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Subsidiary / Associate Update
56 articles
Indian companies are strategically expanding their subsidiaries across diverse sectors, reflecting ongoing growth and internationalization efforts. Granules India incorporated a Brazilian subsidiary to bolster its pharmaceutical presence, while Hindustan Aeronautics acquired full control of HATSOFF Helicopter Training, a key training provider. Meanwhile, Atul Auto reinforced its financial subsidiary, KAFL, and Jubilant Ingrevia established a new entity to strengthen its foothold in the electronics and semiconductor ecosystem. These developments, alongside investments by LEAP India and Zota Health, highlight a trend of companies leveraging subsidiaries to pursue targeted growth opportunities and adapt to evolving market dynamics.
Granules India Incorporates Brazilian Pharma Subsidiary Triton
Granules India incorporated a wholly-owned foreign subsidiary named Triton Farmaceutica do Brasil Ltda in Brazil.
The new subsidiary will manufacture, promote, sell, and distribute pharmaceuticals and
HAL Acquires CAE Canada's 50% HATSOFF Stake Nil Consideration
Hindustan Aeronautics Ltd (HAL) signed an agreement to acquire CAE Canada's 50% stake in HATSOFF Helicopter Training Pvt Ltd for nil consideration.
The acquisition will convert HATSOFF from a 50:50 jo
Atul Auto Invests ₹18.34 Crore in Subsidiary KAFL
Atul Auto invested ₹18.34 crore in its wholly-owned NBFC subsidiary Khushbu Auto Finance via a rights issue.
The investment will be used to redeem preference shares held by Atul Auto's promoters in KA
Jubilant Ingrevia Forms WOS for Zettaone Stake Acquisition
Jubilant Ingrevia Board approved incorporation of wholly owned subsidiary Jubilant Advanced Electronics Limited.
The WOS will acquire 40% strategic equity stake in Zettaone Technologies instead of dir
LEAP India Establishes Two Wholly Owned Subsidiaries
LEAP India Limited incorporated Vimprotech Private Limited, a plastics processing subsidiary, with an initial investment of ₹4.03 crore.
The company also established a logistics/supply-chain subsidiar
Emmvee Subsidiary Receives ₹38.4 Crore GST Show Cause Notice
Emmvee's material subsidiary received a GST show cause notice alleging excess input tax credit of ₹20.4 crore for FY 2022-23.
The Karnataka State GST Department demands ₹38.44 crore including interest
BIL Vyapar Appoints RNM & Associates as Statutory Auditor
Shareholders approved appointment of M/S RNM & Associates as statutory auditor at 63rd AGM held on 30th September 2026.
Auditor tenure set for one year from conclusion of 63rd AGM until conclusion of
GPT Infraprojects WOS Wins ₹21.21 Crore Railway Contract
GPT Infraprojects' subsidiary Alcon Builders won a ₹21.21 crore domestic railway signalling contract from Ahmedabad Division.
The contract for Viramgam Upgradation of Indoor Signalling equipment is to
Godawari Power Incorporates Wholly-Owned Energy Subsidiary
Godawari Power and Ispat Limited incorporated a wholly-owned subsidiary, Godawari Energy Solutions Private Limited, for EPC projects.
The subsidiary will focus on Battery Energy Storage Systems, renew
Shree Pushkar Subsidiary Merger Withdrawn by NCLT
NCLT Mumbai Bench dismissed the Scheme of Amalgamation between Madhya Bharat Phosphate and Kisan Phosphates, both Shree Pushkar subsidiaries, allowing its withdrawal.
The withdrawal was requested by t
Adani Enterprises Clarifies Subsidiary's $120M Bond Issue
Adani Enterprises responds to NSE/BSE query regarding subsidiary Adani Airport Holdings' $120 million local bond issuance news.
Clarifies that the bond issuance was by its wholly-owned subsidiary, whi
India Power CIRP Subsidiary Directors Vacate Office
India Power Corporation Limited discloses vacation of office by two directors in material subsidiary IPCL Power Limited due to non-conduct of AGM.
