Disclosure Context

Glen Industries Limited (Scrip Code: GLEN, ISIN: INE0UMC01019) submitted a regulatory filing under SEBI Listing Regulations (Regulation 30 read with Schedule III, Part A and Para B) on June 30, 2026, signed by Ms. Shikha Sureka, Company Secretary & Compliance Officer. The disclosure concerns a postponement in the commencement of commercial production for the company's project.

Project Update Status

Land Conversion: Conversion of land use from agricultural to industrial has been successfully completed.

Site Preparation: Land filling work has been completed.

Regulatory Approvements Obtained

  • Pollution Control: No Objection Certificate / Consent to Establish (CTE) obtained from the West Bengal Pollution Control Board.
  • Fire Safety: Fire NOC / Fire Safety Report (FSR) received from the West Bengal Fire & Emergency Services.
  • Power Supply: Inspection done by WBSEDCL in connection with bulk power supply. A sanction letter for power has been received. The company has asked for certain amendments to the scope of work from WBSEDCL, and a revised sanction letter is expected soon.

Construction & Design Progress

  • The contract for the Pre-Engineered Building (PEB) structure has been awarded.
  • Structural designing has been completed.
  • Building drawing approval has been received by P&RD. The company is awaiting a demand note from Zila Parishad for the sanction of Building Plan Approval.
  • Piling work has been completed. Foundation work is expected to be completed by the end of July 2026. Structural work at the site will commence soon after building plan approval is received.

Procurement Status

  • Orders for all plant and machinery have been placed, except for short delivery items for paper cups, which will be completed in August 2026.
  • Orders for some utility equipment have been placed, with the balance to be completed in July 2026.

Revised Timeline and Reasons for Delay

Original Timeline: Commercial production was originally expected to commence by Q4 of FY 2025–26, as per the company's Red Herring Prospectus. This was later extended to Q2 of FY 2026-27.

New Timeline: Commencement of commercial production has been further extended and is now expected by Q3 of FY 2026–27. This revision was noted by the Management Committee of the company.

Reasons for Delay:

1. The SIR (State Industrial Review) and elections in West Bengal caused a huge delay in the building plan approval process. Even post-elections, the sanctioning is delayed due to the non-functioning of Zila Parishad.

2. The on-setting of the monsoon season will hinder site work for building construction.

3. There has been a delay in the sanctioning of power to the project due to the SIR and election process.