Glittek Granites Ltd

Dematerialisation status

• Dematerialisation processing completed for the period 01/07/2026 to 30/09/2026.
• Securities received were destroyed/mutilated/cancelled after dematerialisation within the prescribed time.
• Depository name substituted as registered owner in company records within prescribed timelines.

Glittek Granites Limited - Trading Window closed from 01 October 2026 until 48 hours after the declaration of Unaudited Financial Results for the quarter and half year ended 30 September 2026

Maheshkumar Jatashankar Thanki

• Regularisation of appointment as Director approved; effective 25 June 2026 for five years until 24 June 2031.
• Appointed as Chairperson and Whole-Time Director; five-year term from 25 June 2026 with remuneration terms.
• Profile: MD of Rawmin Mining; 75+ years in mining; international trade and governance experience.
• Relationship: Cousin of Bhargav and Bhavin Thanki.
• Not debarred from SEBI or other authorities; eligible to act as Director.

Bhargav Girjashankar Thanki

• Regularisation of appointment as Director approved; effective 25 June 2026 for five years until 24 June 2031.
• Appointed as Managing Director; five-year term from 25 June 2026 with remuneration terms.
• Profile: 35+ years in mining; Wholetime Director; expertise in International Trade and Mining.
• Relationship: Cousin of Maheshkumar Jatashankar Thanki and Bhavin Thanki.
• Not debarred from SEBI or other authorities; eligible to act as Director.

Bhavin Harihar Thanki

• Regularisation of appointment as Director approved; effective 25 June 2026 for five years until 24 June 2031.
• Appointed as Whole-Time Director; five-year term from 25 June 2026 with remuneration terms.
• Profile: 75+ years mining legacy; Whole-time Director; Mineral processing, logistics, international trade.
• Relationship: Cousin of Maheshkumar Jatashankar Thanki and Bhargav Thanki.
• Not debarred from SEBI or other authorities; eligible to act as Director.

Dr. Deependra Singh

• Appointment as Independent Director (Additional); effective 25 June 2026 for five years to 24 June 2031.
• Regularisation of appointment as Independent Director; five-year term from 25 June 2026 to 24 June 2031.
• Profile: Former Chair/MD of IREL; 35+ years in rare earths and minerals.
• Not related to other Directors.
• Not debarred from SEBI or other authorities.

Sunil Kumar Bansal

• Appointment as Independent Director; Regularisation for five-year term through 24 June 2031.
• Profile: Chartered Accountant; CAIIB; insolvency professional; extensive finance experience.
• Not related to other Directors.
• Not debarred from SEBI or other authorities.

Kavita Rakesh Shah

• Appointment as Independent Director; Regularisation for five-year term through 24 June 2031.
• Profile: ICAI member; merchant banking; 30+ years in finance and capital markets.
• Not related to other Directors.
• Not debarred from SEBI or other authorities.

AGM details

• Date: September 22, 2026; time 11:30 IST; mode: VC/OAVM.
• Meeting concluded at 12:01 IST.
• Remote e-voting Sep 19–21; voting ongoing during AGM until 15 minutes after.
• Quorum: 52 shareholders via VC/OAVM.