Company is undergoing Corporate Insolvency Resolution
Zota Health Acquires ₹19.9 Cr Subsidiary Stake
Zota Health Care invested ₹19.91 crore in its WOS Davaindia Health Mart via a rights issue subscription.
The investment aims to support the subsidiary's working capital needs and is part of a strategi
Zota Health Acquires KMHP Ventures via ₹2.1 Cr Rights Issue
Zota Health Care Ltd invested ₹2.10 crore in its WOS KMHP Ventures via a rights issue to acquire 21 lakh shares at ₹10 each.
The investment funds KMHP's PAN India rollout of 'Ugo Generic' retail store
HEC Infra Projects Subsidiary Commencement of Business
HEC Infra Projects obtained commencement of business for its 51% subsidiary Shivam Grid Solutions on September 30, 2026.
The investment was made through initial subscription to the subsidiary's Memora
Carborundum Universal Infuses $3M in Cyprus Subsidiary
Carborundum Universal invested USD 3 million (₹28.78 crore) in its wholly owned Cyprus subsidiary CUMI International Limited.
The capital infusion supports funding requirements for the closure of the
OnEMI Subsidiary Receives ₹44.05 Cr GST Show Cause Notice
OnEMI's subsidiary Si Creva Capital Services received a GST show cause notice for FY 2022-23 demanding ₹44.05 crore.
The notice alleges five GST contraventions including ITC reversal discrepancies and
Welspun Corp Subsidiary Incorporates Welspun Special Coating
Welspun Corp announces incorporation of Welspun Special Coating Private Limited, a new step-down wholly owned subsidiary.
The subsidiary was incorporated on September 17, 2026 with an initial paid-up
Sadbhav Infrastructure 20th AGM Resolutions Voting Report
Sadbhav Infrastructure held its 20th AGM on 30th September 2026 via video conference to consider nine resolutions including financial statements adoption and director appointments.
Key resolutions inc
Symbiotec Subsidiary Knovea Signs US DCV Agreement
Symbiotec's subsidiary Knovea Pharmaceutical enters exclusive US commercialization agreement for Dual Chamber Vial products with global pharma company.
Agreement covers two DCV-based injectable produc
PB Fintech Invests ₹1 Crore in Wholly-Owned Subsidiary
PB Fintech Limited invested ₹1 crore in equity shares of its wholly-owned subsidiary PB Financial Account Aggregators Private Limited.
The investment aims to meet the subsidiary's operating expenses a
Waaree Subsidiary Commences 1.10 GW Solar Inverter Production
Waaree Power Private Limited commenced commercial production of a new 1.10 GW solar inverter manufacturing line in Valsad, Gujarat.
The subsidiary's total annual installed capacity for solar inverters
Orient Green Power Subsidiary Revises Repowering Timeline
Orient Green Power's subsidiary Clarion Wind Farm revises its 7.8 MW wind repowering completion deadline to November 30, 2026.
The timeline revision was approved by Clarion's Investment Borrowing and
Jayant Agro Subsidiary Ihsedu Wins Castorseed Processor Award
Jayant Agro-Organics subsidiary Ihsedu Agrochem wins second highest castorseed oilcake processor award for 2025-2026.
The award was presented by The Solvent Extractors' Association of India recognizin
Dev Information Technology 29th AGM All Resolutions Passed
Dev Information Technology held its 29th AGM on September 30, 2026, via video conference to approve 12 resolutions.
Shareholders approved a 5% dividend of ₹0.10 per share and re-appointed Mr. Prerak P
Marathon Nextgen Realty Subsidiary Renamed Marathon Habitat
Marathon Nextgen Realty intimates BSE/NSE of subsidiary name change approval.
Wholly owned subsidiary Kanchi Rehab renamed to Marathon Habitat Private Limited.
Name change effective September 30, 2026
Nuvoco Subsidiary NU Vista Receives Bihar Tax Notice
Nuvoco Vistas discloses receipt of a show cause notice from Bihar State Tax authorities to its wholly-owned subsidiary NU Vista Limited.
