STEL Holdings Ltd

Financial results and approvals

• Board approved unaudited standalone and consolidated results for quarter ended June 30, 2026 (FY 2026-27).
• Audit Committee reviewed; independent auditors conducted limited review; no audit opinion issued.
• Consolidated results include Doon Doars Plantations Ltd; its unaudited interim results not reviewed and not material.
• Wholly owned subsidiary: Doon Doars Plantations Ltd.
• Independent auditor's review under SEBI LODR found no material misstatement.
• Company is a core investment company; no reportable segments.

Dematerialisation status

• Dematerialisation requests processed; certificates mutilated and cancelled after verification.
• Register of Members updated to reflect the depository as registered owner within timelines.
• Securities dematerialised listed on the relevant stock exchanges.
• Dematerialisation certificates confirmed/rejected to the depositories.

Target Entity and Description

• Zensar Technologies Limited is a technology consulting and services company headquartered in Pune, India.
• Operates in 30+ global locations with over 10,000 professionals.
• Offers services in Cloud Infrastructure, Security, Data Engineering, AI solutions, Enterprise Applications, and IT managed services.

Size/Scale

• Consolidated turnover: Rs. 4,848.20 crores (FY 2022-23), Rs. 4,901.90 crores (FY 2023-24), Rs. 5,280.60 crores (FY 2024-25).

Acquisition Details

• Acquired 35,970 fully paid equity shares, representing 0.016% ownership.
• Total acquisition cost approximately Rs. 2 crores; price per share approx. Rs. 554.11 (excluding brokerage and taxes).
• Shares purchased on March 5, 2026; contract note received March 6, 2026.
• Acquisition was a market purchase, not a related party transaction; STEL Holdings (0.05% shareholder) is part of promoter group.
• No governmental or regulatory approvals required.

Background of Target

• Incorporated on March 29, 1963.
• Serves 145+ leading enterprises globally.
• Focuses on client-centric digital experience solutions and sustainability.

Target Entity & Background

• CEAT Limited, Indian tyre manufacturer with global presence in 110+ countries.
• Incorporated March 10, 1958; flagship of RPG Group, headquartered in Mumbai.
• Products include tyres for passenger vehicles, two/three-wheelers, commercial, off-highway vehicles.

Financial Scale

• Consolidated turnover: Rs. 11,314.88 crores (FY 2022-23), Rs. 11,943.48 crores (FY 2023-24), Rs. 13,217.87 crores (FY 2024-25).

Acquisition Details 📍

• STEL Holdings acquired 14,880 equity shares (0.037% stake) in CEAT Limited.
• Acquisition cost approx. Rs. 5 crores; price per share approx. Rs. 3,351.05 (excl. brokerage/taxes).
• Acquisition executed March 5, 2026; contract note received March 6, 2026.
• Consideration paid in cash via stock exchange trades; not a related party transaction.
• STEL Holdings is a promoter group company holding 3.71% in CEAT Limited.

Industry/Sector

• Automotive tyres, tracks, tubes, and flaps manufacturing.

Regulatory Approvals

• No governmental or regulatory approvals required for the acquisition.

Financial Performance 📊

• Standalone Q3 revenue from operations rose to Rs 1,693.78 lakhs vs Rs 30.43 lakhs YoY; 9M revenue Rs 2,647.46 lakhs vs Rs 846.85 lakhs YoY.
• Standalone Q3 profit before tax Rs 1,705.16 lakhs vs Rs 13.28 lakhs YoY; 9M PBT Rs 2,660.23 lakhs vs Rs 789.70 lakhs YoY.
• Standalone Q3 net profit Rs 1,257.75 lakhs vs Rs 9.32 lakhs YoY; 9M net profit Rs 2,536.01 lakhs vs Rs 589.97 lakhs YoY.
• Standalone Q3 total expenditure Rs 15.02 lakhs vs Rs 17.15 lakhs YoY; 9M expenditure Rs 57.24 lakhs vs Rs 57.15 lakhs YoY.
• Standalone basic and diluted EPS for Q3 at Rs 6.82 vs Rs 0.05 YoY; 9M EPS Rs 13.74 vs Rs 3.20 YoY.
• Consolidated Q3 revenue from operations Rs 1,693.77 lakhs vs Rs 30.40 lakhs YoY; 9M revenue Rs 2,647.46 lakhs vs Rs 110.68 lakhs YoY.

Consolidated Results 📊

• Consolidated Q3 profit before tax Rs 1,705.09 lakhs vs Rs 12.87 lakhs YoY; 9M PBT Rs 2,659.66 lakhs vs Rs 788.86 lakhs YoY.
• Consolidated Q3 net profit Rs 447.01 lakhs vs Rs 8.91 lakhs YoY; 9M net profit Rs 693.25 lakhs vs Rs 587.99 lakhs YoY.
• Consolidated basic and diluted EPS for Q3 Rs 6.82 vs Rs 0.05 YoY; 9M EPS Rs 10.65 vs Rs 3.19 YoY.
• Other comprehensive income showed large negative swings in Q3 standalone and consolidated results.

Corporate Actions & Governance 📍

• Ms. Sruthi Sindhu appointed Company Secretary and Compliance Officer effective March 1, 2026.
• Auditor's limited review found no material misstatements in standalone and consolidated financials.

Business Model & Segments

• STEL Holdings is a Core Investment Company earning income from dividends, interest, and investment gains.
• Company operates in a single business segment; Doon Dooars Plantations Ltd is a wholly owned subsidiary included in consolidated results.