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Adani Energy Solutions has submitted a press release stating that AESL Wins Rs 4,700 crore Transmission project in Maharashtra for evacuation of 4,500 MW of Renewable & Storage Power.

The above information is a part of company’s filings submitted to BSE.

Shri Gang Industries & Allied Products has informed that the meeting of the Board of Directors of the Company is scheduled on 31/08/2026, inter alia, to consider and approve the following agenda items: 1. Increase in Authorised Share Capital of the Company and subsequent alteration in Memorandum of Association of the Company. 2. Proposal for issuance of one or more instruments including equity shares/ convertible securities either by way of Preferential Issue/ Rights Issue/ QIP/ or any other mode as may be considered or as may be deemed fit and/or other modalities including determination of price thereon. 3. Other usual routine matters including any other matter brought forward before the Board, with the kind consent of the Chairperson.

The above information is a part of company’s filings submitted to BSE.

Kwick Forensic Solutions

• Kwick Forensic Solutions is coming out with an initial public offering (IPO) of 56,41,600 shares in a price band of Rs 85 - 90 per equity share.
• The issue will open for subscription on August 27, 2026 and will close on August 31, 2026.
• The shares will be listed on SME Platform of BSE.
• The face value of the share is Rs 10 and is priced 8.50 times of its face value on the lower side and 9.00 times on the higher side.
• Book running lead manager to the issue is Corporate Capitalventures.
• Compliance officer for the issue is Selvakumar Krithika.

Profile of the company

Kwick Forensic Solutions provides end-to-end products, solutions, tools and technologies for forensic sciences, fingerprint science, cyber/digital forensics, social-media analytics and big-data analytics, with a focus on Total Evidence Management and Law-Enforcement solutions across India. The company supplies crime scene investigation products and solutions, conducts product demonstrations and awareness programmes on evidence-management best practices, and maintains a sales and marketing presence across major states in India, serves a mix of Government and private sector customers including police departments, forensic laboratories, fingerprint bureaus and training institutes and other customers nationwide.

It is a quality-focused company and maintains standards from procurement to delivery. For forensic products sourced from OEMs, the R&D team reviews client requirements, follows SOPs, and checks all materials received. In the case of Mobile CSI Vehicles (MCSIV), the operations team supervises fabrication and kit installation. For handheld devices developed and assembled by it the R&D team conducts necessary tests i.e Visual Inspection, Functional Testing and Performance testing to ensure performance and compliance. 

Both R&D and Operations teams work together to ensure adherence to its quality management systems as well as statutory and regulatory requirements. Quality has always been a core focus area for the management, as evidenced by its multiple internationally recognized certifications and accreditations. The company holds ISO 9001:2015 (Quality Management Systems), ISO 14001:2015 (Environmental Management Systems), ISO/IEC 20000-1:2018 (IT Service Management), and ISO/IEC 27001:2022 (Information Security Management Systems) certifications, and is registered with MSME (Micro, Small and Medium Enterprises), DSIR (Department of Scientific and Industrial Research), and NSIC (National Small Industries Corporation).

Proceed is being used for:

• Funding the working capital requirement of the company
• General corporate purposes

Industry overview

The crime scene investigation (CSI) landscape in India is evolving with increasing collaboration between traditional law enforcement agencies and modern forensic institutions. State police forces remain the primary first responders, responsible for securing and documenting crime scenes. However, the competitive dynamic is shaped by the growing involvement of specialized investigative wings such as the Central Bureau of Investigation (CBI) and state-level Criminal Investigation Departments (CIDs), which bring advanced protocols and investigative frameworks. This shift has created a layered ecosystem where local police focus on primary evidence handling, while specialized units ensure adherence to national and international standards. In the forensic investigation landscape, competition arises from the network of state and central Forensic Science Laboratories (FSLs), which vary in their infrastructure and capacity. Central bodies like the Central Forensic Science Laboratory (CFSL) under the Directorate of Forensic Science Services (DFSS) are positioned as benchmarks of quality and technical expertise, while state FSLs often grapple with resource and manpower limitations. The resulting disparity has spurred demand for efficiency and innovation, creating an environment where better-equipped laboratories set competitive standards that others must align with to maintain credibility. 