Key resolutions

• Item 1 (Ordinary): Adoption of audited financials and reports for year ended Mar 31, 2026.
• Item 2 (Ordinary): Appointment of R. R. Tibrewala & Co. as Statutory Auditor for five years.
• Item 3 (Ordinary): Appointment of KJB & CO. LLP as Secretarial Auditor for five years.
• Item 4 (Ordinary): Regularization of Maheshkumar Jatashankar Thanki as Director from Jun 25, 2026.
• Item 5 (Special): Appointment of Maheshkumar Jatashankar Thanki as Chairperson and WTD for five years, with remuneration.
• Item 6 (Ordinary): Regularization of Bhargav Girjashankar Thanki as Director from Jun 25, 2026.
• Item 7 (Special): Appointment of Bhargav Girjashankar Thanki as Managing Director for five years, with remuneration.
• Item 8 (Ordinary): Regularization of Bhavin Harihar Thanki as Director from Jun 25, 2026.
• Item 9 (Special): Appointment of Bhavin Harihar Thanki as Whole-Time Director for five years, with remuneration.
• Item 10 (Special): Appointment of Dr. Deependra Singh as Independent Director for five years from Jun 25, 2026.
• Item 11 (Special): Appointment of Sunil Kumar Bansal as Independent Director for five years from Jun 25, 2026.
• Item 12 (Special): Appointment of Kavita Rakesh Shah as Independent Director for five years from Jun 25, 2026.
• Item 13 (Special): Alteration of the Main Object Clause of the MOA.
• Item 14 (Special): Change of name to Rawmin Neo Elements Limited.
• Item 15 (Special): Shifting of registered office to Maharashtra.
• Item 16 (Special): Enhancement of borrowing limits under Section 180(1)(c).
• Item 17 (Special): Creation of charge over the undertaking under Section 180(1)(a).
• Item 18 (Special): Enhancement of limits for loans/investments/guarantees/securities under Section 186.
• Item 19 (Ordinary): Material Related Party Transaction with Promoters and promoter group.

Voting results

• Detailed voting results will be disclosed separately.
• Item 19: Related parties not entitled to vote.

Director changes

• Regularization of Maheshkumar Jatashankar Thanki as Director from Jun 25, 2026.
• Regularization of Bhargav Girjashankar Thanki as Director from Jun 25, 2026.
• Regularization of Bhavin Harihar Thanki as Director from Jun 25, 2026.
• Appointment of Maheshkumar Jatashankar Thanki as Chairperson and WTD for five years from Jun 25, 2026, with remuneration.
• Appointment of Bhargav Girjashankar Thanki as Managing Director for five years from Jun 25, 2026, with remuneration.
• Appointment of Bhavin Harihar Thanki as Whole-Time Director for five years from Jun 25, 2026, with remuneration.
• Appointment of Dr. Deependra Singh as Independent Director for five years from Jun 25, 2026.
• Appointment of Sunil Kumar Bansal as Independent Director for five years from Jun 25, 2026.
• Appointment of Kavita Rakesh Shah as Independent Director for five years from Jun 25, 2026.

Auditor appointments

• Statutory Auditor: M/s. R. R. Tibrewala & Co. appointed for five years.
• Secretarial Auditor: KJB & CO. LLP appointed for five years.

Material related party transactions

• RPT between the company and promoters/promoter group; value not disclosed.

Other material approvals

• Alteration of Main Object Clause (special).
• Change of name to Rawmin Neo Elements Limited (special).
• Shift of registered office to Maharashtra (special).
• Borrowing limits enhanced (special).
• Creation of charge over undertaking (special).
• Enhancement of limits for loans/investments/guarantees/securities (special).

AGM notice and e-voting details

• 36th AGM scheduled for Sept 22, 2026 at 11:30 AM IST via VC/OAVM.
• EVSN 260825019; voting entitlement cut-off Sept 15, 2026.
• Remote e-voting from Sept 19, 2026 09:00 to Sept 21, 2026 17:00 IST.
• Annual Report FY2025-26 and AGM Notice accessible on company, BSE, and CDSL websites.
• Shareholders without registered email will receive Notice and AR via link; update email/KYC to access.
• Registrar contact provided for updating email address, PAN, bank details, nominations, and other KYC.

Financial snapshot

• Revenue from operations: ₹4.68 lakh in FY2025-26, down from ₹203.63 lakh (FY2024-25).
• Total income: ₹140.59 lakh in FY2025-26.
• Profit before tax: ₹-39.45 lakh in FY2025-26.
• Profit after tax: ₹-39.45 lakh in FY2025-26.
• Earnings per share: ₹-0.15 (basic and diluted) for FY2025-26.
• Net worth: ₹1,094.38 lakh as of 31 March 2026.
• Total assets: ₹1,099.14 lakh as of 31 March 2026.
• Borrowings: Nil as of 31 March 2026.
• Current ratio: 197.81 in FY2025-26.
• Debt equity ratio: 0.00 in FY2025-26.
• Net profit margin: -28.06% in FY2025-26.
• Dividend: No dividend declared for FY2025-26.

