Sita Enterprises News

Sita Enterprises Clarifies Price Movement to BSE

Sita Enterprises Limited responds to BSE inquiry about share price movement, stating no undisclosed material information exists and attributing movement to market conditions.

Sita Enterprises Reports Mixed Q2 Results Amid Major Ownership Change

Sita Enterprises Limited reported quarterly results for the period ended September 30, 2025, showing a net loss of Rs 1.87 lakhs compared to a profit of Rs 39.86 lakhs in the previous quarter. Total revenue declined to Rs 31.32 lakhs from Rs 137.68 lakhs in the prior quarter. The company experienced significant corporate changes during the quarter, including the transfer of 21 lakh equity shares (70% of issued capital) to new promoter Jitendra Rasiklal Sanghavi on September 2, 2025. Additionally, the company sold 7.2 lakh equity shares of associate company Bombay Mercantile and Leasing Company Limited to directors Ashok Tulsyan and Sanju Tulsyan. Board composition changed with the exit of Ashok Tulsyan, Sanju Tulsyan, and Sneha Tulsyan as directors, while Harsh Gandhi, Kirit Gordhadas Thakker, and Arushree Singh were appointed as new directors. The company's total assets increased to Rs 2,012.37 lakhs from Rs 1,562.44 lakhs as of March 31, 2025, primarily driven by higher investments of Rs 1,689.08 lakhs. Cash and cash equivalents rose significantly to Rs 130.61 lakhs from Rs 21.71 lakhs. The auditors issued an unmodified review opinion on the financial results.

Sita Enterprises Limited Reports Promoter Change with New Promoter Acquiring 71.76% Stake

Sita Enterprises Limited announced a change in promoter shareholding. The previous promoters sold 21,00,000 shares to new promoter Mr. Jitendra Rasiklal Sanghvi through a share purchase agreement. Mr. Sanghvi also acquired 52,933 additional shares through an open offer. The transfer of shareholding was completed before September 30, 2025. Mr. Sanghvi now holds 21,52,933 shares, representing 71.76% of the company's total issued capital. The previous promoters retain 1,50,000 equity shares comprising 5% of total issued capital, which will be reclassified as public shareholders. The company will file its shareholding pattern for the September quarter reflecting these revised holdings.

Sita Enterprises Promoter Group Sells 21 Lakh Shares in Off-Market Transaction

Promoter group members led by Ashok Kumar Tulsyan sold 21,00,000 shares of Sita Enterprises Limited through an off-market transaction on September 2, 2025. The sale was conducted under a Share Purchase Agreement dated December 24, 2021. Following the transaction, the promoter group's shareholding decreased from 75% to 5% of the company's total equity. Key sellers included Ashok Kumar Tulsyan, Ashok Tulsyan HUF, Saras Commerce LLP, and Bombay Mercantile & Leasing Company Limited. The company's equity share capital remains at Rs. 3 crore, divided into 30 lakh equity shares of Rs. 10 each. Sita Enterprises is listed on BSE Limited.