Statement of Material deviation in issue of proceeds with respect to preferential issue.
EMKAY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Emkay Global Financial Services reported FY26 results with standalone profit after tax of Rs 1,190.14 lakhs, down significantly from Rs 5,891.28 lakhs in FY25. The Board approved raising up to Rs 100 crore via Non-Convertible Debentures on private placement basis and increased borrowing limits to Rs 1,000 crore subject to shareholder approval. A dividend of Rs 1.50 per share (15%) was recommended. Regarding the preferential issue, the company issued 95 lakh convertible warrants at Rs 239.50 per warrant in October 2025, with 19.16 lakh warrants converted to equity shares by March 2026 (including conversions by promoters Krishna Kumar Karwa and Prakash Kacholia). Antique Securities Private Limited holds 75 lakh unconverted warrants. The company operates in Advisory & Transactional Services segment with multiple subsidiaries.
The steep decline in profitability (80% YoY drop in PAT) may concern investors despite the dividend announcement. The warrant conversions dilute equity, while the NCD issuance and increased borrowing limits indicate rising leverage. Promoter conversion of warrants signals confidence but increases their stake.