Evoq Remedies Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 18/04/2025 ,inter alia, to consider and approve Calling of Board Meeting on Friday, ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Evoq Remedies' board met on April 10, 2025, and approved issuing equity shares via a non-cash preferential swap to acquire up to 51% of Poshan Nutriwell Private Limited. It also cleared raising up to Rs. 99 crore through convertible warrants on a preferential basis from non-promoter investors, subject to shareholder approval. Another board meeting is called for April 18, 2025, to finalise these matters and convene an EGM. FY25 audited results show total revenue of Rs. 14.17 crore (up from Rs. 6.31 crore in FY24), but net profit dropped sharply to Rs. 8.82 lakh from Rs. 45.24 lakh, with EPS at Rs. 0.04. The auditor's annexure flags multiple concerns, including an ongoing SEBI show-cause notice regarding utilization of Rs. 19.21 crore from a previous preferential issue, a Rs. 655 lakh GST demand under litigation, non-compliance with audit trail and internal audit requirements, and large related-party loans worth Rs. 25 crore extended without proper approvals.
The proposed acquisition and Rs. 99 crore warrant issue could significantly dilute existing shareholders and transform the company's business, but the SEBI investigation, auditor red flags, and weak FY25 profitability raise serious governance and financial concerns that may weigh on the stock.