Regulation30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 - Outcome of the Meeting of Board of Directors.
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The Board approved audited standalone financial results for Q4 and FY ended March 31, 2025, along with a clean (unmodified) auditor's opinion from K.S. Shah & Co. FY25 revenue stood at Rs. 11,474.37 lakhs (up from Rs. 7,569.84 lakhs in FY24, a ~51% jump), while profit after tax surged to Rs. 318.29 lakhs from Rs. 75.53 lakhs (~4x growth). The Board approved issuing 36.7 lakh convertible warrants at Rs. 60 each, aggregating Rs. 22.02 crore, on a preferential basis to promoters and select non-promoters. The Board also cleared a change of company name to 'Expo Engineering and Projects Limited', raised MD Hasanain Mewawala's remuneration from Rs. 12 lakh to Rs. 30 lakh per annum, appointed Mr. Sunil Sawant as Internal Auditor for FY26, and fixed June 27, 2025 for an EGM to seek shareholder approvals.
Strong topline and bottomline growth, coupled with a clean audit and warrant-based fundraise (no immediate equity dilution since warrants have 25% upfront and 75% on conversion within 18 months), is positive for shareholders. The name change signals a strategic pivot away from gas containers, while the 2.5x hike in MD pay may draw some shareholder attention at the EGM.