1. Acquisition of Tandhan Power Technologies - Shah Foods completed the 100% acquisition of Tandhan Power Technologies (TPTPL) on 27 March 2026 via a share swap valued at ₹99.3 crore, adding a power storage and backup solutions business with FY25 standalone turnover of ₹144.4 crore. This transaction transforms SFL from a dormant shell into an operating company with immediate scale, as TPTPL's FY25 revenue is over 36x the company's last reported full-year revenue of ₹3.98 crore.
2. Jalan family takes control with 69.4% stake - Post-transaction, the Jalan family promoter group holds 1.62 crore shares or 69.39% of the expanded equity, having entered with zero prior shareholding. A board reconstitution meeting is scheduled for 8 July 2026, which will complete the management takeover and align governance with the new power storage business.
3. Borrowing capacity expanded to ₹500 crore - The board approved enhancing borrowing limits and asset-charge creation capacity to ₹500 crore, subject to shareholder approval. With a post-infusion net worth that is now meaningfully positive and debt of just ₹5 crore, this headroom allows the new business to fund working capital or acquisitions without immediately returning to equity markets.
4. Registered office shifting to West Bengal - The board approved relocating the registered office from Gujarat to West Bengal, where TPTPL is based, subject to statutory approvals. Consolidating operations in one geography removes administrative friction for a company whose entire business now sits in Kolkata.