Sumeet Industries has announced a board meeting to approve the financial results for the quarter and half-year.

The company’s share capital was significantly reduced by 94.92%, from 10.36 crore to 0.53 crore equity shares of Rs. 10 each, following a NCLT-approved resolution plan.

As a result, 52.65 lakh equity shares have been newly listed and admitted for trading on BSE and NSE.

Existing promoters’ holdings were fully extinguished, and the public shareholders’ shareholding was proportionately adjusted.

This capital restructuring improves the company’s balance sheet and sets a fresh base for future growth.