya Bhagchandani — Tue, 03 Jun 2025 04:33:27 +0000

Astonea Labs Limited made its market debut on the NSE SME platform today, listing at ₹137.45 per share—1.81% above its issue price of ₹135. Despite high investor interest during the subscription period, the listing gain remained modest.

The ₹37.67 crore SME IPO consisted entirely of a fresh issue of 27.9 lakh equity shares, with no offer-for-sale (OFS) component. The public offering was open between May 27 and May 29, 2025.

The price band for the IPO was set at ₹128 to ₹135 per share, with a minimum lot size of 1,000 shares. Kfin Technologies is the registrar to the issue, and Oneview Corporate Advisors served as the sole book-running lead manager.

Astonea Labs operates in the pharmaceutical and healthcare space, and the IPO proceeds are expected to be used towards working capital requirements, expansion plans, and general corporate purposes.