Pursuant to provisions of Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the meeting of Board of Directors of the company was held today ....
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Awaiting price reaction for this filing.
The Board of Directors of Avance Technologies met on 14th August 2025 and approved three key items. First, the standalone unaudited results for Q1 FY26 (quarter ended 30 June 2025) showed revenue from operations jumping to Rs. 25.21 crore from Rs. 4.23 crore in Q1 FY25 — nearly a 6x jump — with profit after tax rising to Rs. 54.13 lakh from Rs. 40.02 lakh. Second, the consolidated results showed revenue declining to Rs. 37.42 crore from Rs. 46.86 crore year-on-year, a drop of around 20%, while consolidated PAT slipped to Rs. 1.62 crore from Rs. 2.19 crore. Third, the Board approved a Rights Issue of fully paid-up equity shares (face value Re. 1) to existing shareholders for an amount not exceeding Rs. 49.90 crore, subject to regulatory approvals. The Board also re-designated Mr. Latesh Poojary from Executive Director to Chairman and Managing Director, pending shareholder approval.
Short-term: the rights issue announcement could put mild pressure on the stock price as shareholders decide whether to put in more money. Medium-term: strong standalone revenue growth is a positive, but the consolidated revenue decline and thin profit margins suggest the company is in an early or volatile growth phase. Existing shareholders will need to evaluate the rights issue price and ratio once announced.