Leela Palaces Hotels & Resorts Limited announces that its wholly owned subsidiary, Aries Holdings (DIFC) Limited, has made a further investment of USD 47.72M in Argon Holdings (DIFC) Limited. As of November 11, 2025, the company continues to exercise 25% of the shares and voting rights in Argon Holdings (DIFC) Limited. There is no change in the control as a result of this investment.

Subsidiary Investment Update

Leela Palaces Hotels & Resorts Limited announced on November 11, 2025, that Aries Holdings (DIFC) Limited, a wholly owned subsidiary incorporated outside India, has made a further investment in Argon Holdings (DIFC) Limited.

Investment Details

The investment amounts to USD 47.72M (Forty-Seven Million Seven Hundred Twenty Thousand US Dollars only). Despite this investment, there is no change in the control of Argon Holdings (DIFC) Limited. The company continues to exercise 25% of the shares and voting rights. Argon Holdings (DIFC) Limited is an investment company incorporated on October 11, 2023.

Argon Holdings Financials

Argon Holdings (DIFC) Limited’s financials are as follows: Turnover for FY-25 is NIL, Turnover for FY-24 is NIL, and Turnover for FY-23 is N.A. The company’s country of presence is the United Arab Emirates (U.A.E.).

Source: BSE

Grasim Industries reported its Q2 FY’26 earnings, highlighting a consolidated revenue increase of 8% year-over-year. The company is making strides in its new ventures, with Birla Opus becoming a significant player in the decorative paints sector and Birla Pivot expanding its B2B e-commerce platform. Grasim’s diversified business model and strategic investments in high-growth sectors continue to drive its growth trajectory.

Financial Performance

Grasim Industries has shown consistent revenue growth, marking 21 consecutive quarters of year-on-year increases. The trailing 12-month consolidated revenues reached INR1,59,663 crores, up 8% compared to FY ’25. Standalone revenue also saw a significant increase, reaching INR9,610 crores, a 26% year-on-year growth.

Birla Opus Paints

Birla Opus has emerged as a strong contender in the decorative paints market, now holding the position of the second-largest decorative paints company with 24% of the industry’s capacity. In October 2025, production commenced at their sixth and largest plant in Kharagpur, West Bengal, adding a capacity of 236 million liters per annum. The brand’s focus remains on bridging the gap between volume market share and capacity share, with premium and luxury products contributing upwards of 65% of revenue.

Birla Pivot B2B E-Commerce

Birla Pivot is expanding its reach and product portfolio to become a full-stack raw material procurement platform, targeting a USD200 billion B2B e-commerce market by 2030. The platform now includes polymers, solvents, textile chemicals, and nonferrous metals. Revenues in Q2 FY’26 were up sequentially by 15% despite monsoon conditions, and the company aims to achieve INR8,500 crores or $1 billion in revenue by FY’27.

Segmental Highlights

The Cellulosic Fiber business reported stable fiber utilization rates in China improving to 89% during Q2 FY’26. The total sales volume for Cellulosic Staple Fiber (CSF) was down 5% year-on-year, impacted by logistical issues, now resolved, at Vilayat. Cellulosic Fashion Yarn sales volume increased by 3% year-on-year driven by festive demand. The Chemicals business achieved two-year high revenue driven by performance across caustic soda, chlorine derivatives and specialty chemicals.

Sustainability and Capex

Grasim has outlined a capex of INR2,263 crores for FY ’26, with INR941 crores deployed in the first half. The company’s Birla Cellulosic Fiber division received the highest rating in the Canopy’s Hot Button Report for the sixth consecutive year, highlighting its focus on sustainability. Net debt decreased by INR292 crores, standing at INR6,861 crores as of September 30, 2025.

Source: BSE

Cera Sanitaryware announced its Q2 FY26 results, with revenue at ₹4,879 million. EBITDA for the quarter reached ₹837 million, and PAT stood at ₹566 million. The company highlighted resilient performance amidst soft consumer demand and progress in key business segments. Sanitaryware and faucetware accounted for 47% and 40% of total revenues, respectively.

