Revised Annual Report for FY 2024-2025.
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Onesource Industries and Ventures filed its revised 31st Annual Report for FY 2024-25, with the Managing Director claiming an exceptional 800% year-on-year jump in both revenue and net profit compared to FY 2023-24, driven by its export business. The AGM notice seeks shareholder approval for several key items including the issue of up to 6.63 crore fully convertible warrants at ₹6.10 each (aggregating up to ~₹40.45 crore) on a preferential basis to non-promoter entities, the re-appointment of statutory auditor Sumit Ranka & Associates for a second 5-year term, and the appointment of Shibhu Maurya as Managing Director and Chairman for 5 years from July 23, 2025. It also seeks approval for material related party transactions up to ₹1 crore each with Greater India Exports Private Limited and Sadbhav Minerals Private Limited for FY 2025-26, and an amendment to the Articles of Association to enable issuance of further securities.
For shareholders: the proposed preferential issue of ~6.63 crore convertible warrants represents significant potential equity dilution, while the re-designation of Sachin Maurya from independent to non-independent director is a governance change worth noting. The 800% growth claim, if accurate, signals a strong operational turnaround, but warrants scrutiny given the likely low base and the simultaneous large fund-raising.