Sanathnagar Enterprises Ltd (509423)

Sanathnagar Enterprises Limited announced that shareholders approved the reclassification of three promoter group entities to the 'Public' category at the Annual General Meeting held on September 30, 2026. The entities reclassified with immediate effect are Mr. N.P.S. Shinh, Mrs. Manita Shinh, and M/s Continuous Forms (Calcutta) Ltd. Consequently, these holders will no longer appear under the promoter and promoter group category in upcoming shareholding disclosures. This reclassification occurs while total promoter holding stood at 74.98% as of June 2026.

• AGM approved reclassification of 3 entities from Promoter to Public on September 30, 2026
• Entities reclassified include Mr. N.P.S. Shinh, Mrs. Manita Shinh, and M/s. Continuous Forms (Calcutta) Ltd
• Approval granted under Regulations 30 and 31A of SEBI LODR Regulations with immediate effect
• Promoter holding was recorded at 74.98% as of the June 2026 quarter

Sanathnagar Enterprises Limited has submitted its 79th Annual Report for FY 2025-26 along with the notice for its upcoming Annual General Meeting (AGM) scheduled on September 30, 2026. Key agenda items include the adoption of FY26 financial statements and the appointment of M/s. Walker Chandiok & Co LLP as Statutory Auditors for a 5-year term. The company is also seeking shareholder approval for the re-appointment of two independent directors and reclassification of certain promoter group entities. The company reported zero revenue for FY26 and has a negative net worth of Rs -12 Cr against Rs 14 Cr of debt.

• 79th Annual General Meeting convened for September 30, 2026, via video conferencing
• Proposal to appoint M/s. Walker Chandiok & Co LLP as Statutory Auditors for a 5-year term until the 84th AGM in 2031
• Special resolutions proposed for re-appointment of Independent Directors Ms. Ritika Bhalla and Mr. Jinesh Shah for 5-year terms (July 2027 to July 2032)
• Resolution proposed for reclassification of certain promoter and promoter group members to public category

Sanathnagar Enterprises Limited has released the notice for its 79th Annual General Meeting (AGM) scheduled for September 30, 2026, via Video Conferencing. Key agenda items include the appointment of M/s Walker Chandiok & Co LLP as statutory auditors for a five-year term ending at the 84th AGM in 2031. The company is also seeking shareholder approval to reclassify 72,090 equity shares (2.28% stake) held by three promoter entities/individuals to the public category. The cut-off date for e-voting eligibility is set for September 23, 2026.

• 79th AGM scheduled for September 30, 2026 at 11:30 AM IST via Video Conferencing
• E-voting cut-off date fixed for September 23, 2026; voting window runs September 27 to September 29, 2026
• Proposed appointment of M/s Walker Chandiok & Co LLP as statutory auditors for a 5-year term up to 2031
• Reclassification of 72,090 equity shares (2.28% holding) from promoter to public category

Sanathnagar Enterprises Limited has scheduled its 79th Annual General Meeting (AGM) for Wednesday, September 30, 2026, at 11:30 a.m. IST via Video Conferencing. The cut-off date to determine shareholder voting eligibility is fixed as Wednesday, September 23, 2026. The remote e-voting window will open on September 27, 2026, and conclude on September 29, 2026. The company reported zero revenue and a net profit of ₹0.1 crore for FY26.

• 79th AGM scheduled for September 30, 2026 at 11:30 a.m. IST via VC/OAVM
• Cut-off date for remote e-voting eligibility set for September 23, 2026
• Remote e-voting commences at 9:00 a.m. IST on September 27, 2026
• Remote e-voting concludes at 5:00 p.m. IST on September 29, 2026

Sanathnagar Enterprises has received formal approval from BSE Limited to reclassify three entities from the 'Promoter and Promoter Group' to the 'Public' category. The entities involved are Mr. N.P.S. Shinh, Mrs. Manita Shinh, and M/s. Continuous Forms (Calcutta) Limited. This follows the company's application submitted on July 15, 2026, under Regulation 31A of SEBI LODR. The change is administrative and does not impact the company's operational capacity or financial standing, which currently shows a negative net worth of Rs -12 Cr.

