Please find the attached 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 unaudited results for Q2 and H1 FY26 (ended Sept 30, 2025) showing zero revenue from operations and a net loss of Rs. 8.18 lacs for the half year (vs. Rs. 1.20 lacs loss in H1 FY25). The company's total equity is negative at Rs. -85.92 lacs, with accumulated losses of Rs. 390.58 lacs reflected in other equity. The board approved increasing authorized share capital from Rs. 10 crore to Rs. 38.10 crore and raising funds via 3.37 crore convertible warrants (to promoters, promoter group, and non-promoters) and 12.5 lakh equity shares (to non-promoters) on a preferential basis. Additionally, CFO/Whole-Time Director Mahendra Kumar Sharma and Company Secretary Navnath Patil resigned with immediate effect, and Rashmi Ravi Sharma was appointed as the new CFO.
Existing shareholders face significant dilution risk from the large preferential issue (warrants plus equity shares collectively represent a major expansion of the share base), and the negative equity plus absence of operating revenue raises going concern worries. However, the capital raise could provide funds to restart or expand business operations.