Daily Filing Digest — Monday, 21 Sep 2026

Dilip Buildcon signed away its under-construction solar portfolio at an enterprise value of about ₹6,829 crore, continuing its asset-light pivot, on a day that also carried a ₹600 crore QIP, a radiology-business exit, and one small-cap's results filing whose 9.2x revenue growth arrived beside a qualified audit opinion on both its standalone and consolidated books.

The one to read first

Elitecon International reported consolidated revenue up 9.2x and profit after tax up 2.7x for FY26 — and its own auditor qualified both the standalone and consolidated opinions, citing a disputed ₹64 crore loan claim that has triggered an insolvency petition against the company, a SEBI forensic-audit order into its own shareholding pattern, and roughly ₹2,431 crore of the consolidated revenue sitting in three subsidiaries whose accounts the auditor could not verify were converted to the right accounting standard. Full read: Elitecon's Revenue Grew 9.2x. Its Own Auditor Couldn't Verify Half of It.

Deals and divestments

• Dilip Buildcon executed definitive agreements with Alpha Alternatives to divest its stake in ten solar SPVs held through DBL Renewable, an approximately 1,363 MW under-construction portfolio with an estimated project cost of ₹6,263 crore. DBRL and Alpha will fund the equity portion 51:49 during construction, after which DBL's remaining 51% will also be acquired by Alpha-led funds; the whole transaction is valued at an enterprise value of approximately ₹6,829 crore.
• Thyrocare Technologies approved the sale of its entire stake in Nueclear Healthcare (its radiology business) to Trovera Healthcare for approximately ₹141.4 crore — ₹59.5 crore in convertible preference shares and approximately ₹81.9 crore in cash, subject to a working-capital adjustment — exiting radiology to focus capital on pathology.
• Samvardhana Motherson International's subsidiary Samvardhana Motherson Adsys Tech approved buying 50.1% of Rotary Connectors Private Limited, making it an indirect subsidiary of the group; the filing does not state a consideration.
• Zodiac Energy completed the acquisition of a 63.5% stake in Zenwatt Clean Energy for ₹1.14 crore, continuing a strategic investment first disclosed on 9 February.
• Kapil Raj Finance's board approved acquiring 90% of Henyo Pack Limited via a share swap — up to 26,54,87,700 shares at ₹2.24 each to Henyo's shareholders — alongside a separate cash preferential issue, an authorised-capital increase and a proposed name change. A same-day public announcement of an open offer by the company's promoters could not be independently verified (the filing did not extract as readable text) and is not otherwise used here.

Capital raises

• Neogen Chemicals raised about ₹600 crore via its first-ever Qualified Institutions Placement, allotting 26,60,753 equity shares at ₹2,255 each; the company's press release states the issue was oversubscribed 6.5 times.
• TD Power Systems allotted 12,50,000 equity shares at ₹600 each on a preferential basis to two allottees, aggregating ₹75 crore, per an EGM resolution dated 10 September.

Order wins

• GK Energy received a Letter of Award from Maharashtra State Electricity Distribution Company for 150 MW / 300 MWh of Battery Energy Storage Systems with VGF support, at a tariff of ₹2,38,000 per MW per month; a second same-day filing repeats the announcement without new detail.
• Biocon Biologics' Pertuzumab biosimilar received a positive CHMP opinion from the European Medicines Agency, recommending EU marketing authorisation for HER2-positive breast cancer; the company describes it as the first monoclonal-antibody biosimilar to clear this tailored clinical-development pathway.
• Symbiotec Pharmalab's investor release for Q1 FY27 states the company serves over 200 customers in more than 40 countries across APIs, CDMO and complex injectables, with USFDA, EU-GMP, WHO-GMP and Japan-PMDA approvals across its Madhya Pradesh facilities.

Regulatory

MTNL disclosed a TRAI order dated 21 September imposing a financial disincentive of ₹14,00,000 for contravening quality-of-service regulations on its wireline access service for the quarter ended December 2025 — a small penalty, but one more entry on a company we have covered this week for ₹9,654 crore of bank-loan defaults.

What we're not reporting

Videocon Industries and 12 other Videocon-group companies gave prior intimation of the 65th consolidated Committee of Creditors meeting, scheduled for 23 September — a continuation of a long-running insolvency process, not new information. Two companies (Shirpur Gold Refinery, and an unnamed company under a separate CIRP) gave similar prior notice of routine CoC meetings. The remainder of the day's material MEDIUM tier was promoter-level share disclosures under SEBI's takeover and insider-trading regulations, none individually large enough to warrant a line, and a run of independent-director and KMP resignations citing personal reasons or fee non-payment, none disclosing a governance dispute beyond what was stated.

Educational research, not investment advice. Every figure above is drawn from the named company's own primary filing dated 21 September 2026 and checked against the source; where a filing disclosed no value, none is stated. No buy/sell recommendations, no price targets. Moat & Margin is not a SEBI-registered Research Analyst or Investment Adviser.