Outcome of the Board Meeting Held on July 31, 2025
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The board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2025 (Q1 FY26). On a standalone basis, total income rose to ₹235.62 lakhs from ₹143.40 lakhs year-on-year, but the company still posted a loss after tax of ₹11.54 lakhs, narrower than the ₹50.38 lakh loss a year ago; EPS stood at ₹(0.14). On a consolidated basis, total income declined to ₹1,278.65 lakhs (vs ₹1,419.66 lakhs), while loss after tax widened to ₹240.00 lakhs from ₹191.55 lakhs. The board also approved a rights issue of up to ₹50 crores to existing equity shareholders at a price and ratio to be decided later, and constituted a Rights Issue Committee to oversee the process. Limited review reports by the statutory auditor (Manek & Associates) were unmodified.
Persistent losses at the consolidated level and the decision to raise up to ₹50 crores via a rights issue suggest the company is looking to shore up capital. Existing shareholders should watch for the record date and terms, as not participating would mean dilution of their stake.