The notice was received on September 28, 2026, with all other d
SJS Enterprises Invests ₹5 Crore in Subsidiary
SJS Enterprises invested ₹5 crore in its wholly-owned subsidiary SDEPL via a rights issue, bringing total investment to ₹5.05 crore.
The investment supports SDEPL's development, growth, and working ca
BF Utilities Fined ₹436,600 for SEBI Non-Compliance
BF Utilities Board addresses NSE/BSE fines totaling ₹436,600 for Q1 FY2027 regulatory non-compliances.
Fined ₹253,700 for delayed consolidated results as subsidiaries NICE/NECE failed to submit unaudi
S.P. Apparels FY26 Revenue Grows 13% to ₹15.8B
S.P. Apparels reported consolidated revenue of ₹15.8B with PAT of ₹1.0B for FY26, achieving 13% growth year-over-year.
The company recommended a ₹3 per share dividend and approved a 5:1 stock split su
Puravankara Reports FY26 ₹70.35 Crore Profit Turnaround
Puravankara Limited reported a standalone net profit of ₹70.35 crore for FY26, a significant improvement from a ₹198.75 crore loss in FY25, driven by 151% revenue growth to ₹2,302.61 crore.
The compan
KD Green Industries FY26 Report: Expansion and Audit Results
KD Green Industries published its FY25-26 annual report highlighting strategic diversification into sustainable manufacturing with ₹325 crore expansion to double steel capacity and add 25 MW solar pow
Maithan Alloys Acquires 0.65% Stake in ESDS
Maithan Alloys disclosed an acquisition of 760,548 shares (0.65%) in ESDS Software Solution for ₹113.37 crore via stock exchange.
The investment is for long/short-term benefits and is not a related pa
Bharat Mohta Acquires 14.32% Indian Wood Products Shares
Bharat Mohta acquired 9,160,200 shares (14.32%) of The Indian Wood Products Co Ltd from his mother Savita Mohta via a gift deed executed on 24 August 2026.
The inter-se transfer among immediate relati
CSB Bank RBI Approves ICICI Prudential 9.95% Stake
RBI grants ICICI Prudential AMC approval to acquire up to 9.95% stake in CSB Bank.
Approval is subject to compliance with Banking Regulation Act and SEBI regulations.
Disclosure made pursuant to SEBI
Alpa Laboratories FY26 Results Decline, AGM Scheduled
Alpa Laboratories reported FY26 revenue decline to ₹12,153 lakhs with net profit falling 29% to ₹1,407 lakhs, reflecting challenging market conditions.
The company convened its 38th AGM on September 3
Xelpmoc Design FY26 Net Loss Narrows to ₹74.2M
Xelpmoc Design reported a reduced net loss of ₹74.2 million for FY26, down from ₹86.2 million in FY25, with revenue declining to ₹37.4 million entirely from corporate clients.
The company recognized s
Kothari Products FY26 Net Profit Falls 35% Amid Diversification
Kothari Products reported 34.59% decline in standalone net profit to ₹34.87 Cr despite 8.16% revenue growth to ₹328.47 Cr in FY26.
The company strategically diversified into domestic trade and real es
Stanley Lifestyles FY26 Revenue Dips 1.6%, Profit Falls 59%
Stanley Lifestyles reported consolidated revenue decline of 1.6% to ₹4,193 million while net profit plummeted 59% to ₹120 million due to expansion costs and Labour Code impacts.
The company expanded t
MTAR Technologies Reports 30% FY26 Revenue Growth to ₹8.76B
MTAR Technologies reported FY26 revenue of ₹8,761.08 million, up 29.61% YoY, with PAT of ₹953.24 million and EBITDA margin of 19.52%.
The company achieved record order inflows of ₹24,533 million, clos
Colab Platforms FY26 Revenue Jumps 129% to ₹158 Crore
Colab Platforms submitted its Annual Report for FY 2025-26 to BSE, comprising audited standalone and consolidated financial statements, board reports, and governance disclosures.
Standalone revenue su
Lahoti Overseas FY26 Net Profit Rises 16.5% to ₹1498 Lakh
Lahoti Overseas reported FY26 net profit increase of 16.5% to ₹1,498 lakh despite 24.9% revenue decline to ₹37,949 lakh, with export revenue at ₹33,932 lakh.
