Book Closure intimation for the upcoming AGM
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The board approved unaudited Q1 FY26 (quarter ended 30 June 2025) results showing a sharp turnaround: net sales jumped from nil in Q1 FY25 to Rs.769.45 lakhs, and the company swung from a Rs.17.26 lakh loss to a Rs.7.39 lakh profit on a standalone basis (EPS Rs.0.02). The 64th AGM is fixed for 26 September 2025 at Tardeo, Mumbai, with the share transfer book closure period also notified. The board also approved a preferential allotment of 88.05 lakh equity shares at Rs.16 per share (face value Rs.10), raising roughly Rs.14.09 crore from three allottees, including Managing Director Bupinder Singh Chadha who will receive 29.3 lakh shares. Additionally, M/s Janki & Associates was appointed as Secretarial Auditor for five years (FY26–FY30), and the existing internal auditor was re-appointed.
The return to revenue and profit after a nil-sales base signals a genuine business pivot (likely tied to the mobility business and the October 2024 acquisition of NAE Mobility Pvt Ltd), which is positive for shareholders. However, the Rs.14 crore preferential issue is heavily concentrated among promoter/promoter-group entities at a modest premium, which is mildly dilutive but brings aligned capital into the company.