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Sumeet Industries has announced a rights issue for its eligible shareholders aimed at enhancing financial flexibility and supporting the Company`s strategic business priorities.The board of Sumeet Industries has approved the terms of a rights issue aggregating to Rs 199.75 crore through the issuance of Rs 16.84 crore fully paid-up equity shares. The company proposes to deploy Rs 49 crore from the rights issue proceeds towards the acquisition and operationalisation of additional 140,000 Ton Per Annum Polyester Chips (CP) plant acquired from Nakoda in Surat, Gujarat. The project involves a total capital outlay of Rs 90 crore; with the balance Rs 41 crore being funded through internal accruals. Expected to be recommissioned in Q1 FY27 28, the facility will strengthen backward integration and support the company`s downstream polyester manufacturing operations.

Sumeet Industries will hold a meeting of the Board of Directors of the Company on 8 June 2026.

Net profit of Sumeet Industries declined 88.92% to Rs 7.50 crore in the quarter ended March 2026 as against Rs 67.68 crore during the previous quarter ended March 2025. Sales rose 9.34% to Rs 265.72 crore in the quarter ended March 2026 as against Rs 243.02 crore during the previous quarter ended March 2025.For the full year,net profit declined 83.95% to Rs 27.33 crore in the year ended March 2026 as against Rs 170.26 crore during the previous year ended March 2025. Sales rose 4.69% to Rs 1050.42 crore in the year ended March 2026 as against Rs 1003.37 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales265.72243.02 9 1050.421003.37 5 OPM %5.052.53 -5.461.23 - PBDT11.215.24 114 50.7211.10 357 PBT6.340.12 5183 31.60-9.69 LP NP7.5067.68 -89 27.33170.26 -84 Powered by Capital Market - Live News

Sumeet Industries will hold a meeting of the Board of Directors of the Company on 29 May 2026.

Sumeet Industries has been declared as the Successful Bidder (H1 Bidder) for the acquisition of assets at Phase-3: Chips Manufacturing Plant of Nakoda under the Corporate Insolvency Resolution Process. The Board of Directors of the Company, at its meeting held today, has considered and unanimously approved the Letter of Intent dated 11 March 2026, confirming the acquisition of the said assets under slump sale. Nakoda, a Surat-based company, was engaged in the manufacturing of Polyester Chips. The acquisition includes land and building admeasuring approximately 11,534 square meters along with the entire plant and machinery situated at Phase-3: Chips Manufacturing Plant.Powered by Capital Market - Live News