Outcome of Board meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board approved audited standalone results for Q4 and FY ended March 31, 2025 with an unmodified (clean) auditor's opinion from L K Ajmera & Associates. Full-year revenue grew modestly to Rs 145 lakhs (from Rs 123 lakhs), but profit after tax declined to Rs 3.25 lakhs (from Rs 3.94 lakhs). The company has negative reserves of Rs 113.44 lakhs (total equity at Rs -13.44 lakhs), current borrowings of Rs 141.57 lakhs, and negative operating cash flow of Rs 0.58 lakhs. The board approved issuing 2 crore convertible warrants on a preferential basis to 16 allottees (including the Managing Director Rajesh Kapoor), which could result in 66.90% post-issue holding for the allottees. The company also plans to diversify into furniture, home improvement, and interior decoration businesses and amend its main objects clause.
The 2 crore warrant issue will significantly dilute existing shareholders, with allottees potentially holding up to 66.90% of the company post-conversion. Combined with negative net worth, high borrowings, negative operating cash flow, and weak profitability, the stock carries turnaround risk, though the planned business diversification and equity infusion could reshape the company if successfully executed.