What the board decided
S.J.S. Enterprises' board met on 6 August 2026 and cleared four items. It approved the unaudited standalone and consolidated results for the quarter ended 30 June 2026, each accompanied by a limited review report. It approved acquiring the balance 9.90% of Walter Pack Automotive Products India Private Limited (WPI) held by whole-time director Mr. Roy Mathew — a step that converts WPI, already a 90.1%-held subsidiary since 2023, into a wholly owned subsidiary. The board also approved incorporating a new wholly owned subsidiary and shifting the registered office from Karnataka to Maharashtra, the latter subject to member and regulatory approval via postal ballot.
The WPI buyout and a new subsidiary
The residual WPI purchase is a cash transaction and, per the filing, qualifies as a related-party transaction on an arm's-length basis because Mr. Mathew is a whole-time director of WPI. Completion is expected to be immediate. WPI designs high value-added functional decorative parts using IML, IMF, IMD and IME technologies, with plants at Pune and Manesar.
Separately, the board approved incorporating a new wholly owned subsidiary in India to manufacture, assemble, test and sell displays for automotive, consumer and other applications. The subsidiary's name and incorporation date are yet to be finalised.
The June-quarter numbers
The results carried an exceptional item: during the quarter the company sold a freehold land and building for a consideration recognised as a one-off net gain. That gain lifts the quarter's reported profit, so the exceptional item and the underlying operating result are best read separately. The company also noted a dividend declared at its AGM on 4 July 2026, and reported year-on-year growth in standalone revenue and in profit before the exceptional item.