Revised outcome of Board meeting hold on 30-5-2026 under Reg.30 of LODR.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board approved audited FY26 results with an unmodified audit opinion (A O Mittal & Associates). Full-year revenue fell 35% to Rs 38.91 crore (vs Rs 60.01 crore in FY25) and net profit dropped 63% to Rs 1.84 crore (vs Rs 5.05 crore). The board approved acquiring 99.99% of 3B Flexipacks Pvt Ltd (a promoter-group entity) for Rs 26.03 crore via an all-share swap (issuing up to 1.27 crore shares at Rs 20.39 each). Additionally, up to 1.34 crore new shares will be issued at Rs 20.39 each to convert unsecured loans from promoter and non-promoter lenders into equity (about Rs 27.36 crore). Authorized share capital will be doubled from Rs 25 crore to Rs 52 crore, an Independent Director (Ms. Mital Devani) resigned citing personal reasons, the objects clause is being widened to include agro/food products, and a new wholly-owned subsidiary will be set up in the UAE. An EGM is scheduled for June 27, 2026 to seek shareholder approval.
Sharp deterioration in FY26 earnings will likely weigh on the stock in the near term. Investors should brace for significant dilution — the share-swap acquisition plus preferential loan conversion together add roughly 2.6 crore new shares, materially expanding the equity base, while the acquisition is a related-party transaction where target shareholders include the company's own promoters and directors. Existing shareholders must vote on these proposals at the June 27 EGM.