SJS Enterprises Consolidates Control over WPI, Approves New Subsidiary and Reviews Q2 Financials

SJS Enterprises Consolidates Control over WPI, Approves New Subsidiary and Reviews Q2 Financials​

S.J.S. Enterprises Limited has taken significant strategic steps following its Board meeting on August 06, 2026. The company announced plans to acquire the remaining equity shares of Walter Pack Automotive Products India Private Limited (WPI) to achieve full ownership, while also approving the incorporation of a new wholly owned subsidiary (WoS).

The board considered and approved multiple items including the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. Concurrently, SJS Enterprises is moving towards the complete acquisition of WPI, which is currently held at 90.1% ownership by the company.

Acquisition Progressing to Wholly Owned Subsidiary​

In line with previous intentions regarding the Share Purchase Agreement (SPA) signed with Walter Pack Automotive Products India Private Limited and its shareholders, SJS Enterprises has decided on the acquisition of the remaining 34,661 equity shares held by Mr. Roy Mathew in WPI. This transaction is set to conclude, ensuring that WPI becomes a wholly owned subsidiary of the company.

Details regarding this purchase include:

• Consideration: Rs 199.22 Million
• Shareholding Acquired: SJS will acquire 9.90% of WPI's shares held by Mr. Roy Mathew.
• WPI Background: Incorporated on February 17, 2006, WPI is a leader in the design and development of high value-added functional decorative parts for automotive ancillary and consumer durables markets.

New Subsidiary Planned to Focus on Automotive Displays​

The Board of Directors also approved a proposal to incorporate a new Wholly Owned Subsidiary (WoS) as a Private Limited Company. The WoS will focus on the manufacturing, assembling, testing, and sale of displays across automotive and consumer applications. The company has committed an investment of up to INR 10,00,00,000 towards this proposed subsidiary. An initial capital contribution of INR 5,00,000 is designated for the time of incorporation, with the remaining funds planned to be infused in phases based on operational requirements.

Operational and Structural Updates​

Beyond these strategic moves, SJS Enterprises approved several key operational updates:

• Registered Office Shift: The Board considered and approved shifting the Registered Office from Karnataka to Maharashtra, pending member approval and necessary regulatory clearances. A postal ballot is planned for this change.
• Asset Sale: During the quarter ended June 30, 2026, the company sold a freehold land and building (classified as Assets held for sale) for a total consideration of Rs 585 million. This transaction resulted in an 'Exceptional Item' net income recognition of Rs 279.54 million.
• Employee Incentives: The company made an allotment of 8,375 Equity Shares to employees under the SJS Enterprises - Employee Stock Option Plan 2021 and granted 26,500 Employee Stock Options to eligible staff during the quarter ended June 30, 2026.
• Dividend Declaration: In its 21st Annual General Meeting held on July 4, 2026, the company declared a dividend of Rs 3.50 per equity share.

Q2 Financial Results Show Performance Metrics​

The unaudited consolidated and standalone financial results for the quarter ended June 30, 2026, showed various performance metrics across the Group.

Consolidated Unaudited Financial Results (Quarter Ended June 30, 2026)

• Total Income: Rs 266,284 million
• Total Expenses: Rs 198,638 million
• Profit before exceptional item and tax: Rs 67,646 million

Standalone Unaudited Financial Results (Quarter Ended June 30, 2026)

The company's financial reports for the quarter ended June 30, 2026, were reviewed by the Audit Committee and approved by the Board of Directors. The consolidated results include entities such as SJS Decoplast Private Limited, Walter Pack Automotive Products India Private Limited (WPI), and SJS Foundation (Corporate Social Responsibilities Trust).