Outcome of Board Meeting dt 29-05-26
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The board approved audited standalone and consolidated financial results for Q4 and FY26 ended 31st March 2026. Consolidated revenue declined to Rs. 64,680 lakhs from Rs. 84,447 lakhs in FY25, a 23% drop. However, net profit grew significantly to Rs. 3,190 lakhs from Rs. 1,971 lakhs, a 62% increase. The statutory auditor was changed from Sen & Ray to P. Somani & Co. after completion of tenure. The board approved increasing borrowing limits to Rs. 1,000 crores and issued 793,650 convertible warrants at Rs. 315 per warrant via preferential allotment. An emphasis of matter was noted regarding shares held by subsidiaries (6.61%) in contravention to Section 19 of Companies Act 2013. Operating cash flow was negative at Rs. 3,908 lakhs.
Revenue decline of 23% is concerning but strong PAT growth of 62% indicates improved profitability and cost management. The increased borrowing limits provide growth flexibility. The auditor change and related party commission require shareholder approval at the ensuing AGM.