Alongside government institutions, private forensic consultancies and accredited laboratories are steadily gaining traction in India. These entities compete by offering faster turnaround times, specialized expertise in niche areas such as digital forensics or DNA profiling, and customized services for both legal and corporate investigations. Their presence challenges traditional state-led systems by providing alternative, often more agile, solutions to evidence analysis. However, they also face scrutiny regarding admissibility of evidence in court and compliance with regulatory frameworks, which places them in a competitive balancing act against public institutions. 

The technology landscape further adds to the competitive equation. Adoption of advanced techniques such as 3D crime scene reconstruction, AI-driven facial recognition, and biometric verification is reshaping how evidence is processed and interpreted. Multinational technology providers, domestic startups, and public research institutions are competing to supply tools and platforms that enhance investigative capabilities. This competition is driving innovation, reducing dependency on manual processes, and fostering a more technologically integrated crime and forensic investigation ecosystem in India.

Pros and strengths

Tie-ups and strategic relationship with the global leaders: Over the years, it has established strong standing long relationships with several leading OEMs including Sirchie (USA), Thermo Fisher Scientific, Invitrogen, Rapiscan Systems, Smallpond, MHC Hardware Software Trading LLC, Seratec and others. It typically engages with these suppliers on a deal-to-deal basis, ensuring flexibility and responsiveness to market opportunities. In addition, it is dealing with OEM through the long-term non-exclusive distribution agreement or through Purchase orders with OEM’s for the supply of their products, further strengthening its position in the market. These collaborations empower it to secure superior-quality equipment’s and components at scale, enabling not only substantial cost savings but also ensuring a consistent and reliable supply chain. By aligning itself with reputable OEMs, it defenses its position in the market, elevating its capacity to deliver excellent products with efficiency. This strategic synergy with OEMs not only strengthens its procurement capabilities but also enhances its overall competitiveness in the industry.

Quality assurance and quality certification: It is a quality-focused company and maintains standards from procurement to delivery. For forensic products sourced from OEMs, its R&D/technical team reviews client requirements, follows documented SOPs, and conducts incoming inspections to confirm that materials conform to agreed specifications. For Mobile CSI Vehicles, its operations team supervises fabrication, electrical/IT integration, and installation of scientific kits, followed by pre-dispatch checks and client acceptance procedures. For its in-house handheld devices, Chamber & Cabinet, the R&D team conducts defined qualification/validation tests - such as Visual Inspection, Functional Testing and Performance testing prior to release to ensure performance and compliance. Both R&D and Operations teams work together to ensure adherence to its quality management systems as well as statutory and regulatory requirements. Quality has always been a core focus area for the management, as evidenced by its multiple internationally recognized certifications and accreditations. The company holds ISO 9001:2015, ISO 14001:2015, ISO 200001:2018, ISO 27001:2022 certifications, and is registered with MSME, DSIR, and NSIC.

Niche market segments: Its business operates in a specialized segment where there are no competitors in a listed space with a similar end-to-end offering. The industries it serves primarily include government departments, authorities, and law enforcement agencies. Over the decades, it has cultivated strong, long-term relationships within these sectors, earning a reputation as a trusted supplier. This established trust and past experience of serving the industry from a decade make it preferable choice for the projects, creating significant barriers to entry for new competitors.

Risks and concerns

Significant revenue concentration in Bihar and Gujarat: Its products and services across the four business segments are significantly concentrated in specific geographic markets, primarily the states of Bihar and Gujarat. In Fiscal Years 2026, 2025 and 2024, its revenue contribution from Bihar was 9.02%, 21.80% and 34.53%, respectively, and from Gujarat was 29.39%, 20.07% and 22.77%, respectively, of its total revenue from operations. Any adverse developments in these regions may materially impact its business, financial condition, results of operations, and cash flows.

