Board approves Rs 22.20 cr preferential issue, Q1 results and UHP capex
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Q1 FY27: Revenue Rs 35.19 cr (up 32% YoY), Net profit Rs 45.14 lakh versus Rs 21.07 lakh YoY. Board approved Rs 22.20 cr preferential issue at Rs 180 per share/warrant to WSG Co. Ltd (South Korea), promoter group firms, and other non-promoter investors. Also cleared Rs 27.50 cr capex to add 500 MTPA UHP tube capacity in 12 months. Director Vishwambhar Saraf (87) resigned; son Ritvik Saraf appointed as Non-Executive Director. Order book Rs 114 cr. Profitability hit by higher energy costs from Middle East tensions.
Mixed: strong earnings growth and expansion funding raised, but rising energy costs squeezing margins. UHP tube capex signals growth push.