Incredible Industries: Promoter Moves Shares, Group Control Stays Put

Chandrakanta Agarwal, a promoter of Incredible Industries Limited, acquired 3,40,000 equity shares (0.73% of the company) through an on-market purchase on March 25, 2026. This transaction involved a transfer of shares within the promoter group, meaning the overall shareholding of the promoter group, including Persons Acting in Concert (PAC), remains unchanged at 74.96%. The update was filed in accordance with SEBI regulations.

Promoter Confidence Shown Through Internal Share Shift

While Chandrakanta Agarwal's direct stake has increased, the stable aggregate holding of the promoter group signals consistent internal control. This type of transaction involves reallocating shares among existing promoters rather than an increase or decrease in their overall influence.

Company Background and Recent Activity

Incredible Industries Limited, formerly Adhunik Industries Limited, operates in India's steel sector, producing TMT bars and wire rods, and also has revenue from wind power. This is not the only recent promoter activity; Mahesh Kumar Agarwal, another promoter, also filed a disclosure on March 20, 2026.

The company's financial performance for Q3 FY26 showed revenue growth of 16.74%, but net profit declined by 40.70%.

Industry Environment and Company Risks

Despite the internal promoter movements, Incredible Industries faces a challenging market. Key risks include low profitability, fluctuating raw material prices, and intense competition in the cyclical steel industry. Concerns have also been noted regarding the company's sales growth over the past five years and its return on equity. The stock exchange previously sought clarification from the company regarding price movements in January 2023.

Competitive Landscape

Incredible Industries operates within the Indian steel sector, competing with major companies such as JSW Steel Ltd., Tata Steel Ltd., Jindal Steel & Power Ltd., and Steel Authority of India Ltd. (SAIL).