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Awaiting price reaction for this filing.
The Board of Remi Edelstahl Tubulars approved unaudited financial results for Q1FY26 (quarter ended June 30, 2025). Revenue from operations grew to Rs. 26.62 crore (up ~15.9% YoY from Rs. 22.97 crore), while net profit stood at Rs. 21.07 lakhs vs Rs. 19.65 lakhs in Q1FY25. The Board reappointed Cost, Internal and Secretarial Auditors for FY26. The company also approved preferential allotments aggregating about Rs. 24.12 crore at Rs. 129.33 per share: 6.69 lakh convertible warrants to WSG Co. Limited (South Korea) worth ~Rs. 8.66 crore as part of a USD 1 million investment, 5 lakh equity shares to promoter group entity Remi Finance and Investment Pvt Ltd, and 6.96 lakh shares to non-promoter allottees. A technology license and machinery purchase agreement with WSG was signed to manufacture Ultra High Purity and titanium stainless steel tubes in India.
The fund raise dilutes existing shareholders by ~10-12% but brings in strategic foreign partner WSG along with technology access for a new product line (UHP and titanium tubes), which could be a positive long-term catalyst. Short-term stock price may react to the Q1 results showing modest revenue growth but weak profitability.