Liquidity & assets

• Current liabilities: ₹4.76 lakh; current ratio 197.81.
• Cash and cash equivalents: ₹658.73 lakh; total assets ₹1,099.14 lakh.
• Net worth stands at ₹1,094.38 lakh; no borrowings at year-end.
• Operating cash flow: negative ₹218.63 lakh for FY2025-26.

Operations & segments

• Single reportable segment: granite dealing; no other segments.
• Monetised old inventory; inventory reduced to nil by 31 March 2026.
• Factory sold in FY2024-25; manufacturing activity largely ceased in FY2025-26.
• Diversification into BESS and renewables; estimated project cost ~₹150 crore.
• Diversification to be phased; approvals required; preparatory stage only.

Strategic actions & governance

• Control transferred on 25 June 2026; acquirers hold 70.59% equity.
• Board reconstituted; new MD/Chair and independent directors appointed.
• Alteration of main object clause; name change to Rawmin Neo Elements Limited.
• Registered office shifted to Mumbai; HQ consolidates management.
• Central Registration Centre approved name; alternate names possible if not approved.

Auditors & governance

• Statutory auditor: R. R. Tibrewala & Co.; FY26-27 fee ₹4,00,000.
• Secretarial auditor: KJB & CO. LLP; fee ₹1,00,000.
• Emphasis of matter: MSME interest not provided; vendors accepted delayed payments.
• Board met 9 times in FY2025-26; Audit Committee met 4 times.

Outlook & risks

• Outlook: diversify into BESS and renewables; phased implementation.
• Key risks: project execution, funding, regulatory approvals, and competition.
• RPTs: promoter group borrowings up to ₹100 crore during AGM year.
• CSR not applicable; no CSR Committee required for the year.

Financial performance

• Revenue from operations: ₹4.68 lakh in FY2025-26, down from ₹203.63 lakh in FY2024-25.
• Total income: ₹140.59 lakh in FY2025-26, vs ₹3,329.91 lakh in FY2024-25.
• Profit before tax: ₹(39.45) lakh in FY2025-26; ₹746.86 lakh prior year.
• Profit after tax: ₹(39.45) lakh in FY2025-26; ₹685.86 lakh prior year.
• EPS: (₹0.15) for FY2025-26; ₹2.64 prior year.
• Dividend not recommended for FY2025-26.
• Total assets ₹1,099.14 lakh; net worth ₹1,094.38 lakh; cash ₹658.73 lakh.

Operational highlights

• Monetisation of old inventory completed; inventory reduced to nil by 31 Mar 2026.
• Granite remains the sole operating segment; activity limited in FY25-26.
• No borrowings at year-end; balance sheet cleaner.
• Post-year-end diversification plan into BESS and renewables under consideration.

Capital structure & liquidity

• Debt-free year-end; no bank borrowings.
• Cash and cash equivalents ₹658.73 lakh; liquidity cushion.
• Current liabilities reduced to ₹4.76 lakh; strong liquidity.

Dividend & corporate actions

• Dividend not declared for FY2025-26.
• Proposed change of name to Rawmin Neo Elements Limited; MOA alterations.
• Registered office shifted to Maharashtra; approvals pending.

Strategic developments & diversification

• Change in control via SPA (6 Jan 2026); acquirers hold 70.59% post-open offer.
• Diversification into BESS, solar, and advanced minerals; project cost ~₹150 crore.
• Name change to Rawmin Neo Elements Limited; alternative names if required.

Governance & board changes

• Board met 9 times in FY2025-26; full attendance.
• Independent directors appointed: Dr. Deependra Singh, Sunil K. Bansal, Kavita R. Shah.
• Auditors: Statutory RR Tibrewala & Co; Secretarial KJB & Co LLP.

• Smriti Roy, Folio 0019909, old cert 00029030, nos 0007248501-0007248600, 100 shares, new cert 00035331, loss on 11.08.2026.

Issuer update status

• No issuer-specific material updates identified; chunk contains notices for unrelated entities.