Outcome of Board meeting
Price
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Awaiting price reaction for this filing.
The board approved audited standalone results for Q4 and FY ended March 31, 2025, with the auditor issuing an unmodified (clean) opinion. FY25 revenue rose to Rs. 145 lakh from Rs. 123 lakh (~18% growth), while net profit was Rs. 3.25 lakh versus Rs. 3.94 lakh last year. Q4 FY25 showed a sharp jump in profit to Rs. 50.91 lakh, driven largely by higher other income. The company plans to raise funds by issuing up to 2 crore convertible warrants on a preferential basis to non-promoters and a director (MD Rajesh Kapoor to get 10 lakh warrants), which could nearly triple the equity base. The board also approved diversifying into furniture and home décor/furnishing business by amending the MoA's main objects, and reshuffled directors with one Independent Director exiting on term expiry and a new one appointed.
Existing shareholders will face significant dilution if all warrants are converted, with allottees taking up ~66.9% post-issue holding. Despite a clean audit, the company has negative net worth (Rs. -13.44 lakh) and negative operating cashflow, making the fund raise important but the stock may remain volatile given the small scale and structural weaknesses.