Pursuant to provision of Reg 30 and 33 of SEBI (LODR) Regulations 2015 the Meeting of the board of directors was held today i.e Thursday 14, August 2025 at the registered office of the ....
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Avance Technologies' board met on 14th August 2025 and approved un-audited financial results for the quarter ended 30th June 2025. On a standalone basis, revenue from operations jumped to Rs. 25.21 crore (from Rs. 4.23 crore in the same quarter last year), with profit after tax at Rs. 54.13 lakh versus Rs. 40.02 lakh a year ago. On a consolidated basis, revenue was Rs. 37.42 crore and profit after tax came in at Rs. 1.62 crore, recovering from a loss of Rs. 1.36 crore in the previous quarter. The board also approved the re-designation of Mr. Latesh Poojary from Executive Director to Chairman and Managing Director, subject to shareholder approval. Additionally, the company announced a rights issue of equity shares to raise up to Rs. 49.90 crore from existing shareholders.
Sharp year-on-year revenue growth on a standalone basis is a positive sign, though profit margins remain thin. The Rs. 49.90 crore rights issue will dilute existing shareholders and depends on their participation. Shareholders should watch the rights issue terms, the ratio, and the use of funds when officially announced.