Zensar Technologies reported steady revenue growth of 4.2% year-over-year and 0.5% sequentially, reaching $162.8 million. EBITDA margin expanded by 20 bps sequentially, driven by favorable exchange gains and operational efficiencies. The company launched ZenseAI and reported a book-to-bill ratio of 1.02. The transcript reveals discussions on TMT sector challenges, AI integration, and future growth strategies.

Financial Performance

Zensar Technologies reported a revenue of $162.8 million for Q2FY26, representing a year-over-year growth of 4.2% in reported currency and 3.4% in constant currency. Sequential growth stood at 0.5%. Gross profit margin reached 31.0%, while EBITDA margin improved to 15.4%. The company’s PAT for the quarter stood at 12.8%.

Key Highlights

The company launched ZenseAI, an agentic AI platform. Zensar was recognized as a challenger in the Avasant Digital Masters Award in 2025. The order book for the quarter reached $158.7 million, with a book-to-bill ratio of 1.02 for the first half of the year.

Sector and Vertical Performance

Banking and Financial Services revenues increased by 5.6%, and Healthcare and Life Sciences grew by 3.9%. Manufacturing and Consumer Services saw a slight increase of 0.1%. Telecommunication, Media, and Technology (TMT) declined by 9.9%. The company is managing the TMT decline by growing other parts of the business and reducing dependence on that sector.

Operational Metrics and AI Initiatives

Utilization stood at 84.8%, a 200 bps increase year-over-year. The company added 831 employees, with a voluntary attrition rate of 9.8%. They are enriching their ZenseAI platform and focusing on AI capability enrichment for employees, with over 5,000 people deepening their skills in AI.

Future Outlook

The company acknowledged that Q3 is typically a weaker quarter due to furlough impacts. They are committed to maintaining margins and are focused on leveraging AI opportunities to drive future growth. 28% of current order bookings are AI-influenced. The company expects benefits from operational efficiencies, improved shore mix, and targeted cost control initiatives.

Source: BSE

Kaynes Technology has announced the resignation of Mr. Anup Kumar Bhat from his position as an Independent Director, effective November 10, 2025. Mr. Bhat also ceases to be a member of various committees. The resignation is attributed to his existing commitments, with no other material reasons cited.

Independent Director’s Departure

Mr. Anup Kumar Bhat has resigned from his role as an Independent Director of Kaynes Technology India Limited, effective November 10, 2025.

Committee Membership Ceased

With his resignation, Mr. Bhat will also no longer be a member of the Audit Committee, Corporate Social Responsibility Committee, Nomination & Remuneration Committee, and Risk Management Committee.

Reason for Resignation

The primary reason cited for Mr. Bhat’s resignation is his increasing commitments to other professional engagements. He has confirmed that there are no other material reasons beyond those stated. The company has acknowledged his contributions during his tenure.

Source: BSE

Kalyan Jewellers India Limited reported a 30% revenue growth for Q2 & H1 FY26, with consolidated revenue of INR7,856 crores. The company’s EBITDA reached INR497 crores, and profit after tax stood at INR261 crores. Kalyan Jewellers expanded its store network by opening 32 stores during the quarter, including Kalyan India, Middle East, and Candere outlets. Same-store sales growth for the 30-day period ending Diwali exceeded 30%.

Financial Performance Highlights

Kalyan Jewellers announced a strong financial performance for the quarter, demonstrating robust growth across key metrics:

• Consolidated Revenue: INR7,856 crores (30% growth)
• EBITDA: INR497 crores
• Profit After Tax: INR261 crores

The India business saw a revenue of INR6,843 crores, with a profit after tax of INR262 crores, marking a significant 118% increase.

Middle East and Candere Performance

The Middle East business reported revenue of INR866 crores and a profit of INR15 crores. Candere’s revenue reached INR93 crores.

Store Expansion and Outlook

During the quarter, Kalyan Jewellers strategically expanded its store network:

• Kalyan India: 15 new stores
• Middle East: 2 new stores
• Candere: 15 new stores

The company aims to continue its growth trajectory by focusing on store expansion and maintaining strong same-store sales growth.

Debt Reduction and Future Plans

Kalyan Jewellers has reduced its debt by INR130 crores, bringing non-GML debt levels to INR550 crores as of September 30, 2025. The company is on track to achieve its annual debt reduction target of INR300 crores and is also initiating steps to monetize non-core real estate assets. The same-store sales growth for the 30-day period ending Diwali was in excess of 30% on a like-for-like basis. The company expects PBT margins to be higher in H2 compared to H1, driven by factors such as store revenue share, product mix, and interest savings from debt repayment.

Regional Brand Launch

The launch of the regional brand is expected in Q4. This brand will offer 100% local and authentic jewelry, targeting customers who prefer non-aspirational designs. The company plans to open 5 showrooms with an investment of approximately INR300-350 crores. ROCE for the regional brand is expected to be in the range of 16%-18% in the initial year.

Source: BSE

Brickworks Ratings has withdrawn the rating of Aadhar Housing Finance’s Secured Non-Convertible Debentures (NCDs) amounting to ₹50.00 Crores, effective November 7, 2025. The withdrawal follows the full redemption of these NCDs. The announcement confirms that Aadhar Housing Finance currently has no instruments rated by Brickworks as of this date. This action reflects the company’s compliance with its debt obligations.