• BSE approval granted via letter dated August 12, 2026
• 3 entities reclassified: Mr. N.P.S. Shinh, Mrs. Manita Shinh, and Continuous Forms (Calcutta) Ltd
• Application for reclassification was originally submitted on July 15, 2026
• Current promoter holding as of June 2026 stands at 74.98%
• Company reported a net profit of Rs 0.21 cr in Mar 2026 despite zero revenue

Sanathnagar Enterprises Limited has formally applied to BSE Limited on July 15, 2026, for the re-classification of certain promoters to the 'Public' category. This application is submitted under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing follows the company's internal processes to adjust its promoter group structure. Specific names of the outgoing promoters and their respective shareholding percentages were not disclosed in this specific intimation.

• Application submitted to BSE Limited on July 15, 2026.
• Re-classification requested under Regulation 31A of SEBI Listing Regulations.
• Move involves transitioning 'certain promoters' from the Promoter group to the Public category.
• Company stock has seen a -33.6% price return over the last 12 months.

The Board of Sanathnagar Enterprises has approved requests from three promoter entities to be reclassified as 'Public' shareholders. These entities, including Mr. N.P.S. Shinh and Ms. Manita Shinh, collectively hold a 2.28% stake in the company. The reclassification is based on the fact that these individuals hold no management control, board seats, or special rights. The process now awaits an ordinary resolution from shareholders and a No Objection Certificate (NOC) from the BSE.

• Aggregate holding of outgoing promoters seeking reclassification is 2.28% of issued capital
• Individual promoter N.P.S. Shinh holds 14,955 equity shares
• Individual promoter Manita Shinh holds 3,150 equity shares
• Board meeting held on July 14, 2026, unanimously approved the reclassification requests
• Company confirms it will remain compliant with Regulation 38 regarding minimum public shareholding

Sanathnagar Enterprises reported zero revenue from operations for the quarter ended June 30, 2026, maintaining its stagnant operational status. The company recorded a net loss of ₹5.97 Lakhs, a slight widening from the ₹4.27 Lakh loss in the same quarter last year. Alongside the results, the board appointed Vikas Jain, a Lodha Group veteran with 19 years of experience, as the new CEO. The company's balance sheet remains stressed with a negative 'Other Equity' of ₹1,551.72 Lakhs as of March 2026.

• Revenue from operations remained at ₹0 for the quarter ended June 30, 2026.
• Net loss for the quarter stood at ₹5.97 Lakhs versus a loss of ₹4.27 Lakhs in Q1 FY26.
• Total expenses rose to ₹5.97 Lakhs, driven by employee benefits and other administrative costs.
• Vikas Jain appointed as CEO effective July 14, 2026, previously Co-Head Debt Finance at Lodha Group.
• Negative Other Equity of ₹1,551.72 Lakhs reported in the latest audited annual figures.

Sanathnagar Enterprises Limited has appointed Mr. Vikas Jain as its Chief Executive Officer, effective July 14, 2026. Mr. Jain is a Chartered Accountant with over 19 years of experience in retail credit, mortgages, and debt finance. He has been a part of the Lodha Group since 2013, previously serving as Co-Head of Debt Finance. This leadership transition occurs as the company's stock has faced a 33.6% decline over the past 12 months.

• Appointment of Mr. Vikas Jain as CEO effective July 14, 2026
• Mr. Jain brings over 19 years of expertise in credit risk and mortgage lending
• He has been associated with the Lodha Group for 13 years (since 2013)
• Previous leadership roles held at Kotak Mahindra Prime Limited and ICICI Bank
• Company stock has seen a 33.6% price decline over the last 12 months

Sanathnagar Enterprises has approved the re-appointment of Ms. Ritika Bhalla and Mr. Jinesh Shah as Independent Directors for a second term. Both directors will serve for 5 consecutive years starting from July 22, 2027, through July 21, 2032. These appointments are subject to shareholder approval. The move ensures continuity in the company's governance, with the directors bringing expertise in corporate law and taxation.

• Re-appointment of 2 Independent Directors for a second 5-year term
• New term for both directors commences on July 22, 2027, and ends July 21, 2032
• Mr. Jinesh Shah brings over 18 years of specialized experience in corporate taxation and statutory audits
• Ms. Ritika Bhalla provides expertise in corporate law compliance and business setup for foreign companies