Harmony Capital Service Ltd
The Stock exchange and stakeholders are requested to take on record unaudited financial result for the quarter ended 30-06-2026.
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MEDIUM RISK
📅 Filed on BSE: 16 Jul 2026, 10:32 PM IST · BSE ID: c8ed26d9-9a5a-4fd4-bf3c-5b2a46fb249d
View Original BSE Filing (PDF)
💡
In Simple Terms
Harmony Capital Services will acquire 51% of Truvolt Engineering by exchanging shares, valuing the deal at over Rs. 83 Crore.
🤖 AI Summary
- Board approved acquiring 51% of Truvolt Engineering Co Private Limited through a share swap arrangement.
- Up to 1,26,47,400 equity shares of Harmony Capital Services to be issued at Rs. 66/- per share.
- The preferential issue aggregates to Rs. 83,47,28,400/-, for consideration other than cash.
- Share exchange ratio set at 1:2, meaning 2 Harmony Capital shares for 1 Truvolt Engineering share.
- Unaudited financial results for Q1 FY27 show a Net Profit after Tax of Rs. 35.84 Lakh.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Net Profit after Tax (Q1 FY27)
Rs. 35.84 Lakh
Total Equity Shares to be Issued
1,26,47,400 Equity Shares
Issue Price per Equity Share
Rs. 66/- per Equity Share
Total Preferential Issue Value
Rs. 83,47,28,400/-
Share Exchange Ratio (HCSL:Truvolt)
2:1
Truvolt Engineering Co Private Limited Turnover (FY 2025-26)
Rs. 31509 Lakh
🏢 How This Affects the Company
The acquisition of Truvolt Engineering Co Private Limited will make it a subsidiary, expanding Harmony Capital Services' operations into engineering, manufacturing, and fabrication activities. This aligns with a strategy of strategic consolidation to strengthen business operations.
The transaction involves a non-cash consideration through a preferential issue of equity shares aggregating to Rs. 83,47,28,400/-, which will increase Harmony Capital Services' paid-up equity share capital. The financial results show a standalone Net Profit after Tax of Rs. 35.84 Lakh for the quarter ended June 30, 2026.
Upon completion, Truvolt Engineering Co Private Limited, with a turnover of Rs. 31509 Lakh for FY 2025-26, will become a subsidiary, integrating its engineering, manufacturing, and fabrication capabilities into Harmony Capital Services' portfolio.
The acquisition is subject to member approval, In-Principle Approval from BSE Limited, and other statutory/regulatory approvals, introducing execution risk. The transaction is identified as a related party transaction due to common promoters/shareholders.
👥 What This Means For Shareholders
✅
Action Required
Shareholders will be asked to approve the issuance of up to 1,26,47,400 equity shares by way of preferential issue through a Postal Ballot.
👤
Who Is Affected
Existing shareholders of Harmony Capital Services will be affected by the potential dilution from the issuance of up to 1,26,47,400 new equity shares for the acquisition. Existing shareholders of Truvolt Engineering Co Private Limited will receive Harmony Capital Services shares.
🔍
Management Signal
Management intends to expand the company's business activities through strategic acquisitions and is pursuing growth via non-cash consideration mechanisms like share swaps.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Outcome of the Postal Ballot for shareholder approval of the share swap.
Receipt of In-Principle Approval from BSE Limited for the proposed transaction.
Completion of the acquisition of 51% stake in Truvolt Engineering.
MEDIUM RISK
Acquisition pending multiple approvals, including shareholder and regulatory, and involves related party transactions.
💡 Investor Takeaway
Harmony Capital Services' Board approved the acquisition of 51% of Truvolt Engineering Co Private Limited through a share swap, valuing the preferential issue at Rs. 83,47,28,400/-. The transaction is pending shareholder and regulatory approvals, with Q1 FY27 Net Profit after Tax reported at Rs. 35.84 Lakh.
⚖️ Strengths & Concerns
✅ Positives
- Strategic acquisition of 51% in Truvolt Engineering, which had a turnover of Rs. 31509 Lakh in FY 2025-26.
- Independent valuation reports approved, determining fair value for both Harmony Capital Services (Rs. 66/- per share) and Truvolt Engineering (Rs. 132/- per share).
⚠️ Concerns
- The acquisition is subject to multiple approvals, including member and regulatory consents, which introduces execution uncertainty.
- Identified as a related party transaction due to common promoters/shareholders, requiring careful arm's length determination.
📅 Company Track Record
Harmony Capital Services reported a Q4 FY26 PAT of Rs. 34.69 Lakh, as per its filing on May 7, 2026. This indicates a consistent reporting of quarterly financial results.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What is Harmony Capital Services acquiring?
Harmony Capital Services is acquiring up to 63,23,700 Equity Shares, representing approximately 51% of the paid-up Equity Share Capital of Truvolt Engineering Co Private Limited.
What is the value of the share swap arrangement for the acquisition?
The preferential issue for the share swap arrangement aggregates to Rs. 83,47,28,400/-, through the issuance of up to 1,26,47,400 Equity Shares.
What were Harmony Capital Services' Net Profit after Tax for the quarter ended June 30, 2026?
Harmony Capital Services reported a Net Profit after Tax of Rs. 35.84 Lakh for the quarter ended June 30, 2026.
What is the share exchange ratio for the Truvolt Engineering acquisition?
The approved share exchange ratio is 1:2, meaning 2 Equity Shares of Harmony Capital Services Limited will be issued for every 1 Equity Share of Truvolt Engineering Co Private Limited.
What was Truvolt Engineering Co Private Limited's turnover for FY 2025-26?
Truvolt Engineering Co Private Limited had a turnover of Rs. 31509 Lakh for the Financial Year 2025-26.
Questions based on this BSE filing only. For information purposes.