Q2 FY26 Financial Performance

Cera Sanitaryware Limited (CERA) announced its standalone financial results for the quarter ended September 30, 2025. Key highlights include:

• Revenue from Operations (Net of Taxes): ₹4,879 million
• EBITDA (Excluding Other Income): ₹671 million
• PAT: ₹566 million

Key Financial Metrics: Q2 FY26 vs. Q2 FY25

A comparison of key financial metrics between Q2 FY26 and Q2 FY25 reveals the following:

• Revenue from Operations: ₹4,879 million (Q2 FY26) vs. ₹4,900 million (Q2 FY25), a decrease of 0.4%.
• EBITDA: ₹671 million (Q2 FY26) vs. ₹696 million (Q2 FY25), a decrease of 3.6%.
• PAT: ₹566 million (Q2 FY26) vs. ₹681 million (Q2 FY25), a decrease of 16.9%.

Key Financial Metrics: H1 FY26 vs. H1 FY25

A comparison of key financial metrics between H1 FY26 and H1 FY25 shows:

• Revenue from Operations: ₹9,073 million (H1 FY26) vs. ₹8,880 million (H1 FY25), an increase of 2.2%.
• EBITDA: ₹1202 million (H1 FY26) vs. ₹1,257 million (H1 FY25), a decrease of 4.4%.
• PAT: ₹1032 million (H1 FY26) vs. ₹1,150 million (H1 FY25), a decrease of 10.3%.

Management Commentary

Mr. Vikram Somany, Chairman & Managing Director, commented on the performance, noting that CERA delivered a resilient performance in Q2 FY26 amidst soft consumer demand. He also highlighted encouraging developments across key business segments and the contribution of sanitaryware and faucetware to the company’s revenues.

Strategic Initiatives and Brand Development

The company advanced its brand architecture with progress in Senator and Polipluz. The Senator rollout is targeted at 45-50 stores for FY26, with 28 stores already operational. Dedicated teams support both brands, and early market feedback has been favorable.

Source: BSE

Dr. Reddy’s Laboratories has addressed a media report concerning a cyber fraud incident. The company clarified that the incident involved impersonation of a vendor’s email. Due to immediate action with banking partners, the funds were frozen, preventing financial losses. The company deemed the event immaterial, thus requiring no formal disclosure.

Cyber Fraud Incident

Dr. Reddy’s Laboratories has issued a clarification regarding a media report dated November 10, 2025, concerning a cyber fraud incident. The company’s statement addresses concerns raised in the media regarding potential financial repercussions.

Incident Details and Resolution

The company confirmed that the incident involved impersonation of a vendor’s email address for illegitimate redirection of funds. However, Dr. Reddy’s clarified that due to prompt intervention by internal teams and banking partners, the affected funds were successfully frozen. As a result, the company stated there has been no financial loss sustained by Dr. Reddy’s or its vendor.

Materiality Clarification

Dr. Reddy’s emphasized that the incident, as described and resolved, does not meet the criteria for a material event requiring formal disclosure.

Source: BSE

Akzo Nobel India has provided an update regarding the re-lodgement of physical share transfer requests. The company has released data relating to the requests received and processed up to October 31, 2025. The company confirms compliance with regulatory guidelines concerning the re-lodgement process for physical shares. There were no requests received, processed, approved or rejected during the reporting period.

Update on Physical Share Transfers

Akzo Nobel India has announced a status update regarding the special window for re-lodgement of transfer requests related to physical shares. The announcement provides details on the processing of these requests as of October 31, 2025.

Key Data Points

According to the update, during the period ended October 31, 2025:

• No. of requests received during the month: NIL
• No. of requests processed during the month: NIL
• No. of requests approved: NIL
• No. of requests rejected: NIL
• Average time taken for processing of requests (in days): NA

Source: BSE