Outcome of Board Meeting held on 24th July, 2015 is enclosed.
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The Board of Axel Polymers, at its meeting on July 24, 2025, approved the unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations stood at Rs. 1,169.89 lakhs, down from Rs. 4,224.18 lakhs in the same quarter last year. The company posted a small profit before tax of Rs. 4.39 lakhs, turning around from a loss of Rs. 53.05 lakhs in Q1 FY25, with EPS of Rs. 0.05. The Board also approved issuing up to 28,28,891 equity shares on a preferential basis at Rs. 45 per share (face value Rs. 10, premium Rs. 35), raising approximately Rs. 12.73 crore from 57 named investors under the public category. An Extra-Ordinary General Meeting has been scheduled for August 20, 2025 to seek shareholder approval. The auditor's limited review also flagged an ongoing GST investigation at the factory premises since July 2024, with Rs. 1 crore deposited under protest as penalty.
Existing shareholders will see dilution once the preferential issue goes through — about 28.29 lakh new shares will be issued, representing a notable expansion of the equity base (current paid-up capital is Rs. 851.67 lakhs / 85.17 lakh shares). The sharp drop in revenue year-on-year is concerning, though the swing to a small profit offers some comfort. Investors should also watch the pending GST matter, as additional liabilities could arise from the ongoing investigation.