Maruti Securities Ltd

RTA dematerialisation compliance

• RTA confirmed dematerialisation actions within 15 days of certificate receipt from the depository participant.
• Dematerialized securities are listed on the stock exchange(s) where the earlier issued securities are listed.
• Physical certificates were mutilated and cancelled; depository name substituted as registered owner in records.

Order details

• Awarding entity: MSN Life Sciences Private Limited.
• Scope: Sub-contract for structural works, retaining walls, fabrication, etc.
• Contract value: Approximately Rs. 5.9 crores.
• Domestic entity; execution as per Work Order terms.
• Timeframe: As per terms of the Work Order.
• Promoter/group interest: None; not a related-party transaction.
• Expected impact: Positive contribution to operational performance.

Order details

• Awarding entity: MSN Laboratories Private Limited.
• Domestic sub-contract from MSN Laboratories Private Limited for construction of structural works, retaining walls, fabrication and related works.
• Contract value: Approximately Rs. 5.9 Crores.
• Timeframe: As per terms of the Work Order.
• No promoter group interest; order not a related party transaction.
• Expected to contribute positively to operational performance.

Financial Performance 📊

• Maruti Global Industries reported standalone Q3 and 9M FY26 revenue of Rs 1,430 lakhs, flat YoY.
• Total expenses for 9M FY26 were Rs 1,590 lakhs, including Rs 159 lakhs employee benefits and Rs 375 lakhs administrative expenses.
• Profit before tax and net profit for 9M FY26 were Rs 1.90 lakhs.
• Basic and diluted EPS for 9M FY26 stood at Rs 0.01 per share (face value Rs 10).

Key Risks & Headwinds ⚠️

• Company has accumulated losses of Rs 2,644.38 lakhs eroding net worth as of Dec 31, 2025.
• Auditor issued a qualified review report citing accumulated losses but no material misstatement.

Corporate Actions & Governance 🗓️

• Board approved and recorded Q3 and 9M FY26 results on Feb 11, 2026.
• Management asserts going concern status due to new promoters with infrastructure expertise and resumed operations.

Business Model & Segments

• Company operates in a single business segment; segment reporting not applicable.

Financial Performance

• Board approved unaudited standalone financial results for quarter and nine months ended December 31, 2025.
• Net profit reported at Rs. 1.90 Lakhs for the quarter ended December 31, 2025.
• Accumulated losses stood at Rs. 2,644.38 Lakhs, eroding the company’s net worth.

Auditor Remarks ️

• Statutory auditors issued a limited review report on the unaudited financial results.
• Auditor issued a qualified conclusion due to net worth erosion but found no material misstatement.

Governance & Business Status

• Management affirmed going concern status based on new promoters and resumed core business operations.

Order Award

• Work order awarded by KMC Constructions Limited for formation of track works.
• Order is part of South Central Railways' EPC contract for doubling track between Akanapet and Medchal Stations.
• Total order value is approximately Rs. 9.54 Crores.
• KMC Constructions Limited is a domestic customer.
• No promoter or promoter group interest; not a related party transaction.
• No specific execution time period disclosed.