Salasar Techno Engineering Ltd

Financial results approved

• Board approved unaudited standalone and consolidated results for quarter ended 30 June 2026.
• Segmentwise report and Limited Review Reports from statutory auditors were included.

Merger with EMC Limited

• NCLT sanctioned the amalgamation of EMC Limited with Salasar Techno Engineering; merger effective in June 2026 quarter.
• Appointed date for merger: 23 Oct 2024.

Auditors' review

• Independent Auditor's Review found no material misstatement in standalone and consolidated results.
• Consolidated results include five entities not reviewed by their auditors.

Business segments

• Company operates two segments: Steel Structures and EPC.

Purpose of Meeting

• De novo meeting to approve Scheme of Amalgamation between Hill View Infrabuild Limited and Salasar Techno Engineering Limited.

Key Resolutions/Business

• Approve Scheme of Amalgamation between Hill View Infrabuild Limited and Salasar Techno Engineering Limited.
• Acceptance of valuation report and fairness opinion on the share exchange ratio.
• Share exchange ratio and related terms approved.
• Subject to NCLT sanction and other approvals.
• Equity consideration: 2,87,430 new Salasar shares per 100 Hill View shares.
• Fractions held by a trust; surplus to be sold in 90 days.
• CRPS not listed; redemption at par within 20 years.
• Appointed date for scheme: 1 April 2025; BSE designated stock exchange.

Voting Outcome

• Scheme approved by equity shareholders with requisite majority.
• Promoter group voted in favour; no opposition recorded.
• Public category approved; overall in-favour about 99.75% of votes polled.
• Total votes polled approximately 873 million; against about 2.19 million.

Shareholder/Creditor Impact

• Equity consideration: 2,87,430 new Salasar shares per 100 Hill View shares.
• CRPS: 8,358 per 100 Hill View shares, 5% coupon, redemption at par within 20 years.
• Fractions to be sold by a trust; CRPS not listed.
• Appointed date: 1 April 2025; BSE designated stock exchange.
• Scheme to be implemented post NCLT sanction.

Next Steps

• Await NCLT sanction and other approvals for implementation.
• Board authorized to take necessary steps and may accept conditions.
• Implementation timeline subject to court orders.

Dematerialisation/rematerialisation status

• Certificate under Regulation 74(5) received from Registrar and Share Transfer Agent.

Purpose of Meeting

• Fresh (de novo) equity shareholder meeting to approve Hill View Infrabuild Limited amalgamation with Salasar Techno Engineering Limited.

Key Resolutions/Business

• Approval of the Scheme under Sections 230-232 of the Companies Act 2013.

Voting Outcome

• Outcome pending; meeting scheduled for Aug 8, 2026.
• Remote e-voting Aug 4–7, 2026; cut-off date Aug 1, 2026.

Shareholder/Creditor Impact

• Scheme involves amalgamation; no exchange ratio or listing impact disclosed.

Next Steps

• NCLT-directed fresh meeting; regulatory approvals pending.
• No timeline for scheme effectiveness disclosed.

Salasar Techno Engineering Ltd: Trading window closed from July 01, 2026 until 48 hours after the declaration of financial results for the quarter ended June 30, 2026

Financial results

• Board approved standalone and consolidated audited results for quarter and year ended 31 March 2026.
• Standalone revenue was ₹43,791.92 lakh; net profit was ₹1,361.86 lakh for the quarter.
• Standalone annual revenue was ₹1,45,916.59 lakh; net profit was ₹4,457.84 lakh.
• Consolidated revenue was ₹44,465.25 lakh; quarterly net loss was ₹1,366.84 lakh.
• Consolidated annual revenue was ₹1,50,276.89 lakh; net profit was ₹1,762.58 lakh.

Statements approved

• Board approved segment-wise results, balance sheet, and cash flow statements for standalone and consolidated accounts.

Audit opinion

• Statutory auditor VAPS & Co. issued unmodified opinions on standalone and consolidated results.

Regulatory and corporate actions

• Trading window will open on 31 May 2026.
• NCLT Kolkata sanctioned the EMC Limited amalgamation scheme on 22 May 2026.
• Appointed date for the amalgamation is 23 October 2024; merger formalities are still pending.
• Non-promoter warrant holders forfeited 25% of issue price, aggregating ₹1,170 lakh, after expiry.
• Labour Code changes were assessed; incremental impact disclosed as gratuity ₹2.64 lakh and compensated absences ₹0.25 lakh.