Please find the attached outcome of Board Meeting
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Callista Industries' board met on 14 November 2025 and approved several major items. The Q2 FY26 (ended 30 Sept 2025) results show zero income from operations with a net loss of Rs. 4.81 lakhs, taking H1 FY26 losses to Rs. 8.18 lakhs. The company continues to have negative net worth of Rs. (85.92) lakhs as of 30 Sept 2025. The CFO and Whole-Time Director Mahendra Kumar Sharma and Company Secretary Navnath Patil both resigned with immediate effect; Managing Director Rashmi Ravi Sharma was additionally appointed as CFO (she is related to existing Non-Executive Director Binita Devang Shah). The board approved raising of funds via issue of 3.37 crore convertible warrants and 12.5 lakh equity shares on a preferential basis to promoters, promoter group, and non-promoters, alongside an increase in authorised share capital from Rs. 10 crore to Rs. 38.10 crore.
Shareholders should note the company is loss-making with no operational revenue, negative net worth, and is relying on preferential equity issuances (largely to the promoter group) to stay afloat. The simultaneous exits of the CFO/WTD and Company Secretary raise governance concerns, while the dilution from the preferential allotments will materially reshape the shareholding pattern.