Board recommended final dividend of 10% (₹
Picturehouse Media FY26 Results Show Negative Net Worth
Picturehouse Media reported FY26 standalone net profit of ₹46.46 lakhs but faces material uncertainty over going concern due to negative net worth of ₹4,024.77 lakhs and auditor qualifications.
Audito
Integrated Capital Services 33rd Annual Report 2025-26
Integrated Capital Services published its 33rd Annual Report for FY 2025-26, reporting a standalone net loss of ₹81.26 lakhs despite positive other comprehensive income.
The company will hold its AGM
Kesar India Promoter Group Receives 100 Shares via Gift
Kesar India Limited discloses a 100-share gift transfer to promoter group entity Gopal Chand Gupta HUF under SEBI Takeover Regulations.
The off-market transaction occurred on September 3, 2026, as an
Avalon Technologies FY26 Revenue Up 46% to ₹1,603 Cr
Avalon Technologies reported strong FY26 performance with 46% revenue growth to ₹1,603 Cr and 78% PAT surge to ₹113 Cr, driven by box-build revenue reaching 54%.
The company announced its 27th AGM for
Sprayking FY26 Profit Drops 82.9% Amid Production Disruptions
Sprayking Limited reported an 82.9% decline in standalone net profit to ₹37.69 lakhs for FY26, with total income falling to ₹5,397.76 lakhs due to production disruptions and weaker demand.
The company
Surana Solar FY26 Profit Rises to ₹1.24 Crore
Surana Solar reported FY26 net profit of ₹1.24 crore, significantly higher than ₹5.85 lakhs in FY25, despite revenue declining to ₹27.76 crore from ₹39.98 crore.
The company commenced production at it
Ironwood Education AGM Approves ₹55 Crore RPTs
Ironwood Education Limited convenes its 43rd AGM on September 28, 2026, to seek shareholder approval for material related party transactions aggregating ₹55 crore with promoter entities and subsidiari
Laxmi Cotspin FY26 Net Loss ₹120L, AGM Sept 28
Laxmi Cotspin reported a consolidated net loss of ₹120.06 lakh for FY 2025-26, a significant decline from a profit of ₹46.24 lakh in the previous year.
The company will hold its 21st AGM on September
Aster DM Moopen Family Acquires 0.57% Stake for ₹350 Crore
Dr. Moopen's family entity acquired 46.09 lakh Aster DM shares from TPG's Centella for ₹760 per share.
The ₹350.34 crore transaction increases the promoter family's total stake in the company to 24.58
Waaree Energies Promoter Trust Acquires 18.34% via Gift
C.T. Doshi Family Trust acquired 18.34% indirect stake in Waaree Energies via WSFPL share gift transfer on August 06, 2026 for succession planning.
SEBI granted exemption from open offer obligations v
Thirumalai Chemicals to Sell 5% Ultramarine Stake
Thirumalai Chemicals' Fund Raising Committee approved sale of up to 14.6 lakh shares in Ultramarine & Pigments.
The shares represent a 5% stake in Ultramarine, to be sold via SEBI-permitted modes with
Capillary Promoter CTIPL Sells 4% Stake
Capillary Technologies clarifies its Singapore promoter CTIPL sold 4% equity via secondary market transaction on August 10, 2026.
The sale facilitated exit of early-stage investor Peak XV Partners fro
Tube Investments Acquires 2.69% Additional Shanthi Gears Stake
Tube Investments of India acquired 20.64 lakh shares (2.69%) of subsidiary Shanthi Gears via block deal for ₹77.49 crore.
The acquisition increases Tube Investments' stake in Shanthi Gears from 70.46%
Polyplex Thailand Tender Offer Acquires 18.09% Stake
Polyplex Corp discloses closure of tender offer by AGPH Thailand for its 51% subsidiary Polyplex Thailand.
AGPH Thailand acquired 162.81 million shares representing 18.09% of Polyplex Thailand's paid-