Synopsis:
Minerva Ventures Fund acquired 66,500 shares of A1 Ltd for Rs. 11 crore, showing strong foreign investor interest as the company eyes expansion and EV entry.
In a move that caught many market watchers attention, Mauritius-based Minerva Ventures Fund acquired a significant stake in A1 Ltd through a bulk deal on the BSE last week. The fund bought 66,500 shares at Rs. 1,655.45 apiece, valuing the Rs. 11-crore transaction as one of the most notable foreign inflows for the company this quarter.
A-1 Limited‘s stock, with a market capitalisation of Rs. 2,098 crores, rose to Rs. 1,824.95, hitting the intraday upper circuit, up 5 percent from its previous closing price of Rs. 1,738.05. Furthermore, the stock over the past year has given a return of 416 percent.
Foreign investor interest
Minerva Ventures Fund, a FPI made its open market purchase on November 7, 2025, as per BSE data. The transaction highlights growing international interest in A1 Ltd, formerly known as A1 Acid Ltd.
As of September 30, 2025, foreign investor holding in A1 Ltd stood at 6.03%, a sharp rise from 2.94% in March. Promoters retain control with a 70.03% stake, but this new investment signals deepening global confidence.
The A1 counter has already witnessed increasing liquidity over recent months, and this latest deal could attract more institutional players. This reflects a broader market sentiment investors are clearly aligning with companies transitioning toward sustainable business models.
Board meeting to decide bonus, split, and dividend
Adding to investor enthusiasm, A1 Ltd has called a crucial board meeting on November 14, 2025. The board will consider issuing bonus shares in the ratio of up to 5:1, along with a stock split of up to 10:1. Additionally, the agenda includes declaring a dividend of up to 50% of paid-up equity capital, subject to necessary approvals.
For shareholders, this meeting seems decisive. A combination of corporate rewards and sectoral expansion makes the stock an intriguing story right now. If approved, the bonus and stock split will enhance liquidity and improve retail participation, both of which tend to strengthen long-term market visibility for a small-cap firm like A1 Ltd.
Chemicals To Clean Mobility
In its most ambitious move yet, A1 Ltd has announced a planned expansion into electric mobility and allied clean technology fields. The company’s board is likely to formalize the proposal to diversify into EV-related operations including R&D, component production, battery systems, and charging infrastructure.
To reinforce this shift, A1 Ltd has raised its stake in subsidiary A1 Sureja Industries from 45% to 51% at an enterprise value of Rs. 100 crore. The subsidiary manufactures battery-operated two-wheelers under the Hurry-E brand. This move effectively transforms A1 Ltd into one of India’s first listed chemical firms with direct equity in a registered EV manufacturer.
The Hurry-E electric motorcycle, approved by the Automotive Research Association of India (ARAI), targets the mass market with prices between Rs. 75,000 and Rs. 1.10 lakh. It includes smart features such as reverse mode and advanced Battery Management Systems. The company aims to appeal to both daily commuters and fleet buyers seeking affordable, practical solutions.
India’s EV two-wheeler market is currently expanding at a 35% annual growth rate and is projected to cross 5 million units by FY2028. For A1 Ltd, this expansion could mark the start of a new growth phase driven by sustainability and innovation.
Q1 Financial Highlights
The company reported revenue of Rs. 64.69 crore in Q1FY26, down 8.5% year-on-year from Rs. 70.71 crore in Q1FY25 and sharply lower than Rs. 109.62 crore in Q4FY25, reflecting a sequential decline of 41%. Profit for the quarter stood at Rs. 0.60 crore, compared to Rs. 0.84 crore in both Q1FY25 and Q4FY25, indicating a decline of 28.6% YoY and QoQ performance.
Over the past three years, the company’s sales have grown at a modest 2% CAGR, while profits have contracted at a 16% CAGR. Return on equity (ROE) has improved at a 6% CAGR, suggesting some operational efficiency despite weak top-line and bottom-line growth.
Written By Fazal Ul Vahab C H
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