Outcome of the Board Meeting held on Tuesday, 12th August , 2025
Awaiting price reaction for this filing.
The Board of Directors of Dugar Housing Developments Limited (BSE: 511634) met on August 12, 2025, and approved the unaudited financial results for the quarter ended June 30, 2025. The company reported total revenue of Rs. 1.57 lakhs, up from Rs. 0.23 lakhs in the same quarter last year, but expenses rose sharply to Rs. 14.92 lakhs, resulting in a loss before tax of Rs. 13.35 lakhs (vs. a loss of Rs. 4.78 lakhs in Q1 FY25). Loss per share stood at Rs. 0.19. The Board also approved the allotment of 27,00,000 equity shares at Rs. 12 each (face value Rs. 10) on conversion of warrants, increasing paid-up capital from Rs. 7 crore to Rs. 9.70 crore. Allottees were Vinoth Kumar Mohanadas (24,30,000 shares) and Suseela Kumarappan (2,70,000 shares). The statutory auditor (M Sahu & Co.) issued a clean limited review report with no qualifications.
The company continues to post quarterly losses with widening losses despite higher revenue, suggesting costs are outpacing income and the business remains under stress. The warrant conversion is mildly dilutive but brings in only Rs. 3.24 crore and is unlikely to meaningfully change the financial picture for shareholders.