Bannari Amman Spinning Mills Limited has informed the Exchange about Forfeiture and SOP placed before the Board.
BASML · price
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The Board approved audited Q4 and FY2026 results showing standalone revenue of Rs 87,032.40 lakhs (down from Rs 88,735.86 lakhs YoY) but a major turnaround with PBT of Rs 2,366.77 lakhs versus a loss of Rs 270.55 lakhs in FY2025. Net profit from continuing operations reached Rs 1,689.74 lakhs. The Board recommended a dividend of Rs 0.25 per share (5% on face value of Rs 5). Importantly, 42,25,806 convertible equity warrants (Tranche I) allotted in November 2024 at Rs 62 per warrant were forfeited after the holders failed to pay the balance 75% subscription. The company had received only Rs 655 lakhs (25% upfront) before forfeiture. A rights issue completed in May 2025 raised Rs 4,071.47 lakhs, reducing promoter holding from 54.29% to 48.49%.
Return to profitability is a positive signal, though the recommended dividend is minimal. Forfeiture of warrants removes potential share dilution for existing shareholders, which is mildly positive. The company also ceased to be a subsidiary of Murugan Enterprises Private Limited following the rights issue.