Outcome of Board Meeting held today i.e., November 13, 2025
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Awaiting price reaction for this filing.
The board approved standalone unaudited financial results for Q2 and H1 FY26 (ended September 30, 2025), showing a strong turnaround. Total revenue for H1 FY26 jumped to Rs. 29.43 crore from Rs. 9.16 crore in H1 FY25, while net profit swung to Rs. 7.37 crore from a Rs. 0.25 crore loss. However, a large share of Q2 revenue (Rs. 28.89 crore of Rs. 31.30 crore total for the quarter including other income) came from 'other income,' not core operations. The board also approved conversion of 1 crore warrants held by Forbes EMF into equity shares at Rs. 5.55 per warrant, bringing in Rs. 5.55 crore and raising paid-up equity capital to Rs. 55.36 crore (55.36 crore shares of Rs. 1 each). The auditor flagged trade payables and loans/advances as pending comprehensive verification.
The headline profit swing looks impressive, but most of the Q2 jump came from non-operating 'other income,' so investors should check whether core lending/income is actually growing. The warrant conversion is mildly dilutive but expected, and the auditor's emphasis-of-matter on pending verification of balances is a watch-out.