Withdrawal of Credit Rating

Aadhar Housing Finance announced the withdrawal of its credit rating by Brickworks Ratings India Private Limited for Secured Non-Convertible Debentures (NCDs) worth ₹50.00 Crores. The withdrawal is effective as of November 7, 2025.

Reason for Withdrawal

The rating withdrawal is due to the full redemption of the aforementioned NCDs. The announcement confirms that, following this redemption, Aadhar Housing Finance does not currently have any outstanding instruments rated by Brickworks Ratings.

Details of the NCDs

The NCDs in question, amounting to ₹50.00 Crores, had an original issue date of October 19, 2020, and a maturity date of October 19, 2025. They carried a coupon rate of 8.10%.

Source: BSE

Himadri Speciality Chemical has allotted 24,000 equity shares following the exercise of warrants. This allotment, approved on November 10, 2025, increases the company’s issued and paid-up capital to ₹50,45,18,950, consisting of 50,45,18,950 equity shares. The newly allotted shares rank equally with existing shares.

Equity Share Allotment

Himadri Speciality Chemical Ltd has announced the allotment of 24,000 equity shares, each with a face value of ₹1. This follows the exercise of warrants previously allotted on a preferential basis. The decision was made during a meeting of the Share Issue & Allotment Committee of the Board of Directors on November 10, 2025.

Details of the Allotment

The allotment was made upon receiving ₹56,88,000, calculated at ₹237 per warrant. The warrant exercise price represents 75% of the warrant issue price.

Impact on Capital Structure

Following this allotment, the company’s issued and paid-up capital has increased to ₹50,45,18,950, comprising 50,45,18,950 equity shares with a face value of ₹1 each.

Breakdown of Allottees

The equity shares were allotted to:

• Vikash Bajaj: 14,000 shares
• Dr Soumen Chakraborty: 10,000 shares

Source: BSE

AstraZeneca Pharma India Limited announced that Ms. Manasa R, the Company Secretary, will be leaving the organization to pursue other career opportunities. Her last day will be November 28, 2025, after which she will complete her handover period. The company is actively seeking a replacement for the position and wishes Ms. Manasa R well in her future endeavors.

Company Secretary Transition

AstraZeneca Pharma India Limited has announced the departure of its Company Secretary, Ms. Manasa R, effective November 28, 2025. She has decided to explore new career opportunities outside of AstraZeneca.

Handover and Replacement

Ms. Manasa R will complete her handover responsibilities by the end of business hours on November 28, 2025. AstraZeneca has initiated the process of finding a suitable candidate to fill the Company Secretary position.

Acknowledgement

AstraZeneca thanks Ms. Manasa R for her contributions to the company and wishes her success in her future endeavors.

Source: BSE

Union Bank of India confirms the timely payment of annual interest on its bonds as of November 10, 2025. The annual interest payment of ₹89,30,00,000/- was made to bondholders as per the mandate and beneficiary position. The bank has fulfilled its obligations under the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Annual Interest Payment Confirmation

Union Bank of India has announced the successful and timely payment of annual interest on its bonds. The payment was executed on November 10, 2025, in accordance with the terms and conditions governing the bond issuance. The bank remains committed to fulfilling its financial obligations to its investors.

Key Details of the Interest Payment

The following details pertain to the annual interest payment:

• ISIN: INE112A08051
• Issue Size: Rs. 1,000 Crores
• Interest Amount Paid: Rs. 89,30,00,000/-
• Due Date: 08.11.2025
• Actual Payment Date: 10.11.2025
• Frequency: Yearly
• Interest Payment Record Date: 24.10.2025

The interest payment was made for the aforementioned amount of ₹89,30,00,000/-. The last interest payment occurred on 08.11.2024.

Source: BSE

Apollo Tyres has announced an update regarding the re-lodgement of transfer requests for physical shares. As of October 31, 2025, the company received 4 requests. All 4 requests were rejected. This information is based on a report from the Registrar and Share Transfer Agent, KFin Technologies Limited, dated November 10, 2025.

Update on Physical Share Transfer Requests

Apollo Tyres is providing an update on the status of re-lodgement requests for physical share transfers as of October 31, 2025.

Key Details

The company received a total of 4 re-lodgement requests during the specified period.

Out of the 4 requests received, none were processed or approved. All 4 requests were rejected.

This information was provided by KFin Technologies Limited, the Registrar and Share Transfer Agent, in a report dated November 10, 2025.

Source: BSE

Himadri Speciality Chemical Limited has received consideration related to the issuance of warrants. This pertains to the allotment of equity shares upon conversion of 1,00,17,200 warrants, out of a total of 108,17,000 warrants, issued on May 14, 2024, at a price of ₹316 each. The funds were received from promoters and identified non-promoter persons, related to exercising options for equity share conversion.

Warrant Conversion Update

Himadri Speciality Chemical Limited has announced the receipt of consideration connected with the allotment of equity shares on the conversion of warrants. This relates to 1,00,17,200 warrants out of a total of 108,17,000 warrants.

Key Details of the Warrant Issuance

The original warrants were issued on May 14, 2024, each convertible into one equity share at a price of ₹316. This issuance was made to the Promoters of the Company and certain identified non-promoter persons (the ‘Allottees’).

Breakdown of Warrant Exercise and Funds Received

The following details highlight the warrant exercises and associated funds received from various allottees:

Source: BSE