Risk of technological obsolescence and changing customer requirements: Its business model requires it to consistently innovate, develop, and enhance its products and services to meet evolving customer requirements, technological advancements, and industry standards. The forensic technology and solutions sector is dynamic, where customer expectations are continually changing, and rapid product obsolescence is a possibility. Any inability to anticipate market trends, allocate sufficient resources for research and development, or successfully introduce upgraded products may limit its ability to compete effectively. Further, if its newly developed or enhanced products fail to achieve customer acceptance, or if there are delays, defects, or deficiencies in product performance, it may adversely affect its brand reputation, customer relationships, and revenue generation. 

Revenue reliance on government entities: The company derives 55.22%, 78.91% and 86.98%, in FY 2026, 2025 and 2024 revenue from business transactions with government entities or agencies. Any change in the governments in the markets in which it operates, change in policies and/or its inability to recover payments therefrom in a timely manner or at all, would adversely affect its operations and revenues which in turn would adversely affect its profitability.

Outlook

Kwick Forensic Solutions is primarily engaged pan India in Business of modernization of Police Departments involved in crime scene investigations and specialises in evidence identification, collection, digitization using scientific kits and user-friendly handheld devices. Its understanding of client requirements, combined with its technical knowledge and experience of project execution, reinforces its competitive advantage. By consistently delivering tailored solutions and maintaining proactive engagement, it continues to strengthen its position in this niche market, ensuring sustainable growth and long-term client loyalty. On the concern side, its purchases of goods represented 85.01%, 81.75%, and 54.76% of its total expenditure and represented 70.44%, 67.72%, and 48.03% of its revenue from operations in Financial Years 2025-2026, 2024-25 and 2023-24, respectively. Any adverse change in the supply availability or pricing of goods procured by it may negatively impact its business, results of operations, cash flows, and financial condition.

The company is coming out with a maiden IPO of 56,41,600 equity shares of face value of Rs 10 each. The issue has been offered in a price band of Rs 85-90 per equity share. The aggregate size of the offer is around Rs 47.95 crore to Rs 50.77 crore based on lower and upper price band respectively. On performance front, revenue from operations increased 62.57% from Rs 6,502.69 lakh in Fiscal 2025 to Rs 10,571.28 lakh in Fiscal 2026. Profit after tax increased 57.81% from Rs 855.94 lakh in Fiscal 2025 to Rs 1,350.77 lakh in Fiscal 2026.

Meanwhile, a significant portion of its revenue has historically been derived from the states of Bihar and Gujarat. It has been actively working towards reducing this concentration risk by expanding its presence across other regions of India. It is actively mitigating this concentration risk by expanding into other regions through on-ground workshops and training programs and targeted business development. Going forward, in addition to its efforts in hardware development, it is actively taking steps in software innovation aligned with the requirements of BNSS 2024 and other laws. From the start of F.Y 2025-26, its dedicated R&D team are developing a range of software solutions - ‘E-Forensics’, each designed with specific functionalities to support law enforcement and forensic departments. These software tools are tailored to assist police officers and forensic professionals in evidence collection, as well as in training methodologies for accurate and efficient evidence-gathering techniques.

Cupid has informed that it is in receipt of disclosure from Aditya Kumar Halwasiya, Promoter and Chairman and Managing Director of the Company in compliance to Regulation 29 (2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The above information is a part of company’s filings submitted to BSE.

Himatsingka Seide has informed that the Securities Committee of the Board of Directors of the Company, at its meeting held on August 25, 2026, has confirmed the terms of issue of Series 1 Listed Non-Convertible Debentures.

The above information is a part of company’s filings submitted to BSE.