Intimation under Regulation 30 (LODR)-Preferential Issue.
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Awaiting price reaction for this filing.
Lancer Container Lines reported weak Q2 FY26 consolidated results, with revenue falling about 54% year-on-year to Rs. 9,367.13 lakhs (from Rs. 20,209.24 lakhs) and profit after tax dropping to Rs. 677.02 lakhs (from Rs. 1,590.93 lakhs). EBITDA also slid to Rs. 551.27 lakhs from Rs. 1,901.44 lakhs, signalling margin compression. On the same day, the board approved acquiring the entire equity of UAE-based P K M General Trading LLC (along with its Indonesian subsidiary PT Map Trans Logistic) for Rs. 203.37 crore, payable entirely through a preferential share issue of about 10.29 crore shares at Rs. 19.77 each. The board also cleared raising the authorised share capital from Rs. 150 crore to Rs. 1,000 crore to accommodate the issuance. The limited review reports for both standalone and consolidated results carried an un-modified (clean) opinion, and the acquisition is stated to be an arm's-length, non-related-party transaction.
Existing shareholders face a sharp year-on-year earnings decline and significant share dilution of roughly 29% once the preferential allotment is completed, which could weigh on the stock in the near term. However, the all-share acquisition of PKM GT adds a sizeable Indonesian logistics franchise (PT Map's turnover was over Rs. 232 crore in CY2024) that the company expects to boost its turnover and margins, making shareholder approval at the upcoming EGM the next key trigger.