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▲ 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 issuing equity shares through a preferential, non-cash swap to acquire up to 51% of Poshan Nutriwell Private Limited. It also approved raising up to Rs. 99.00 crore via convertible warrants on a preferential basis to non-promoter entities, subject to shareholder approval, with a follow-up Board meeting set for April 18, 2025. The Board also took on record the audited financial results for the half year and full year ended March 31, 2025. FY25 revenue more than doubled to Rs. 14.17 crore from Rs. 6.31 crore, but net profit fell sharply to Rs. 8.82 lakhs from Rs. 45.24 lakhs. The auditor flagged multiple concerns including a SEBI show-cause notice on prior preferential issue funds, a Rs. 655.03 lakh GST order, non-compliance with related-party loan provisions, and missing internal auditor.
The acquisition and Rs. 99 crore warrant-based fund raise signal aggressive expansion but will dilute existing shareholders upon warrant conversion. Sharp drop in profit despite revenue growth, combined with serious auditor flags around SEBI proceedings, tax defaults, and related-party lending, raises governance red flags that could weigh on the stock.