Grand Foundry Approves Q2 Results, Greenlights Name Change to Tikona Communication Limited
The Board of Directors of Grand Foundry Ltd has approved its unaudited financial results for the quarter ending June 30, 2026, while also approving a significant change in the company's name. The board meeting, held on July 20, 2026, established crucial timelines and governance measures ahead of an upcoming Extra-Ordinary General Meeting (EGM).The company, which operates in the telecom and communication equipment sector, including cables, optical fiber systems, and networking hardware, saw its revenue from operations rise significantly during the quarter. The unaudited results were reviewed by statutory auditors who issued a Limited Review Report.
Financial Performance Snapshot
The financial performance for the quarter ending June 30, 2026, shows both growth in top-line income and operational expenditures across various metrics. The data is presented below:| Metric | Quarter Ended June 30, 2026 (INR Lakhs) | Quarter Ended June 30, 2025 (INR Lakhs) | Year Ended March 31, 2026 (INR Lakhs) |
|---|---|---|---|
| Revenue from Operations | 1,964.91 | 1,052.56 | 1,052.56 |
| Total Income Expenses | 1,968.31 | 1,052.56 | 1,052.56 |
| Earnings Before Interest, Depreciation and Amortisation (EBITDA) | 224.63 | 107.83 | 74.37 |
| Profit before Tax for the period/year | 211.08 | 88.74 | 18.13 |
Corporate Changes and Governance
In a major corporate development, the Board approved the change in the company’s name from "Grand Foundry Limited" to "Tikona Communication Limited." This change is contingent upon subsequent approvals from shareholders, the Central Government (Registrar of Companies), and other required statutory or regulatory authorities.To seek shareholder approval for this name change and related matters, the board sanctioned an Extra-Ordinary General Meeting (EGM) scheduled for Thursday, August 13, 2026, which will be conducted via Video Conferencing (VC) / Other Audio Visual Means.
The Board further set several critical deadlines:
- Cut-off Date: Thursday, August 6, 2026, has been designated as the cut-off date for determining eligibility for remote e-voting members.
- Scrutinizer Appointment: Ms. Loveleen Gupta, a Practicing Company Secretary, was appointed to scrutinize the voting process during the EGM to ensure fairness and transparency.
Promoter Stake Sale Details
In addition to the corporate restructuring, the company noted details regarding a portion of its promoter holding. The promoters agreed to sell their stake of 2,13,51,740 equity shares, which represents 70.17% of the total paid-up equity capital. An Open Offer was launched on March 16, 2026, to acquire 79,11,800 shares at Rs. 2.50 per equity share, accounting for 26% of the paid up capital. The completion of this process is anticipated by July 2026.GFSTEELS Stock Price Movement
Shares of Grand Foundry Limited are gaining to ₹14.29 as of 1:54 PM today, driven by positive momentum that registers a 0.73% climb. The equity has reached its 52-week high mark and is currently trading on a volume of 2,874 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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